Angel 2025 Q3 Earnings Surging Revenue Outpaces Record Net Loss

Angel Studios (ANGX) reported third-quarter 2025 earnings on Nov. 13, 2025, with revenue surging 280.4% year-over-year to $76.54 million—well above expectations—but the company posted a $38.61 million net loss, marking a 177.8% increase from 2024. Despite robust revenue growth driven by its Angel Guild membership model, the stock price fell 29.05% month-to-date, reflecting investor concerns over escalating losses.

Revenue

The company’s total revenue soared to $76.54 million in Q3 2025, with the Angel Guild contributing 77% of the total, a 556% year-over-year increase. This segment-driven growth highlights the Guild’s role as a recurring revenue engine, though the broader business still faces significant financial challenges.

Earnings/Net Income

Angel’s losses widened dramatically, with a net loss of $38.61 million ($0.25 per share), a 177.8% increase from $13.90 million ($0.10 per share) in 2024. Strategic investments in content and marketing—$64.7 million in selling and marketing expenses—underscored the company’s aggressive expansion, but the widening loss and negative EPS signal ongoing financial strain.

Price Action

Post-earnings, Angel’s stock price declined 1.50% in a single trading day, 18.22% over the preceding week, and 29.05% month-to-date. The price action reflects market skepticism about the company’s ability to monetize its rapid revenue growth while managing ballooning losses.

CEO Commentary

CEO Neal Harmon emphasized the Angel Guild’s 1.6 million members as a key growth driver, noting that 77% of Q3 revenue came from this segment. He highlighted upcoming theatrical releases like David and I Was a Stranger as catalysts for future engagement, despite the current $38.6 million net loss.

Guidance

Angel outlined plans to continue investing in values-driven content and theatrical releases, including the newly acquired David franchise. While no specific financial targets were provided, the company expressed confidence in leveraging the Guild’s 620% YoY growth and existing franchises to fuel long-term performance.

Post-Earnings Price Action Review

The stock’s post-earnings decline underscores investor concerns over Angel’s financial sustainability. A 1.50% drop in a single day, combined with an 18.22% weekly and 29.05% monthly slide, indicates heightened volatility. The price action aligns with the company’s widening losses and aggressive spending on content and marketing, which, while strategic, have yet to translate into profitability.

Additional News

Angel secured a $100 million credit facility with Trinity Capital to support growth, signaling confidence in its expansion strategy. The company also acquired the DAVID franchise, an animated biblical epic, to bolster its theatrical slate. Meanwhile, DAVID’s $3 million in pre-sales—its highest-ever for an animated musical—positions it as a key holiday release.

Financial Polishing Notes

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