Angel Studios (NYSE:ANGX) Can Guild Membership Growth Narrow Its Losses?

Aditi Sarkar

16 October 2026 05:11 PM AEDT

Angel Studios (NYSE:ANGX) Can Guild Membership Growth Narrow Its Losses?

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Highlights

Angel Studios, a media and technology company based in Provo, Utah, announced on 14 October 2026 that it will release third-quarter results after the market close on Tuesday 10 November.
The shares traded at $3.52 at 12.35pm Eastern Time on Thursday 15 October 2026, down 0.28%, on delayed data from StockAnalysis.com.
Revenue was $111.7 million, up 27.5% from $87.6 million.
Gross margin was about 54%, down from about 69%, mainly because the second quarter of 2025 included higher-margin theatrical revenue.

Angel Studios (NYSE:ANGX), a media and technology company based in Provo, Utah, announced on 14 October 2026 that it will release third-quarter results after the market close on Tuesday 10 November, with a webinar at 8am Eastern Time on Wednesday 11 November. That is the latest verified development, and as results come after the close, the first trading session reflecting them would be 11 November. Until then, the most recent financial information is the second-quarter report published on 4 August 2026.

What the Share Price Shows

The shares traded at $3.52 at 12.35pm Eastern Time on Thursday 15 October 2026, down 0.28%, on delayed data from StockAnalysis.com. This is an intraday quote, not a close. The market capitalisation was about $657 million and the 52-week range was $2.045 to $7.58, so the price was about 54% below the high and 72% above the low on a calculation from the reported figures. The reviewed material identified no sourced explanation for the decline. Angel's index membership is not verified, so the NYSE Composite is used only as a general benchmark.

Inside the Latest Results

Revenue was $111.7 million, up 27.5% from $87.6 million. Guild revenue, from the company's paying membership programme, was $90.7 million, up 93.8% and 8.9% from the previous quarter, and made up about 81% of the total. Paying Guild members reached 2.61 million, up 99.2% year on year and 17.6% sequentially, and passed 2.85 million by 31 July. A StockAnalysis headline dated 15 September said it passed three million, but The reviewed material did not read the underlying release.

Total revenue grew far more slowly than Guild revenue. On a calculation from the reported figures, revenue outside the Guild fell from about $40.8 million to about $21.0 million, The company cited higher-margin theatrical income from King of Kings in the prior-year period when explaining its margin, which may account for part of the fall, although the release summary did not say so directly.

Profitability and cash

Gross margin was about 54%, down from about 69%, mainly because the second quarter of 2025 included higher-margin theatrical revenue. Guild selling and marketing costs fell to 52.8% of Guild revenue from 71.6%. The net loss was $23.8 million, or $0.129 per share, against $15.7 million and $0.106 a year earlier.

Adjusted EBITDA, a non-GAAP measure, was a loss of $11.7 million, narrower than the $17.5 million loss a year earlier, after positive adjusted EBITDA of $4.0 million in the first quarter. Operating cash flow was positive $16.9 million, compared with negative $10.6 million. Cash was $48.0 million at 30 June, up from $44.1 million at the end of 2025, and the Trinity credit facility was undrawn. Bitcoin holdings were unchanged at 303.1 bitcoin.

Guild marketing efficiency improved as a ratio, but not necessarily in dollars. Applying the stated percentages, selling and marketing for the Guild was about $47.9 million this quarter against roughly $33.5 million a year earlier, on a calculation from the reported figures, so spending grew while efficiency rose. The net loss was about 21% of revenue, compared with about 18% in the prior-year quarter.

Guidance and what to watch

Angel planned seven theatrical releases in the second half of 2026 and reiterated guidance for a full-year adjusted EBITDA loss of no more than $25 million. With a first-half loss of $7.7 million, that leaves room for a second-half loss of up to $17.3 million on a calculation from the reported figures. This is a company limit, not a forecast of results.

Chief executive Neal Harmon credited audience-driven curation, values-based storytelling and filmmaker revenue sharing for the more efficient model. Investors are likely to watch Guild membership and revenue growth, the performance of the film slate, marketing efficiency and cash balances when the third-quarter results arrive on 10 November. Readers should consult primary filings, as forward items change.

FAQs

Q: What is the stock ticker for Angel Studios?

A: Angel Studios trades under ANGX on the NYSE market, as identified in the supplied material.

Q: What is the main development covered?

A: The article examines the reported results, recent developments and financial outlook available as of 16 October 2026.

Q: Are the company’s projections guaranteed?

A: No. Management targets and guidance are forward-looking expectations, not reported results.

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