Angel Studios reported second quarter revenue of $111.7 million, up 27.5% year-over-year, and a net loss per share of $0.129, compared to a loss of $0.106 in the prior-year period. The results beat analyst estimates for both revenue and EPS, driven by strong growth in the company's membership program.
Key Highlights
- Angel Guild paying membership nearly doubled year-over-year, growing 99.2% to 2.61 million.
- Guild revenue surged 93.8% to $90.7 million, representing 81.2% of total company revenue.
- The company improved marketing efficiency, with Guild selling & marketing expense as a percentage of Guild revenue falling to 52.8% from 71.6% a year ago.
- Angel Studios generated positive operating cash flow of $16.9 million, a $27.5 million improvement from the negative $10.6 million in the same quarter last year.