# EDGAR Filing Document

**Accession Number:** 0001705110
**File Stem:** 0001705110-25-000132
**Filing Date:** 2025-11
**Character Count:** 53270
**Document Hash:** 461e63d11bc2dd941591e1092dcf49df
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001705110-25-000132.hdr.sgml**: 20251104

**ACCESSION NUMBER**: 0001705110-25-000132

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251104

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251104

**DATE AS OF CHANGE**: 20251104

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Angi Inc.
- **CENTRAL INDEX KEY:** 0001705110
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-ADVERTISING [7310]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 821204801
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38220
- **FILM NUMBER:** 251449295

**BUSINESS ADDRESS:**
- **STREET 1:** 555 WEST 18TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10011
- **BUSINESS PHONE:** 2123147230

**MAIL ADDRESS:**
- **STREET 1:** 555 WEST 18TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10011

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ANGI Homeservices Inc.
- **DATE OF NAME CHANGE:** 20170504

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Halo TopCo, Inc.
- **DATE OF NAME CHANGE:** 20170427

?xml version='1.0' encoding='ASCII'? angi-20251104

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): November 4, 2025

**Angi Inc.**

(Exact name of registrant as specified in charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-38220** | **82-1204801** |
| (State or other jurisdiction<br>of incorporation) | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |

---

---

| | | |
|:---|:---|:---|
| **3601 Walnut Street,** | **Suite 700** | |
| **Denver,** | **CO** | **80205** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(303) 963-7200** 

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Class A Common Stock, par value $0.001 | ANGI | The Nasdaq Stock Market LLC |
|  |  | (Nasdaq Global Select Market) |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 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. ☐

------

**Item 2.02&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition.**

**Item 7.01&nbsp;&nbsp;&nbsp;&nbsp;Regulation FD Disclosure**

On November 4, 2025, the Registrant announced that it had released its results for the quarter ended September 30, 2025. The full text of the related press release, which is posted on the "Investor Relations" section of the Registrant's website at *https://ir.angi.com/quarterly-earnings* and appears in Exhibit 99.1 hereto, is incorporated herein by reference.

Exhibit 99.1 is being furnished under both Item 2.02 "Results of Operations and Financial Condition" and Item 7.01 "Regulation FD Disclosure."

The information contained in this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of such section and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

**Item 9.01. Financial Statements and Exhibits**

---

| | |
|:---|:---|
| **Exhibit<br>Number** | **Description** |
| <u>[99.1](q32025earningsrelease.htm)</u> | <u>[Press Release of Angi Inc., dated](q32025earningsrelease.htm)[November 4](q32025earningsrelease.htm)[, 2025.](q32025earningsrelease.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | ANGI INC. | ANGI INC. |
| | By: | /s/ Shannon M. Shaw |
| | Name: | Shannon M. Shaw |
| | Title: | Chief Legal Officer |
| Date: November 4, 2025 |  |  |

---

## Exhibit 99.1

Page 1 of 16

![image.jpg](image.jpg)&nbsp;&nbsp;&nbsp;&nbsp;

ANGI REPORTS Q3 2025

*Proprietary Service Requests grew 11% and Proprietary Leads grew* 16%

*Operating Income grew 179% and Adjusted EBITDA grew 12%* 

*Angi repurchased 14.7% of its shares outstanding this year through October 31, 2025*

DENVER — November 4, 2025 — Angi Inc. (NASDAQ: ANGI) released its third quarter results today and separately posted a letter to shareholders from Jeff Kip, the Chief Executive Officer of Angi Inc., on the Investor Relations section of Angi Inc.'s website at <u>ir.angi.com</u>.

---

| | | | |
|:---|:---|:---|:---|
| **ANGI INC. SUMMARY RESULTS** | **ANGI INC. SUMMARY RESULTS** | **ANGI INC. SUMMARY RESULTS** | **ANGI INC. SUMMARY RESULTS** |
| *($ in millions except per share amounts)* | *($ in millions except per share amounts)* | *($ in millions except per share amounts)* | *($ in millions except per share amounts)* |
|  | **Q3 2025** | **Q3 2024** | **Growth** |
| Revenue | $265.6 | $296.7 | -10% |
| Operating income | 21.8 | 7.8 | 179% |
| Net earnings | 10.6 | 35.2 | -70% |
| Diluted earnings per share | $0.23 | $0.70 | -67% |
| Adjusted EBITDA | 39.7 | 35.4 | 12% |
| *See reconciliations of GAAP to non-GAAP measures beginning on page <u>[11](#i56aef05156314e8ba874e14bd1e38840_28)</u>.* | *See reconciliations of GAAP to non-GAAP measures beginning on page <u>[11](#i56aef05156314e8ba874e14bd1e38840_28)</u>.* | *See reconciliations of GAAP to non-GAAP measures beginning on page <u>[11](#i56aef05156314e8ba874e14bd1e38840_28)</u>.* | *See reconciliations of GAAP to non-GAAP measures beginning on page <u>[11](#i56aef05156314e8ba874e14bd1e38840_28)</u>.* |

---

**Q3 2025 PERFORMANCE AND UPDATES**

• Revenue was $265.6 million, down 10% from the prior year, driven by 67% and 81% lower Network Service Requests and Leads, respectively, due to the full implementation of homeowner choice in January 2025.

• Proprietary Service Requests increased 11% year-over-year in Q3 2025 (vs. 7% in Q2 2025) and Proprietary Leads increased 16% year-over-year in Q3 2025 (vs. 16% in Q2 2025), primarily driven by improvements in customer experience and strong performance in SEM.

