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Here are 1-2 brief analogies for Angi:

1. Uber for home services.

2. Amazon for hiring home service professionals.

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• Angi Leads: A marketplace service connecting homeowners directly with local service professionals for a wide range of home improvement, repair, and maintenance projects, where consumers receive quotes and select providers.
• Angi Services: An on-demand service providing pre-priced bookings for common home tasks like cleaning, handyman work, and furniture assembly, with Angi managing the scheduling and payment.
• Reviews and Ratings Platform: A comprehensive database of consumer reviews and ratings for home service professionals, enabling users to make informed hiring decisions.

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Angi (symbol: ANGI) operates a marketplace business model that connects consumers with service professionals for home-related needs, ranging from repairs and maintenance to improvements.

Angi's primary paying customers are the service professionals (such as plumbers, electricians, landscapers, cleaners, handymen, contractors, etc.) who pay Angi for leads, advertising, and subscription services to connect with consumers looking for their services.

Due to the highly fragmented nature of the local services industry, Angi's customer base consists of millions of individual service providers and small businesses. Therefore, Angi does not have a handful of identifiable "major customer companies" that are large corporations or publicly traded entities. Its revenue is derived from this vast network of local service professionals rather than from specific major corporate clients.

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• Alphabet Inc. (GOOGL)
• Meta Platforms Inc. (META)
• Amazon.com, Inc. (AMZN)
• Visa Inc. (V)
• Mastercard Incorporated (MA)

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Jeff Kip, Chief Executive Officer

Jeffrey W. Kip has served as the Chief Executive Officer of Angi since April 2024. Prior to this role, he was President of Angi from November 2023 to April 2024, overseeing finance, sales, marketing, and human resources. Mr. Kip also served as Chief Executive Officer of HomeAdvisor International since April 2016. He was the Chief Financial Officer of IAC from March 2012 to April 2016. Before IAC, he was Executive Vice President, Chief Financial Officer of Panera Bread Company from May 2006 to March 2012, and held various finance and corporate development roles at Panera Bread since May 2003. Earlier in his career, he worked at investment banking firms UBS and Goldman Sachs.

Andrew Russakoff, Chief Financial Officer

Andrew Russakoff is the Chief Financial Officer for Angi, where he oversees the company's finance and accounting strategy and operations. He previously served as Vice President of Financial Planning at IAC, where he was responsible for financial analysis, oversight of IAC's portfolio businesses (including Angi), and investor relations. Before joining IAC, Mr. Russakoff held finance, strategy, and business development leadership roles at GameChanger Media and Pellucid Analytics. He also worked as an investment banker at Credit Suisse and in the power and renewable energy industry at NRG Energy.

Angie Hicks, Chief Customer Officer

Angela R. Hicks Bowman, who goes by Angie Hicks, is the Chief Customer Officer of Angi. She co-founded Angie's List in 1995. Ms. Hicks served as Chief Marketing Officer of Angie's List from May 2000 and was on its board of directors from March 2013 until its acquisition by Angi.

Bailey Carson, Chief Operating Officer

Bailey Carson is the Chief Operating Officer of Angi, overseeing the company's sales, customer care, and operations organizations. She previously served as the Chief Customer Experience Officer and began her career with Angi as General Manager of Services. Prior to her roles at Angi, Ms. Carson was the SVP of Growth at Handy, which was later acquired by Angi. She also held operating, product, and finance roles in startups and started her career in finance at Lehman Brothers and Irving Place Capital.

Glenn Orchard, Chief Growth Officer

Glenn Orchard is the Chief Growth Officer of Angi, where he oversees growth and marketing strategy and execution. Before this role, he was Senior Vice President of Digital and Growth at Angi. Mr. Orchard began his career at Angi as Chief Marketing Officer for the MyBuilder business in the UK and then for the entire Angi international business. Prior to Angi, he held key roles in marketing, commercial, and e-commerce at Dixons Retail and PhotoBox Group.

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The public company Angi (symbol: ANGI) faces several significant business risks, primarily centered on declining financial performance, intense market competition, and ongoing reputational challenges.

