Angel Studios Inc Class A (ANGX) AI Stock Analysis

• Market Cap: $550.70M
• Dividend Yield: N/A
• Average Volume (3M): 667.60K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.14
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 219
• Sector: Communication Services
• Sector Strength: 97
• Industry: Entertainment
• EPS (TTM): -0.25
• Shares Outstanding: 111,053,970
• 10 Day Avg. Volume: 589,302
• 30 Day Avg. Volume: 667,601
• PEG Ratio: 0.02
• Price to Book (P/B): -477.84
• Price to Sales (P/S): 21.64
• P/FCF Ratio: -34.51
• Enterprise Value/Market Cap: 0.97
• Enterprise Value/Revenue: 2.21
• Enterprise Value/Gross Profit: 3.51
• Enterprise Value/Ebitda: -4.76
• 1Y Price Target: $8.13
• Price Target Upside: 149.39% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): -0.53
• Revenue Forecast (FY): $408.78M

• Rating: 45 Neutral
• Price Target: $4.00 ▲(22.70% Upside)
• Action: N/A Date: 02/02/26
• Date: Action: N/A 02/02/26

The score is held down primarily by heavy operating losses and substantial negative free cash flow, with elevated leverage adding risk. Technicals also reflect a clear downtrend. Offsetting factors include strong revenue growth and improved gross margin, plus positive corporate milestones and strategic content acquisitions that could support longer-term growth.

Positive Factors

Revenue growth & improving gross margin

Sustained +30% TTM revenue growth and a ~62.9% gross margin indicate improving unit economics and stronger monetization of content. This top-line momentum supports scale economics, underwriting continued content investment and potential path to operating leverage if fixed costs are controlled.

Large paying Guild membership base

Crossing two million paying members is a durable structural asset: recurring revenue, higher engagement, and direct-to-consumer economics reduce reliance on third-party distribution. A large, engaged guild improves predictability of content demand and enables cross-sale and retention strategies over the medium term.

Strategic acquisitions of high-performing series

Buying top series and owning IP strengthens long-term monetization (franchise, licensing, sequels). Converting high-performing shows into owned franchises can lower content sourcing costs, deepen platform differentiation in family-friendly entertainment, and raise lifetime revenue per title.

Negative Factors

Persistent negative operating and free cash flow

Large, sustained cash burn undermines financial flexibility and forces dependence on external financing or asset sales. Over months this constrains ability to consistently fund new productions or marketing, increases dilution/refinancing risk, and challenges sustainability before a credible path to positive cash flow is proven.

Elevated leverage relative to equity

Debt materially above equity raises fixed obligations and refinancing risk, especially given negative cash flows. Higher leverage reduces strategic flexibility to invest in content or absorb shocks, increases interest burdens, and can pressure liquidity profiles if revenue growth slows or capital costs rise.

Large operating losses and earnings volatility

Deep negative margins and a swing from prior profitability indicate earnings volatility and difficulty covering SG&A and content costs. Without durable cost discipline or scalable revenue conversion, profitability remains uncertain, making long-term return on invested capital unpredictable for investors.

Angel Studios Inc Class A Business Overview & Revenue Model

Company Description

Angel Studios, Inc. produce and distribute films and television shows by creators through its streaming platform. The company's platform allows users to watch movies, shows, and documentaries for all ages. In addition, the company sells physical media, such as DVD, Blu-ray discs, and various books online; and provides content licensing services. The platform allows fans to invest in and promote productions, fostering a community-driven approach to content creation. Angel Studios, Inc. was formerly known as VidAngel, Inc. and changed its name to Angel Studios, Inc. in March 2021. The company was founded in 2013 and is based in Provo, Utah.

How the Company Makes Money

Angel Studios Inc Class A Financial Statement Overview

Summary

Despite strong TTM revenue growth (+30.3%) and improved gross margin (~62.9%), results are dominated by severe losses (EBIT margin ~-46.9%, net margin ~-53.8%) and very large cash burn (TTM operating cash flow ~-$103.0M; free cash flow ~-$107.8M). Balance sheet equity has turned positive versus 2024, but leverage is elevated (debt-to-equity ~1.68), keeping financial risk high.

Income Statement

TTM (Trailing-Twelve-Months) revenue grew strongly (+30.3%) and gross margin improved to ~62.9% (vs ~56.4% in 2024), showing better top-line momentum and underlying unit economics. However, profitability deteriorated materially: TTM operating results were deeply negative (EBIT margin ~-46.9%) and net margin was ~-53.8%, following a 2024 net margin of ~-93.0%. The swing from a profitable 2023 (positive net income) to large losses in 2024 and TTM suggests elevated operating costs and earnings volatility.

Balance Sheet

Leverage has increased: TTM debt of ~$53.1M against equity of ~$31.5M implies a debt load meaningfully above equity (debt-to-equity ~1.68). Equity improved versus 2024 (when equity was negative), which is a positive inflection, but returns remain very weak given sizable losses (TTM return on equity is sharply negative). Overall asset base expanded (TTM assets ~$197.0M vs ~$98.5M in 2024), yet the capital structure looks riskier with higher debt and strained profitability.

