Angel Studios (ANGX)
Market Price (10/31/2026): $0 | Market Cap: $-Sector: Communication Services | Industry: Movies & Entertainment
Angel Studios (ANGX)
Market Price (10/31/2026): $0Market Cap: $-Sector: Communication ServicesIndustry: Movies & Entertainment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 275% Megatrend and thematic driversMegatrends include Social Media & Creator Economy, Digital Content & Streaming, and Niche & Values-Based Media. Themes include Creator Economy Monetization, Show more. | Weak multi-year price returns2Y Excs Rtn is -106%, 3Y Excs Rtn is -157% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -76 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -21% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.5% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19% Key risksANGX key risks include [1] a history of significant unprofitability and a scrutinized valuation, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 275% |
| Megatrend and thematic driversMegatrends include Social Media & Creator Economy, Digital Content & Streaming, and Niche & Values-Based Media. Themes include Creator Economy Monetization, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -106%, 3Y Excs Rtn is -157% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -76 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -21% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.5% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19% |
| Key risksANGX key risks include [1] a history of significant unprofitability and a scrutinized valuation, Show more. |
Qualitative Assessment
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Angel Studios (ANGX) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Persistent Net Losses and Managed Adjusted EBITDA Loss.
Angel Studios reported a net loss of $23.8 million for fiscal Q2 2026 (which ended June 30, 2026), an increase from the $15.7 million loss in fiscal Q2 2025. Although its adjusted EBITDA loss improved to $11.7 million in fiscal Q2 2026 from $17.5 million year-over-year, it marked a decline from a profit in fiscal Q1 2026. The company has also reaffirmed its commitment to keep its full-year adjusted EBITDA loss below $25 million. This ongoing unprofitability, despite some improvements in adjusted EBITDA, likely acted as a ceiling for the stock price, preventing significant upward movement as investors awaited a clear path to sustained profitability.
2. Market Anticipation of Fiscal Q3 2026 Earnings.
The stock movement since June 30, 2026, particularly through fiscal Q3 2026 (July 1 to September 30, 2026, as Angel Studios' fiscal year ends December 31st) and October 2026, occurred ahead of the fiscal Q3 2026 earnings release. Angel Studios is scheduled to release these results on November 10, 2026. This period of anticipation often leads investors to hold positions, resulting in the stock remaining largely at the same level as the market awaited concrete financial updates beyond the fiscal Q2 2026 report.
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Angel Studios (ANGX) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Persistent Net Losses and Managed Adjusted EBITDA Loss.
Angel Studios reported a net loss of $23.8 million for fiscal Q2 2026 (which ended June 30, 2026), an increase from the $15.7 million loss in fiscal Q2 2025. Although its adjusted EBITDA loss improved to $11.7 million in fiscal Q2 2026 from $17.5 million year-over-year, it marked a decline from a profit in fiscal Q1 2026. The company has also reaffirmed its commitment to keep its full-year adjusted EBITDA loss below $25 million. This ongoing unprofitability, despite some improvements in adjusted EBITDA, likely acted as a ceiling for the stock price, preventing significant upward movement as investors awaited a clear path to sustained profitability.
2. Market Anticipation of Fiscal Q3 2026 Earnings.
The stock movement since June 30, 2026, particularly through fiscal Q3 2026 (July 1 to September 30, 2026, as Angel Studios' fiscal year ends December 31st) and October 2026, occurred ahead of the fiscal Q3 2026 earnings release. Angel Studios is scheduled to release these results on November 10, 2026. This period of anticipation often leads investors to hold positions, resulting in the stock remaining largely at the same level as the market awaited concrete financial updates beyond the fiscal Q2 2026 report.
3. Positive Operational Growth Offset by Valuation Concerns.
Despite several positive company-specific developments, the stock remained largely flat. Angel Studios announced that its Angel Guild surpassed 3 million paying members in September 2026, doubling in just over one year. Additionally, the company acquired worldwide rights to new content, such as Michael Keaton's "Rode to Ruin" in September 2026. While analysts maintained positive ratings and price targets, with B. Riley Securities raising its target to $9 in September 2026, the actual stock price did not fully reflect these optimistic valuations. This suggests that investors may be weighing these operational successes against ongoing profitability challenges and execution risks, dampening enthusiasm for a significant share price increase without more substantial financial evidence.
