Q3 2026 Earnings
Supplemental Financial Information and Operating Metrics
Table of Contents
Page(s)
Financial Results and Reconciliations 2
Operating Metrics 3
Angi Inc. | |||||||||||||
Financial Results and Reconciliations (Unaudited) | |||||||||||||
($ in millions except per share amounts; rounding differences may occur) | |||||||||||||
2023 | 2024 | 2025 | 2026 | ||||||||||
FYE 12/31 | Q1 Q2 Q3 Q4 FYE 12/31 | Q1 Q2 Q3 Q4 FYE 12/31 | Q1 Q2 Q3 Q4 FYE 12/31 | ||||||||||
Revenue U.S. | $ 1,242.9 | $ 270.0 $ 281.9 $ 264.9 $ 239.2 $ 1,056.1 | $ 212.6 $ 245.5 $ 233.2 $ 212.7 $ 904.1 | $ 202.5 $ 215.4 $ 211.1 | |||||||||
International | 115.8 | 35.4 33.2 31.8 28.6 129.0 | 33.4 32.7 32.4 28.0 126.5 | 35.7 32.6 30.9 | |||||||||
Total Revenue | $ 1,358.7 | $ 305.4 $ 315.1 $ 296.7 $ 267.9 $ 1,185.1 | $ 245.9 $ 278.2 $ 265.6 $ 240.8 $ 1,030.5 | $ 238.2 $ 248.0 $ 242.0 | |||||||||
$ (34.8)
$ (2.8) $
5.1 $
5.1 $
2.7 $
10.1
$ 14.0 $
12.7 $
13.8 $
1.5 $
41.9
$ (11.2) $
(239.0) $
7.1
International | 8.3 | 5.5 4.1 2.7 (0.6) 11.7 | 6.0 5.0 8.0 4.5 23.5 | 1.8 5.3 8.4 | |||
Total operating income (loss) | $ (26.5) | $ 2.7 $ 9.2 $ 7.8 $ 2.2 $ 21.9 | $ 20.0 $ 17.7 $ 21.8 $ 5.9 $ 65.4 | $ (9.5) $ (233.7) $ 15.5 | |||
Stock-based compensation expense | |||||||
$ (42.0) | $ (9.0) $ | (8.4) $ | (9.9) $ | (6.4) $ (33.7) | $ 2.3 $ | (4.6) $ | (5.4) $ | (5.3) $ (13.1) | $ (2.2) $ | (4.2) $ | (7.8) |
(1.4) | (0.4) (0.3) (0.1) (0.3) (1.1) | (0.0) (0.4) (0.6) (0.7) (1.7) | (0.5) (0.7) (1.3) | ||||||||
$ (43.4) | $ (9.4) $ (8.7) $ (10.0) $ (6.7) $ (34.8) | $ 2.3 $ (5.1) $ (6.0) $ (6.0) $ (14.8) | $ (2.8) $ (5.0) $ (9.1) | ||||||||
$ (90.2) | $ (23.1) $ (23.6) $ (16.8) $ (19.6) $ (83.0) | $ (9.9) $ (10.2) $ (11.9) $ (13.0) $ (45.0) | $ (14.3) $ (20.1) $ (16.1) | ||||||||
International
Total stock-based compensation expense
Depreciation U.S.(3.4) | (0.8) (0.8) (0.8) (0.8) (3.1) | (0.0) (0.1) (0.0) (0.1) (0.3) | (0.4) (0.9) (0.8) | |||
$ (93.6) | $ (23.8) $ (24.3) $ (17.6) $ (20.3) $ (86.1) | $ (9.9) $ (10.3) $ (11.9) $ (13.2) $ (45.3) | $ (14.7) $ (21.0) $ (16.9) | |||
$ - - $ - $ - - $ - $ (8.0) - $ (8.0) | $ - $ - $ - $ - $ - - - - - - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - - - - - - $ - $ - $ - $ - $ - $ - $ - $ - $ (2.6) $ (2.6) - - - - - $ - $ - $ - $ (2.6) $ (2.6) | $ - $ - $ - $ (11.0) $ (11.0) - - - (1.8) (1.8) $ - $ - $ - $ (12.8) $ (12.8) $ - $ - $ - $ - $ - - - - - - $ - $ - $ - $ - $ - $ - $ - $ - $ (1.8) $ (1.8) - - - - - $ - $ - $ - $ (1.8) $ (1.8) | $ (9.8) $ (0.9) $ (0.9) (5.1) 0.1 0.1 $ (14.9) $ (0.8) $ (0.7) $ - $ (225.6) $ - - - - $ - $ (225.6) $ - $ - $ (9.6) $ - - - - $ - $ (9.6) $ - |
International Total depreciation
Restructuring U.S.International Total restructuring
Goodwill impairment U.S.International Total goodwill impairment
Impairment of intangibles U.S.International
Total impairment of intangibles