• Revenue per Lead increased 11% year-over-year in Q3 2025 (vs. 5% in Q2 2025), primarily driven by the consolidation of the sales force in March 2025 resulting in a mix shift in the pro base away from Pros with higher effective discounts.

• Operating income was $21.8 million, up from $7.8 million in Q3 2024, which reflects a $5.7 million decrease in depreciation due primarily to lower capitalized software and real estate-related write-offs in 2024, and a $4.0 million decrease in stock-based compensation expense.

• Adjusted EBITDA was $39.7 million, up from $35.4 million in Q3 2024, primarily driven by lower pro acquisition expense resulting from a reduction in sales headcount over the prior year to optimize long-term profitability, and lower fixed expense.

• Between August 4, 2025 and October 31, 2025, the Company repurchased 1.3 million common shares for an aggregate of $20.1 million.

• On September 17, 2025, the Board of Directors approved a new share repurchase authorization of approximately 3.2 million shares.

------

Page 2 of 16

• The Company recorded an income tax provision of $10.2 million in Q3 2025 for an effective tax rate of 49% due primarily to changes to tax laws enacted in the period, the effect of cross-border tax laws and state taxes, partially offset by research credits. In the prior year period, the Company recorded an income tax benefit of $26.6 million, which was due primarily to the release of a valuation allowance for foreign net operating losses in the amount of $31.1 million following the purchase of the remaining noncontrolling interests of a foreign subsidiary.

**OPERATING METRICS**

In Q1 2025, the Company introduced new metrics to better reflect the core business activities, targeted customer behaviors, and unit economics. Definitions can be found on page 16, and more information regarding the changes is available in the Q1 2025 Earnings Release and the "Angi Change to Key Metrics Q1 2025 Primer" document available at https://ir.angi.com/quarterly-earnings.

---

| | | | |
|:---|:---|:---|:---|
| ***QUARTERLY PRO METRICS*** | ***QUARTERLY PRO METRICS*** | ***QUARTERLY PRO METRICS*** | ***QUARTERLY PRO METRICS*** |
| ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** |
| | **Q3 2025** | **Q3 2024** | **Growth** |
| Acquired Pros | 22 | 34 | -35% |
| Average Monthly Active Pros | 118 | 152 | -22% |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ***TRAILING TWELVE MONTH PRO METRICS*** | ***TRAILING TWELVE MONTH PRO METRICS*** | ***TRAILING TWELVE MONTH PRO METRICS*** | ***TRAILING TWELVE MONTH PRO METRICS*** | ***TRAILING TWELVE MONTH PRO METRICS*** | ***TRAILING TWELVE MONTH PRO METRICS*** | ***TRAILING TWELVE MONTH PRO METRICS*** | ***TRAILING TWELVE MONTH PRO METRICS*** | ***TRAILING TWELVE MONTH PRO METRICS*** |
| ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** |
| | **Q3 2025** | **Q3 2024** | **Year-over-Year** | | **Q3 2024** | **Q3 2023** | **Year-over-Year** | |
| **<u>Average Monthly Active Pros by cohort - Pros acquired:</u>** | **<u>Average Monthly Active Pros by cohort - Pros acquired:</u>** | **<u>Average Monthly Active Pros by cohort - Pros acquired:</u>** | **<u>Average Monthly Active Pros by cohort - Pros acquired:</u>** | **<u>Average Monthly Active Pros by cohort - Pros acquired:</u>** | **<u>Average Monthly Active Pros by cohort - Pros acquired:</u>** | **<u>Average Monthly Active Pros by cohort - Pros acquired:</u>** | **<u>Average Monthly Active Pros by cohort - Pros acquired:</u>** | **Retention Growth** |
| Q4 2024 - Q3 2025 | 23 |  |  | Q4 2023 - Q3 2024 | 38 |  |  | **Retention Growth** |
| Q4 2023 - Q3 2024 | 28 | 38 | 75% | Q4 2022 - Q3 2023 | 36 | 45 | 80% | -7% |
| Base Pros<br>*Q3 2023 & prior* | 79 | 119 | 66% | Base Pros<br>*Q3 2022 & prior* | 83 | 125 | 67% | -1% |
| **Total** | **131** | **157** |  |  | **157** | **169** |  |  |
| *year-over-year growth* | *-17 %* |  |  |  | *-7 %* |  |  |  |
| **Acquired Pros** | **97** | **155** | *-37%* |  | **155** | **236** | *-34%* |  |
| *Average Monthly Churn* | *5.9 %* |  |  |  | *6.4 %* |  |  | 7% |

---

• Over the trailing twelve month period ended Q3 2025, there were 97,000 Acquired Pros, down 37% year-over-year, and, of the Pros acquired in that period, 23,000 were active on average each month.

• Of the Pros acquired and active the prior year (between Q4 2023 and Q3 2024), 28,000 were active on average each month over the trailing twelve months ended Q3 2025, versus 38,000 in the prior year (or 75% year-over-year). In the prior year, the year-over-year comparison for the comparable cohort of Pros was 80%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ This reflects an 18% cumulative retention after one year (28,000 / 155,000), up 21% from 15% cumulative retention after one year (36,000 / 236,000) for the cohort of Pros acquired the year prior.

------

Page 3 of 16

• Of the Base Pros (acquired in Q3 2023 and prior) that were active in the prior year (trailing twelve months ended Q3 2024), 79,000 were active on average each month over the trailing twelve months ended Q3 2025, versus 119,000 in the prior year (or 66% year-over-year). In the prior year, the year-over-year comparison for the comparable cohort of Pros was 67%.

