Accessibility StatementSkip Navigation Angel Studios, Inc. to Trade Under NYSE Ticker Symbol "ANGX" PROVO, Utah, Sept. 10, 2025 /PRNewswire/ -- Angel Studios, Inc. ("Angel" or the "Company"), an unprecedented media and technology company driven by 1.5 million grassroots Angel Guild members championing values-based stories, today announced the completion of Angel's business combination with Southport Acquisition Corporation (OTC: PORT) ("Southport"), a special purpose acquisition company. The combined compan ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 increased by 10% year-over-year to $7,300,000, slightly above the midpoint of guidance [7][16] - Recurring revenue rose by 15% to $4,400,000, driven by growth in consumables and service contracts [17] - Gross margins improved to 4%, a seven percentage point increase from the prior year, marking the fourth consecutive quarter of positive gross margins [8][17] Business Line Data and Key Metrics Changes - Product revenue increased by 6% to $4,800,000, supported by mid-teens growth in consumables and higher software sales [16] - Service revenue grew by 18% to $2,500,000, attributed to higher field service activity and increased contract revenue [17] - Four GrowthDirect systems were placed in Q2, maintaining guidance despite delays in customer site readiness [8][16] Market Data and Key Metrics Changes - The company is well-positioned to benefit from significant investments in new pharmaceutical manufacturing capacity in the US, which is expected to incorporate advanced technologies [11][12] - Global trade dynamics are creating uncertainty in customer purchase decisions, particularly for larger capital investments [11][12] Company Strategy and Development Direction - The company announced a new $45,000,000 term loan facility to support long-term strategy and positive cash flow [6][7] - The partnership with MilliporeSigma is expected to enhance product innovation and gross margin expansion over the long term [9][10] - The company is focusing on operational improvements and cost reduction initiatives to drive gross margin expansion [13][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about ongoing industry trends and customer support for automation and new technologies [11][12] - There is cautious optimism regarding the timing and scale of customer purchase decisions due to global trade dynamics [12][21] - The company expects to finish the year toward the low end of its previous guidance range for system placements due to near-term uncertainties [19][20] Other Important Information - The company plans to participate in several industry events, including the annual PDA Micro Conference and PharmaLab Congress, to showcase the GrowthDirect platform [14] - The company expects to complete at least 18 validations in 2025, with at least three in Q3 [20] Q&A Session Summary Question: Impact of pharma delays on decision-making - Management noted mixed signals in pharma decision-making but remains encouraged by ongoing conversations and projects with existing customers [24][25] Question: System placements and market share in CAR T - The majority of installations are in existing facilities, but new builds are expected to increase automation and efficiency, benefiting the company [27][28] Question: Reasons for lower guidance on system placements - Management cited trade dynamics and near-term uncertainties as reasons for expecting to finish the year at the lower end of the guidance range [30][31] Question: Stability of consumable revenue growth - Management expects sequential growth in consumables revenue in Q3 and Q4, driven by new high-volume sites coming online [32][34] Question: Near-term levers for gross margin improvement - Focus areas include product cost reduction, procurement efficiencies, and manufacturing improvements, with significant progress expected [37][39] Question: Timing for onshoring initiatives - Management anticipates benefits from onshoring initiatives but noted that specific timing remains uncertain due to construction and equipment ordering dynamics [42][46] Question: Attitude differences between existing and potential customers - Existing customers tend to be more resilient and have ongoing projects, while new customers may be more cautious in the current environment [50][52]

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Group 1 - The analyst expresses a structural bullish outlook on the Business Development Company (BDC) sector but maintains a bearish stance on venture-capital related vehicles [1] Group 2 - Roberts Berzins has over a decade of experience in financial management, focusing on helping top-tier corporates with financial strategies and large-scale financings [2] - Berzins has contributed to institutionalizing the Real Estate Investment Trust (REIT) framework in Latvia to enhance liquidity in pan-Baltic capital markets [2] - His policy-level work includes developing national State-Owned Enterprise (SOE) financing guidelines and frameworks for channeling private capital into affordable housing [2] - Berzins holds a CFA Charter and an ESG investing certificate, and has experience with the Chicago Board of Trade [2]