Angel Studios, Inc. 8-K

What Happened
Angel Studios, Inc. (filed April 10, 2026, Item 8.01) announced preliminary financial estimates for the quarter ended March 31, 2026: expected revenue of $105.0 million to $109.0 million and Adjusted EBITDA of $(4.0) million to $(6.0) million. The company said these are preliminary, subject to quarter‑end close and review, and that final results will be reported on its Q1 2026 earnings call expected in May 2026. The firm also noted Tanner LLP has not audited or reviewed these preliminary estimates.

Key Details

• Preliminary Q1 2026 revenue: $105.0M to $109.0M.
• Preliminary Q1 2026 Adjusted EBITDA: $(4.0)M to $(6.0)M (non‑GAAP).
• Period covered: quarter ended March 31, 2026; earnings call expected in May 2026.
• Adjusted EBITDA excludes interest, taxes, depreciation, amortization, stock compensation, digital asset gains/losses and exceptional items; reconciliation to GAAP net loss not provided (stated to be unavailable without unreasonable effort).

Why It Matters
These preliminary figures give investors an early look at Angel Studios’ quarterly revenue and operating performance ahead of audited GAAP results. Because the numbers are non‑GAAP and preliminary, they may change materially after the company completes its close and the independent review; investors should wait for the formal Q1 results and any GAAP reconciliation released on the earnings call.