• Average Monthly Churn was 5.9% over the trailing twelve month period ended Q3 2025, 7% lower than 6.4% over the trailing twelve month period ended Q3 2024.

• Over the trailing twelve month period ended Q3 2025, there were 131,000 Average Monthly Active Pros, down 17% year-over-year, driven by lower Pro acquisition, partially offset by improved Pro retention.

***Service Requests and Leads***

---

| | | | |
|:---|:---|:---|:---|
| ***SERVICE REQUESTS AND LEADS*** | ***SERVICE REQUESTS AND LEADS*** | ***SERVICE REQUESTS AND LEADS*** | ***SERVICE REQUESTS AND LEADS*** |
| ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** | ***(in thousands, rounding differences may occur)*** |
| | **Q3 2025** | **Q3 2024** | **Growth** |
| **Service Requests** | | | |
| Proprietary Channels | 3791 | 3415 | 11% |
| Network Channels  | 353 | 1075 | -67% |
| **Total** | **4144** | **4490** | **-8%** |
| **Leads** |  |  |  |
| Proprietary Channels | 4946 | 4269 | 16% |
| Network Channels | 495 | 2597 | -81% |
| **Total** | **5441** | **6867** | **-21%** |

---

• Service Requests were down 8% year-over-year, driven by a 67% year-over-year decline in Service Requests in Network Channels, partially offset by a 11% year-over-year increase in Service Requests in Proprietary Channels.

• Leads were down 21% year-over-year, driven by a 81% year-over-year decline in Leads in Network Channels, partially offset by a 16% year-over-year increase in Leads in Proprietary Channels.

------

Page 4 of 16

***LIQUIDITY AND CAPITAL RESOURCES***

As of September 30, 2025:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Angi Inc. had 43.7 million shares of Class A and no shares of Class B common stock outstanding,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Angi Inc. had $340.7 million in cash and cash equivalents, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ANGI Group, LLC (a subsidiary of Angi Inc.) had $500 million of 3.875% Senior Notes due August 15, 2028.

As of October 31, 2025, Angi Inc. had no shares remaining of its 5 million stock repurchase authorization, which was approved by the Angi Inc. Board of Directors on May 5, 2025. On September 17, 2025, the Angi Inc. Board of Directors approved a new share repurchase authorization of approximately 3.2 million shares, of which all are remaining as of October 31, 2025. Share repurchases may be made over an indefinite period of time in the open market and in privately negotiated transactions, depending on those factors management deems relevant at any particular time, including, without limitation, market conditions, share price and future outlook.

***CONFERENCE CALL***

Angi Inc. will host a conference call to answer questions regarding its third quarter results on Wednesday, November 5, 2025, at 8:30 a.m. Eastern Time. This conference call will include the disclosure of certain information, including forward-looking information, which may be material to an investor's understanding of Angi Inc.'s businesses. The conference call will be accessible to the public at ir.angi.com and a recording of the webcast will be made available at the location.

------

Page 5 of 16

***DILUTIVE SECURITIES***

Angi Inc. has various dilutive securities. The table below details these securities as well as potential dilution at various stock prices (shares in millions; rounding differences may occur).

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| |<br>**Shares** | **Avg. Exercise**<br>**Price** | **As of**<br>**10/31/25** | **Dilution At:** | **Dilution At:** | **Dilution At:** | **Dilution At:** |
| Share Price |  |  | $**13.27** | $**14.00** | $**15.00** | $**16.00** | $**17.00** |
| Absolute Shares as of 10/31/25 | 43.2 |  | **43.2** | **43.2** | **43.2** | **43.2** | **43.2** |
| SARs and Options | 1.0 | $18.45 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| RSUs and MSUs | 3.5 |  | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 |
| Total Dilution |  |  | **0.9** | **0.9** | **0.9** | **0.9** | **0.9** |
| &nbsp;&nbsp;&nbsp;&nbsp;% Dilution |  |  | 2.1% | 2.1% | 2.1% | 2.1% | 2.1% |
| Total Diluted Shares Outstanding |  |  | **44.1** | **44.1** | **44.1** | **44.1** | **44.1** |

---

The dilutive securities presentation is calculated using the method and assumptions described below, which are different from those used for GAAP dilution, which is calculated based on the treasury stock method.

The Company currently settles all equity awards on a net basis; therefore, the dilutive effect is presented as the net number of shares expected to be issued upon exercise or vesting, and in the case of options, assuming no proceeds are received by the Company. Any required withholding taxes are paid in cash by the Company on behalf of the employees assuming a withholding tax rate of 50%. In addition, the estimated income tax benefit from the tax deduction received upon the exercise or vesting of these awards is assumed to be used to repurchase Angi Inc. shares. Assuming all awards were exercised or vested on October 31, 2025, withholding taxes paid by the Company on behalf of the employees upon net settlement would have been $22.8 million, assuming a stock price of $13.27 and a 50% withholding rate.