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Stock Movement Drivers
Fundamental Drivers
The -2.5% change in ANGX stock from 6/30/2026 to 10/30/2026 was primarily driven by a -17.5% change in the company's P/S Multiple.| (LTM values as of) | 6302026 | 10302026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.67 | 3.58 | -2.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 281 | 362 | 28.7% |
| P/S Multiple | 2.2 | 1.8 | -17.5% |
| Shares Outstanding (Mil) | 169 | 184 | -8.1% |
| Cumulative Contribution | -2.5% |
Market Drivers
6/30/2026 to 10/30/2026| Return | Correlation | |
|---|---|---|
| ANGX | -2.5% | |
| Market (SPY) | 1.2% | 22.1% |
| Sector (XLC) | -6.7% | 19.9% |
Fundamental Drivers
The 17.4% change in ANGX stock from 3/31/2026 to 10/30/2026 was primarily driven by a 94.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312026 | 10302026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.05 | 3.58 | 17.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 186 | 362 | 94.3% |
| P/S Multiple | 2.6 | 1.8 | -30.7% |
| Shares Outstanding (Mil) | 161 | 184 | -12.8% |
| Cumulative Contribution | 17.4% |
Market Drivers
3/31/2026 to 10/30/2026| Return | Correlation | |
|---|---|---|
| ANGX | 17.4% | |
| Market (SPY) | 16.5% | 27.4% |
| Sector (XLC) | -9.7% | 21.6% |
Fundamental Drivers
The -38.4% change in ANGX stock from 9/30/2025 to 10/30/2026 was primarily driven by a -63.6% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 10302026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.81 | 3.58 | -38.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 186 | 362 | 94.3% |
| P/S Multiple | 5.0 | 1.8 | -63.6% |
| Shares Outstanding (Mil) | 161 | 184 | -12.8% |
| Cumulative Contribution | -38.4% |
Market Drivers
9/30/2025 to 10/30/2026| Return | Correlation | |
|---|---|---|
| ANGX | -38.4% | |
| Market (SPY) | 14.4% | 22.5% |
| Sector (XLC) | -14.8% | 16.7% |
Fundamental Drivers
nullnull
Market Drivers
9/30/2023 to 10/30/2026| Return | Correlation | |
|---|---|---|
| ANGX | ||
| Market (SPY) | 82.9% | 20.2% |
| Sector (XLC) | 57.2% | 16.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ANGX Return | - | - | - | - | -64% | -23% | -72% |
| Peers Return | -7% | -52% | 8% | -9% | 17% | -29% | -64% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| ANGX Win Rate | - | - | - | - | 25% | 50% | |
| Peers Win Rate | 35% | 38% | 48% | 45% | 43% | 32% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ANGX Max Drawdown | - | - | - | - | - | -55% | |
| Peers Max Drawdown | -44% | -65% | -40% | -49% | -47% | -43% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PARA, WBD, DIS, NFLX, AMCX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/30/2026 (YTD)
How Low Can It Go
ANGX has limited trading history. Below is the Communication Services sector ETF (XLC) in its place.
| Event | XLC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -17.7% | -18.8% |
| % Gain to Breakeven | 21.5% | 23.1% |
| Time to Breakeven | 63 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.7% | -24.5% |
| % Gain to Breakeven | 63.1% | 32.4% |
| Time to Breakeven | 470 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.1% | -33.7% |
| % Gain to Breakeven | 43.2% | 50.9% |
| Time to Breakeven | 112 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.2% | -19.2% |
| % Gain to Breakeven | 25.3% | 23.8% |
| Time to Breakeven | 109 days | 105 days |
In The Past
State Street Communication Services Select Sector SPDR ETF's stock fell -17.7% during the 2025 US Tariff Shock. Such a loss loss requires a 21.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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ANGX has limited trading history. Below is the Communication Services sector ETF (XLC) in its place.
| Event | XLC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.7% | -24.5% |
| % Gain to Breakeven | 63.1% | 32.4% |
| Time to Breakeven | 470 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.1% | -33.7% |
| % Gain to Breakeven | 43.2% | 50.9% |
| Time to Breakeven | 112 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.2% | -19.2% |
| % Gain to Breakeven | 25.3% | 23.8% |
| Time to Breakeven | 109 days | 105 days |
In The Past
State Street Communication Services Select Sector SPDR ETF's stock fell -17.7% during the 2025 US Tariff Shock. Such a loss loss requires a 21.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Angel Studios (ANGX)
Angel Studios (ANGX) is a pioneering media company that focuses on producing and distributing crowdfunded film and television content. It operates a unique "Angel investor" model, where viewers can invest in projects and participate in the success of the content they help create. This approach allows the company to develop and release stories that resonate with specific audiences, often bypassing traditional Hollywood studio systems.
