ANGI Homeservices(ANGI) - 2025 Q3 - Quarterly Results

Financial Performance - Revenue for Q3 2025 was $296.7 million, a decrease of 10% compared to Q3 2024[3] - Net earnings for Q3 2025 were $35.2 million, down 70% from $10.6 million in Q3 2024[3] - Adjusted EBITDA for Q3 2025 was $39.7 million, up from $35.4 million in Q3 2024, reflecting a 12% increase[4] - Operating income increased to $21.8 million, up 179% from $7.8 million in Q3 2024[4] - Basic earnings per share for the three months ended September 30, 2025, was $0.24, compared to $0.71 in the same period of 2024, indicating a decrease of 66.0%[24] - Total revenue for the three months ended September 30, 2025, was $265.6 million, a decrease of 10% compared to $296.7 million in the same period of 2024[31] - Net earnings attributable to Angi Inc. shareholders for the three months ended September 30, 2025, were $10.6 million, compared to $35.2 million in 2024[33] Revenue Breakdown - Proprietary Service Requests grew by 11% year-over-year, while Network Service Requests declined by 67%[4] - Proprietary Leads increased by 16% year-over-year, whereas Network Leads fell by 81%[12] - Domestic revenue for the nine months ended September 30, 2025, was $691.3 million, down 15% from $816.9 million in 2024[31] - International revenue for the three months ended September 30, 2025, was $32.4 million, a 2% increase from $31.8 million in 2024[31] Expenses and Liabilities - Total expenses for the nine months ended September 30, 2025, were $689,609, down from $803,691 in 2024, reflecting a decrease of 14.2%[30] - Total current assets decreased to $407,363 as of September 30, 2025, from $495,085 at the end of 2024, a decline of 17.7%[26] - Total liabilities decreased to $215,235 as of September 30, 2025, compared to $231,678 at the end of 2024, a reduction of 7.1%[26] - Cash and cash equivalents at the end of the period were $340,689, down from $416,434 at the end of 2024, a decrease of 18.2%[26] Shareholder Actions - The company repurchased 1.3 million shares for $20.1 million between August 4, 2025, and October 31, 2025[4] - Future capital allocation strategies and potential share repurchases are being considered to enhance shareholder value[59] Market and Growth Insights - The Company anticipates continued growth in the home services market, driven by the ongoing migration of services online and effective marketing strategies[59] - The Company is focused on expanding its pre-priced offerings while maintaining a balanced mix of service requests and directory services[59] - Ongoing investments in technology and consumer data protection are critical to sustaining growth and maintaining trust with users[59] Operational Metrics - Average Monthly Active Pros decreased by 17% year-over-year to 131,000 in Q3 2025[13] - Average Monthly Active Pros increased, reflecting a growing network of service professionals available to consumers[56] - Revenue per Lead was calculated by dividing Domestic Revenue by the number of Leads, providing a clear metric for performance evaluation[57] - The introduction of new metrics in Q1 2025, including Proprietary Channels and Average Monthly Active Pros, aims to provide clearer insights into performance[51] - The Company recorded a notable number of Service Requests, which include pre-priced offerings and connections with Pros, indicating strong consumer engagement[53]