------

Page 6 of 16

**ANGI INC. AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF OPERATIONS**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** |
| Revenue | $265633 | $296719 | $789767 | $917243 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue (exclusive of depreciation shown separately below) | 12460 | 14750 | 38617 | 41399 |
| **Gross profit** | 253173 | 281969 | 751150 | 875844 |
| Operating costs and expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling and marketing expense | 129314 | 155443 | 387308 | 470817 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense | 69410 | 76827 | 200810 | 246717 |
| &nbsp;&nbsp;&nbsp;&nbsp;Product development expense | 20749 | 24314 | 71430 | 72849 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 11918 | 17568 | 32144 | 65741 |
| Total operating costs and expenses | 231391 | 274152 | 691692 | 856124 |
| **Operating income** | 21782 | 7817 | 59458 | 19720 |
| Interest expense | (5069) | (5045) | (15164) | (15124) |
| Other income, net | 4090 | 5979 | 13737 | 15033 |
| **Earnings before income taxes** | 20803 | 8751 | 58031 | 19629 |
| Income tax (provision) benefit | (10198) | 26612 | (21423) | 18505 |
| **Net earnings** | 10605 | 35363 | 36608 | 38134 |
| Net earnings attributable to noncontrolling interests |  | (202) |  | (844) |
| **Net earnings attributable to Angi Inc. shareholders** | $10605 | $35161 | $36608 | $37290 |
| **Per share information attributable to Angi Inc. shareholders:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic earnings per share | $0.24 | $0.71 | $0.78 | $0.74 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings per share | $0.23 | $0.70 | $0.77 | $0.74 |
| **Stock-based compensation expense by function:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling and marketing expense | $748 | $1151 | $2192 | $3528 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense | 3983 | 7309 | 773 | 20309 |
| &nbsp;&nbsp;&nbsp;&nbsp;Product development expense | 1251 | 1564 | 5784 | 4256 |
| Total stock-based compensation expense | $5982 | $10024 | $8749 | $28093 |

---

------

Page 7 of 16

---

| | | |
|:---|:---|:---|
| **ANGI INC. AND SUBSIDIARIES** | **ANGI INC. AND SUBSIDIARIES** | **ANGI INC. AND SUBSIDIARIES** |
| **CONSOLIDATED BALANCE SHEET** | **CONSOLIDATED BALANCE SHEET** | **CONSOLIDATED BALANCE SHEET** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **September 30, 2025** | **December 31, 2024** |
| | **(In thousands)** | **(In thousands)** |
| **ASSETS** | | |
| Cash and cash equivalents | $340689 | $416434 |
| Accounts receivable, net | 38354 | 36670 |
| Other current assets | 28320 | 41981 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 407363 | 495085 |
| Capitalized software, leasehold improvements and equipment, net | 93094 | 79564 |
| Goodwill | 889662 | 883440 |
| Intangible assets, net | 168855 | 167662 |
| Deferred income taxes | 157276 | 169073 |
| Other non-current assets, net | 31141 | 35911 |
| **TOTAL ASSETS** | $1747391 | $1830735 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |
| **LIABILITIES:** |  |  |
| Accounts payable | $38897 | $18319 |
| Deferred revenue | 29937 | 42008 |
| Accrued expenses and other current liabilities | 146401 | 171351 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 215235 | 231678 |
| Long-term debt, net | 497457 | 496840 |
| Deferred income taxes | 1023 | 1500 |
| Other long-term liabilities | 39606 | 37916 |
| Commitments and contingencies |  |  |
| **SHAREHOLDERS' EQUITY:** |  |  |
| Class A common stock | 537 | 113 |
| Class B convertible common stock |  | 422 |
| Class C common stock |  |  |
| Additional paid-in capital | 1455785 | 1465640 |
| Accumulated deficit | (158104) | (195015) |
| Accumulated other comprehensive income (loss) | 5816 | (2495) |
| Treasury stock | (309964) | (205864) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 994070 | 1062801 |
| **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | $1747391 | $1830735 |

---

------

Page 8 of 16

---

| | | |
|:---|:---|:---|
| **ANGI INC. AND SUBSIDIARIES** | **ANGI INC. AND SUBSIDIARIES** | **ANGI INC. AND SUBSIDIARIES** |
| **CONSOLIDATED STATEMENT OF CASH FLOWS** | **CONSOLIDATED STATEMENT OF CASH FLOWS** | **CONSOLIDATED STATEMENT OF CASH FLOWS** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
|  | **2025** | **2024** |
|  | **(In thousands)** | **(In thousands)** |
| **Cash flows from operating activities:** |  |  |
| **Net earnings** | $36608 | $38134 |
| Adjustments to reconcile net earnings to net cash (used in) provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 37273 | 43694 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 32144 | 65741 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 16894 | (24595) |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 8749 | 28093 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash lease expense (including impairment of right-of-use assets) | 5495 | 13813 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other adjustments, net | (1255) | 373 |
| Changes in assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (37863) | (44665) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 14472 | 21094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and other liabilities | (13865) | (3945) |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | (9745) | (13870) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable and receivable | (1727) | (8307) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | (12191) | 344 |
| **Net cash provided by operating activities** | 74989 | 115904 |
| **Cash flows from investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | (40872) | (37547) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales of fixed assets | 75 | 6 |
| **Net cash used in investing activities** | (40797) | (37541) |
| **Cash flows from financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of treasury stock | (102657) | (25675) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchase of noncontrolling interests |  | (16019) |
| &nbsp;&nbsp;&nbsp;&nbsp;Withholding taxes paid on behalf of employees on net settled stock-based awards | (6907) | (5652) |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution from IAC pursuant to the tax sharing agreement |  | (198) |
| **Net cash used in financing activities** | (109564) | (47544) |
| **Total cash (used) provided** | (75372) | 30819 |
| &nbsp;&nbsp;&nbsp;&nbsp;Effect of exchange rate changes on cash and cash equivalents and restricted cash | (484) | 448 |
| **Net (decrease) increase in cash and cash equivalents and restricted cash** | (75856) | 31267 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents and restricted cash at beginning of period | 416545 | 364301 |
| **Cash and cash equivalents and restricted cash at end of period** | $340689 | $395568 |

