Angel Studios Inc. (Class A) (ANGX) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$3.58 -4.02% NYSE β€’ Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $3.55

Angel Studios Inc. (Class A) (ANGX) carries a Roarable Rating of E (Strong Sell) with 20/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE E β€’ RED ALERT Cap $668.6M
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β–Ό

As of 2026-11-03, Angel Studios Inc. (Class A) (NYSE: ANGX) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 20/100 at a spot price of $3.58 (-4.02% 1D, market cap $668.6M). Pillar breakdown: Fundamental Cash Engine 4/20, Institutional 13F & Options Flow 5/20, Executive Insider Alignment 5/20, FRED Macro Regime Fit 3/20, and SEC Balance-Sheet Forensics 3/20. Active quantitative signal LIQUIDITY_TAILWIND (BULLISH, conviction undefined/100) notes: undefined.

βœ“ Pre-computed one-to-many AI Quant brief
πŸ€– Ellis Vennor β€’ AI Peer & Flow Quant (Click for Instant Brief) How does ANGX compare to MCS and FUBO in the Communication Services sector?
β–Ό

Within the Communication Services sector (Movies/Entertainment), ANGX carries a Roarable E (20/100 RQD), trailing P/E of N/A, gross margin of 61.2%, and ROIC of -35.0%. By comparison, MCS (Marcus Corporation) holds a D- grade (43/100 RQD, P/E 68.2x, ROIC 2.3%, cap $825.5M) and FUBO (FuboTV Inc. (Class A)) posts a D grade (45/100 RQD, P/E N/A, ROIC β€”, cap $832.1M). Among the 5-stock peer group, MCS leads on earnings multiple (68.2x) while MCS leads on capital efficiency (2.3% ROIC).

βœ“ Pre-computed one-to-many AI Quant brief
πŸ€– Gideon Ashmere β€’ AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for ANGX?
β–Ό

Per ANGX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001865200), Angel Studios Inc. (Class A) generated $321.6M in revenue (+233.2% YoY), -$170.5M in net income, and -$83.3M in free cash flow against $241.4M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Communication Services with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

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INTERACTIVE SCENARIO DECK:
πŸ›‘οΈ Portfolio Crash X-Ray
EXT / AFTER-HRS: $3.55 (-0.91%)🧬 Dilution Drag (+2.48% YoY Shares)βš™οΈ Cash Engine: 4/20 (E) β€’ 0% FCF Margin
Verify 90D Bucket Audit β†’
πŸ“Š Historical Track Record Warning: Scores below 50 (20/100 Β· E) historically underperformed SPY in 71% of rolling 90-day windows (-11.8% avg 90D alpha vs SPY β€’ 29.0% hit rate).
Audit Bucket Track Record β†’
RQD QUANT TACHOMETERRED ALERT β€’ E
025507510020
3-of-3 JEV AI Jury Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) β€” not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E Β· Rk E
Cash (4)Whales (5)SEC (5)Macro (3)CEO (3)
Each axis scored 0–20
12M PRICE TARGET CONE-17% Base Target
$7 Bull$3 Base$2 Bear
πŸ“¬ FREE ANGX RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: β€” (No Active Options Snapshot on file for ANGX)Realized 20D OHLCV Swing Band: Β±12.2%
Deterministic 5-Pillar Attribution (20/100 Composite)
πŸ” WHY ANGX SCORES 20/100 (E) β€” TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
β–² #1 Bullish Driver: Whale & Options Positioning+5/20 pts (25% of score)

20D Institutional Volume Accumulation (Β±12.2% realized swing band)

β–² #2 Bullish Driver: SEC 10-K Forensic Risk+5/20 pts (25% of score)

Altman Z-Score 0.20 (DISTRESS RISK (<1.8)) β€’ Piotroski F-Score 3/9

β–Ό #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+2.48% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

πŸ“ˆ PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 β†’ Q2 β†’ Q3 β†’ Current
Q1 (-3Q)
28
Grade E$3.73-7.2% Next Q
Q2 (-2Q)
25
Grade E$3.46+11.8% Next Q
Q3 (-1Q)
23
Grade E$3.87-7.5% Next Q
Current
20
Grade E$3.58-11.8% Hist 90D Ξ±
Trajectory: E (28) β†’ E (20)Full Audit β†’
βš”οΈ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

βš”οΈ Adversarial Opposing Case: What Could Spark a ANGX Turnaround Squeeze

Gideon Ashmere Forensic Desk β†’

While ANGX currently carries a cautious 20/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

πŸš€ Contrarian Squeeze Trigger #1

Established market leader in Communication Services with deep daily trading liquidity.

πŸš€ Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($4.32) and Max Pain ($3.76) forces dealer call-delta covering toward $7.12.

