Angel Studios Inc
ANGX
Angel Studios Inc AI Insights
Informational only. Not investment advice.Snapshot
- Debt-to-equity of 12.9x with only 2.9M equity and 38M debt - balance sheet severely strained with negative tangible book value (-797K)[Debt to Equity]
- Burning 56M cash TTM with only 28M remaining - current burn rate implies ~6 months runway without financing[Cash Flow TTM]
- 65% gross margin TTM vs industry median 38% shows content economics work; execution/scale is the problem[Gross Margin TTM]
Watch Triggers
- Cash and Equivalents: Falls below 15M or no financing announced — At current burn, triggers going concern risk within 3-6 months
- Total Revenue TTM: Quarterly revenue exceeds 60M (annualized 240M+) — Would indicate content hit driving scale needed for path to profitability
- Operating Expense TTM: Drops below 150M without revenue decline — Signals management executing cost discipline to extend runway
Bull Case
Gross margin of 65% (vs 38% industry median) proves content model economics; if hit content scales like 'Sound of Freedom', operating leverage could flip rapidly
848M market cap on 186M revenue (4.6x P/S) prices in distress; successful content hit or strategic buyer could unlock significant upside
Bear Case
Equity nearly wiped out (2.9M) with 140M liabilities - technical insolvency risk if content pipeline disappoints or financing unavailable
Revenue grew only 4.3% YoY while burning 106M net loss - growth not justifying cash consumption, dilution or default increasingly likely
Bull vs Bear Balance
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Forward Thesis
Capital raise or strategic transaction likely within 12 months given cash runway constraints
- 28M cash vs 56M annual burn
- 30M current debt maturing
- Negative working capital of -14.6M
Path to profitability requires 50%+ revenue growth or 40%+ opex reduction
- Operating loss of 101M on 186M revenue
- Opex of 222M exceeds total revenue
- R&D at 13M suggests limited scaling leverage
Public Strategies Rankings
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ANGX Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$814.62M | — | ||
$824.67M | — | ||
0.00 | — | ||
$186.23M | -10.6% | — | |
$-0.68 | — | ||
-54% | -44.4% | — | |
-56.8% | -50.2% | — | |
$-59.9M | — | ||
-14 | -1269.9% | — | |
Beta 5Y (Monthly) | unknown | — |
ANGX Dividend History
ANGX Stock Splits
ANGX SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
08/13/25 | 06/30/25 | 10-Q | |
08/04/25 | 03/31/25 | 424B3 | |
08/04/25 | 12/31/24 | 424B3 | |
02/14/25 | 09/30/24 | S-4/A | |
11/12/24 | 06/30/24 | S-4 | |
08/04/25 | 03/31/24 | 424B3 | |
11/12/24 | 12/31/23 | S-4 | |
02/14/25 | 09/30/23 | S-4/A | |
11/12/24 | 06/30/23 | S-4 |