ANGI Homeservices(US:ANGI)2025-05-06 20:15Financial Performance - Revenue for Q1 2025 was $245.9 million, a decrease of 19% compared to $305.4 million in Q1 2024[3] - Operating income increased to $20.0 million from $2.7 million in Q1 2024, representing a growth of 636%[4] - Net earnings for Q1 2025 were $15.1 million, compared to a net loss of $1.6 million in Q1 2024[3] - Adjusted EBITDA was $27.7 million, down 23% from $36.0 million in Q1 2024[4] - Free Cash Flow for Q1 2025 was $(15.7) million, down from $9.5 million in Q1 2024[28] - Domestic revenue for Q1 2025 was $212.6 million, down 21% from $270.0 million in Q1 2024[30] - International revenue for Q1 2025 was $33.4 million, down 6% from $35.4 million in Q1 2024[30] - Total significant expenses for Q1 2025 were $205.2 million, compared to $256.9 million in Q1 2024[33] Cash and Assets - As of March 31, 2025, the company had $386.6 million in cash and cash equivalents[5] - Cash and cash equivalents at the end of Q1 2025 were $386.6 million, down from $416.5 million at the beginning of the period[27] - Total current assets decreased to $465.2 million in Q1 2025 from $495.1 million in Q4 2024[25] - Total liabilities decreased to $756.0 million in Q1 2025 from $768.5 million in Q4 2024[25] - Total shareholders' equity decreased to $1,049.0 million in Q1 2025 from $1,062.8 million in Q4 2024[25] Share Repurchase and Authorizations - The company repurchased 2.3 million shares for $32.0 million between February 12, 2025, and May 2, 2025[4] - The Board of Directors approved a new share repurchase authorization of 5 million shares on May 5, 2025[4] Business Metrics and Performance Indicators - The number of Acquired Pros decreased by 41% year-over-year, from 40,000 in Q1 2024 to 24,000 in Q1 2025[8] - Total Service Requests decreased by 19% year-over-year, from 4,126,000 in Q1 2024 to 3,361,000 in Q1 2025[14] - The Company introduced new metrics to better reflect core business activities, including renaming Monetized Transactions to Leads[6] - The Company introduced new metrics in Q1 2025, including Proprietary Channels, Network Channels, Acquired Pros, and Average Monthly Active Pros to enhance performance tracking[45] - The number of Transacting Pros, which includes professionals that paid for consumer matches or advertising, is a key performance indicator for the Company[51] Strategic Focus and Future Outlook - The Company emphasizes the importance of maintaining relationships with quality Pros and expanding pre-priced offerings to enhance service requests[54] - The Company is focused on developing and monetizing products for mobile and digital devices to improve consumer engagement and service delivery[54] - Forward-looking statements indicate potential risks including market conditions, competition, and the ability to generate sufficient cash to service debt[54] - The Company has helped over 150 million people with home projects and supported hundreds of thousands of small local businesses[55] Definitions and Clarifications - Adjusted EBITDA is defined as operating income excluding stock-based compensation, depreciation, and acquisition-related items, providing a more meaningful comparison with competitors[36] - Free Cash Flow is calculated as net cash from operating activities minus capital expenditures, representing cash generated by operating businesses before non-operational cash movements[37] - Domestic Revenue includes lead revenue for consumer matches, advertising revenue from Pros, and membership subscription revenue, contributing to overall financial performance[46] - International Revenue is primarily from businesses in Europe and Canada, including lead revenue and membership subscription revenue from Pros[47]