πŸš€ Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+2.48% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $ANGXβ€’ $2.4M Crowd Pool β€’ Kalshi / Polymarket Composite
Contract: β€œANGX Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL β€’ FY 2025 (10-K)

How ANGX Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$0 (0% FCF Margin)
Revenue$321.6MGross Profit $196.7M (61.2%)Cost of Sales $124.9MOp Profit $0 (0%)OpEx (R&D/SG&A) $196.7MNet Profit$0 (0%)Tax/Other $0

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

β–  Revenueβ–  Net Profitβ–  Free Cash Flow
FY23
Rev $202.4M
FY24
Rev $96.5M
FY25
Rev $321.6M
Fiscal YearRevenueGross MarginOp MarginNet ProfitFree Cash FlowROIC %
FY 2025$321.6M61.2%-51%-$170.5M-$83.3M-45%
FY 2024$96.5M54%-80%-$88.3M-$51.3M-45%
FY 2023$202.4M61.2%6.1%$13.4M$15.2M-35%
ON-DEMAND RQD QUANT WORKSHOP β€’ SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring ANGX)

  • βœ“Walkthrough of ANGX's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • βœ“3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • βœ“Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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ANGX // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +18.15%πŸ“ HORIZONTAL RANGE
2026-11-03O $3.73H $3.73L $3.58C $3.58VOL 1.33M
RES: $6.86SUP: $3.01SMA50: $4.32SMA200: $3.68
$5.99$5.00$4.02$3.04$2.05RES $6.86SUP $3.01$3.582026-05-042026-06-172026-08-042026-09-182026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

ANGX Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)
8.0%/yr Implied 5Y Growth

vs. +180.0% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on ANGX today. View full Setup Ledger β†’

πŸ¦‹ Documented & Second-Order Butterfly Connections Open Graph β†’

No direct multi-tier Butterfly edges indexed yet for ANGX. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for ANGX today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk β†’
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT β€’ SEC EDGAR XBRL Γ— RQD PEER BENCHMARK

πŸ“Š Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (ANGX)

Communication Services Rank #131 of 132 βš”οΈ MCS vs ANGX Full Matrix β†’

1. Head-to-Head Communication Services Peer Comparison (ANGX vs. MCS, FUBO, STRZ, RDIB)

Industry: Movies/Entertainment (14 Tracked Issuers)

Across 132 tracked Communication Services securities in the Roarable RQD universe, Angel Studios Inc. (Class A) (ANGX) ranks #131 by composite RQD confidence (20/100, grade E) and #72 by equity capitalization ($668.6M). Within this direct 5-issuer industry benchmark cohort, MCS leads on earnings valuation at 68.2x trailing P/E, while MCS leads on capital efficiency and profitability with 2.3% ROIC and β€” gross margin. STRZ currently holds the highest overall quantitative score in the immediate peer group at 53/100 (D+) compared with ANGX at 20/100 (E).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
ANGX ACTIVE
Angel Studios Inc. (Class A)
E 20/100 β€” 61.2% -35.0% -4.02% $668.6M Benchmark Subject
MCS
Marcus Corporation
D- 43/100 68.2x β€” 2.3% -5.41% $825.5M /mcs-vs-angx β†’
FUBO
FuboTV Inc. (Class A)
D 45/100 β€” β€” β€” -4.27% $832.1M /fubo-vs-angx β†’
STRZ
Starz Entertainment Corp.
D+ 53/100 β€” β€” β€” +1.61% $381.2M /strz-vs-angx β†’
RDIB
Reading International Inc (Class B)
E 21/100 β€” β€” -35.0% +3.85% $247.2M /rdib-vs-angx β†’

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K β€’ FILED 2025-12-31 β€’ CIK 0001865200

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Angel Studios Inc. (Class A) (ANGX) reported GAAP revenue of $321.6M (+233.2% vs. FY2024 revenue of $96.5M , and +58.8% cumulative change since FY2023) , GAAP net income of -$170.5M, operating cash flow of -$83.3M, and free cash flow of -$83.3M (-62.5% YoY). On the balance sheet, ANGX closed FY2025 with $241.4M in total assets against $0 in total debt (Altman Z-Score: 0.20, Piotroski F-Score: 3/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $321.6M -$170.5M -$83.3M -$83.3M $241.4M β€”
FY2024 (FY) 2024-12-31 $96.5M -$88.3M -$51.3M -$51.3M $111.4M β€”
FY2023 (FY) 2023-12-31 $202.4M $13.4M $15.2M $15.2M β€” β€”

3. ANGX Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

βœ“ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is ANGX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Angel Studios Inc. (Class A) (NYSE: ANGX) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 20/100 at a spot price of $3.58 (-4.02% 1D, market cap $668.6M). Pillar breakdown: Fundamental Cash Engine 4/20, Institutional 13F & Options Flow 5/20, Executive Insider Alignment 5/20, FRED Macro Regime Fit 3/20, and SEC Balance-Sheet Forensics 3/20. Active quantitative signal LIQUIDITY_TAILWIND (BULLISH, conviction undefined/100) notes: undefined.

