Why Angel Studios Stock Dropped Today

By Rich Smith – Mar 13, 2026 at 10:15AM ESTKey PointsRecent SPAC IPO Angel Studios beat on sales but missed on Q4 earnings last night.Angel's sales more than tripled year over year, but its losses doubled.Angel Studios (ANGX 9.08%) stock tumbled 11.2% 9:40 a.m. ET Friday after reporting mixed Q4 earnings. According to data from TheFly.com, only one Wall Street analyst had published an earnings forecast for Angel Studios, which held a SPAC IPO last September, and has only reported earnings (now) twice since. This analyst expected Angel to report a $0.20 per share loss on $92.6 million in revenue. Angel actually reported $0.46 in losses on sales of $109.9 million -- better sales than expected, but worse earnings. Image source: Getty Images. A short history of Angel Studies Angel Studios began life as a private company called VidAngel, publishing and selling edited versions of Hollywood blockbusters to remove offensive language and violence. Sued by Disney (DIS +0.64%) and others over copyright, VidAngel went bankrupt in 2020, only to come back as a private, crowd-funded movie producer called Angel Studios -- then parlaying this support into an IPO late last year. The company today boasts more than 2 million active "paying guild members" -- some of whom also own Angel stock. It's also the company behind movies such as Sound of Freedom and David, as well as the children's series Tuttle Twins. ExpandNYSE: ANGXAngel StudiosToday's Change(-9.08%) $-0.41Current Price$4.05Key Data PointsMarket Cap$753MDay's Range$3.93 - $4.2152wk Range$2.99 - $60.00Volume19KAvg Vol850KGross Margin55.14% How is Angel stock doing today? Angel stock soared immediately after its IPO -- then crashed. After hitting a post-IPO high of $16 a share, the stock has traded in the mid-single digits for most of the past six months. So what are the chances Angel will recover? The earnings results hold some promise. Q4 revenue soared 254% year over year, and full-year revenue was up 233%. Losses roughly doubled year over year, but Angel says adjusted EBITDA losses will "narrow" in 2026. That's not a promise of real GAAP profits, though. Until those arrive, Angel stock will remain vulnerable to further declines.About the AuthorRich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”TMFDittyX@RichSmithFoolStocks MentionedAngel StudiosNYSE: ANGX$4.06(-9.08%)-$0.41Walt DisneyNYSE: DIS$100.34(+0.91%)+$0.91*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.