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Angel Studios, Inc.

ANGX NYSE Categories PDF
Communication Services · Entertainment · United States · Updated May 11, 11:00am
$3.13
Price
$503.7M
Market Cap
219
Employees
0.05
Beta
Neal S. Harmon
CEO
Business Description

Angel Studios, Inc. produce and distribute films and television shows by creators through its streaming platform. The company's platform allows users to watch movies, shows, and documentaries for all ages. In addition, the company sells physical media, such as DVD, Blu-ray discs, and various books online; and provides content licensing services. The platform allows fans to invest in and promote productions, fostering a community-driven approach to content creation. Angel Studios, Inc. was formerly known as VidAngel, Inc. and changed its name to Angel Studios, Inc. in March 2021. The company was founded in 2013 and is based in Provo, Utah.

Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-2.84
Stock Price: $3.13
EPS (Diluted): -1.10
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
-23.06
Stock Price: $3.13
Total Equity: -$31.43M
Shares: 155,250,925
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
-5.22
Market Cap: $503.65M
Total Debt: $56.76M
Cash: $44.08M
EBITDA: -$143.31M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$739.8M
Market Cap: $503.65M
Total Debt: $56.76M
Cash: $44.08M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
61.2%
Gross Profit: $196.70M
Revenue: $321.56M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
-51.0%
Operating Income: -$164.11M
Revenue: $321.56M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-53.0%
Net Income: -$170.48M
Revenue: $321.56M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
1,535.7%
Net Income: -$170.48M
Total Equity: -$31.43M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
-195.0%
Operating Income: -$164.11M
Tax Rate: 0.0%
Equity: -$31.43M
Total Debt: $56.76M
Cash: $44.08M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
0.62
Current Assets: $134.88M
Current Liabilities: $219.00M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
-1.81
Short-Term Debt: $56.76M
Long-Term Debt: $0.00
Total Debt: $56.76M
Total Equity: -$31.43M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$2.07
Revenue: $321.56M
Shares: 155,250,925
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$-0.20
Total Equity: -$31.43M
Shares: 155,250,925
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$-0.54
Operating CF: -$83.33M
CapEx: -$509,425
Shares: 155,250,925
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $3.13
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$170.48M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ANGX against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $0 $75.5M $202.4M $96.5M $321.6M
Cost of Revenue $0 $40.4M $86.0M $42.1M $124.9M
Gross Profit $0 $35.1M $116.4M $54.5M $196.7M
Operating Expenses $229,482 $49.5M $108.3M $141.0M $360.8M
Operating Income $-229,484 -$14.4M $8.2M -$86.6M -$164.1M
Net Income $2.3M -$13.7M $9.2M -$89.8M -$170.5M
EBITDA $2.9M -$12.7M $11.6M -$82.4M -$143.3M
EPS $0.08 $-0.09 $0.06 $-0.56 $-1.10
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $2.0M $10.7M $25.2M $7.2M $44.1M
Total Current Assets $2.0M $22.2M $65.1M $52.9M $134.9M
Total Assets $236.6M $39.4M $98.3M $98.5M $241.4M
Current Liabilities $1.0M $11.4M $44.1M $80.1M $219.0M
Long-Term Debt $0 $0 $0 $0 $0
Total Liabilities $26.3M $17.4M $58.6M $94.7M $267.2M
Total Equity $210.3M $22.0M $39.8M -$4.4M -$31.4M
Retained Earnings -$24.3M -$19.2M -$10.1M -$99.9M -$241.5M
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $794,342 -$11.7M $5.9M -$60.2M -$83.3M
Capital Expenditure $0 -$1.1M $-572,463 $-303,793 $-509,425
Free Cash Flow $794,340 -$12.8M $5.3M -$60.5M -$83.8M
Acquisitions (net) $0 -$1.7M -$1.7M -$5.5M -$2.0M
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $0 $-427,217 $-107,073 $-706,645 $-437,791
Net Change in Cash $2.0M -$13.5M $14.5M -$18.0M $43.6M
Analyst Estimates (Annual)
Metric 2025 2026 2027 2028
Revenue $306.4M
$304.4M – $308.6M
 $474.1M
$450.6M – $492.2M
 $595.9M
$535.8M – $662.6M
 $774.4M
$709.3M – $858.7M
EBITDA -$25.1M
-$25.3M – -$24.9M
 -$38.9M
-$40.3M – -$36.9M
 -$48.8M
-$54.3M – -$43.9M
 -$63.5M
-$70.4M – -$58.1M
Net Income -$259.2M
-$332.2M – -$186.2M
 -$72.3M
-$87.1M – -$49.1M
 -$48.5M
-$62.1M – -$31.0M
 -$31.6M
-$35.4M – -$27.7M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth — +168.1% -52.3% +233.2%
Gross Profit Growth — +231.4% -53.2% +261.2%
Operating Income Growth -6,173.2% +156.6% -1,161.6% -89.6%
Net Income Growth -689.5% +166.8% -1,079.9% -89.9%
EBITDA Growth -531.4% +191.3% -812.9% -74.0%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-05-05 Sarowitz Steven I P-Purchase 321,544.00 $3.06 $982,574
2026-04-23 Sarowitz Steven I M-Exempt 2,648.00 $0.00 $0
2026-04-23 Sarowitz Steven I M-Exempt 2,648.00 $0.00 $0
2026-04-23 Nguyen Trang T M-Exempt 2,648.00 $0.00 $0
2026-04-23 Nguyen Trang T M-Exempt 2,648.00 $0.00 $0
2026-04-23 Liljenquist Katie M-Exempt 2,648.00 $0.00 $0
2026-04-23 Liljenquist Katie M-Exempt 2,648.00 $0.00 $0
2026-04-23 Crane Benton Deloss M-Exempt 2,648.00 $0.00 $0
2026-04-23 Crane Benton Deloss M-Exempt 2,648.00 $0.00 $0
2026-04-23 Ahlstrom Paul M-Exempt 2,648.00 $0.00 $0
2026-04-23 Ahlstrom Paul M-Exempt 2,648.00 $0.00 $0
2026-03-06 Oskoui Stephen D. C-Conversion 57,770.00 $0.00 $0
2026-03-06 Oskoui Stephen D. C-Conversion 57,770.00 $0.00 $0
2026-02-27 Oskoui Stephen D. M-Exempt 137,651.00 $2.24 $308,338
2026-02-27 Oskoui Stephen D. F-InKind 79,881.00 $3.86 $308,341
2026-02-27 Oskoui Stephen D. M-Exempt 137,651.00 $2.24 $308,338
2026-01-26 Sarowitz Steven I M-Exempt 2,648.00 $0.00 $0
2026-01-26 Sarowitz Steven I M-Exempt 2,648.00 $0.00 $0
2026-01-23 Ahlstrom Paul M-Exempt 2,648.00 $0.00 $0
2026-01-23 Ahlstrom Paul M-Exempt 2,648.00 $0.00 $0
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27