Earnings ·
Angel Studios reports $111.7M Q2 revenue as Guild membership climbs 99% year-over-year
ANGXAngel Studios, Inc.
Angel Studios reported second quarter 2026 total revenue of $111.7 million, up 27.5% from the prior-year period, driven by a 93.8% year-over-year increase in Angel Guild revenue to $90.7 million. The company's paying membership base grew 99.2% year-over-year to 2.61 million members during the quarter and surpassed 2.85 million as of July 31, 2026. Operating loss narrowed to $18.5 million from $21.3 million in Q2 2025, while positive operating cash flow improved by $27.5 million year-over-year to $16.9 million. Net loss widened to approximately $23.8 million compared to a net loss of $15.7 million in the prior-year quarter. The company reiterated its full-year 2026 Adjusted EBITDA loss guidance of no more than $25 million and plans seven theatrical releases for the second half of the year. Angel Studios is a media and technology company pioneering an audience-driven model where community members vote on film distribution.