---

------

Page 9 of 16

**Significant Expenses**

The following tables present the significant expenses included in the Company's segment reporting performance measure, Segment Adjusted EBITDA, that are regularly provided to the Chief Operating Decision Maker (CODM): &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** | **As a percentage of revenue** | **As a percentage of revenue** |
| **Domestic**  |  |  |  |  |
| &nbsp;&nbsp;Cost of revenue | $11270 | $13692 | 5% | 5% |
| &nbsp;&nbsp;Consumer marketing expense  | 84869 | 84431 | 36% | 32% |
| &nbsp;&nbsp;Variable expense | 26979 | 29835 | 12% | 11% |
| &nbsp;&nbsp;Pro acquisition expense | 34068 | 57577 | 15% | 22% |
| &nbsp;&nbsp;Fixed expense  | 45006 | 47658 | 19% | 18% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Domestic expenses | $202192 | $233193 | 87% | 88% |
| **International** |  |  |  |  |
| &nbsp;&nbsp;Cost of revenue | $1190 | $1058 | 4% | 3% |
| &nbsp;&nbsp;Consumer marketing expense | 4084 | 3545 | 13% | 11% |
| &nbsp;&nbsp;Variable expense | 5117 | 4861 | 16% | 15% |
| &nbsp;&nbsp;Pro acquisition expense | 2312 | 6562 | 7% | 21% |
| &nbsp;&nbsp;Fixed expense | 11249 | 12093 | 35% | 38% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total International expenses | $23952 | $28119 | 74% | 88% |
| **Consolidated** |  |  |  |  |
| &nbsp;&nbsp;Cost of revenue  | $12460 | $14750 | 5% | 5% |
| &nbsp;&nbsp;Consumer marketing expense  | 88953 | 87976 | 33% | 30% |
| &nbsp;&nbsp;Variable expense | 32096 | 34696 | 12% | 12% |
| &nbsp;&nbsp;Pro acquisition expense | 36380 | 64139 | 14% | 22% |
| &nbsp;&nbsp;Fixed expense  | 56255 | 59751 | 21% | 20% |
| Total expenses | $226144 | $261312 | 85% | 88% |

---

Pro acquisition expense for the three months ended September 30, 2025 excludes $1.9 million of commissions capitalized in the three months ended September 30, 2025 and includes $6.5 million of capitalized commissions amortized from prior periods. Pro acquisition expense for the three months ended September 30, 2024 excludes $9.2 million of commissions capitalized in the three months ended September 30, 2024 and includes $12.1 million of capitalized commissions amortized from prior periods.

------

Page 10 of 16

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** | **As a percentage of revenue** | **As a percentage of revenue** |
| **Domestic**  |  |  |  |  |
| &nbsp;&nbsp;Cost of revenue  | $35619 | $38445 | 5% | 5% |
| &nbsp;&nbsp;Consumer marketing expense  | 242999 | 245975 | 35% | 30% |
| &nbsp;&nbsp;Variable expense | 81507 | 94370 | 12% | 12% |
| &nbsp;&nbsp;Pro acquisition expense | 108243 | 186456 | 16% | 23% |
| &nbsp;&nbsp;Fixed expense  | 142761 | 153534 | 21% | 19% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Domestic expenses | $611129 | $718780 | 88% | 88% |
| **International** |  |  |  |  |
| &nbsp;&nbsp;Cost of revenue | $2998 | $2954 | 3% | 3% |
| &nbsp;&nbsp;Consumer marketing expense | 13771 | 12370 | 14% | 12% |
| &nbsp;&nbsp;Variable expense | 16496 | 12704 | 17% | 13% |
| &nbsp;&nbsp;Pro acquisition expense | 10429 | 17820 | 11% | 18% |
| &nbsp;&nbsp;Fixed expense | 34786 | 39063 | 35% | 39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total International expenses | $78480 | $84911 | 80% | 85% |
| **Consolidated** |  |  |  |  |
| &nbsp;&nbsp;Cost of revenue  | $38617 | $41399 | 5% | 5% |
| &nbsp;&nbsp;Consumer marketing expense  | 256770 | 258345 | 33% | 28% |
| &nbsp;&nbsp;Variable expense | 98003 | 107074 | 12% | 12% |
| &nbsp;&nbsp;Pro acquisition expense | 118672 | 204276 | 15% | 22% |
| &nbsp;&nbsp;Fixed expense  | 177547 | 192597 | 22% | 21% |
| Total expenses | $689609 | $803691 | 87% | 88% |

---

Pro acquisition expense for the nine months ended September 30, 2025 excludes $7.7 million of commissions capitalized in the nine months ended September 30, 2025 and includes $23.3 million of capitalized commissions amortized from prior periods. Pro acquisition expense for the nine months ended September 30, 2024 excludes $33.6 million of commissions capitalized in the nine months ended September 30, 2024 and includes $39.0 million of capitalized commissions amortized from prior periods.

**Revenue by Segment**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | |
| | **2025** | **2024** | **Growth** | **2025** | **2024** | **Growth** |
| *($ in millions; rounding differences may occur)* |  |  |  |  |  |  |
| Domestic | $233.2 | $264.9 | -12% | $691.3 | $816.9 | -15% |
| International | 32.4 | 31.8 | 2% | 98.4 | 100.4 | -2% |
| &nbsp;&nbsp;Total Revenue | $265.6 | $296.7 | -10% | $789.8 | $917.2 | -14% |

