Angi Inc. ( (ANGI) ) has released its Q4 earnings. Here is a breakdown of the information Angi Inc. presented to its investors.
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Angi Inc. is a leading platform in the home services sector, connecting homeowners with skilled professionals to complete various projects, from maintenance to renovations. The company, part of the NASDAQ, is recognized for its extensive network and commitment to improving home services accessibility and efficiency.
In its latest quarterly earnings report, Angi Inc. announced a decrease in revenue by 11% year-over-year, amounting to $267.9 million, with a significant 72% drop in operating income to $2 million. Notable highlights include the IAC Board’s approval to spin off Angi, expected to conclude in the first half of 2025, and the appointment of Joey Levin as Executive Chairman.
Key financial metrics revealed a decline in adjusted EBITDA by 23% to $31.8 million, primarily due to reduced revenue in Ads and Leads and Services segments. Despite these declines, international revenue marked a positive growth of 5%. The company also reported an increase in net cash provided by operating activities, contributing to a higher free cash flow of $105 million.
Looking ahead, Angi Inc. projects a breakeven operating income for Q1 2025, with anticipated adjusted EBITDA exceeding $20 million. For the full year 2025, the company expects operating income between $25-$60 million and adjusted EBITDA ranging from $135-$150 million, indicating a cautiously optimistic outlook.