Adjusted EBITDA (a)$ 105.4 | $ 29.3 $ 37.0 $ 31.7 $ 31.3 $ 129.4 | $ 21.6 $ 27.6 $ 31.1 $ 32.6 $ 112.8 | $ 15.1 $ 21.5 $ 31.8 | |
13.1 | 6.7 5.1 3.7 0.5 16.0 | 6.1 5.4 8.6 7.1 27.3 | 7.8 6.8 10.3 | |
$ 118.5 | $ 36.0 $ 42.2 $ 35.4 $ 31.8 $ 145.3 | $ 27.7 $ 33.0 $ 39.7 $ 39.7 $ 140.1 | $ 22.9 $ 28.2 $ 42.2 | |
$ (40.9) $ (1.6) $ 3.8 $ 35.2 $ (1.3) | $ 36.0 | $ 15.1 $ 10.9 $ 10.6 $ 7.2 | $ 43.8 | $ (9.0) $ (230.7) $ 1.3 |
International Total Adjusted EBITDA
Net (loss) earnings attributable to Angi Inc. shareholdersAdd back:
Net earnings attributable to noncontrolling interests | 0.6 | 0.3 | 0.3 | 0.2 | - | 0.8 | - | - | - | - | - | - | - | - |
Loss (earnings) from discontinued operations, net of tax (b) | 10.3 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Income tax (benefit) provision | 1.8 | 3.5 | 4.6 | (26.6) | 1.7 | (16.8) | 4.7 | 6.5 | 10.2 | (2.7) | 18.7 | (0.7) | (0.9) | 11.7 |
Other income, net | (18.4) | (4.5) | (4.6) | (6.0) | (3.3) | (18.4) | (4.8) | (4.8) | (4.1) | (3.9) | (17.6) | (5.1) | (7.0) | (1.9) |
(26.5) | 2.7 | 9.2 | 7.8 | 2.2 | 21.9 | 20.0 | 17.7 | 21.8 | 5.9 | 65.4 | (9.5) | (233.7) | 15.5 |
43.4 | 9.4 | 8.7 | 10.0 | 6.7 | 34.8 | (2.3) | 5.1 | 6.0 | 6.0 | 14.8 | 2.8 | 5.0 | 9.1 |
93.6 | 23.8 | 24.3 | 17.6 | 20.3 | 86.1 | 9.9 | 10.3 | 11.9 | 13.2 | 45.3 | 14.7 | 21.0 | 16.9 |
- | - | - | - | - | - | - | - | - | 12.8 | 12.8 | 14.9 | 0.8 | 0.7 |
- | - | - | - | - | - | - | - | - | - | - | - | 225.6 | - |
Interest expense 20.1
Operating income (loss)Add back:
Stock-based compensation expense Depreciation
Restructuring Goodwill impairment
8.0 | - - - 2.6 2.6 | - - - 1.8 1.8 | - 9.6 - | |||
$ 118.5 | $ 36.0 $ 42.2 $ 35.4 $ 31.8 $ 145.3 | $ 27.7 $ 33.0 $ 39.7 $ 39.7 $ 140.1 | $ 22.9 $ 28.2 $ 42.2 | |||
50.6 | 50.3 50.7 50.5 49.7 50.7 | 50.5 47.7 45.1 42.6 46.5 | 40.2 40.5 41.1 |
Impairment of intangibles
Adjusted EBITDA5.0 5.0 5.0 5.0 20.2
5.0 5.1 5.1 5.3 20.5
5.3 4.8 4.3
Diluted weighted average shares outstanding (c)(d)
Diluted (loss) earnings per share from continuing operations (c)(d)
$ (0.61)
$ (0.03) $
0.07 $
0.70 $
(0.03) $
0.71
$ 0.30 $
0.23 $
0.23 $
0.17 $
0.94
$ (0.22) $
(5.70) $
0.03
Diluted (loss) earnings per share from discontinued operations (b)(c)(d) (0.20)
- - - - -
- - - - -
- - -
Diluted (loss) earnings per share attributable to Angi Inc. shareholders (c)(d)
$ (0.81)
$ (0.03) $ 0.07 $ 0.70 $ (0.03) $ 0.71
$ 0.30 $ 0.23 $ 0.23 $ 0.17 $ 0.94
$ (0.22) $ (5.70) $ 0.03
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; (3) acquisition-related items consisting of amortization of intangible assets and impairments of goodwill and intangible assets, if applicable; and (4) restructuring, if applicable. We believe this measure is useful for analysts and investors as this measure allows a more meaningful comparison between our performance and that of our competitors. Adjusted EBITDA has certain limitations because it excludes the impact of these expenses.
