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Angel Reports Third Quarter 2026 Results

  • Angel reported Q3 2026 total revenue of $159.0 million, representing a 107.7% year-over-year increase & a 42.4% quarter-over-quarter increase.
  • Guild revenue reached $115.6 million in Q3 2026, up 95.3% year-over-year & 27.5% quarter-over-quarter.
  • Angel Guild paying membership grew to 2.94 million, adding 1.36 million net new members year-over-year & approximately 335,000 in Q3 alone.
  • Net loss narrowed to $5.2 million for the quarter, down from $38.5 million in Q3 2025 & $23.8 million in Q2 2026.
  • Adjusted EBITDA loss was $3.2 million for Q3 2026 & $10.9 million for the nine months ended September 30, 2026, compared to a $78.8 million loss in the same period of 2025.
  • The company generated positive operating cash flow of $10.3 million in Q3 2026 & $29.1 million year-to-date.
  • Angel released Young Washington in Q3, which became its highest-grossing 2026 domestic film with $47 million at the box office.
  • The TV & film library expanded to over 1,500 releases as of September 30, 2026, up from 837 at the end of 2025.
  • Acquisitions of Tuttle Twins & The Wingfeather Saga increased the total class A common stock share count by 9.4 million, resulting in 196,323,468 shares issued & outstanding.
  • Company reiterated full-year 2026 guidance for an Adjusted EBITDA loss of less than $25 million.
  • Guild selling & marketing expense decreased to 55% of Guild revenue in Q3 2026 from 75% in Q3 2025, indicating improved operational efficiency.
  • Deferred revenue grew to $98.5 million as of September 30, 2026, reflecting growth in annual Guild memberships paid in advance.
  • Angel held 304 bitcoin valued at $25.4 million as of September 30, 2026, compared to $26.5 million at year-end 2025.
  • Q3 theatrical revenue was $29.0 million, driven by releases of Young Washington, Brink of War, & Runner.
  • The holiday slate includes Drummer Boy, Hershey, & Zero A.D. scheduled for release during the family movie season.