Angi Inc.NASDAQ: ANGI

Grids and Metrics Q4 2025

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Angi Inc.

Q4 2025 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; rounding differences may occur)

2022

2023

2024

2025

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.

$ 1,663.3

$ 325.6

$ 322.4

$ 322.0

$ 273.1

$ 1,242.9

$ 270.0

$ 281.9

$ 264.9

$ 239.2

$ 1,056.1

$ 212.6

$ 245.5

$ 233.2

$ 212.7

$ 904.1

International

101.0

29.9

29.2

29.3

27.4

115.8

35.4

33.2

31.8

28.6

129.0

33.4

32.7

32.4

28.0

126.5

Total Revenue

$ 1,764.4

$ 355.5

$ 351.6

$ 351.2

$ 300.4

$ 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

Operating income (loss)

U.S.

$ (71.4)

$ (13.9)

$ (17.0)

$ (10.6)

$ 6.7

$ (34.8)

$ (2.8) $

5.1 $

5.1 $

2.7 $

10.1

$ 14.0 $

12.7 $

13.8 $

1.5 $

41.9

International

(4.2)

3.0

1.6

2.8

0.9

8.3

5.5

4.1

2.7

(0.6)

11.7

6.0

5.0

8.0

4.5

23.5

Total operating (loss) income

$ (75.6)

$ (10.9)

$ (15.4)

$ (7.9)

$ 7.6

$ (26.5)

$ 2.7 $ 9.2 $ 7.8 $ 2.2 $ 21.9

$ 20.0 $ 17.7 $ 21.8 $ 5.9 $ 65.4

Stock-based compensation expense

U.S. $ (49.9)

$ (12.3)

$ (10.0)

$ (10.1)

$ (9.7)

$ (42.0)

$ (9.0)

$ (8.4)

$ (9.9)

$ (6.4)

$ (33.7)

$ 2.3

$ (4.6)

$ (5.4)

$ (5.3)

$ (13.1)

International (0.9)

(0.4)

(0.3)

(0.5)

(0.1)

(1.4)

(0.4)

(0.3)

(0.1)

(0.3)

(1.1)

(0.0)

(0.4)

(0.6)

(0.7)

(1.7)

Total stock-based compensation expense $ (50.8)

$ (12.7)

$ (10.3)

$ (10.6)

$ (9.8)

$ (43.4)

$ (9.4)

$ (8.7)

$ (10.0)

$ (6.7)

$ (34.8)

$ 2.3

$ (5.1)

$ (6.0)

$ (6.0)

$ (14.8)

U.S.

$ (74.6)

$ (24.3)

$ (21.1)

$ (21.7)

$ (23.1)

$ (90.2)

$ (23.1)

$ (23.6)

$ (16.8)

$ (19.6)

$ (83.0)

$ (9.9)

$ (10.2)

$ (11.9)

$ (13.0)

$ (45.0)

International

(2.9)

(0.9)

(0.9)

(0.8)

(0.8)

(3.4)

(0.8)

(0.8)

(0.8)

(0.8)

(3.1)

(0.0)

(0.1)

(0.0)

(0.1)

(0.3)

Depreciation

Total depreciation $ (77.5)

$ (25.2)

$ (22.0)

$ (22.5)

$ (23.9)

$ (93.6)

$ (23.8)

$ (24.3)

$ (17.6)

$ (20.3)

$ (86.1)

$ (9.9)

$ (10.3)

$ (11.9)

$ (13.2)

$ (45.3)

Amortization of intangibles

U.S. $ (13.8)

$ (2.7)

$ (2.7)

$ (2.6)

$ -

$ (8.0)

$ -

$ -

$ -

$ (2.6)

$ (2.6)

$ -

$ -

$ -

$ (1.8)

$ (1.8)

International -

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total amortization of intangibles $ (13.8)

$ (2.7)

$ (2.7)

$ (2.6)

$ -

$ (8.0)

$ -

$ -

$ -

$ (2.6)

$ (2.6)

$ -

$ -

$ -

$ (1.8)

$ (1.8)

Restructuring

U.S. $ -

International -

Total restructuring $ -

Adjusted EBITDA (a)

$ - $ - $ - $ - $ -

- - - - -

$ - $ - $ - $ - $ -

$ - $ - $ - $ - $ -

- - - - -

$ - $ - $ - $ - $ -

$ - $ - $ - $ (11.0) $ (11.0)

- - - (1.8) (1.8)

$ - $ - $ - $ (12.8) $ (12.8)

U.S.

