Angel Studios Inc Class A (ANGX) AI Stock Analysis

• Market Cap: $652.93M
• Dividend Yield: N/A
• Average Volume (3M): 778.60K
• 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): -0.47
• Shares Outstanding: 112,425,270
• 10 Day Avg. Volume: 818,997
• 30 Day Avg. Volume: 778,598
• PEG Ratio: -0.04
• Price to Book (P/B): -23.06
• Price to Sales (P/S): 2.25
• P/FCF Ratio: -8.65
• Enterprise Value/Market Cap: 0.92
• Enterprise Value/Revenue: 1.88
• Enterprise Value/Gross Profit: 3.04
• Enterprise Value/Ebitda: -3.97
• 1Y Price Target: $9.17
• Price Target Upside: 138.18% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): -0.53
• Revenue Forecast (FY): $424.72M

• Rating: 42 Neutral
• Price Target: $3.50 ▼(-9.09% Downside)
• Action: Reiterated Date: 03/14/26
• Date: Action: Reiterated 03/14/26

The score is primarily weighed down by weak financial performance—large losses, heavy cash burn, and negative equity alongside rising debt. Technicals also suggest a continued downtrend, while valuation is constrained by loss-making earnings. Corporate events are mixed, with strong engagement/presales tempered by tighter liquidity covenants and equity-raise pressure.

Positive Factors

Large, engaged paying Guild

A two-million strong paying membership base creates durable recurring revenue and direct distribution advantages. High engagement lowers customer acquisition cost, supports organic marketing for new releases, and provides predictable demand that underpins long-term content monetization and audience retention.

Revenue rebound and strong box-office performance

A sharp revenue rebound and outsized per-title box office performance indicate the company can monetize content effectively and capture audience share. Structural demand and distribution capability support revenue scalability and strengthen bargaining power with exhibitors and partners over multiple cycles.

Rapidly expanding content library

A fast-growing catalog builds long-term IP assets and recurring licensing opportunities. Expanding titles increases cross-selling, platform retention, and library value over time, creating durable content leverage if engagement and monetization per title remain stable or improve.

Negative Factors

Rising leverage and negative equity

Significant leverage and negative shareholders' equity materially reduce financial flexibility. Over time this raises refinancing, covenant and dilution risk, limits ability to invest organically, and can force strategic trade-offs between growth and deleveraging if cash generation doesn't improve.

Sustained negative operating and free cash flow

Persistent negative operating and free cash flow implies ongoing cash burn and reliance on external financing to fund operations and content spend. This undermines long-term self-funding of growth, increases funding costs, and magnifies vulnerability to tighter capital markets or covenant breaches.

Tightened credit covenants requiring equity proceeds

New covenant demands and a near-term equity-raise requirement create structural financing pressure. This forces potential dilution or expensive capital, constrains strategic flexibility for content investments, and elevates execution risk if markets or timing impair fundraising prospects.

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.

Angel Studios Inc Class A Financial Statement Overview

Summary

Despite a sharp 2025 revenue rebound (~33% to ~$322M), profitability and cash generation are weak: large 2025 losses (EBIT about -$154M; net income about -$170M), deeply negative operating/free cash flow in 2024–2025, and a stressed balance sheet with rising debt (~$58.8M) and more negative equity (~-$31.4M).

Income Statement

Revenue rebounded sharply in 2025 (up ~33% to ~$322M after a weak 2024), but profitability deteriorated materially: 2025 EBIT was about -$154M and net income about -$170M, versus a modest profit in 2023. The pattern is volatile—profits in 2023, heavy losses in 2022, 2024, and 2025—suggesting the current cost structure is not scaling with revenue and earnings quality is unstable.

Balance Sheet

Leverage increased significantly as total debt rose to ~$58.8M in 2025 from ~$14.3M in 2024 and ~$5.5M in 2023. Most concerning, shareholders’ equity turned more negative (about -$31.4M in 2025), which weakens financial flexibility and raises refinancing/dilution risk despite asset growth (total assets ~$241M in 2025).

Cash Flow

Cash generation is a major weakness: operating cash flow and free cash flow were deeply negative in both 2024 and 2025 (about -$60M and -$83M operating cash flow, respectively). This represents a significant reversal from 2023 when the business produced positive operating cash flow (~$5.9M) and free cash flow (~$5.3M), implying higher cash burn and greater dependence on external funding.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	321.56M	96.52M	202.44M	75.52M	0.00
Gross Profit	196.70M	54.45M	116.40M	35.12M	0.00
EBITDA	-154.01M	-82.38M	11.56M	-12.66M	2.94M
Net Income	-170.48M	-89.80M	9.16M	-13.71M	2.33M
Balance Sheet
Total Assets	241.41M	98.52M	98.26M	39.39M	236.63M
Cash, Cash Equivalents and Short-Term Investments	44.08M	7.21M	25.20M	10.72M	1.95M
Total Debt	58.82M	14.28M	5.49M	3.98M	0.00
Total Liabilities	267.19M	94.67M	58.58M	17.39M	26.29M
Stockholders Equity	-31.43M	-4.37M	39.83M	22.00M	210.34M
Cash Flow
Free Cash Flow	-83.84M	-60.54M	5.34M	-12.80M	794.34K
Operating Cash Flow	-83.33M	-60.23M	5.91M	-11.66M	794.34K
Investing Cash Flow	-57.61M	-3.91M	-688.11K	-3.50M	-234.60M
Financing Cash Flow	177.81M	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	$358.19M	-1.36	-228.03%	―	59.44%	93.09%
ANGX	42 Neutral	$652.93M	-4.25	9999.00%	―	―	―

Angel Studios Inc Class A Corporate Events

Angel Studios Amends Credit Facility, Tightens Liquidity Covenants

On February 17, 2026, Angel Studios, Inc. and certain subsidiaries executed a Ratification and First Amendment to their Loan and Security Agreement, effective as of September 9, 2025, tied to a Credit Facility originally dated September 8, 2025 with Trinity Capital Inc. as administrative agent. The amendment reflects the company’s September 10, 2025 business combination, under which Angel Studios assumed all liabilities of the original borrower, and it incorporates the formation of a joint venture and the acquisition of rights in the animated feature film provisionally titled DAVID.

The revised terms raise the required liquidity level under the Credit Facility to $30 million and oblige Angel Studios to show that it has secured an additional $30 million in net cash proceeds from equity sales between January 1, 2025 and June 30, 2026, on terms acceptable to the administrative agent. These changes tighten financial covenants and emphasize the company’s need to bolster its equity base and liquidity, which may affect its capital-raising strategies and financing flexibility as it pursues content-related projects and integrates the business combination.

The most recent analyst rating on (ANGX) stock is a Hold with a $4.00 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 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.