angi-20260331

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended March 31, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from__________to__________

Commission File No. 001-38220

Angi Inc.

(Exact name of Registrant as specified in its charter)


Delaware						82-1204801
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

3601 Walnut Street, Denver, CO 80205

(Address of registrant’s principal executive offices)

(303) 963-7200

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of exchange on which registered

Class A Common Stock, par value $0.001

ANGI

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of May 1, 2026, the following shares of the registrant’s common stock were outstanding:


Class A Common Stock			40,448,016
Class B Common Stock			—
Class C Common Stock			—
Total outstanding Common Stock			40,448,016

TABLE OF CONTENTS


		Page Number
PART I
Item 1.	Consolidated Financial Statements
	Consolidated Balance Sheet	3
	Consolidated Statement of Operations	4
	Consolidated Statement of Comprehensive Operations	5
	Consolidated Statement of Shareholders’ Equity	6
	Consolidated Statement of Cash Flows	7
	Notes to Consolidated Financial Statements
	Note 1—The Company and Summary of Significant Accounting Policies	8
	Note 2—Financial Instruments and Fair Value Measurements	11
	Note 3—Restructuring	12
	Note 4—Long-term Debt	13
	Note 5—Accumulated Other Comprehensive Income	14
	Note 6—Segment Information	15
	Note 7—Income Taxes	18
	Note 8—Earnings per Share	20
	Note 9—Financial Statement Details	21
	Note 10—Contingencies	22
	Note 11—Related Party Transactions	22

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	24
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	38
Item 4.	Controls and Procedures	39
PART II
Item 1.	Legal Proceedings	40
Item 1A.	Risk Factors	40
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	42
Item 5.	Other Information	43
Item 6.	Exhibits	44
	Signatures	46

Table of Contents

PART I

FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements

Angi Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEET

(Unaudited)


	March 31, 2026		December 31, 2025
	(In thousands, except par value amounts)
ASSETS
Cash and cash equivalents	$	244,580	$	303,701

Accounts receivable, net	37,366		33,054
Other current assets	31,358		29,627

Total current assets	313,304		366,382

Capitalized software, leasehold improvements and equipment, net	101,373		99,101
Goodwill	889,220		890,066
Intangible assets, net	166,978		167,142
Deferred income taxes	125,317		126,229
Other non-current assets, net	29,073		31,448

TOTAL ASSETS	$	1,625,265	$	1,680,368

LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES:

Accounts payable	$	35,065	$	34,031
Deferred revenue	20,996		22,096
Accrued expenses and other current liabilities	153,137		166,311

Total current liabilities	209,198		222,438

Long-term debt, net	471,389		497,667

Deferred income taxes	1,455		1,498
Other long-term liabilities	28,499		31,399




Commitments and contingencies

SHAREHOLDERS’ EQUITY:
Class A common stock, $0.001 par value; authorized 2,000,000 shares; issued 54,641 and 54,282 shares, respectively, and outstanding 40,421 and 40,062, respectively	538		538
Class B convertible common stock, $0.001 par value; authorized 1,500,000 shares; no shares issued and no shares outstanding	—		—
Class C common stock, $0.001 par value; authorized 1,500,000 shares; no shares issued and outstanding	—		—
Additional paid-in capital	1,424,207		1,427,693
Accumulated deficit	(159,858)		(150,880)
Accumulated other comprehensive income	5,760		5,938
Treasury stock, 14,220 and 14,220 shares, respectively	(355,923)		(355,923)


Total shareholders’ equity	914,724		927,366
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,625,265	$	1,680,368

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

Angi Inc. and Subsidiaries

CONSOLIDATED STATEMENT OF OPERATIONS

(Unaudited)


	Three Months Ended March 31,
	2026		2025
	(In thousands, except per share data)
Revenue	$	238,150	$	245,913
Cost of revenue (exclusive of depreciation shown separately below)	9,693		13,015
Gross profit	228,457		232,898
Operating costs and expenses:
Selling and marketing expense	139,933		118,541
General and administrative expense	57,931		57,319
Product development expense	10,440		27,087
Depreciation	14,694		9,948
Restructuring	14,923		—

Total operating costs and expenses	237,921		212,895
Operating (loss) income	(9,464)		20,003
Interest expense	(5,330)		(5,044)
Other income, net	5,099		4,828
(Loss) earnings before income taxes	(9,695)		19,787
Income tax benefit (provision)	717		(4,681)




Net (loss) earnings attributable to Angi Inc. shareholders	$	(8,978)	$	15,106





Per share information attributable to Angi Inc. shareholders:
Basic (loss) earnings per share	$	(0.22)	$	0.30
Diluted (loss) earnings per share	$	(0.22)	$	0.30

Stock-based compensation expense by function:

Selling and marketing expense	$	275	$	636
General and administrative expense	2,853		(6,847)
Product development expense	(376)		3,924
Total stock-based compensation expense	$	2,752	$	(2,287)

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

Angi Inc. and Subsidiaries

CONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS

(Unaudited)


	Three Months Ended March 31,
	2026		2025
	(In thousands)
Net (loss) earnings	$	(8,978)	$	15,106
Other comprehensive (loss) income:
Change in foreign currency translation adjustment	(178)		2,879

Total other comprehensive (loss) income	(178)		2,879





Comprehensive (loss) income attributable to Angi Inc. shareholders	$	(9,156)	$	17,985

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

Angi Inc. and Subsidiaries

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY

Three Months Ended March 31, 2026 and 2025

(Unaudited)


		Class A Common Stock $0.001 Par Value					Class B Convertible Common Stock $0.001 Par Value					Class C Common Stock $0.001 Par Value

																				Accumulated Other Comprehensive Income (Loss)				Total Shareholders' Equity
																Additional Paid-in Capital		Accumulated Deficit				Treasury Stock
	$			Shares		$			Shares		$			Shares
	(In thousands)
Balance as of December 31,2025		$	538		54,282		$	—		—		$	—		—	$	1,427,693	$	(150,880)	$	5,938	$	(355,923)		$	927,366
Net loss		—			—		—			—		—			—	—		(8,978)		—		—			(8,978)
Other comprehensive loss		—			—		—			—		—			—	—		—		(178)		—			(178)
Stock-based compensation expense		—			—		—			—		—			—	4,150		—

SEC Form 10-Q filed by Angi Inc.