---

------

Page 11 of 16

***RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES AND SIGNIFICANT EXPENSES***

***($ in millions; rounding differences may occur)***

**RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** |
| | **Operating Income** | **Stock-Based<br>Compensation Expense** | **Depreciation** | **Adjusted<br>EBITDA** |
| Domestic | $13.8 | $5.4 | $11.9 | $31.1 |
| International | 8.0 | 0.6 |  | 8.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $21.8 | $6.0 | $11.9 | $39.7 |
| Interest expense | (5.1) |  |  |  |
| Other income, net | 4.1 |  |  |  |
| Earnings before income taxes | 20.8 |  |  |  |
| Income tax provision | (10.2) |  |  |  |
| Net earnings attributable to Angi Inc. shareholders | $10.6 |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** |
| | **Operating Income** | **Stock-Based<br>Compensation Expense** | **Depreciation** | **Adjusted<br>EBITDA** |
| Domestic | $5.1 | $9.9 | $16.7 | $31.7 |
| International | 2.7 | 0.1 | 0.9 | 3.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $7.8 | $10.0 | $17.6 | $35.4 |
| Interest expense | (5.0) |  |  |  |
| Other income, net | 6.0 |  |  |  |
| Earnings before income taxes | 8.8 |  |  |  |
| Income tax benefit | 26.6 |  |  |  |
| Net earnings | 35.4 |  |  |  |
| Net earnings attributable to noncontrolling interests | (0.2) |  |  |  |
| Net earnings attributable to Angi Inc. shareholders | $35.2 |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Nine Months Ended September 30, 2025** | **Nine Months Ended September 30, 2025** | **Nine Months Ended September 30, 2025** | **Nine Months Ended September 30, 2025** |
| | **Operating Income** | **Stock-Based<br>Compensation Expense** | **Depreciation** | **Adjusted<br>EBITDA** |
| Domestic | $40.4 | $7.9 | $32 | $80.2 |
| International | 19.0 | 1.0 | 0.1 | 20.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $59.4 | $8.9 | $32.1 | $100.3 |
| Interest expense | (15.2) |  |  |  |
| Other income, net | 13.7 |  |  |  |
| Earnings before income taxes | 58.0 |  |  |  |
| Income tax provision | (21.4) |  |  |  |
| Net earnings attributable to Angi Inc. shareholders | $36.6 |  |  |  |

---

------

Page 12 of 16

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Nine Months Ended September 30, 2024** | **Nine Months Ended September 30, 2024** | **Nine Months Ended September 30, 2024** | **Nine Months Ended September 30, 2024** |
| | **Operating Income** | **Stock-Based<br>Compensation Expense** | **Depreciation** | **Adjusted<br>EBITDA** |
| Domestic | $7.4 | $27.3 | $63.4 | $98.1 |
| International | 12.3 | 0.8 | 2.3 | 15.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $19.7 | $28.1 | $65.7 | $113.5 |
| Interest expense | (15.1) |  |  |  |
| Other income, net | 15.0 |  |  |  |
| Earnings before income taxes | 19.6 |  |  |  |
| Income tax benefit | 18.5 |  |  |  |
| Net earnings | 38.1 |  |  |  |
| Net earnings attributable to noncontrolling interests | (0.8) |  |  |  |
| Net earnings attributable to Angi Inc. shareholders | $37.3 |  |  |  |

---

**RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW**

---

| | | |
|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| *($ in millions; rounding differences may occur)* | **2025** | **2024** |
| Net cash provided by operating activities | $75.0 | $115.9 |
| Capital expenditures | (40.9) | (37.5) |
| Free Cash Flow | $34.1 | $78.4 |

---

**RECONCILIATION OF TOTAL OPERATING COSTS AND EXPENSES TO SIGNIFICANT EXPENSES**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** | **Three Months Ended September 30, 2025** |
| | **Total Operating Costs and Expenses** | **Stock-based Compensation Expense** | **Depreciation** | **Total Significant Expenses (Excluding Cost of Revenue)** |
| Domestic | $208.2 | $(5.4) | $(11.9) | $190.9 |
| International | 23.2 | (0.6) | – | 22.6 |
| Total | $231.4 | $(6.0) | $(11.9) | $213.5 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** | **Three Months Ended September 30, 2024** |
| | **Total Operating Costs and Expenses** | **Stock-based Compensation Expense** | **Depreciation** | **Total Significant Expenses (Excluding Cost of Revenue)** |
| Domestic | $246.2 | $(9.9) | $(16.8) | $219.5 |
| International | 28.0 | (0.1) | (0.8) | 27.1 |
| Total | $274.2 | $(10.0) | $(17.6) | $246.6 |

---

------

Page 13 of 16

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Nine Months Ended September 30, 2025** | **Nine Months Ended September 30, 2025** | **Nine Months Ended September 30, 2025** | **Nine Months Ended September 30, 2025** |
| | **Total Operating Costs and Expenses** | **Stock-based Compensation Expense** | **Depreciation** | **Total Significant Expenses (Excluding Cost of Revenue)** |
| Domestic | $615.3 | $(7.8) | $(32.0) | $575.5 |
| International | 76.4 | (1.0) | (0.1) | 75.3 |
| Total | $691.7 | $(8.8) | $(32.1) | $650.8 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Nine Months Ended September 30, 2024** | **Nine Months Ended September 30, 2024** | **Nine Months Ended September 30, 2024** | **Nine Months Ended September 30, 2024** |
| | **Total Operating Costs and Expenses** | **Stock-based Compensation Expense** | **Depreciation** | **Total Significant Expenses (Excluding Cost of Revenue)** |
| Domestic | $771.0 | $(27.3) | $(63.4) | $680.3 |
| International | 85.1 | (0.8) | (2.3) | 82.0 |
| Total | $856.1 | $(28.1) | $(65.7) | $762.3 |

