Filing Flows › Angel Studios (ANGX) › Q1 2025
Angel Studios (ANGX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 16, 2025
Angel Studios (ANGX) reported revenue of $47.4M for the first quarter 2025 (Q1 2025) and +53% from the quarter before. Operating margin was -70.8%, net loss $37.3M (78.7% of revenue).
Angel Studios, Q1 2025: revenue $47.4M, operating margin -70.8%, net loss $37.3M, operating cash flow −$342K. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $47.4M | +53% | — |
| Operating profit | −$33.6M | — | — |
| Net earnings | −$37.3M | — | — |
| Operating cash flow | −$342K | — | — |
What changed
Revenue was $47.4M in Q1 2025, up 53% from the previous quarter.
Operating costs exceeded revenue by $33.6M, an operating margin of -70.8%. The quarter ended with a net loss of $37.3M, wider than the previous quarter's $3.4M loss. Minority interests bore $37.2M of it: to shareholders the quarter was a loss of $102K.
Operating cash flow was −$342K. Non-cash charges added back $2.2M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items added $32.1M.
Questions
What was Angel Studios' revenue in the first quarter 2025?
Angel Studios (ANGX) reported revenue of $47.4M for the first quarter 2025 (Q1 2025) and +53% from the quarter before.
Was Angel Studios profitable in the first quarter 2025?
Operating loss was $33.6M (-70.8% of revenue) and net loss $37.3M.
Source: Angel Studios 10-Q on SEC EDGAR.