Revenue Performance - Q1 2024 revenue was $305.4 million, down 14% year-over-year, driven by a 15% decline in Ads and Leads revenue and a 28% decline in Services revenue, partially offset by 18% growth in International revenue[2][5] - Revenue for Q1 2024 was $305.39 million, a decrease of 14.1% compared to $355.50 million in Q1 2023[17] - Total Pro Forma Net Revenue for Angi Inc. in Q1 2024 was $305.4 million, compared to $351.8 million in Q1 2023[25] - Pro Forma Net Revenue for Services in Q1 2024 was $20.5 million, compared to $28.4 million in Q1 2023, reflecting a $3.7 million adjustment for contracts entered into prior to January 1, 2023[25][35] Operating Income and Adjusted EBITDA - Q1 2024 operating income improved by $14 million to $3 million, and Adjusted EBITDA increased 21% to $36 million, driven by growth in Ads and Leads, Services, and International segments[1][3][6] - Adjusted EBITDA for Q1 2024 was $36.0 million, with the Ads and Leads segment contributing $41.2 million[21] - Adjusted EBITDA for the three months ended March 31, 2023, was $29.7 million, with Ads and Leads contributing $39.9 million, Services at $(2.2) million, and Corporate at $(12.4) million[22] - FY 2024 Adjusted EBITDA outlook is projected to be between $120 million and $150 million, with operating loss expected to range from $(20) million to $40 million[24] - Adjusted EBITDA excludes stock-based compensation expense, depreciation, and acquisition-related items such as amortization of intangible assets and impairments of goodwill[28] International Segment Performance - International revenue increased 18% to $35.4 million in Q1 2024, driven by a larger service professional network and higher revenue-per-service-professional[5] - International segment reported an operating income of $3.0 million and Adjusted EBITDA of $4.4 million for the three months ended March 31, 2023[22] Service Professionals and Transactions - Transacting Service Professionals were 192,000 in Q1 2024, down 7% year-over-year, but improved sequentially for the 3rd consecutive quarter[3] - Monetized Transactions per Service Request increased 24% to 1.34 in Q1 2024[3] - Service Requests decreased 31% year-over-year to 4,126,000 in Q1 2024, while Monetized Transactions decreased 15% to 5,511,000[8] Financial Position and Cash Flow - As of March 31, 2024, Angi Inc. had $363 million in cash and cash equivalents and $500 million of debt due August 15, 2028[11] - Free Cash Flow increased $0.2 million to $9.5 million in Q1 2024, primarily due to higher Adjusted EBITDA[9][10] - Cash and cash equivalents stood at $363.34 million as of March 31, 2024, slightly down from $364.04 million at the end of 2023[18] - Net cash provided by operating activities attributable to continuing operations was $22.30 million in Q1 2024, up from $21.17 million in Q1 2023[19] - Free Cash Flow is defined as net cash provided by operating activities attributable to continuing operations, less capital expenditures, and is used to evaluate the company's cash generation[29] Costs and Expenses - Total operating costs and expenses decreased to $290.18 million in Q1 2024 from $349.44 million in Q1 2023, a reduction of 16.9%[17] - Stock-based compensation expense totaled $9.40 million in Q1 2024, down from $12.71 million in Q1 2023[17] - Depreciation for FY 2024 is expected to be between $80 million and $100 million, while stock-based compensation expense is projected to range from $30 million to $40 million[24] - Capital expenditures for Q1 2024 were $12.80 million, slightly higher than $11.86 million in Q1 2023[19] Shareholder Equity and Share Repurchases - Total shareholders' equity was $1.04 billion as of March 31, 2024, compared to $1.04 billion at the end of 2023[18] - Angi Inc. repurchased 3.2 million common shares between February 10, 2024, and May 3, 2024, for an aggregate of $7.1 million at an average share price of $2.23 per share[3][11] Net Loss and Corporate Segment - Net loss attributable to Angi Inc. shareholders was $1.63 million in Q1 2024, an improvement from a net loss of $15.33 million in Q1 2023[17] - Corporate segment incurred an operating loss of $(14.9) million and Adjusted EBITDA of $(12.4) million for the three months ended March 31, 2023[22] Total Assets and Liabilities - Total assets decreased to $1.83 billion as of March 31, 2024, compared to $1.86 billion at the end of 2023[18] Services Segment Adjustments - The company modified Services terms and conditions effective January 1, 2023, requiring revenue to be reported on a net basis, impacting Pro Forma Net Revenue calculations[27][35]

DENVER, May 06, 2024 (GLOBE NEWSWIRE) -- Angi, a leading and comprehensive solution for improving and maintaining homes, today launched several new initiatives in advance of May 7th's National Signing Day–a day to acknowledge and celebrate students who pursue an undergraduate or graduate trade school training program. Launched today, the Angi Trade Up Scholarship Program will provide scholarships for students in construction-related programs at trade schools nationwide. Angi also announced an expanded partn ...

Angi (ANGI) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this provider of a digital marketplace for home services have returned -8% over the past month versus the Zacks S&P 500 composite's -4.2% change. The Zacks Internet - Content industry, to which Angi belongs, has lost 3.1% over this period. Now the key question is: Where could the stock be headed ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about Angi (ANGI) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Angi currently has an average brokerage recomm ...

In the latest market close, Angi (ANGI) reached $2.06, with a -1.44% movement compared to the previous day. This change lagged the S&P 500's 0.02% gain on the day. Meanwhile, the Dow experienced a drop of 0.11%, and the technology-dominated Nasdaq saw an increase of 0.1%.Heading into today, shares of the provider of a digital marketplace for home services had lost 22.02% over the past month, lagging the Computer and Technology sector's loss of 5.13% and the S&P 500's loss of 3.01% in that time.Market partic ...

In the latest trading session, Angi (ANGI) closed at $2.01, marking no change from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.58%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 1.15%.Coming into today, shares of the provider of a digital marketplace for home services had lost 22.39% in the past month. In that same time, the Computer and Technology sector lost 0.47%, while the S&P 500 lost 1.09%.Market participants will be closely follow ...

Shares of Angi (ANGI) have been struggling lately and have lost 17.6% over the past two weeks. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the ...

Angi (ANGI) has been on a downward spiral lately with significant selling pressure. After declining 14.7% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is over ...

A downtrend has been apparent in Angi (ANGI) lately with too much selling pressure. The stock has declined 18.9% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Angi (ANGI) .Angi currently has an average brokerage recommendati ...