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Angel Studios, Inc. income statement

In fiscal 2025, Angel Studios, Inc. reported revenue of $322m, up 233.2% on the year before, operating income of −$164m (a -51.0% margin) and net income of −$170m, or −$1.10 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Angel Studios, Inc.: income statement, annual
Fiscal year2023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Revenue20297322413
Cost of revenue8644125174
Gross profit11652197239
Research and development10131616
Selling and marketing7493297303
General and administrative18223844
Operating income12−87−164−130
Interest expense121217
Income before tax11−85−170−155
Income tax−34——
Net income13−88−170−155
Diluted EPS$0.10−$0.64−$1.10−$0.91
Diluted shares (average)140m138m155m170m
EBITDA18−79−150−114

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Angel Studios, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Angel Studios, Inc.