Corrected: Angel Studios Q2 Guild revenue jumps on Guild membership growth

Angel Studios

04/08/2026 21:33

Corrects KD table revenue figure from $90.7 mln to $111.7 mln; corrects analysts estimates of Q2 revenue from miss to beat

Overview
U.S. media platform's Q2 revenue rose 27.5% yr/yr and beat analyst expectations
Guild revenue grew 93.8% yr/yr, driven by 99.2% increase in paying memberships
Company improved selling and marketing efficiency, with expenses falling as percentage of revenue

Outlook
Company reiterates full-year 2026 Adjusted EBITDA loss guidance of no more than $25 mln
Angel Studios plans seven theatrical releases in H2 2026 to drive Guild membership growth
Company anticipates continued Guild membership growth from upcoming theatrical releases

Result Drivers
GUILD MEMBERSHIP GROWTH - Co said 99.2% yr/yr increase in paying Guild members drove revenue growth
MARKETING EFFICIENCY - Guild selling and marketing expense fell to 52.8% of Guild revenue in Q2 2026, from 71.6% in Q2 2025, reflecting improved efficiency
REVENUE MIX SHIFT - Gross margin declined due to lower share of higher-margin theatrical revenue compared to prior-year period

Company press release: ID:nBw3LhdCga

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$111.7 mln
$109.67 mln (6 Analysts)
Q2 Loss Per Share
 
$0.13
 
Q2 Net Loss
 
$23.80 mln
 
Q2 Adjusted EBITDA
 
-$11.70 mln
 
Q2 Gross Margin
 
54.00%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the entertainment production peer group is "buy"
Wall Street's median 12-month price target for Angel Studios, Inc. is $8.50, about 101.9% above its August 3 closing price of $4.21

Reuters Recommended Reads
Aug 3 - 'Spider-Man: Brand New Day' debut sets all-time record at domestic box office
Aug 3 - TKO Group Q2 revenue beats estimates; 2026 outlook lifted
Aug 4 - Spotify forecasts weak profit as user growth slows in North America, Europe

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)