DENVER, June 17, 2025 (GLOBE NEWSWIRE) -- Today, Angi—formerly known as Angie’s List—is introducing a new, “AI Helper” to its service request experience, as part of its continued effort to simplify how homeowners connect with top-quality service pros and meet demand for smarter, more intuitive home improvement solutions. This innovation coincides with Angi’s 30th anniversary, marking three decades of connecting homeowners with skilled pros and driving industry innovation. At the heart of this enhancement is ...

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Summary of Angi (ANGI) FY Conference Call - May 15, 2025 Company Overview - **Company**: Angi (ANGI) - **Industry**: Home services and digital marketplace for homeowners and service professionals Key Points and Arguments 1. **Leadership Transition**: Jeff Kipp, previously CFO of IAC, became CEO of Angi to drive growth and improve service quality for both homeowners and professionals on the platform [5][6][13] 2. **Financial Performance**: Angi expects to exceed $1 billion in revenue with positive cash flow, reversing a previous trend of negative cash flow [9][10] 3. **Revenue Quality Improvement**: The company has eliminated lower-quality revenue streams, resulting in improved unit economics and adjusted EBITDA margins [10][11] 4. **Homeowner Engagement**: Homeowners are hiring approximately 30% more professionals compared to two years ago, indicating improved satisfaction and engagement [11] 5. **Independent Operations**: As a standalone company, Angi maintains its mission and strategy while benefiting from a more liquid and stable stock currency [15] 6. **Impact of Macroeconomic Factors**: The company experienced a temporary 10% drop in traffic due to macroeconomic shocks but has since stabilized and is recovering [17][19] 7. **Homeowner Choice Implementation**: The introduction of homeowner choice in January has led to higher hiring rates and satisfaction among both homeowners and professionals [25][29] 8. **New Metrics Disclosure**: Angi has introduced new metrics to better reflect service requests and leads, emphasizing proprietary growth and retention rates [30][32] 9. **Operational Efficiency**: The company is focusing on marketing and sales efficiency, aiming to generate more value with a smaller sales force [39][40] 10. **AI Integration**: Angi is leveraging AI for better customer interactions, predictive modeling, and operational efficiencies [49][50] 11. **Competitive Landscape**: Angi relies on Google for over a third of its leads, facing competition from Yelp and Thumbtack, but is focused on proprietary growth despite challenges [53][54] 12. **International Growth**: International operations account for 10% of revenue, with potential for growth through platform integration and market expansion [57][60] 13. **Future Growth Outlook**: Angi anticipates a return to growth in 2026, driven by improvements in proprietary leads and network stability [64][66] 14. **Margin Expansion**: Despite a focus on growth, Angi has managed to expand margins and expects to maintain operational efficiencies [70][72] 15. **Long-term Growth Potential**: The company aims for double-digit revenue growth in the long term, leveraging its market position and improving customer success rates [73][76] Additional Important Content - **Capital Allocation Philosophy**: Angi is focused on returning capital to shareholders and offsetting dilution from employee stock grants, while also considering strategic acquisitions [78][80] - **Market Fragmentation**: The home services industry remains fragmented, presenting opportunities for consolidation and growth [15][56] This summary encapsulates the key insights and strategic directions discussed during the Angi FY Conference Call, highlighting the company's focus on improving financial performance, customer satisfaction, and operational efficiency in a competitive landscape.

Core Insights - Angi Inc. will participate in the 53rd Annual J.P. Morgan Global Technology, Media and Communications Conference on May 15, 2025, with CEO Jeffrey Kip presenting at 8:40 a.m. ET [1] Company Overview - Angi Inc. (NASDAQ: ANGI) was founded in 1995 with the goal of helping homeowners find skilled home professionals in their area, evolving over 30 years to assist with various home projects [2] - The company has an extensive nationwide network of skilled home professionals and has helped over 150 million people with home maintenance, repair, renovation, and improvement [2] - Angi has also supported hundreds of thousands of small local businesses in growing their operations [2]

Angi (ANGI) Q1 2025 Earnings Call May 07, 2025 08:30 AM ET Company Participants Andrew Russakoff - CFOJeff Kip - CEOEric Sheridan - Managing DirectorCory Carpenter - Internet Equity ResearchJustin Patterson - Managing DirectorYgal Arounian - Director - Internet Equity Research Conference Call Participants Stephen Ju - AnalystDaniel Kurnos - Equity Research Analyst Operator Please note this event is being recorded. I would now like to turn the conference over to Andrew Rasukoff, CFO. Please go ahead. Andrew ...

