Angel Studios reported second quarter 2026 financial results on August 4, 2026. Total revenue increased 27.5% year-over-year to $111.7 million, driven by a 93.8% surge in Guild revenue to $90.7 million as paying members grew 99.2% to 2.61 million. The company achieved positive operating cash flow of $16.9 million, a significant improvement from the prior year's loss of $10.6 million, while maintaining full-year Adjusted EBITDA guidance of no more than $25 million in losses. Net loss widened to approximately $23.8 million compared to $15.7 million in the prior year period, with net loss per share rising to $0.129 from $0.106. Cash and cash equivalents stood at $48.0 million as of June 30, 2026. Angel Studios operates in the media and technology industry, pioneering an audience-driven model where community members vote on film distribution.

Angel Studios, Inc. entered into amended and restated merger agreements on June 29, 2026, regarding its previously announced acquisitions of Tuttle Twins Show, LLC (TTS) and Toothy Cow Productions, LLC (TCP). The revisions extend the transaction outside dates to October 31, 2026, and modify specific closing conditions, such as removing a showrunner agreement requirement for Daniel Harmon in the TTS deal. The company has provided $11.7 million in operational funding to TTS and $11.9 million to TCP to date. If the mergers fail, these funds will convert into preferred units of the respective entities at $1.16 and $1.50 per unit. Angel Studios, Inc. is a media company that produces and distributes entertainment content.

On June 17, 2026, Angel Studios, Inc. filed a Third Amended and Restated Certificate of Incorporation to modify the automatic conversion of Class B common stock into Class A common stock. The amendments introduce new 'Permitted Transferee' categories for Qualifying Purpose Trusts and Qualifying Estate Planning Trusts, exempting Class B shares held by these entities from automatic conversion upon transfer, death, or permanent incapacity. The Amended Charter was approved by the Board of Directors on June 16, 2026, and by 77.45% of outstanding Class B stockholders (43,944,071 of 56,735,246 shares) on June 17, 2026. The company operates in the entertainment industry as a film and television production studio.