ANGINasdaqServices-AdvertisingUS GAAP · USD

Angi Inc.

Angi Inc. operates a digital marketplace that connects consumers with home service professionals across more than 500 categories, including repair, remodeling, cleaning, and landscaping. The company’s platform helps consumers find pre-screened, customer-rated Pros, request services directly, and access tools such as pricing guidance, reviews, and project planning content. On the supply side, Angi gives Pros lead generation, quoting, invoicing, and access to consumers through its marketplace and affiliated channels. Following the March 2025 spin-off from IAC, Angi now operates as an independent public company with two reporting segments: U.S. and International.

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Revenue1,031m USD
−13.0 %y/y
Operating profit (EBIT)65.4m USD
+198.9 %y/y
EBIT margin6.3%
+4.5 ppy/y
Net income43.8m USD
+19.0 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-50005001,0001,5002,000m USD2020: 1,468 m USD2020: EBIT -6.4 m USD20202021: 1,685 m USD2021: EBIT -68 m USD20212022: 1,892 m USD2022: EBIT -76 m USD20222023: 1,359 m USD2023: EBIT -26 m USD20232024: 1,185 m USD2024: EBIT 22 m USD20242025: 1,031 m USD2025: EBIT 65 m USD20251,03165
RevenueOperating profit (EBIT)

Business

Share of revenue
Consumer marketplace and matching45 %

Digital tools that connect consumers with pre-screened, customer-rated home service professionals.

Lead generation and advertising30 %

Revenue from Pros under contract for advertising and consumer leads in the U.S. business.

Pre-priced and booked services15 %

Transactions where consumers request and pay for home services directly through the platform.

Membership and subscription services7 %

Consumer and Pro membership packages and subscription-based access to platform tools.

International marketplaces3 %

Home services marketplaces in Europe and Canada that connect local consumers and Pros.

Customers

Angi serves two-sided marketplace customers: consumers seeking help with home projects and independent Pros who want access to demand. Consumers use the platform to find local professionals for repair, maintenance, remodeling, cleaning, landscaping, and related services, often because they want convenience, price guidance, and access to reviews. Pros buy access to leads, advertising, quoting, invoicing, and marketplace tools because these services help them acquire jobs and manage customer interactions more efficiently. The company also reaches consumers through third-party affiliate platforms and retail partnerships, broadening demand acquisition beyond its own brands.

Consumers seeking home services

Households use Angi to find, compare, and book local Pros for home projects and service requests.

Independent home service professionals

Pros buy leads, advertising, and workflow tools to acquire customers and convert jobs.

Membership and subscription users

Consumers and Pros purchase membership packages for access to platform features and tools.

Retail and affiliate channel customers

Consumers referred from third-party partners use Angi for assembly, installation, and related services.

International marketplace users

Consumers and Pros in Europe and Canada use localized marketplaces for home services matching.

Strategy

Angi’s strategy centers on strengthening its two-sided marketplace by increasing consumer demand, improving Pro supply, and expanding the number of service categories it can monetize. The company continues to invest in software and platform capabilities that support matching, booking, quoting, invoicing, and consumer content, which are core to conversion and retention. It also appears focused on simplifying its operating structure after the 2025 segment reorganization and spin-off from IAC, which should make performance management and capital allocation more direct. In parallel, Angi is maintaining brand investment across Angi, HomeAdvisor, and Handy while using international marketplaces to extend the platform model beyond the U.S.

Improve platform functionality and software capabilitiesShort term

Better matching, booking, and workflow tools should increase conversion and make the marketplace more useful to both consumers and Pros.

Strengthen brand awareness and trustMedium term

Marketplace demand depends on consumer confidence in Pro quality, reviews, and the reliability of the Angi brand.

Expand monetization across service categoriesMedium term

A broader set of categories increases the addressable market and improves revenue opportunities from both leads and transactions.

Manage the post-spin-off operating structureShort term

Operating independently from IAC requires clearer capital allocation, governance, and financing discipline.

Geography

Q1/2026

Angi generates most of its business in the United States, where the U.S. segment includes lead revenue, advertising, memberships, and pre-priced offerings. Its International segment covers businesses in Europe and Canada, and the company specifically operates marketplaces in Austria, Canada, France, Germany, Italy, the Netherlands, and the UK. Geography matters because the U.S. business is the core scale market, while international operations add diversification but are smaller and more fragmented. The company’s platform model also means local brand awareness, consumer trust, and Pro density vary by market, affecting conversion and monetization.

United States85 %
Other countries (US filing)15 %

Share of the revenue the company reports by geography.

Risks

Angi’s business depends heavily on brand trust, Pro quality, and consumer satisfaction, so complaints, lawsuits, poor service outcomes, or bad publicity can damage demand on both sides of the marketplace. Because the company relies on digital traffic, data, and third-party systems, cybersecurity, privacy, and platform reliability are important operational risks. The marketplace model is also sensitive to changes in consumer spending on home projects and to competition for both consumer attention and Pro supply. In addition, the company’s debt, post-spin-off relationship issues with IAC, and the need to generate sufficient cash flow create financial and execution risk if demand weakens or operating costs rise.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Brand and reputation damage1Data security and privacy breaches2Liquidity and debt service3Demand sensitivity to macro conditions4Platform and third-party technology reliability5Post-spin-off and IAC-related uncertainty6
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Brand and reputation damageImpact: HighLikelihood: Medium

    The marketplace depends on consumer trust in Angi and on the perceived quality of Pros; negative service experiences can reduce repeat usage and lead conversion.

    ExposureAngiHomeAdvisorOther brand channels
  2. Data security and privacy breachesImpact: HighLikelihood: Medium

    The platform handles consumer and Pro information, so breaches or misuse could trigger legal, regulatory, and reputational harm.

    Exposure: Digital marketplace and user data

  3. Liquidity and debt serviceImpact: HighLikelihood: Low

    The company has senior notes outstanding and must generate sufficient cash to service debt and fund operations.

    Exposure: ANGI Group Senior Notes and revolving facility

  4. Demand sensitivity to macro conditionsImpact: MediumLikelihood: Medium

    Home services demand can weaken when consumers delay discretionary repair or remodeling projects.

    Exposure: U.S. and international consumer demand

  5. Platform and third-party technology reliabilityImpact: MediumLikelihood: Medium

    Service matching, booking, and consumer experience depend on scalable internal systems and external technology partners.

    Exposure: Marketplace infrastructure

  6. Post-spin-off and IAC-related uncertaintyImpact: MediumLikelihood: Low

    The company disclosed ongoing risks related to its relationship with IAC after the Distribution and the transition to independent operations.

    Exposure: Corporate structure and governance

Accounting

Judgemental items
Revenue recognition by product type

Lead revenue, membership subscriptions, advertising, and pre-priced services may be recognized at different times, affecting quarterly revenue timing and comparability.

Impact: Can shift reported revenue between periods depending on service delivery and contract structure

Segment reporting change

The move from Ads and Leads / Services / International to U.S. and International changes how operating results are presented and compared historically.

Impact: Affects trend analysis and segment margin interpretation

Stock-based compensation

PSUs, MSUs, and other equity awards require estimates tied to performance and market conditions, creating expense volatility.

Impact: Can materially affect operating expenses and net earnings

Goodwill and intangible assets

Acquired brands, technology, and professional relationships must be amortized or tested for impairment, especially if growth slows.

Impact: Potential non-cash charges and earnings volatility

Capitalized software

Software development spending is capitalized in part, so the balance between expense and asset recognition affects reported margins and cash flow presentation.

Impact: Influences operating expense, depreciation/amortization, and investing cash flow

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Last updated: 24/09/2026