$ 67.0

$ 25.3

$ 16.7

$ 23.8

$ 39.5

$ 105.4

$ 29.3

$ 37.0

$ 31.7

$ 31.3

$ 129.4

$ 21.6

$ 27.6

$ 31.1

$ 32.6

$ 112.8

International

(0.5)

4.4

2.8

4.0

1.8

13.1

6.7

5.1

3.7

0.5

16.0

6.1

5.4

8.6

7.1

27.3

Total Adjusted EBITDA

$ 66.5

$ 29.7

$ 19.6

$ 27.8

$ 41.4

$ 118.5

$ 36.0

$ 42.2

$ 35.4

$ 31.8

$ 145.3

$ 27.7

$ 33.0

$ 39.7

$ 39.7

$ 140.1

See notes on page 3

Net (loss) earnings attributable to Angi Inc. shareholders

Add back:

Net earnings attributable to noncontrolling interests

$ (128.4)

0.5

$ (15.3)

0.3

$ (14.7)

0.2

$ (5.4)

0.1

$ (5.6)

0.0

$ (40.9)

0.6

$ (1.6)

0.3

$ 3.8

0.3

$ 35.2

0.2

$ (1.3)

-

$ 36.0

0.8

$ 15.1

-

$ 10.9

-

$ 10.6

-

$ 7.2

$ 43.8

Loss (earnings) from discontinued operations, net of tax (b)

38.8

1.0

(1.1)

2.3

8.0

10.3

-

-

-

-

-

-

-

-

Income tax (benefit) provision

(5.4)

1.9

0.4

(6.1)

5.7

1.8

3.5

4.6

(26.6)

1.7

(16.8)

4.7

6.5

10.2

(2.7)

18.7

Other income, net

(1.2)

(3.8)

(5.2)

(3.9)

(5.5)

(18.4)

(4.5)

(4.6)

(6.0)

(3.3)

(18.4)

(4.8)

(4.8)

(4.1)

(3.9)

(17.6)

Interest expense

20.1

5.0

5.0

5.0

5.0

20.1

5.0

5.0

5.0

5.0

20.2

5.0

5.1

5.1

5.3

20.5

Operating (loss) income

Add back:

Stock-based compensation expense

(75.6)

50.8

(10.9)

12.7

(15.4)

10.3

(7.9)

10.6

7.6

9.8

(26.5)

43.4

2.7

9.4

9.2

8.7

7.8

10.0

2.2

6.7

21.9

34.8

20.0

(2.3)

17.7

5.1

21.8

6.0

5.9

6.0

65.4

14.8

Depreciation

77.5

25.2

22.0

22.5

23.9

93.6

23.8

24.3

17.6

20.3

86.1

9.9

10.3

11.9

13.2

45.3

Amortization of intangibles

13.8

2.7

2.7

2.6

-

8.0

-

-

-

2.6

2.6

-

-

-

1.8

1.8

Restructuring

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12.8

12.8

Adjusted EBITDA

$ 66.5

$ 29.7

$ 19.6

$ 27.8

$ 41.4

$ 118.5

$ 36.0

$ 42.2

$ 35.4

$ 31.8

$ 145.3

$ 27.7

$ 33.0

$ 39.7

$ 39.7

$ 140.1

Diluted weighted average shares outstanding

50.3

50.5

50.6

50.6

50.6

50.6

50.3

50.7

50.5

49.7

50.7

50.5

47.7

45.1

42.6

46.5

Diluted (loss) earnings per share from continuing operations (c)

$ (1.78)

$ (0.28)

$ (0.31)

$ (0.06)

$ 0.05

$ (0.61)

$ (0.03)

$ 0.07

$ 0.70

$ (0.03)

$ 0.71

$ 0.30

$ 0.23

$ 0.23

$ 0.17

$ 0.94

Diluted (loss) earnings per share from discontinued operations (b)(c)

(0.77)

(0.02)

0.02

(0.05)

(0.16)

(0.20)

-

-

-

-

-

-

-

-

-

-

Diluted (loss) earnings per share attributable to Angi Inc. shareholders (c)

$ (2.55)

$ (0.30)

$ (0.29)

$ (0.11)

$ (0.11)

$ (0.81)

$ (0.03)

$ 0.07

$ 0.70

$ (0.03)

$ 0.71

$ 0.30

$ 0.23

$ 0.23

$ 0.17

$ 0.94

  1. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (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.

  2. 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.

  3. 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.

Angi Inc.