Cash Flow

Cash generation is a key concern: TTM operating cash flow was about -$103.0M and free cash flow about -$107.8M, worsening the funding burden despite revenue growth. 2024 also showed sizable cash burn (operating cash flow about -$60.2M; free cash flow about -$60.5M). While free cash flow growth is positive in TTM, it remains deeply negative in absolute dollars, and cash flow is not currently supporting the business without external financing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	242.66M	96.52M	202.44M	75.52M	0.00
Gross Profit	152.54M	54.45M	116.40M	35.12M	0.00
EBITDA	-112.68M	-82.38M	11.56M	-12.66M	2.94M
Net Income	-130.47M	-89.80M	9.16M	-13.71M	2.33M
Balance Sheet
Total Assets	197.00M	98.52M	98.26M	39.39M	236.63M
Cash, Cash Equivalents and Short-Term Investments	63.33M	7.21M	25.20M	10.72M	1.95M
Total Debt	53.06M	14.28M	5.49M	3.98M	0.00
Total Liabilities	159.83M	94.67M	58.58M	17.39M	26.29M
Stockholders Equity	31.52M	-4.37M	39.83M	22.00M	210.34M
Cash Flow
Free Cash Flow	-107.77M	-60.54M	5.34M	-12.80M	794.34K
Operating Cash Flow	-102.97M	-60.23M	5.91M	-11.66M	794.34K
Investing Cash Flow	-30.51M	-3.91M	-688.11K	-3.50M	-234.60M
Financing Cash Flow	206.41M	46.15M	9.25M	1.62M	235.76M

Angel Studios Inc Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
VELO	47 Neutral	$238.30M	-0.59	-228.03%	―	59.44%	93.09%
ANGX	45 Neutral	$550.70M	-2.93	-221.24%	―	―	―

Angel Studios Inc Class A Corporate Events

Angel Studios Reaches Two Million Paying Guild Members

On December 30, 2025, Angel Studios, Inc. announced that it had surpassed two million paying Angel Guild members, marking a significant milestone in the growth of its membership-driven business model. This rapid expansion of its paying guild community underscores the company’s strengthening market position and suggests increased financial support and engagement from its audience, with potential implications for the scale and ambition of future content initiatives.

The most recent analyst rating on (ANGX) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Angel Studios Inc Class A stock, see the ANGX Stock Forecast page.

Angel Studios Inc. Reports $14M Presales for DAVID

Angel Studios Inc., known for its innovative approach to entertainment, has announced that its upcoming animated musical, DAVID, has reached approximately $14 million in theatrical presales. This marks a significant increase from the nearly $3 million reported in November 2025 and $6 million later that month, highlighting strong exhibitor participation and audience interest ahead of its nationwide release on December 19, 2025.

The most recent analyst rating on (ANGX) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Angel Studios Inc Class A stock, see the ANGX Stock Forecast page.

Angel Studios Approves 2026 Executive Compensation Plan

On December 12, 2025, Angel Studios, Inc. approved 2026 compensation arrangements for its executive officers under the 2025 Long-Term Incentive Plan, including base salary adjustments and grants of restricted stock units (RSUs) and performance-based restricted stock units (PSUs). The base salaries will be effective from January 1, 2026. The RSU awards will vest in installments from December 2026 to November 2028, while the PSUs will vest based on achieving specified stock-price performance milestones over a ten-year period.

The most recent analyst rating on (ANGX) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Angel Studios Inc Class A stock, see the ANGX Stock Forecast page.

Angel Studios Approves 2026 Executive Compensation Plan

On November 18, 2025, Angel Studios, Inc. announced the approval of 2026 compensation arrangements for its executive officers under the 2025 Long-Term Incentive Plan. The plan includes base salary adjustments and grants of restricted stock units (RSUs) and performance-based restricted stock units (PSUs) for key executives, with vesting conditions tied to continued service and stock price performance milestones.

The most recent analyst rating on (ANGX) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Angel Studios Inc Class A stock, see the ANGX Stock Forecast page.

Angel Studios Acquires Top Series to Boost Portfolio

On November 14, 2025, Angel Studios, Inc. announced definitive agreements to acquire three of its highest-performing series: Tuttle Twins, The Wingfeather Saga, and Homestead. These acquisitions are set to enhance Angel’s portfolio and strengthen its position in the family-friendly entertainment sector. The mergers involve complex transactions, including the conversion of equity units into Angel’s Class A Common Stock, and are subject to various closing conditions, such as approval from equity holders and regulatory filings. These strategic moves are expected to consolidate Angel’s market presence and potentially increase its revenue streams through expanded content offerings.

The most recent analyst rating on (ANGX) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Angel Studios Inc Class A stock, see the ANGX Stock Forecast page.

Angel Studios Expands Its Franchise Portfolio with Strategic Series Acquisition

On November 14, 2025, Angel Studios Inc. announced the acquisition of three high-performing series—Tuttle Twins, Homestead, and The Wingfeather Saga—as part of its strategy to strengthen platform engagement and franchise ownership. These acquisitions, funded through a combination of cash and stock totaling approximately $89 million, are expected to enhance Angel’s competitive position and align with its community-driven model, reinforcing its commitment to values-driven storytelling.

The most recent analyst rating on (ANGX) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Angel Studios Inc Class A stock, see the ANGX Stock Forecast page.