On November 1, 2023, Angi Inc. completed the sale of Total Home Roofing, LLC ("THR") to a non-public third party. THR, which comprises the entirety of the Roofing segment, is presented as discontinued operations for all periods prior to November 1, 2023.
Quarterly per share amounts may not add up to the related annual per share amount due to differences in the number of average common shares outstanding during each period.
Potentially dilutive securities are excluded from the computation of Q1 and Q2 2026 diluted loss per share as their effect would be anti-dilutive. Accordingly, diluted weighted average shares outstanding reflect basic weighted average shares outstanding for those quarters.
(rounding differences may occur)
2026
$ 305.4 $ 315.1 $ 296.7 $ 267.9 $ 1,185.1
- - - - -
$ 305.4 $ 315.1 $ 296.7 $ 267.9 $ 1,185.1
$ 1,358.7
(3.1)
$ 1,355.6
93.5
-93.5
$
$
24.8
-24.8
$
$
23.7
-23.7
$
$
24.6
-24.6
$
$
20.5
-20.5
$
$
$ 118.0
(3.1)
$ 114.9
$ 202.5 $ 215.4 $ 211.1
35.7 32.6 30.9
$ 238.2 $ 248.0 $ 242.0
$ 212.6 $ 245.5 $ 233.2 $ 212.7 $ 904.1
33.4 32.7 32.4 $ 28.0 $ 126.5
$ 245.9 $ 278.2 $ 265.6 $ 240.8 $ 1,030.5
$ 270.0 $ 281.9 $ 264.9 $ 239.2 $ 1,056.1
35.4 33.2 31.8 28.6 129.0
$ 305.4 $ 315.1 $ 296.7 $ 267.9 $ 1,185.1
$ 1,242.9
115.8
$ 1,358.7
FYE 12/31
Q4
Q3
Q2
Q1
FYE 12/31
Q4
Q3
Q2
Q1
Q1 Q2 Q3 Q4 FYE 12/31
FYE 12/31
2025
2024
2023
Revenue ($ in millions)
U.S. (a)
International (b) Total Angi Inc. Revenue
Reported to Pro Forma Net Revenue Reconciliations (c)
Services (d)
Reported Revenue
Impact of net revenue reporting (c) Pro Forma Services Net Revenue
Total Angi Inc. (e) Reported Revenue
Impact of Services net revenue reporting (c)
Pro Forma Angi Inc. Net Revenue
Service Requests (in thousands) (f) | |||||||||||||||||||||||||||
Proprietary (in thousands) | 18,647 | 3,248 | 3,848 | 3,415 | 2,806 | 13,317 | 2,773 | 4,118 | 3,791 | 3,224 | 13,906 | 3,254 | 4,037 | 3,806 | |||||||||||||
Network (in thousands) | 4,608 | 878 | 1,091 | 1,075 | 823 | 3,867 | 588 | 444 | 353 | 252 | 1,637 | 267 | 274 | 238 | |||||||||||||
Total | 23,255 | 4,126 | 4,939 | 4,490 | 3,629 | 17,184 | 3,361 | 4,562 | 4,144 | 3,476 | 15,543 | 3,521 | 4,311 | 4,044 | |||||||||||||
Leads (in thousands) (g) Proprietary (in thousands) | 19,559 | 3,644 | 4,309 | 4,269 | 3,508 | 15,731 | 3,590 | 4,980 | 4,946 | 4,399 | 17,915 | 4,048 | 4,451 | 4,147 | |||||||||||||
Network (in thousands) | 7,552 | 1,867 | 2,439 | 2,597 | 1,746 | 8,650 | 812 | 597 | 495 | 376 | 2,280 | 374 | 387 | 338 | |||||||||||||
Total | 27,111 | 5,511 | 6,749 | 6,867 | 5,255 | 24,381 | 4,402 | 5,577 | 5,441 | 4,775 | 20,195 | 4,423 | 4,838 | 4,485 | |||||||||||||
U.S. Revenue ($ in millions) Proprietary (h) | $ 896.5 | $ 178.5 | $ 180.0 | $ 164.7 | $ 159.7 | $ 683.0 | $ 173.4 | $ 219.2 | $ 212.0 | $ 196.0 | $ 800.6 | $ 185.4 | $ 198.1 | $ 195.2 | |||||||||||||
Network (i) | 346.5 | 91.5 | 101.9 | 100.2 | 79.5 | 373.1 | 39.2 | $ 26.3 | 21.2 | 16.7 | 103.5 | 17.1 | 17.2 | 15.9 | |||||||||||||
Total | $ 1,242.9 | $ 270.0 | $ 281.9 | $ 264.9 | $ 239.2 | $ 1,056.1 | $ 212.6 | $ 245.5 | $ 233.2 | $ 212.7 | $ 904.1 | $ 202.5 | $ 215.4 | $ 211.1 | |||||||||||||
Acquired Pros (in thousands) (j) | 212 | 40 | 39 | 34 | 27 | 141 | 24 | 24 | 22 | 20 | 90 | 23 | 27 | 23 |
Average Monthly Active Pros (in thousands) (k) | 166 | 157 | 157 | 152 | 143 | 152 | 134 | 126 | 118 | 111 | 122 | 105 | 106 | 101 |
