Angel Studios, Inc. reported significant financial performance improvements in its latest quarterly filing, with total revenue reaching $115.1 million for the three months ended March 31, 2026, a 143% increase from $47.4 million in the same period last year. The surge in revenue was primarily driven by a substantial rise in Angel Guild memberships, which grew from 1.08 million to approximately 2.22 million, contributing $83.3 million to the revenue. Theatrical revenue also saw a notable increase of 133%, totaling $18.0 million, attributed to successful film releases during the quarter.
Despite the revenue growth, the company reported an operating loss of $2.7 million, a significant improvement from the $33.6 million loss recorded in the prior year. This reduction in operating loss was supported by a decrease in net loss before income tax benefit, which fell to $13.8 million from $37.3 million year-over-year. The company’s cost of revenues increased to $44.0 million, up 126% from the previous year, reflecting the higher costs associated with servicing a larger membership base and increased theatrical releases.
Operationally, Angel Studios has made strategic moves to enhance its content offerings and market presence. The company completed the acquisition of intellectual property for the film "Sketch" and entered into several merger agreements, including those for the "Homestead" and "Tuttle Twins" series. These acquisitions are expected to bolster the company's content library and expand its audience reach. Additionally, the company has been actively managing its digital assets, holding approximately 303.1 bitcoin, which it views as a strategic treasury asset.
As of March 31, 2026, Angel Studios reported total assets of $213.1 million, down from $241.4 million at the end of 2025, primarily due to a decrease in cash and cash equivalents. The company’s liabilities also decreased to $254.5 million from $267.2 million, reflecting a reduction in accounts payable and accrued expenses. The company’s accumulated deficit increased to $255.3 million, indicating ongoing challenges in achieving profitability.
Looking ahead, Angel Studios aims to continue growing its revenue through increased Angel Guild memberships and a robust pipeline of theatrical releases planned through 2026. The company has expressed confidence in its ability to meet operational requirements over the next twelve months, supported by its existing capital resources and ongoing strategic initiatives. However, management acknowledges the inherent risks and uncertainties associated with its growth strategy and market conditions.
About Southport Acquisition Corp
Southport Acquisition Corporation is a blank check company formed to effect a merger, asset acquisition, or similar business combination with a target company. It has no operations or revenue and seeks to identify mission-critical, scalable businesses in growing markets, particularly in software and SaaS industries. The company offers an alternative route for private companies to go public through mergers, leveraging its status as a public entity to facilitate growth and liquidity.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.