---

***ANGI INC. PRINCIPLES OF FINANCIAL REPORTING***

Angi Inc. reports Adjusted EBITDA and Free Cash Flow, which are supplemental measures to U.S. generally accepted accounting principles ("GAAP"). Adjusted EBITDA is considered our primary segment measure of profitability and is one of the metrics, along with Free Cash Flow, by which we evaluate the performance of our businesses and our internal budgets are based and may also impact management compensation. We believe that investors should have access to, and we are obligated to provide, the same set of tools that we use in analyzing our results. These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP but should not be considered a substitute for or superior to GAAP results. Angi Inc. endeavors to compensate for the limitations of the non-GAAP measures presented by providing the comparable GAAP measures with equal or greater prominence and descriptions of the reconciling items, including quantifying such items, to derive the non-GAAP measures. We encourage investors to examine the reconciling adjustments between the GAAP and non-GAAP measures, which are included in this release. Interim results are not necessarily indicative of the results that may be expected for a full year.

***Definitions of Non-GAAP Measures***

<u>Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA)</u> is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of amortization of intangible assets and impairments of goodwill and intangible assets, if applicable. We believe this measure is useful for analysts and investors as this measure allows a more meaningful comparison between our

------

Page 14 of 16

performance and that of our competitors. Adjusted EBITDA has certain limitations because it excludes the impact of these expenses.

<u>Free Cash Flow</u> is defined as net cash provided by operating activities attributable to continuing operations, less capital expenditures. We believe Free Cash Flow is useful to analysts and investors because it represents the cash that our operating businesses generate, before taking into account non-operational cash movements. Free Cash Flow has certain limitations in that it does not represent the total increase or decrease in the cash balance for the period, nor does it represent the residual cash flow for discretionary expenditures. For example, it does not take into account mandatory debt service requirements. Therefore, we think it is important to evaluate Free Cash Flow along with our consolidated statement of cash flows.

***Definitions of Significant Expenses***

<u>Consumer Marketing Expense</u> includes (i) advertising expenditures to promote the brand to consumers with (a) online marketing, including fees paid to search engines and other online marketing platforms, partners who direct traffic to our brands, and app platforms, and (b) offline marketing, which is primarily television, streaming and radio advertising, (ii) compensation expense, excluding stock-based compensation, and other employee-related costs for consumer marketing personnel and (iii) outsourced personnel costs.

<u>Pro Acquisition Expense</u> includes (i) advertising expenditures to promote the brand to Pros with (a) online marketing, including fees paid to search engines and other online marketing platforms, partners who direct traffic to the brands within the Angi Inc. segments, and app platforms, and (b) offline marketing, which is primarily television, streaming and radio advertising and (ii) compensation expense, excluding stock-based compensation, and other employee-related costs for pro acquisition sales and marketing personnel.

<u>Fixed Expense</u> includes (i) compensation expense, excluding stock-based compensation, and other employee-related costs for personnel engaged in (a) the design, development, testing, and enhancement of product offerings and related technology and (b) executive management, finance, legal, tax, marketing and human resources functions, (ii) software license and maintenance costs, (iii) rent expense and facilities costs (including impairments of ROU assets), (iv) fees for professional services and (iv) outsourced personnel costs for personnel engaged in product development.

<u>Variable Expense</u> includes (i) compensation expense, excluding stock-based compensation, and other employee-related costs for personnel engaged in customer service functions, (ii) provision for credit losses, (iii) outsourced personnel costs for personnel engaged in assisting in customer service functions and (iv) service guarantee expense.

**Non-Cash Expenses That Are Excluded from Adjusted EBITDA**

<u>Stock-based compensation expense</u> consists of expense associated with the grants, including unvested grants assumed in acquisitions, of stock appreciation rights ("SARs"), restricted stock units ("RSUs"), stock options and performance-based RSUs and market-based awards. These expenses are not paid in cash, and we view the economic costs of stock-based awards to be the dilution to our share base; we also include the related shares in our fully diluted shares outstanding for GAAP earnings per share using the treasury stock method. Performance-based RSUs and market-based awards are included only to the extent the applicable performance or market condition(s) have been met (assuming the end of the reporting period is the end of the contingency period). The Company is currently settling all stock-based awards on a net basis and remits the required tax-withholding amounts from its current funds.

Please see page <u>[5](#i56aef05156314e8ba874e14bd1e38840_13)</u> for a summary of our dilutive securities as of October 31, 2025, and a description of the calculation methodology.

<u>Depreciation</u> is a non-cash expense relating to our capitalized software, leasehold improvements and equipment and is computed using the straight-line method to allocate the cost of depreciable assets to operations over their estimated useful lives, or, in the case of leasehold improvements, the lease term, if shorter.

<u>Amortization of intangible assets and impairments of goodwill and intangible assets</u> are non-cash expenses related primarily to acquisitions. At the time of an acquisition, the identifiable definite-lived intangible assets of the acquired company, such as professional relationships, technology and trade names, are valued and amortized over their estimated lives. Value is also assigned to acquired indefinite-lived intangible assets, which comprise trade names and trademarks, and goodwill that are not subject to amortization. An impairment is recorded when the carrying value of an intangible

------

Page 15 of 16

asset or goodwill exceeds its fair value. We believe that intangible assets represent costs incurred by the acquired company to build value prior to acquisition and the related amortization and impairments of intangible assets or goodwill, if applicable, are not ongoing costs of doing business.

***Metric Definitions***

In Q1 2025, the Company introduced the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• new metrics: Proprietary Channels, Network Channels, Acquired Pros, and Average Monthly Active Pros

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• revised language used to describe Service Requests and Leads (formerly known as Monetized Transactions). Neither the data nor definitions of these metrics changed; only the terminology was updated in an effort to make the concepts more intuitive.