How does ANGX compare to MCS and FUBO in the Communication Services sector?

Within the Communication Services sector (Movies/Entertainment), ANGX carries a Roarable E (20/100 RQD), trailing P/E of N/A, gross margin of 61.2%, and ROIC of -35.0%. By comparison, MCS (Marcus Corporation) holds a D- grade (43/100 RQD, P/E 68.2x, ROIC 2.3%, cap $825.5M) and FUBO (FuboTV Inc. (Class A)) posts a D grade (45/100 RQD, P/E N/A, ROIC β€”, cap $832.1M). Among the 5-stock peer group, MCS leads on earnings multiple (68.2x) while MCS leads on capital efficiency (2.3% ROIC).

What are the biggest fundamental strengths and SEC risk factors for ANGX?

Per ANGX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001865200), Angel Studios Inc. (Class A) generated $321.6M in revenue (+233.2% YoY), -$170.5M in net income, and -$83.3M in free cash flow against $241.4M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Communication Services with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

Where is ANGX trading relative to its 50-day, 200-day, and 52-week technical levels?

ANGX last traded at $3.58 (-4.02% on volume of 1,333,494 shares), positioning the stock -17.13% below its 50-day simple moving average ($4.32) and -2.72% below its 200-day simple moving average ($3.68). Across its 52-week range of $2.05 to $6.78, ANGX sits at the 32.3% percentile with a 14-day RSI of 40.6 (NEUTRAL RANGE) and an implied next-earnings move of Β±12.2% ($3.14 to $4.02).

ANGX Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS β€’ SEC EDGAR Γ— CBOE Γ— FRED

How profitable is Angel Studios Inc. (Class A) (ANGX)?

In FY 2025 (10-K), ANGX converted $321.6M of revenue into a 61.2% gross margin, 0% operating margin, and $0 in free cash flow (0% FCF margin).

ROARABLE RATING BRIEF β€’ RQD 20/100 (E) βœ“ STAGE-C NUMBER FIREWALL VERIFIED

ANGX β€” Angel Studios Inc. (Class A): What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5
As of: 2026-11-02T15:33:45Z

Roarable Rating Brief: What This Means to a Prospective Investor

Per the Roarable RQD rating, ANGX carries an RQD Score of 25 with a letter grade of E, labeled "Roarable Strong Sell β€” Forensic Risk / Avoid." The five pillars are scored as follows:

  • Fundamental Cash Engine: 4 / 20. Per the RQD rating, this pillar reflects ROIC of -35% and an FCF yield of -11.96%. For a prospective investor, this means the business is not currently generating returns on invested capital or free cash flow to support its valuation on a cash basis.
  • Whale 13F Flow: 5 / 20. Per the RQD rating, this pillar reflects institutional accumulation and options positioning. The underlying 13F detail is not itemized in the source data, so the score is the only available evidence of institutional posture.
  • Insider Conviction: 3 / 20. Per the RQD rating, this pillar reflects SEC Form 4 and Congressional PTR cluster flow. The individual transactions are not itemized in the source data, but the low score signals weak insider conviction in the rating's framework.
  • Macro Regime Fit: 8 / 20. Per the RQD rating, this pillar reflects a Beta of 1.0 and sector sensitivity. For a prospective investor, the stock is assessed as moving in line with the broad market, with sector sensitivity contributing to a weak score.
  • Forensic Balance Sheet: 5 / 20. Per the RQD rating, this pillar reflects an Altman Z-Score of 0.2, a Piotroski F-Score of 3/9, and a Debt/Equity ratio of 0.5. A low Altman Z-Score and Piotroski F-Score point to elevated financial distress and weak fundamental quality.

Taken together, the pillar scores indicate that the upside case relies on a turnaround in cash generation that the current financial data does not yet show. The valuation tradeoff is that the market cap of $696.6M is being carried by a business reporting negative operating and net margins in the most recent period. Investors evaluating the stock today face a Strong Sell framework rating driven by forensic risk rather than a single isolated metric.

Business

Per the profile, Angel Studios Inc. (Class A) (ANGX) is a NYSE-listed issuer in the Communication Services sector, operating in the Movies/Entertainment industry. Per the market data, the company reports a gross margin of 61.2%, indicating that its content and distribution economics retain a meaningful share of revenue before operating costs. Per the SEC financials, FY 2025 revenue was $321.6M. The source data does not describe specific products, customer segments, or monetization mechanisms beyond the sector and industry classification.