The company's main products and services revolve around its streaming platform and content library. Angel Studios offers a wide array of original series and films, famously including titles like "The Chosen" and "Sound of Freedom," which have achieved significant success through its distinctive funding and distribution model. Beyond original content, the platform also provides a space for community engagement, allowing viewers to contribute financially to the marketing and development of future projects through its "Pay It Forward" system.
Angel Studios primarily serves audiences seeking inspiring, family-friendly, and values-driven entertainment. Its customer base also includes a dedicated community of "Angel investors" who are interested in directly supporting the creation and distribution of meaningful stories. Furthermore, the company offers an alternative pathway for independent content creators looking to fund and distribute their work directly to a passionate and engaged audience without traditional studio backing.
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Neal Harmon, Chief Executive Officer
Neal Harmon is the CEO and co-founder of Angel Studios, which emerged from the bankruptcy reorganization of VidAngel. He has a history of launching multiple startup companies, including co-founding Orabrush and the viral video ad agency Harmon Brothers. Harmon Brothers became known for boosting sales for brands like Squatty Potty, Poo-Pourri, and Purple Mattress through viral videos. VidAngel, a content filtering service he co-founded with his brothers, was involved in a high-profile lawsuit with major Hollywood studios, eventually leading to a settlement in 2020. The filtering service business was subsequently sold, and the company rebranded as Angel Studios in 2021.
Scott Klossner, Chief Financial Officer
Scott Klossner is a public company veteran with over 35 years of experience. Prior to joining Angel Studios, he served as the CFO for field technician platform Field Nation. He also held the CFO position and was a member of the board of directors at Mercato Partners Acquisition Corporation, a special purpose acquisition company (SPAC), which merged with Nuvini Ltd. in 2023. Klossner continues to serve on Nuvini Ltd.'s board. His experience includes serving as CFO for fast-growing companies, such as online retailer Backcountry.com, which was acquired by Liberty Media Corporation in 2007.
Jordan Harmon, President
Jordan Harmon is a co-founder and the President of Angel Studios. Before his role at Angel Studios, he co-founded and served as Head of Marketing at Cove, a national home security company, which he helped grow into a $100 million business in four years. He also previously held the position of Chief Marketing Officer at VidAngel and worked as a marketing consultant for Harmon Brothers.
Jeffrey Harmon, Chief Content Officer
Jeffrey Harmon is a co-founder and the Chief Content Officer of Angel Studios. He co-founded Orabrush, Inc. in 2009 and served as its CEO, with Orabrush winning startup of the year in 2010. While at Orabrush, he is credited with having contributed to the invention of the "skip ad" button for Google/YouTube. Jeffrey also co-founded the Harmon Brothers ad agency with his brothers.
Elizabeth Ellis, Chief Operating Officer
Elizabeth Ellis serves as the Chief Operating Officer of Angel Studios.
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Here are the key risks to Angel Studios' business:
- Financial Health and Path to Profitability: Angel Studios faces significant financial challenges, evidenced by substantial net losses, negative profitability metrics such as Return on Equity (ROE) and Return on Assets (ROA), and liquidity concerns. Despite impressive revenue growth, expenses are scaling faster than revenue, leading to investor skepticism regarding the company's ability to achieve sustainable profitability. The company's Altman Z-Score also indicates it is in a financial distress zone, suggesting a potential for bankruptcy.
- Reliance on Unique Community-Driven Business Model and Content Acceptance: Angel Studios' business model is heavily dependent on its "Angel Guild" community for content selection, funding, and audience engagement, making its success closely tied to public acceptance rates of its "values-driven" content. This unique approach can lead to rapid fluctuations in revenue based on content popularity and makes the business model difficult to evaluate compared to traditional entertainment companies. Maintaining a positive reputation for content quality and retaining its subscriber base are crucial, as any reputational issues or low content acceptance could negatively impact operational results and subscriber growth.
- Intense Competition and Rapid Technological Change: Angel Studios operates in a highly competitive entertainment industry, facing strong competition from well-capitalized streaming giants and traditional entertainment companies. The rapid pace of technological change in the video industry necessitates continuous investment in technology enhancements, which could significantly influence Angel Studios' growth trajectory and market position.
