Angi(NASDAQ) ANGI

Angi Inc. connects homeowners with local service professionals. Users can find experts for repairs, cleaning, and remodeling. The platform helps professionals find new customers and manage jobs.

Connecting Homes and Pros

• U.S. Marketplace Services: Connections between consumers and professionals through leads and pre-priced jobs; accounted for 87% of total revenue for the three months ended June 30, 2026.
• International Platforms: Online marketplaces in Europe and Canada that link homeowners with local tradespeople; accounted for 13% of total revenue for the three months ended June 30, 2026.
• Angi Ads and Leads: Digital directory and marketplace tools for home service experts to find projects and manage business operations.
• Specialized Services: Targeted platforms including Handy for handyman tasks and Angi Roofing for roof repairs and replacements.

Strategic Moves and Shifts

• Completed the spin-off from IAC on March 31, 2025, establishing the business as an independent public company.
• Implemented a homeowner choice transition in January 2025 to change how consumers interact with service professionals.
• Reduced the global workforce by approximately 350 employees in early 2026 to optimize the organizational structure.
• Repurchased $100 million of senior notes during the first six months of 2026 to reduce long-term debt.

What Makes the Platform Stand Out

The company operates across more than 500 service categories and managed approximately 15 million projects during the 12 months ended June 30, 2026. It is currently replacing its legacy technology platform with a new system to improve overall performance and service delivery.

A Look at the Numbers

• Total revenue was $248 million for the three months ended June 30, 2026, a decrease of 11% year over year.
• U.S. Revenue fell 12% to $215.4 million during the three months ended June 30, 2026, driven by lower professional spending.
• Adjusted EBITDA reached $28.2 million for the three months ended June 30, 2026, down 14% year over year.
• Net loss was $230.7 million for the three months ended June 30, 2026, following a $225.6 million goodwill impairment charge.
• Total cash and cash equivalents reached $188.7 million as of June 30, 2026.

Bottom Line

Angi has evolved from a subsidiary into an independent entity while narrowing its focus to proprietary consumer channels. Recent restructuring and technology upgrades demonstrate a focus on operational efficiency within the competitive home services market.