New app guides homeowners from question to contractors — moving from conversational AI recommendations in ChatGPT to matching with skilled pros on AngiDENVER, March 04, 2026 (GLOBE NEWSWIRE) -- As homeowners increasingly turn to AI to start home projects, Angi (formerly Angie’s List) (NASDAQ: ANGI), a leading digital home services marketplace, today announced the launch of the Angi app in ChatGPT. This app enables homeowners to move from asking a home-improvement question in ChatGPT to connecting directly w ...

Financial Data and Key Metrics Changes - The company has doubled its EBITDA while cutting capital expenditures in half, resulting in a shift from negative to positive free cash flow [4] - The homeowner NPS has improved by more than 30 points, and churn has been reduced by over 30% [4] - Customer success rates have increased by more than 20%, with a positive customer repeat rate of about 10% in Q4 [4] Business Line Data and Key Metrics Changes - Proprietary business grew by 17% in 2025, with expectations of high single to low double-digit growth in Q1 [15][16] - The company anticipates modest negative growth in Q1, with a potential recovery to mid-single-digit growth in the second half of the year [18][19] Market Data and Key Metrics Changes - SEO currently accounts for approximately 7% of service requests, leads, and revenue, which has been declining over the past few years [88] - The company has faced significant pressure from Google SEO, with expectations that this will remain a challenge throughout the year [15][90] Company Strategy and Development Direction - The company is focusing on leveraging AI technologies, including partnerships with LLMs, to enhance customer experiences and improve matching between homeowners and service providers [5][6] - A significant increase in brand marketing spend is planned to return to 2024 levels, aimed at driving revenue growth [40][43] - The company is restructuring to achieve $70-$80 million in annualized savings, allowing for reinvestment in long-term growth initiatives [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's prospects despite current challenges, highlighting improvements in customer experience and the potential for AI integration [5][66] - There is a recognition of macroeconomic pressures, including a decline in consumer confidence, which may impact service request volumes [66] Other Important Information - The company is undergoing a global platform consolidation, which is expected to enhance the customer experience without significant disruption [52][56] - The restructuring has resulted in a more efficient cost structure, freeing up capital for investments in growth [24][25] Q&A Session Summary Question: How should we think about the rollout of AI features? - The company is focusing on enhancing the AI helper in the service request path to increase homeowner engagement and improve pro matching [30] Question: What is the rationale for tripling brand spend this year? - The increase is aimed at returning to 2024 levels, with confidence in ROI based on historical performance and improved customer experience [39][43] Question: What is happening with pro capacity? - The company has shifted to selling larger pros with bigger packages, resulting in increased revenue per pro despite a nominal decline in the number of active pros [56][58] Question: What is the current exposure to SEO headwinds? - SEO currently contributes about 7% to service requests and revenue, and the company plans to focus on proprietary traffic sources to mitigate this decline [88][90] Question: How is capital allocation being considered post-spin? - The company is focused on managing debt and considering value-creating acquisitions while keeping share repurchases on hold for a period [72][74]

Financial Data and Key Metrics Changes - The company has doubled its EBITDA while cutting capital expenditures in half, resulting in a shift from negative to positive free cash flow [4] - The homeowner Net Promoter Score (NPS) has improved by more than 30 points, and churn has decreased by over 30% [4] - Customer success rates have increased by more than 20%, and the customer repeat rate turned positive by about 10% in Q4 [4] Business Line Data and Key Metrics Changes - Proprietary business grew by 17% in 2025, with expectations of high single to low double-digit growth in Q1 [15][45] - The company anticipates modest negative growth in Q1, with a potential recovery to mid-single-digit growth in the second half of the year [13][18] Market Data and Key Metrics Changes - SEO currently accounts for approximately 7% of service requests, leads, and revenue, which has been declining over the past few years [88] - The company has faced significant pressure from Google SEO, with expectations that this will continue into the year [14][90] Company Strategy and Development Direction - The company is focusing on AI integration, particularly through partnerships with LLMs, to enhance customer experience and improve matching between homeowners and service providers [5][6] - A significant increase in brand marketing spend is planned to return to 2024 levels, which is expected to drive revenue growth [40][43] - The company is restructuring to achieve $70-$80 million in annualized savings, allowing for reinvestment in long-term growth initiatives [23][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's prospects in the AI landscape and the potential for growth despite current challenges [5][9] - There is a recognition of the need to adapt to a changing competitive environment, particularly regarding Google's evolving strategies [90][92] Other Important Information - The company is undergoing a global platform consolidation, which is expected to enhance the customer experience without significant disruption [52][56] - The company is also focusing on improving the pro capacity by selling larger packages to fewer pros, which is expected to increase overall capacity [56][58] Q&A Session Summary Question: How should we think about the rollout of AI features? - The company is focusing on the AI helper in the service request path to increase homeowner engagement and improve pro matching [30] Question: What is the rationale for tripling brand spend this year? - The increase is a return to 2024 levels, with confidence in ROI based on historical performance and data analytics [39][40] Question: What is the current exposure to SEO headwinds? - SEO currently accounts for about 7% of service requests, and the company plans to focus on proprietary traffic sources to mitigate this [88][90] Question: What is happening with pro capacity? - The company is selling larger packages to fewer pros, which has increased revenue per pro, while also ramping up online enrollment for smaller pros [56][58]

Core Insights - Longleaf Partners Fund reported a return of 3.35% in Q4 2025, outperforming the S&P 500's 2.66% but underperforming the Russell 1000 Value Index's 3.81% return, indicating a challenging year without standout performers [1] - The firm emphasizes strengthening portfolio outcomes over chasing short-term winners, suggesting a strategy focused on real companies during periods of excessive speculation [1] Company Highlights - IAC Inc. (NASDAQ:IAC) is highlighted as a leading media and internet company, with a one-month return of -3.167% and a 52-week gain of 13.37%, closing at $39.51 per share with a market capitalization of $3.167 billion on January 16, 2026 [2] - IAC's strategy includes disposing of all assets except for People Inc. and a 25% stake in MGM Resorts, with plans for share repurchase and increasing its stake in MGM to address valuation disconnects [3] - The spinoff of Angi, a home services marketplace, was a significant move for IAC, with the firm purchasing more shares post-spin at a depressed price, indicating confidence in Angi's turnaround [3] Industry Context - MGM Resorts faced a weaker performance in Las Vegas in 2025 due to tough comparisons from previous years, but strong results from BetMGM and regional properties helped stabilize the business [3] - The market narrative suggests that Las Vegas has peaked, but both IAC and MGM believe that the unique appeal of Las Vegas cannot be replicated, positioning MGM as a market leader [3] - MGM's management has made strategic corrections, including selling lower-quality properties at higher multiples and withdrawing from a New York City casino bid, which has allowed for significant share repurchases over the past five years [3]