Angi Inc
Investor Relations

Angi Inc. runs a digital marketplace for home repair and improvement work. It helps homeowners find local professionals for jobs like plumbing, painting, roofing, cleaning, and remodeling, and it gives service providers a way to win leads and new customers online. The company’s main product is its consumer and pro platform, which matches people who need work done with contractors and other home-service businesses. Angi makes money mainly by selling leads, memberships, and advertising to home-service professionals, and in some cases by taking a cut or fee tied to completed jobs. Homeowners usually use the platform to search, compare, and request quotes, while contractors use it to market their services and fill their schedules. That makes Angi a middleman in the large, fragmented home-services market rather than a company that performs the repair work itself. What sets the business apart is that it sits at the point where local demand meets local supply. It is not a store, a contractor, or a trades company; it is a digital lead-generation and booking layer for home services. Its role depends on trust, local matching, and repeat demand from both homeowners and professionals.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
May 6, 2026
AI Summary
Q1 2026

Strategic pivot: Angi said it is shifting from incremental improvements on its legacy platform to a fuller AI-native rebuild, with management arguing the old system is too slow and costly to support the next stage of growth.

No guidance: The company withdrew guidance, saying it does not want quarterly targets to distract from the longer-term platform and product overhaul.

Q1 beat on EBITDA: First-quarter EBITDA came in at about $23 million, above the prior $10 million to $15 million range, helped by higher-than-expected capitalized engineering labor and some one-time/timing benefits.

Demand softness in March: Revenue was strong in January and February, but March weakened as homeowners backed away from larger projects and Pros pulled back lead budgets, which management blamed primarily on macro pressure.

AI opportunity: Management is leaning into AI agents, LLM traffic, and agentic coding, saying these tools could improve conversion, help Pros win more jobs, and open a software-like revenue stream beyond lead generation.

Capital allocation: Angi bought about $100 million of bonds, roughly 20% of debt outstanding, at an almost 9% discount, while staying disciplined on M&A and unable to repurchase shares until next year.

Key Financials
EBITDA
$23 million
Engineering labor capitalization
about $2 million more than expected
Cash flow cushion
give or take $50 million a year
Debt repurchase
about $100 million
Bond repurchase discount
almost 9% discount
Homeowners touching AI helper
50%
NPS improvement
30 points
Pro churn improvement
30%
Current market capture
below 1.5%
Small Pro share
3% to 4%
Large Pro share
under 0.5%
Revenue opportunity at 10% take rate
$2.5 billion
Residential and specialty construction TAM
$700 billion
Software and services market
$50 billion to $70 billion
Platform transition timing
next 12 months or so
Expected revenue acceleration
2027
Earnings Call Recording
Other Earnings Calls

Management

Mr. Jeffrey W. Kip
CEO & Director
No Bio Available
Mr. Andrew Russakoff
Chief Financial Officer
No Bio Available
Dr. Kulesh Shanmugasundaram
Chief Technology Officer
No Bio Available
Mr. David Elias Fleischman
Chief Product Officer
No Bio Available
Ms. Bailey Carson
Chief Operating Officer
No Bio Available
Ms. Julie Gosal Hoarau
Chief Accounting Officer
No Bio Available
Mr. Mark Schneider CPA
Head of Investor Relations
No Bio Available
Ms. Shannon M. Shaw
Chief Legal Officer & Secretary
No Bio Available
Mr. Michael Wanderer
Chief People Officer
No Bio Available
Ms. Angela R. Hicks Bowman
Chief Customer Officer & Director
No Bio Available

Contacts

Address
NEW YORK
New York City
555 West 18Th Street
Contacts
+12123147230.0
ir.angi.com
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