(rounding differences may occur)

2025

$ 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

$ 325.6 $ 322.4 $ 322.0 $ 273.1 $ 1,242.9

29.9 29.2 29.3 27.4 115.8

$ 355.5 $ 351.6 $ 351.2 $ 300.4 $ 1,358.7

$ 1,663.3

101.0

$ 1,764.4

FYE 12/31

Q4

Q3

Q2

Q1

Q1 Q2 Q3 Q4 FYE 12/31

Q1 Q2 Q3 Q4 FYE 12/31

FYE 12/31

2024

2023

2022

Revenue ($ in millions)

U.S. (a)

International (b) Total Angi Inc. Revenue

Reported to Pro Forma Net Revenue Reconciliations (c)

Services (d)

Reported Revenue

$ 381.3

$ 32.1

$ 29.9

$ 30.0

$ 26.1

$ 118.0

$ 20.5

$ 24.6

$ 23.7

$ 24.8

$ 93.5

Impact of net revenue reporting (c)

(242.6)

(3.7)

0.5

-

-

(3.1)

-

-

-

-

-

Pro Forma Services Net Revenue

$ 138.7

$ 28.4

$ 30.4

$ 30.0

$ 26.1

$ 114.9

$ 20.5

$ 24.6

$ 23.7

$ 24.8

$ 93.5

Total Angi Inc. (e)

Reported Revenue

$ 1,764.4

$ 355.5

$ 351.6

$ 351.2

$ 300.4

$ 1,358.7

$ 305.4

$ 315.1

$ 296.7

$ 267.9

$ 1,185.1

Impact of Services net revenue reporting (c)

(242.6)

(3.7)

0.5

-

-

(3.1)

-

-

-

-

-

Pro Forma Angi Inc. Net Revenue

$ 1,521.8

$ 351.8

$ 352.1

$ 351.2

$ 300.4

$ 1,355.6

$ 305.4

$ 315.1

$ 296.7

$ 267.9

$ 1,185.1

Service Requests (in thousands) (f)

Proprietary (in thousands)

24,924

4,666

5,397

5,046

3,538

18,647

3,248

3,848

3,415

2,806

13,317

2,773

4,118

3,791

3,224

13,906

Network (in thousands)

4,535

1,338

1,464

1,020

786

4,608

878

1,091

1,075

823

3,867

588

444

353

252

1,637

Total

29,459

6,004

6,862

6,065

4,324

23,255

4,126

4,939

4,490

3,629

17,184

3,361

4,562

4,144

3,476

15,543

Leads (in thousands) (g) Proprietary (in thousands)

22,189

4,656

5,610

5,381

3,913

19,559

3,644

4,309

4,269

3,508

15,731

3,590

4,980

4,946

4,399

17,915

Network (in thousands)

6,749

1,795

2,195

1,975

1,587

7,552

1,867

2,439

2,597

1,746

8,650

812

597

495

376

2,280

Total

28,938

6,451

7,805

7,355

5,500

27,111

5,511

6,749

6,867

5,255

24,381

4,402

5,577

5,441

4,775

20,195

U.S. Revenue ($ in millions) Proprietary (h)

$ 1,275.4

$ 235.0

$ 231.7

$ 235.5

$ 194.3

$ 896.5

$ 178.5

$ 180.0

$ 164.7

$ 159.7

$ 683.0

$ 173.4

$ 219.2

$ 212.0

$ 196.0

$ 800.6

Network (i)

387.9

90.6

90.6

86.4

78.8

346.5

91.5

101.9

100.2

79.5

373.1

39.2

26.3

21.2

16.7

103.5

Total

$ 1,663.3

$ 325.6

$ 322.4

$ 322.0

$ 273.1

$ 1,242.9

$ 270.0

$ 281.9

$ 264.9

$ 239.2

$ 1,056.1

$ 212.6

$ 245.5

$ 233.2

$ 212.7

$ 904.1

Acquired Pros (in thousands)(j)

341

55

59

56

42

212

40

39

34

27

141

24

24

22

20

90

Average Monthly Active Pros (in thousands) (k)

196

166

168

168

163

166

157

157

152

143

152

134

126

118

111

122

Transacting Pros (in thousands) (l)

206

207

202

196

192

187

178

168

156

150

142

148

Average Monthly Churn (m)

-10.2%

-7.5%

-7.0%

-7.1%

-7.3%

-7.2%

-6.0%

-5.7%

-6.5%

-6.5%

-6.2%

-4.5%

-6.8%

-6.0%

-6.0%

-5.8%

  1. 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

  2. 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.

  3. 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.

  4. Reflects previously reported Services revenue on a net basis for all periods presented.

  5. Reflects previously reported Services revenue on a net basis for all periods presented and as reported revenue for the other segments, none of which had changes to their revenue recognition reporting.

  6. Service Requests - requests for connections with Pros in the period, which include pre-priced offerings and indications of interest expressed on a Pro profile.

  7. Leads (formerly known as "Monetized Transactions") - 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.

  8. 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.

  9. 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.

  10. Acquired Pros - new Pros onboarded onto the Angi platform and eligible to receive Leads in the period.

  11. 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.

  12. Transacting Pros (formerly known as Transacting Professionals) - the number of (i) Ads and Leads Pros that paid for consumer matches or advertising and (ii) Services Pros that performed a Services job, during the most recent quarter.

  13. Average Monthly Churn - (Active Pros in the current month that were acquired in prior months divided by Active Pros in the prior month) - 1.