Angi (ANGI) Q1 2025 Earnings Call May 07, 2025 08:30 AM ET Company Participants Andrew Russakoff - CFOJeff Kip - CEOEric Sheridan - Managing DirectorCory Carpenter - Internet Equity ResearchJustin Patterson - Managing DirectorYgal Arounian - Director - Internet Equity Research Conference Call Participants Stephen Ju - AnalystDaniel Kurnos - Equity Research Analyst Operator Please note this event is being recorded. I would now like to turn the conference over to Andrew Rasukoff, CFO. Please go ahead. Andrew ...

Financial Data and Key Metrics Changes - The first quarter performance was solid, but revenue dropped significantly due to the implementation of Homeowner Choice, which affected lead volume [6][10] - The company reported a 3357% decline in network service requests and leads, primarily due to the requirement for homeowners to choose their pros [12][13] - Proprietary service request declines have decelerated materially, with proprietary lead declines nearly flat for the quarter [14] Business Line Data and Key Metrics Changes - The pro win rate increased by 10% after the implementation of Homeowner Choice, indicating improved job completion rates [8] - The volume of newly acquired pros decreased by 41%, but the value creation on this smaller base is nearly 50% greater than a year ago [16] Market Data and Key Metrics Changes - The Canadian business faced challenges due to an old platform, leading to a transition to a more profitable international platform, which has improved profitability despite revenue declines [59][60] - Regulatory impacts in Europe, including ID checks, have caused a temporary slowdown in new pro acquisition, affecting overall revenue growth [62] Company Strategy and Development Direction - The company is focused on improving the homeowner experience and driving jobs done well, which is seen as essential for long-term value creation [9][80] - The transition to a Single Pro product is expected to enhance customer experience and engagement, leading to better job matching [50][51] Management's Comments on Operating Environment and Future Outlook - The macro environment has led to a modest decline in homeowner volume, but countercyclical dynamics may drive increased reliance on the company's services [25][27] - The company anticipates revenue growth in 2026, driven by improvements in proprietary channels and revenue per lead [34][40] Other Important Information - The company has reduced fixed expenses and CapEx by $100 million compared to 2022, positioning itself for future growth [31] - The implementation of AI technology is expected to enhance the customer experience and operational efficiencies [53][54] Q&A Session Summary Question: Can you contrast elements of consumer wallet spend against the services landscape? - Management noted that consumers are prioritizing necessary maintenance over discretionary spending in recessionary environments, impacting homeowner volume [25][26] Question: How should investors think about the investments being made in product and platform? - Management highlighted that investments have led to improved customer metrics and operating efficiency, despite lower revenue [31][32] Question: What gives confidence in revenue trends improving through the year? - Management pointed to significant improvements in proprietary service requests and leads, along with anticipated growth in revenue per lead [40] Question: What are the capital allocation priorities now that the company is independent? - Management indicated a focus on share buybacks and potential strategic acquisitions that are accretive to shareholders [41][42] Question: What are the next product initiatives to improve the ecosystem? - Management discussed ongoing initiatives to enhance job matching and the introduction of AI to improve the homeowner experience [48][49] Question: Can you provide color on the revenue growth affecting international markets? - Management explained that transitioning to a more profitable platform in Canada has led to revenue declines but improved profitability [59][60]

Changes to Key Metrics Q1 2025 Primer 1 Change of Metric from Transacting Professionals to Active Pros A key sign of Pro engagement on our platform is Pros making themselves available to be presented to homeowners for particular Service Requests and paying for the corresponding Leads if selected by the homeowner. We've redesigned the metric - Average Monthly Active Pros - to best capture that activity. The current Transacting Professional metric is focused on whether a Pro has generated revenue during the q ...

