Angel Studios Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw 28% revenue growth to $111M and Guild membership nearly double year-over-year to 2.85M, with improved operating leverage and a reduced adjusted EBITDA loss. Gross margin declined due to revenue mix, but cash and deferred revenue increased. Management reaffirmed guidance for an adjusted EBITDA loss below $25M for the year.
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Q1 2026 saw revenue surge 143% year-over-year to $115 million and positive Adjusted EBITDA of $4 million, driven by Guild growth and efficient marketing. Theatrical releases and AI-driven operations fueled expansion, while a $34.5 million equity raise strengthened liquidity.
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A values-driven streaming platform leverages a 2.2 million-member guild to select and curate diverse content, achieving high audience scores and rapid growth. Strategic partnerships and third-party licensing are expanding the library, with profitability and international expansion as future goals.
Fiscal Year 2025
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Q4 2025 revenue soared 254% year-over-year to $110 million, with Guild membership surpassing 2.2 million and strong box office results from "David" and "Solo Mio." AI-driven efficiencies and expanded content partnerships are fueling growth, with adjusted EBITDA loss for 2026 expected to improve to no greater than $25 million.
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Q3 revenue surged 280% year-over-year to $76.5 million, driven by a 500% increase in Guild membership, now at 1.6 million and contributing 77% of revenue. Major IP acquisitions, AI-driven engagement, and a strong release pipeline position the company for continued growth.