ANGX

Angel Studios, Inc.

Angel Studios, Inc. is classed by the SEC under Services-Motion Picture & Video Tape Production (industry code 7812), based in Provo, UT. In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $322 million and a loss of $170 million (its filed statements).

Licensing business Services-Motion Picture & Video Tape Production Provo, UT filings since 2021 6 of 9 filed, 3 estimated

Sector peers: GAIACURITOONFUBO

5.1/10headline grade
vs its business-model standard

Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a licensing business: prior from its industry code (SEC 7812, Services-Motion Picture & Video Tape Production); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.

The grade, in three tenses

Headline 5.1 out of ten, 6 of 9 metrics filed and 3 estimated: past 5.3 out of ten, present 5.2 out of ten, future 4.8 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

  • Surviving crises (past): 1.9 out of ten. 11 warning events since 2021; the latest 2025-09-15. 19th percentile among 8 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Track record (past): 6.1 out of ten. +26% a year over 3 filed years; profitable in 1 of 3. 61st percentile among 7 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Shareholder treatment (past): 6.4 out of ten. CrossAssetData estimate 6.4/10, confidence 35 of 100 (one part). 64th percentile among 7 sector filers. A CrossAssetData estimate, not a filed reading: one part, confidence 35 of 100; a filing that carries the missing parts replaces this estimate with the filed reading.
  • Financial health (present): 5.5 out of ten. Leverage 111%: owes 111¢ per asset dollar. 55th percentile among 7 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Industry position (present): 5.2 out of ten. top 48% of 8 in its family; net margin -53%. 52nd percentile among 8 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Leadership (present): 5.0 out of ten. CrossAssetData estimate 5.0/10, confidence 35 of 100 (one part). 50th percentile among 7 sector filers. A CrossAssetData estimate, not a filed reading: one part, confidence 35 of 100; a filing that carries the missing parts replaces this estimate with the filed reading.
  • Room to expand (future): 3.5 out of ten. bottom 35% of 7 in its family for room to expand. 35th percentile among 7 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Growth drivers (future): 7.3 out of ten. top 27% of 7 in its family for growth drivers. 73rd percentile among 7 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Expectations vs reality (future): 4.7 out of ten. CrossAssetData estimate 4.7/10, confidence 20 of 100 (family median). 50th percentile among 6 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.

The filing record

Newest annual report: Form 10-K filed 2026-03-12 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-04 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-08-04 (on EDGAR). Newest filing: Form 8-K, 2026-10-02. Filings on record since 2021. Read from EDGAR 2026-10-12.

Where the revenue comes from

Product and service lines in fiscal 2025: Angel Guild Revenue 65%, Theatrical Release Revenue 24%, Content Licensing 8%, Merchandise Revenue 2%, Entertainment Pay It Forward Revenue 1%, Product and Service Other under 1%. As tagged in its annual report (Form 10-K, filed 2026-03-12).

Who runs it

Harmon, Neal (Chief Executive Officer); Harmon, Jordan (President); Klossner, Scott Edward (Chief Financial Officer); Ellis, Elizabeth (Chief Operating Officer); Harmon, Jeffrey (Chief Content Officer); Nickle, Eric Glen (Chief Legal Officer); Geesey, Jared (Chief Distribution Officer); Taylor, Seth (Chief Experience Officer); Sarowitz, Steven I (director); Crane, Benton Deloss (director); and 4 more. 14 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-09-30.

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