Revenue Performance - Domestic revenue decreased by $57.5 million, or 21%, primarily due to a $45.1 million (28%) drop in lead revenue [127]. - International revenue decreased by $2.0 million, or 6%, due to a management decision to change the business model of the Canadian business [128]. - Total revenue for the three months ended March 31, 2025, was $245.9 million, down from $305.4 million in the same period in 2024, representing a decrease of $59.5 million, or 19% [127]. Profitability Metrics - Gross profit decreased by $60.0 million, or 20%, with a gross margin of 95% compared to 96% in the previous year [131]. - Operating income increased to $20.0 million, a 636% increase compared to the previous year, with domestic operating income at $14.0 million and international at $6.0 million [138]. - Adjusted EBITDA decreased by $8.3 million, or 23%, to $27.7 million, with domestic Adjusted EBITDA at $21.6 million, down 26% [141][142]. Expenses Overview - Selling and marketing expenses decreased by $38.5 million, or 25%, driven by reductions in compensation and advertising expenses [132]. - General and administrative expenses decreased by $28.2 million, or 33%, as a percentage of revenue fell from 28% to 23% [134]. - Domestic general and administrative expenses decreased by $28.3 million, or 37%, primarily due to a $15.4 million reduction in compensation expenses and a $5.3 million decrease in the provision for credit losses [135]. - Product development expenses increased by $3.3 million, or 14%, reaching $27.1 million, driven mainly by higher compensation expenses [136]. - Depreciation expenses decreased by $13.9 million, or 58%, totaling $9.9 million, due to reduced capitalized software spending and write-offs related to real estate footprint reduction [137]. - Cost of revenue increased by $0.5 million, or 4%, as a percentage of revenue rose from 4% to 5% [129]. Activity Metrics - Average Monthly Active Pros decreased to 134, down from 157, representing a decline of 14% [127]. - Total service requests decreased by 765, or 19%, from 4,126 to 3,361 [127]. - The number of acquired Pros decreased by 16, or 41%, from 40 to 24 [127]. Cash Flow and Financial Position - As of March 31, 2025, total cash and cash equivalents decreased to $386.6 million from $416.4 million as of December 31, 2024, representing a decline of approximately 7.1% [160]. - Net cash used in operating activities for the three months ended March 31, 2025, was $(3.1) million, a significant decrease compared to $22.3 million provided in the same period of 2024 [161]. - The company reported a net cash outflow of $12.6 million in investing activities primarily for capital expenditures related to capitalized software [163]. - Financing activities resulted in a net cash outflow of $14.3 million, including $9.8 million for the repurchase of 0.6 million shares at an average price of $16.53 per share [164]. - The company believes its existing cash and expected positive cash flows will be sufficient to fund its normal operating requirements for the next twelve months [173]. Share Repurchase and Capital Expenditures - As of May 2, 2025, the company had repurchased a total of 2.3 million shares under its stock repurchase authorization, with no shares remaining from the previous authorization [168]. - The board of directors approved a new stock repurchase authorization of 5 million shares on May 5, 2025 [169]. - The company expects 2025 capital expenditures to increase by approximately 15% to 25% compared to 2024's $50.5 million, driven by investments in capitalized software [171]. Tax and Other Financial Information - The income tax provision increased by $1.2 million, or 35%, to $4.7 million, with an effective income tax rate of 24% [147][148]. - Interest expense remained flat at $5.0 million compared to the same period last year [144]. - Other income, net increased by $0.3 million, or 8%, to $4.5 million, including interest income of $4.3 million [145]. - At March 31, 2025, there was $28.3 million of unrecognized compensation cost related to equity-based awards, expected to be recognized over approximately 2.04 years [140]. - The company may seek additional capital through equity or debt financing for strategic acquisitions or other purposes beyond the next twelve months [173]. - There were no material changes to the company's market-sensitive instruments or positions during the three months ended March 31, 2025 [175]. Net Earnings - The company reported a net earnings attributable to Angi Inc. shareholders of $15.1 million for the three months ended March 31, 2025 [158].