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Angel Studios vs Mega Matrix: revenue, profit, margins and growth compared

Angel Studios brought in $321.6M of revenue in fiscal 2025, Mega Matrix $26.1M in fiscal 2025. Revenue changed by +233.2% at Angel Studios and -27.9% at Mega Matrix on the year before, so Angel Studios grew faster. Angel Studios kept -53.0% of its revenue as net profit, Mega Matrix -131.4%.

Side by side, latest fiscal year

ANGXMPU
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$321.6M$26.1M
Revenue growth+233.2%-27.9%
Net income-$170.5M-$34.3M
Net margin-53.0%-131.4%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)-$1.10-$0.75
Cash$44.1M$7.3M
Debt$45.5Mn/a
Price to earningsn/an/a
Market value$896.4M$189M
Dividend yieldn/an/a
Rank by revenue in sector#621 of 955 · Consumer discretionary#807 of 955 · Consumer discretionary

Over the years

Revenue
ANGX FY2023: $202.4MANGX FY2024: $96.5MANGX FY2025: $321.6MMPU FY2024: $36.2MMPU FY2025: $26.1MFY23FY24FY25
ANGX $321.6MMPU $26.1M
Net income
ANGX FY2022: $18.1MANGX FY2023: $13.4MANGX FY2024: -$88.3MANGX FY2025: -$170.5MMPU FY2022: -$8.5MMPU FY2024: -$4.1MMPU FY2024: -$8.9MMPU FY2025: -$34.3MFY22FY23FY24FY25
ANGX -$170.5MMPU -$34.3M
Net margin
ANGX FY2023: 6.6%ANGX FY2024: -91.5%ANGX FY2025: -53.0%MPU FY2024: -24.6%MPU FY2025: -131.4%FY23FY24FY25
ANGX -53.0%MPU -131.4%
Revenue growth
ANGX FY2024: -52.3%ANGX FY2025: +233.2%MPU FY2025: -27.9%FY24FY25
ANGX +233.2%MPU -27.9%

Fiscal years as each company reports them; the two may end in different months.

Questions about Angel Studios and Mega Matrix

Which is bigger by revenue, Angel Studios or Mega Matrix?

Angel Studios is bigger by revenue: $321.6M in fiscal 2025, against $26.1M for Mega Matrix in fiscal 2025.

Which keeps more of its revenue as profit, Angel Studios or Mega Matrix?

Angel Studios had a net margin of -53.0% in fiscal 2025; Mega Matrix had -131.4% in fiscal 2025.

Which grew revenue faster, Angel Studios or Mega Matrix?

In their latest fiscal years revenue changed by +233.2% at Angel Studios and -27.9% at Mega Matrix.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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