Financial Trend

PeriodRevenueOperating IncomeNet IncomeEPSFCFCashDebt
FY 2025$321.6M$-164.1M$-170.5MN/A$-83.3M$44.1MN/A
FY 2024$96.5M$-86.7M$-88.3MN/A$-51.3M$7.2MN/A
FY 2023$202.4M$12.4M$13.4MN/A$15.2MN/AN/A

Per the SEC financials, the company moved from positive operating and net income in FY 2023 to losses of $-164.1M operating and $-170.5M net in FY 2025, with FCF turning negative in both FY 2024 and FY 2025. Per the market data, operating margin is -51% and net margin is -53%, with ROIC at -35%. Per the RQD rating, the Altman Z-Score is 0.2 and the Piotroski F-Score is 3/9, while the Debt/Equity ratio is 0.5. Per the SEC financials, cash rose from $7.2M in FY 2024 to $44.1M in FY 2025, while debt is not available in source data.

Recent Catalysts & News Wire Analysis

  • Analyst rating upgrade to Buy: Per the recent news wire (Yahoo Finance), an upgrade to Buy is reported, flagged as a catalyst (GREEN).
  • Consensus price target: Per the recent news wire (MarketBeat), a consensus price target of $8.75 according to brokerages is reported.
  • Director share activity: Per the recent news wire (Stock Titan), director Gay holds 10,593 shares directly after a 2,649-share award conversion, and a separate director holds 60,946 shares directly after converting a stock grant.
  • General market wire: Multiple YELLOW-flagged market reports from Yahoo! Finance Canada and MarketBeat cover market action and institutional positioning without itemized detail in the source data.
  • Proprietary macro signal: Per the Butterfly Supply-Chain Graph, a LIQUIDITY_TAILWIND signal prints a MACRO TAILWIND SCORE of 96/100 (BULLISH, severity 94). The signal notes true net liquidity contracted to $5,746B on a 4-week rate of change of -0.64%, with a 2 bps shift in ICE BofA high-yield OAS, while ANGX shows a z-score of 6.1 and a net liquidity elasticity beta of 6.00x (r=-0.26).

Risk watch: The bullish macro signal conflicts with the RQD rating's Strong Sell verdict and with the negative cash flow and margin data. The signal's elevated score is driven by sensitivity metrics rather than by reported fundamentals, so it should be weighed against the forensic pillars.

Open Questions

  • What is the company's debt balance, given that debt is listed as N/A in every reported period while Debt/Equity is cited as 0.5?
  • What drove the swing from positive FY 2023 operating income to the $-164.1M operating loss in FY 2025, and what is the path to positive free cash flow?
  • What do the Whale 13F and insider Form 4 transactions actually consist of, since the RQD rating scores these pillars but the holder data is not itemized?
  • Which revenue streams generated the FY 2025 revenue of $321.6M, and how sustainable is that level given the FY 2024 revenue of $96.5M?
  • What is the basis for the analyst upgrade to Buy and the $8.75 consensus price target, given that no analyst data is provided in the source data?

ANGX Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Angel Studios Inc. (Class A) (ANGX) β€’ Click "Debate This Headline" to argue it in the Roar Pit below

πŸ’¬ Jump to ANGX Debate Forum (3) ↓
πŸ”₯ THE ROAR PIT β€’ LIVE COMMUNITY DEBATE 3 Active Posts & Replies

ANGX Bull vs. Bear Conversation Board β€” What's Your Call at $3.58?

πŸ‚ 33% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON ANGX 🐻 67% BEARISH CONVICTION
1. Pick Your Side on ANGX:
πŸ’‘ Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
RO RoarDesk_Moderator Roarable Research Desk 🐻 BEARISH 🎯 Target: $3.28 (-12.1%)
πŸ“Œ Pinned Debate

πŸ”₯ Official Bull vs. Bear Debate: Is ANGX (E β€’ RQD 25/100) a Buy at $3.73?

Welcome to the ANGX (Angel Studios Inc. (Class A)) Roar Pit. Current RQD Composite is 25/100 (Roarable Strong Sell β€” Forensic Risk / Avoid) in Movies/Entertainment. Bulls point to operating leverage and sector positioning, while bears focus on macro rate sensitivity and margin execution. Pick your side (πŸ‚ Bull or 🐻 Bear) and drop your price target below.

RE RedlineAuditor Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $3.02 (-19.0%)
Spot @ $3.73

Pump the brakes on ANGX β€” check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on ANGX, but look at what you are paying: current EV/EBITDA multiples with 61.2% gross margins. Unless Angel Studios Inc. (Class A) expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

DE DeltaGamma_99 Verified K Arena Trader πŸ‚ BULLISH 🎯 Target: $4.36 (+16.9%)
Spot @ $3.73

ANGX cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on ANGX, the market is fixating on short-term headline noise in Movies/Entertainment and ignoring the balance sheet and cash flow trajectory. At $3.73 (52-wk range $2.05 - $6.78), any beat on forward guidance forces shorts and underweight funds to chase.

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