Angel Studios Q3 revenue beats estimates as Guild membership grows
ANGX•Angel Studios’ Q3 revenue more than doubled year over year to $159.02 million, beating the $140.36 million estimate. Net loss narrowed to $5.2 million from $38.5 million a year earlier.
1. Revenue and loss
Q3 revenue was $159.02 million, above the $140.36 million consensus estimate. Net loss narrowed to $5.2 million from $38.5 million a year earlier, while adjusted EBITDA loss was $3.2 million.
2. Membership and releases
Paying Guild members rose 86% year over year to 2.94 million. Theatrical revenue increased to $29 million from $5.5 million, led by “Young Washington” and other new releases; Guild selling and marketing expense fell to 55% of Guild revenue from 75%.
3. 2026 outlook
Angel reiterated its guidance for a full-year 2026 adjusted EBITDA loss of less than $25 million. Its holiday theatrical slate includes “Drummer Boy,” “Hershey” and “Zero A.D.”