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- The U.S. video streaming market is projected to grow from an estimated $43 billion in 2025 to $195.6 billion by 2034.
- Globally, the video streaming market is expected to expand from $157.7 billion in 2025 to $868.9 billion by 2034.
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Here are 3-5 expected drivers of future revenue growth for Angel Studios (ANGX) over the next 2-3 years:
- Growth in Angel Guild Membership: Angel Studios' unique community-driven model, powered by its Angel Guild members, is a significant driver of recurring revenue. The company has seen substantial increases in its Guild membership, expanding from approximately 550,000 members at the end of 2024 to 2.2 million by the end of 2025, representing a 300% year-over-year increase. Guild membership revenue accounted for a significant portion of total revenue in 2025, and the company expects this trend to continue.
- Expansion of Theatrical Releases and Streaming Content Library: Angel Studios plans to continue growing its content offerings through a robust slate of theatrical releases and an expanded streaming library. The company had successful theatrical releases in 2025, including "DAVID" and "The King of Kings," and has announced upcoming films like "Animal Farm," "Young Washington," and "The Fellowship" for 2026. Furthermore, Angel Studios intends to significantly enhance its streaming platform by adding 200 films and over 500 television episodes and specials, aiming to double its content library and increase user engagement.
- Strategic Content Acquisition and Development, Supported by AI-driven Discovery: The company's strategy involves acquiring top-performing franchises and leveraging its AI-driven discovery technology to enhance viewer engagement and content selection. This proprietary platform, combined with the Angel Guild's input, helps identify and greenlight values-driven stories, fostering a sustainable content pipeline.
- International Distribution Expansion: Angel Studios is actively increasing its global reach by forging international distribution partnerships. This expansion into new geographical markets provides an additional avenue for revenue growth by making their content accessible to a broader international audience.
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Share Issuance
- Angel Studios entered into an Equity Distribution Agreement in December 2025, allowing it to offer and sell up to $150,000,000 of its Class A common stock through an "at-the-market" equity program.
- In 2025, the company generated approximately $49.1 million from the sale of 9,266,477 shares of Class A Common Stock to various purchasers, primarily for business management and working capital.
- A Regulation A Offering in September 2025 resulted in gross proceeds of approximately $55.0 million from the sale of 6,688,077 shares of Class A Common Stock.
Inbound Investments
- Angel Studios completed a business combination with Southport Acquisition Corporation, a Special Purpose Acquisition Company (SPAC), in September 2025, becoming a publicly traded company on the NYSE under ANGX with a valuation of $1.6 billion.
- The company secured a $100 million credit facility with Trinity Capital in September 2025, intended to expand the Angel Guild.
Outbound Investments
- In November 2025, Angel Studios acquired three studios (Black Autumn Show, Toothy Cow Productions, and Tuttle Twins Show) through all-stock merger agreements to expand its content portfolio.
- Angel Studios plans to continue acquiring and holding bitcoin as a strategic treasury asset to support its mission of funding filmmakers.
Capital Expenditures
- Capital expenditures for the 12 months ending December 31, 2025, amounted to approximately -$509,424.
- The company is making significant investments in technology and artificial intelligence (AI) to scale the Angel Guild, expand its content slate, and develop AI-enabled products.
- Increased spending on marketing and research and development (R&D) is a primary focus to accelerate content releases and grow its membership.
