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Angi Q3 revenue falls 9%, slightly misses estimates on lower lead volume

By Reuters News


Overview

  • US home services marketplace's Q3 revenue fell 9%, a slight miss versus analyst expectations

  • Adjusted EBITDA for Q3 beat analyst expectations, driven by lower fixed and variable expenses

  • Company to cut about 300 jobs, aiming for $50-60 mln in annual savings


Outlook

  • Company expects $50 mln to $60 mln in annual run-rate savings from workforce reduction

  • Company anticipates $18 mln to $30 mln in restructuring charges, mainly in Q4 2026 and H1 2027

  • Angi aims to improve profitability and cash flow in the near term


Result Drivers

  • LOWER LEAD VOLUME - Co said revenue fell 9% as higher monetization was offset by lower Lead volume

  • SHIFT TO LARGER PROS - Revenue per Lead and average monthly revenue per active Pro rose as business shifted toward Large Pros, where revenue grew over 20%

  • HIGHER DEPRECIATION - Operating income decline reflected lower revenue and higher depreciation, including accelerated depreciation on capitalized software tied to planned retirement of legacy technology platform


Company press release: Full Story


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Miss*

$242 mln

$242.67 mln (7 Analysts)

Q3 EPS

$0.03

Q3 Net Income

$1.30 mln

Q3 Adjusted EBITDA

Beat

$42.20 mln

$28.65 mln (7 Analysts)

Q3 Operating Income

$15.50 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the online services peer group is "buy."

  • Wall Street's median 12-month price target for Angi Inc is $6.00, about 3.6% above its November 2 closing price of $5.79


Reuters Recommended Reads

  • Nov 2 - Upwork Q3 revenue beats analyst estimates; acquires WorkMotion to strengthen enterprise offering

  • Nov 2 - Hinge Health Q3 revenue jumps 52%, beats estimates

  • Nov 3 - Fiserv cuts 3,000 employees and contractor jobs under new CEO


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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