Average Monthly Churn (l) | -7.2% | -6.0% | -5.7% | -6.5% | -6.5% | -6.2% | -4.5% | -6.8% | -6.0% | -6.0% | -5.8% | -5.0% | -6.0% | -6.7% |
Primarily comprises U.S. revenue from lead revenue for consumer matches, revenue from Pros under contract for advertising and membership subscription revenue from Pros and consumers, and revenue from pre-priced offerings by which the consumer requests services through a Company platform and the Company connects them with a Pro to perform the service.
Primarily comprises revenue generated within the International segment (consisting of businesses in Europe and Canada), including consumer connection revenue for consumer matches and membership subscription revenue from Pros.
From January 1, 2020 through December 31, 2022, the previously reported revenue related to Services, which effective January 1, 2025 was consolidated into U.S. (including all past periods), recorded revenue on a gross basis. Effective January 1, 2023, Angi Inc. modified the Services terms and conditions so that the Pro, rather than Angi Inc., has the contractual relationship with the consumer to deliver the service and our performance obligation to the consumer is to connect them with the Pro. This change in contractual terms requires revenue to be reported as the net amount of what is received from the consumer after deducting the amounts owed to the Pro providing the service effective for all arrangements entered into after December 31, 2022. There is no impact to operating income (loss) or Adjusted EBITDA from the change in revenue recognition.
Pro Forma Services Net Revenue reflects previously reported Services revenue adjusted to a net basis for all periods shown in this reconciliation.
Pro Forma Angi Inc. Net Revenue reflects previously reported Services revenue adjusted to a net basis for all periods shown in this reconciliation, together with revenue from the other segments as reported; those segments had no change in revenue recognition.
Service Requests - requests for connections with Pros in the period, which include pre-priced offerings and indications of interest expressed on a Pro profile.
Leads - connections between consumers and Pros resulting from a Service Request in the period, including the completion of a job related to a pre-priced offering; a single Service Request can result in multiple Leads.
Proprietary Revenue - the portion of U.S. Revenue allocated to Proprietary channels, calculated based on the proportionate share of Leads originating from Proprietary channels in the period. Full-year amounts are the sum of the quarterly allocations.
Network Revenue - the portion of U.S. Revenue allocated to Network channels, calculated based on the proportionate share of Leads originating from Network channels in the period. Full-year amounts are the sum of the quarterly allocations.
Acquired Pros - new Pros onboarded onto the Angi platform and eligible to receive Leads in the period.
Average Monthly Active Pros - the average number of Pros per month that (i) received Leads, (ii) were presented on a Service Request where they agreed to receive a Lead if selected, (iii) requested to be connected to a consumer on a Service Request, or (iv) accepted an offer to complete a pre-priced Service Request.
Average Monthly Churn - the average of the monthly churn rates during the period, calculated as (Active Pros in the current month that were acquired in prior months divided by Active Pros in the prior month) - 1.