Peer Outperformance in Movies & Entertainment
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -17.4% | 14.4% | 43.0% | ECHO 313% · TMUS 43% |
| Publishing | 5 | 25.0% | 15.8% | 22.6% | NYT 36% · NWSA 33% |
| Integrated Telecommunication Services | 21 | -14.1% | -0.9% | -25.0% | GSAT 233% · AD 135% · TDS 112% |
| Movies & Entertainment ← | 24 | 14.8% | 47.9% | -31.6% | IMAX 168% · CNK 113% · BATRA 79% |
| Alternative Carriers | 4 | -32.9% | 16.1% | -66.9% | IRDM 19% · LUMN -55% |
| Interactive Home Entertainment | 8 | -45.3% | -35.2% | -70.5% | TTWO 5% · RBLX -49% · PINS -57% |
| Advertising | 18 | -31.2% | -2.6% | -70.8% | APP 133% · OMC 43% · STGW 21% |
| Broadcasting | 14 | -14.2% | -18.8% | -71.6% | FOXA 69% · NXST 35% · SIRI -47% |
| Interactive Media & Services | 32 | -35.9% | -26.4% | -71.6% | META 92% · GOOGL 91% · CARG -4% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 7.89 |
| Mkt Cap | 0.7 |
| Rev LTM | 2,246 |
| Op Inc LTM | 173 |
| FCF LTM | 191 |
| FCF 3Y Avg | 4,724 |
| CFO LTM | 219 |
| CFO 3Y Avg | 5,059 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 14.7% |
| Rev Chg 3Y Avg | 4.0% |
| Rev Chg Q | 6.8% |
| QoQ Delta Rev Chg LTM | 1.6% |
| Op Inc Chg LTM | 7.5% |
| Op Inc Chg 3Y Avg | 27.6% |
| Op Mgn LTM | 7.7% |
| Op Mgn 3Y Avg | 13.4% |
| QoQ Delta Op Mgn LTM | 0.9% |
| CFO/Rev LTM | 9.7% |
| CFO/Rev 3Y Avg | 15.5% |
| FCF/Rev LTM | 8.4% |
| FCF/Rev 3Y Avg | 11.0% |
Price Behavior
| Market Price | $3.58 | |
| Market Cap ($ Bil) | 0.7 | |
| First Trading Date | 01/31/2022 | |
| Distance from 52W High | -45.7% | |
| 50 Days | 200 Days | |
| DMA Price | $4.35 | $3.68 |
| DMA Trend | down | down |
| Distance from DMA | -17.7% | -2.8% |
| 3M | 1YR | |
| Volatility | 74.7% | 85.0% |
| Downside Capture | 177.18 | 258.57 |
| Upside Capture | 118.08 | 164.45 |
| Correlation (S&P 500) | 18.2% | 24.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.29 | 0.75 | 0.88 | 1.76 | 1.54 | -0.78 |
| Up Beta | -4.13 | 2.53 | 1.83 | 1.20 | 0.30 | 0.27 |
| Down Beta | 1.45 | 0.05 | 2.03 | 1.91 | 1.26 | -0.84 |
| Up Capture | -91% | 65% | 84% | 270% | 260% | 27% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 13 | 23 | 33 | 62 | 115 | 118 |
| Down Capture | -213% | -68% | -58% | 157% | 160% | 105% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 8 | 18 | 29 | 59 | 130 | 139 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ANGX | |
|---|---|---|---|---|
| ANGX | -43.6% | 85.0% | -0.30 | - |
| Sector ETF (XLC) | -13.4% | 16.4% | -1.06 | 20.9% |
| Equity (SPY) | 10.9% | 12.8% | 0.52 | 24.1% |
| Gold (GLD) | -2.0% | 28.6% | -0.08 | 8.7% |
| Commodities (DBC) | 48.2% | 20.6% | 1.79 | -4.5% |
| Real Estate (VNQ) | 10.2% | 13.7% | 0.45 | 0.0% |
| Bitcoin (BTCUSD) | -30.3% | 43.5% | -0.71 | 18.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ANGX | |
|---|---|---|---|---|
| ANGX | -22.7% | 110.1% | -0.53 | - |
| Sector ETF (XLC) | 5.5% | 21.0% | 0.18 | 16.0% |
| Equity (SPY) | 12.2% | 17.1% | 0.53 | 20.2% |
| Gold (GLD) | 16.2% | 19.0% | 0.68 | 8.9% |
| Commodities (DBC) | 9.2% | 19.5% | 0.35 | -4.4% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 3.1% |
| Bitcoin (BTCUSD) | 4.8% | 51.6% | 0.28 | 20.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ANGX | |
|---|---|---|---|---|
| ANGX | -12.1% | 110.1% | -0.53 | - |
| Sector ETF (XLC) | 8.0% | 22.1% | 0.39 | 16.0% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 20.2% |
| Gold (GLD) | 11.4% | 16.5% | 0.56 | 8.9% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | -4.4% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.21 | 3.1% |