More detailed explanations of Proprietary Channels, Network Channels, Acquired Pros, and Average Monthly Active Pros as well as Pro cohorts are available in the "Angi Change to Key Metrics Q1 2025 Primer" document available at https://ir.angi.com/quarterly-earnings.

**Domestic Revenue** – primarily comprised of revenue generated within the Domestic segment, including lead revenue for consumer matches, revenue from Pros under contract for advertising, membership subscription revenue from Pros and consumers and revenue from pre-priced offerings by which the consumer requests services through a Company platform and the Company connects them with a Pro to perform the service.

**International Revenue** – comprised of revenue generated within the International segment (consisting of businesses in Europe and Canada), including lead revenue for consumer matches and membership subscription revenue from Pros.

**Service Requests** – requests for connections with Pros in the period, which include pre-priced offerings and indications of interest expressed on a Pro profile.

**Leads (formerly known as "Monetized Transactions")** – connections between consumers and Pros resulting from a Service Request in the period, including the completion of a job related to a pre-priced offering; a single Service Request can result in multiple Leads.

**Proprietary Channels** – a source of Service Requests in which consumers go through an Angi proprietary user experience and retail partner experiences.

**Network Channels** – a source of Service Requests in which consumers are presented with Angi Pros through a third party website experience.

**Acquired Pros** – new Pros onboarded onto the Angi platform and eligible to receive Leads in the period.

**Average Monthly Active Pros** – the average number of Pros per month that (i) received Leads, (ii) were presented on a Service Request where they agreed to receive a Lead if selected, (iii) requested to be connected to a consumer on a Service Request, or (iv) accepted an offer to complete a pre-priced Service Request.

**Revenue per Lead** – Domestic Revenue (unless noted otherwise) divided by Leads.

**Average Monthly Churn** – (Active Pros in the current month that were acquired in prior months divided by Active Pros in the prior month) - 1

------

Page 16 of 16

***OTHER INFORMATION***

**Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995**

This press release and our conference call, which will be held at 8:30 a.m. Eastern Time on Wednesday, November 5, 2025, may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as "may," "will," "should," "could," "intend," "target," "project," "continue," "anticipates," "estimates," "expects," "plans," and "believes," and "potential" among others, generally identify forward-looking statements. These forward-looking statements include, among others, statements relating to: the future financial performance of the Company and its businesses, the Company's plans and expectations concerning share repurchases, business prospects and strategy, the timing, development and expected impact of strategic and product initiatives, future capital allocation strategy, the anticipated benefits of being an independent public company, anticipated trends and prospects in the home services industry and other similar matters. Actual results could differ materially from those contained in these forward-looking statements for a variety of reasons, including, among others: (i) the continued migration of the home services market online, (ii) our ability to market our various products and services in a successful and cost-effective manner, (iii) the continued prominence of the display of links to websites offering our products and services in search results, (iv) our ability to expand our pre-priced offerings, while balancing the overall mix of service requests and directory services on Angi Inc. platforms, (v) our ability to establish and maintain relationships with quality and trustworthy Pros, (vi) our continued ability to develop and monetize versions of our products and services for mobile and other digital devices, (vii) our ability to access, share, use and protect the personal data of consumers, (viii) our continued ability to communicate with consumers and Pros via e-mail (or other sufficient means), (ix) our ability to continue to generate leads for Pros given changing requirements applicable to certain communications with consumers, (x) any challenge to the contractor classification or employment status of our Pros, (xi) our ability to compete, (xii) unstable market and economic conditions (particularly those that adversely impact advertising spending levels and consumer confidence and spending behavior), either generally and/or in any of the markets in which our businesses operate, as well as geopolitical conflicts, (xiii) our ability to maintain and/or enhance our various brands, (xiv) our ability to protect our systems, technology and infrastructure from cyberattacks (including cyberattacks experienced by third parties who whom we do business), (xv) the occurrence of data security breaches and/or fraud, (xvi) increased liabilities and costs related to the processing, storage, use and disclosure of personal and confidential user information, (xvii) the integrity, quality, efficiency and scalability of our systems, technology and infrastructures (and those of third parties with whom we do business), (xviii) changes in key personnel, (xix) various risks related to our relationship with IAC following the spin-off, (xx) our ability to generate sufficient cash to service our indebtedness and (xxi) certain risks related to ownership of our Class A common stock. Certain of these and other risks and uncertainties are discussed in Angi Inc.'s filings with the Securities and Exchange Commission (the "SEC"), including the most recent Annual Report on Form 10-K filed with the SEC on February 28, 2025, and subsequent reports that Angi Inc. files with the SEC. Other unknown or unpredictable factors that could also adversely affect Angi Inc.'s business, financial condition and results of operations may arise from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those expressed in any forward-looking statements we may make. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

**<u>About Angi Inc.</u>**

Angi (NASDAQ: ANGI) helps homeowners get home projects done well and helps home service professionals grow their business. We started in 1995 with a simple goal to help people find skilled local home pros from plumbers and electricians to remodelers and landscapers to get their jobs done well. Now 30 years later, we've evolved to help people with everything from finding, booking and hiring a skilled pro, to researching costs and finding project inspiration. Homeowners have turned to Angi, and our vast network of skilled home pros, for help with more than 300 million projects.

**<u>Contact Us</u>** 

**Angi Inc. Investor Relations**

(720) 282-1958

ir@angi.com

**Angi Inc. Corporate Communications** 

(303) 963-8352

**Angi Inc.**

3601 Walnut Street, Denver, CO 80205 (303) 963-7200 http://www.angi.com

<br>