$ANGI

Angi Inc.

CIK:0001705110|SEC Filings

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 248,003	$ 278,221	$ 486,153	$ 524,134
Cost of revenue (exclusive of depreciation shown separately below)	11,669	13,142	21,362	26,157
Gross profit	236,334	265,079	464,791	497,977
Operating costs and expenses:
Selling and marketing expense	142,256	139,453	282,189	257,994
General and administrative expense	59,885	74,081	117,816	131,400
Product development expense	10,901	23,594	21,341	50,681
Depreciation	21,039	10,278	35,733	20,226
Restructuring	774	0	15,697	0
Goodwill impairment	225,628	0	225,628	0
Impairment of intangibles	9,600	0	9,600	0
Total operating costs and expenses	470,083	247,406	708,004	460,301
Operating (loss) income	(233,749)	17,673	(243,213)	37,676
Interest expense	(4,807)	(5,051)	(10,137)	(10,095)
Other income, net	6,971	4,819	12,070	9,647
(Loss) earnings before income taxes	(231,585)	17,441	(241,280)	37,228
Income tax benefit (provision)	918	(6,544)	1,635	(11,225)
Net (loss) earnings attributable to Angi Inc. shareholders	$ (230,667)	$ 10,897	$ (239,645)	$ 26,003
Per share information attributable to Angi Inc. shareholders:
Basic (loss) earnings per share (USD per share)	$ (5.70)	$ 0.23	$ (5.95)	$ 0.54
Diluted (loss) earnings per share (USD per share)	$ (5.70)	$ 0.23	$ (5.95)	$ 0.53

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net (loss) earnings	$ (239,645)	$ 26,003
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
Depreciation	35,733	20,226
Provision for credit losses	20,819	24,043
Stock-based compensation expense	7,708	2,767
Non-cash lease expense (including impairment of right-of-use assets)	3,827	3,643
Deferred income taxes	(2,308)	7,424
Gain on extinguishment of debt	(8,381)	0
Goodwill impairment	225,628	0
Impairment of intangibles	9,600	0
Other adjustments, net	949	(1,184)
Changes in assets and liabilities:
Accounts receivable	(24,676)	(31,139)
Other assets	3,147	6,675
Accounts payable and other liabilities	(10,759)	12,358
Income taxes payable and receivable	(3,749)	(1,184)
Operating lease liabilities	(9,439)	(6,450)
Deferred revenue	884	(9,174)
Net cash provided by operating activities	9,338	54,008
Cash flows from investing activities:
Capital expenditures	(30,731)	(24,824)
Proceeds from sales of fixed assets	54	75
Net cash used in investing activities	(30,677)	(24,749)
Cash flows from financing activities:
Repurchases of debt	(91,195)	0
Withholding taxes paid on behalf of employees on net settled stock-based awards	(2,081)	(6,771)
Purchases of treasury stock	0	(76,386)
Net cash used in financing activities	(93,276)	(83,157)
Total cash used	(114,615)	(53,898)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(385)	(170)
Net decrease in cash and cash equivalents and restricted cash	(115,000)	(54,068)
Cash and cash equivalents and restricted cash at beginning of period	303,701	416,545
Cash and cash equivalents and restricted cash at end of period	$ 188,701	$ 362,477

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 188,701	$ 303,701
Accounts receivable, net	36,574	33,054
Other current assets	30,947	29,627
Total current assets	256,222	366,382
Capitalized software, leasehold improvements and equipment, net	96,539	99,101
Goodwill	662,088	890,066
Intangible assets, net	157,075	167,142
Deferred income taxes	127,584	126,229
Other non-current assets, net	25,968	31,448
TOTAL ASSETS	1,325,476	1,680,368
LIABILITIES:
Accounts payable	37,547	34,031
Deferred revenue	22,947	22,096
Accrued expenses and other current liabilities	153,622	166,311
Total current liabilities	214,116	222,438
Long-term debt, net	398,475	497,667
Deferred income taxes	1,385	1,498
Other long-term liabilities	23,875	31,399
Commitments and contingencies
SHAREHOLDERS’ EQUITY:
Additional paid-in capital	1,429,987	1,427,693
Accumulated deficit	(390,525)	(150,880)
Accumulated other comprehensive income	3,548	5,938
Treasury stock, $14,220 and $14,220 shares, respectively	(355,923)	(355,923)
Total shareholders’ equity	687,625	927,366
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,325,476	1,680,368
Class A Common Stock
SHAREHOLDERS’ EQUITY:
Common stock, value	538	538
Class B Common Stock
SHAREHOLDERS’ EQUITY:
Common stock, value	0	0
Class C Common Stock
SHAREHOLDERS’ EQUITY:
Common stock, value	$ 0	$ 0