| Bitcoin (BTCUSD) | 61.7% | 66.2% | 1.01 | 20.1% |
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Earnings Returns History
Updated 10/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | -4.9% | -14.1% | 0.7% |
| 4/30/2026 | 22.6% | 16.3% | 8.6% |
| 3/12/2026 | -17.0% | -31.8% | -51.1% |
| 11/13/2025 | 13.9% | -1.3% | 0.0% |
| SUMMARY STATS | |||
| # Positive | 2 | 1 | 3 |
| # Negative | 2 | 3 | 1 |
| Median Positive | 18.2% | 16.3% | 0.7% |
| Median Negative | -11.0% | -14.1% | -51.1% |
| Max Positive | 22.6% | 16.3% | 8.6% |
| Max Negative | -17.0% | -31.8% | -51.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | -4.9% | -14.1% | 0.7% |
| 4/30/2026 | 22.6% | 16.3% | 8.6% |
| 3/12/2026 | -17.0% | -31.8% | -51.1% |
| 11/13/2025 | 13.9% | -1.3% | 0.0% |
| SUMMARY STATS | |||
| # Positive | 2 | 1 | 3 |
| # Negative | 2 | 3 | 1 |
| Median Positive | 18.2% | 16.3% | 0.7% |
| Median Negative | -11.0% | -14.1% | -51.1% |
| Max Positive | 22.6% | 16.3% | 8.6% |
| Max Negative | -17.0% | -31.8% | -51.1% |
Recent Forward Guidance
Updated 10/26/2026Latest: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA Loss | Reported | -25.00 Mil | Affirmed | Guidance: -25.00 Mil for 2026 | ||||
Prior: Q1 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Streaming Library Titles Added | Reported | 730 | 0 | Affirmed | Guidance: 730 for 2026 | |||
| 2026 Adjusted EBITDA | Reported | -25.00 Mil | 0 | Affirmed | Guidance: -25.00 Mil for 2026 | |||
Insider Activity
Updated 10/27/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sarowitz, Steven I | Direct | Buy | 9142026 | 5.33 | 88,647 | 472,604 | 7,087,899 | Form | |
| 2 | Sarowitz, Steven I | Direct | Buy | 9112026 | 5.28 | 355,998 | 1,879,349 | 6,550,524 | Form | |
| 3 | Sarowitz, Steven I | Direct | Buy | 9112026 | 4.95 | 132,639 | 657,054 | 4,383,247 | Form | |
| 4 | Sarowitz, Steven I | Direct | Buy | 9032026 | 4.27 | 10,979 | 46,925 | 3,214,995 | Form | |
| 5 | Harmon, Neal | Chief Executive Officer | Direct | Buy | 8172026 | 4.28 | 29,193 | 125,005 | 362,787 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sarowitz, Steven I | Direct | Buy | 9142026 | 5.33 | 88,647 | 472,604 | 7,087,899 | Form | |
| 2 | Sarowitz, Steven I | Direct | Buy | 9112026 | 5.28 | 355,998 | 1,879,349 | 6,550,524 | Form | |
| 3 | Sarowitz, Steven I | Direct | Buy | 9112026 | 4.95 | 132,639 | 657,054 | 4,383,247 | Form | |
| 4 | Sarowitz, Steven I | Direct | Buy | 9032026 | 4.27 | 10,979 | 46,925 | 3,214,995 | Form | |
| 5 | Harmon, Neal | Chief Executive Officer | Direct | Buy | 8172026 | 4.28 | 29,193 | 125,005 | 362,787 | Form |
| 6 | Harmon, Jeffrey | Chief Content Officer | Direct | Buy | 8172026 | 4.26 | 51,380 | 219,115 | 1,093,460 | Form |
| 7 | Sarowitz, Steven I | Direct | Buy | 8172026 | 4.26 | 57,922 | 246,806 | 3,158,360 | Form | |
| 8 | Harmon, Jeffrey | Chief Content Officer | Direct | Buy | 8172026 | 4.08 | 178,700 | 729,596 | 837,072 | Form |
| 9 | Sarowitz, Steven I | Direct | Buy | 8142026 | 4.12 | 107,662 | 443,277 | 2,813,363 | Form | |
| 10 | Harmon, Neal | Chief Executive Officer | Direct | Buy | 8142026 | 4.31 | 29,036 | 125,007 | 239,076 | Form |
| 11 | Sarowitz, Steven I | Direct | Buy | 8142026 | 3.71 | 246,153 | 912,317 | 2,133,498 | Form | |
| 12 | Sarowitz, Steven I | Direct | Buy | 5072026 | 3.06 | 321,544 | 982,574 | 998,758 | Form |
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Movies & Entertainment Resources |
| Deadline |
| IndieWire |
| Screen Daily |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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