The most significant risk to Angi's business is its **declining revenue growth and broader financial stability concerns**. The company has experienced a notable downturn in revenue in recent years, with a 1-year revenue growth rate of -14% and a 3-year rate of -10.1%. Furthermore, Angi projected a revenue decrease of 8% to 11% for the third quarter. These short-term financial headwinds, stemming from strategic transitions, have led to reduced volume and increased marketing expenditures, subsequently pressuring profitability. The company's Altman Z-Score of 1.35 also places it within the distress zone, indicating a potential risk of bankruptcy in the near future, although other analyses suggest a lower probability of distress within 24 months.

A second key risk is the **intense competition and the associated loss of market share**. Angi operates in a highly competitive interactive media industry and is grappling with aggressive rivals such as Thumbtack, which has been growing its app monthly active users (MAUs) at Angi's expense. This intense competitive landscape, coupled with declining website traffic and app usage, signifies a loss of user engagement for Angi. Additionally, emerging technologies like chatbots and AI-driven interfaces pose a potential disruption, which could necessitate a shift in Angi's marketing channels and potentially lead to higher customer acquisition costs.

Finally, Angi faces **reputational risks and scrutiny over its business practices**. Historically, and continuing to some extent, Angi (including its predecessor HomeAdvisor) has garnered negative feedback concerning inconsistent lead quality for contractors, as well as accusations of unethical business practices. Reports have also highlighted past issues with lawsuits and fines. For a platform business reliant on trust and positive engagement from both homeowners and service professionals, a tarnished reputation and negative reviews can significantly damage a contractor's online standing and overall platform adoption.

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The increasing dominance and expansion of Google's Local Services Ads (LSA) represents a clear emerging threat to Angi. Google LSA directly competes with Angi by leveraging Google's unparalleled search engine platform to connect consumers with local service professionals. By integrating "Google Guaranteed" services directly into search results, often prominently displayed above other listings, Google is effectively becoming the primary gateway for many consumers seeking home services. This shift allows consumers to find and book services without needing to use a dedicated marketplace like Angi, while service professionals are increasingly allocating marketing budgets to LSA due to its visibility and trust factor. This disintermediation directly challenges Angi's core business model of connecting homeowners and service providers.

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The addressable market for Angi's main products and services, which encompass home services, is estimated to be $657 billion in the U.S. for 2022. This figure is detailed across three primary sectors:

• Home improvement market: $475 billion
• Home maintenance market: $105.9 billion
• Home emergency repair market: $76.4 billion

Previously, in 2021, the total addressable market for home services in the U.S. was estimated at $595 billion. This market was then segmented as follows: home improvement at $376.9 billion, home maintenance at $157.7 billion, and home emergency repair at $60.6 billion.

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Here are 3-5 expected drivers of future revenue growth for Angi (symbol: ANGI) over the next 2-3 years:

1. Growth in Proprietary Channels: Angi is prioritizing and experiencing significant growth in its proprietary service requests and leads, with proprietary service request growth accelerating to positive 11% and proprietary lead growth at 16% in Q3 2025. This focus on proprietary traffic, coupled with modest revenue per lead growth (11% in Q3 2025), is considered a key driver for returning to overall revenue growth in 2026.
2. Improved Customer Experience and Pro Retention: Strategic investments in enhancing the customer experience, including core product functionality, have led to notable improvements in key metrics. The homeowner Net Promoter Score (NPS) has improved significantly, and pro retention has risen materially each quarter. Higher estimated hire rates (up double digits) and win rates (up nearly 30%) also contribute to a better customer experience, which is expected to drive long-term business growth.
3. Return to Overall Revenue Growth: After experiencing revenue declines in 2025, Angi explicitly anticipates a return to revenue growth in 2026, both for the first quarter and the full year. This rebound is predicated on the strength of proprietary growth and the stabilization of network channel traffic.
4. Increased Pro Capacity and Acquisition: Angi plans to expand its professional network by growing pro capacity. This will be fueled by strong sales performance and the scaling up of online self-enrollment for pros, with a target to double nominal pro acquisition by mid-2026. The company also expects network capacity growth in 2026 and a return to nominal network growth by 2027.
5. Transition to an AI-First, Single Global Platform: The company is investing in transforming its technological infrastructure by developing a modern, AI-first platform. This initiative, aiming for completion of a single global platform by Q1 2027, is expected to materially accelerate software development, improve customer experience, and enhance business efficiency.

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Share Repurchases

• Angi repurchased 6 million shares for $91 million in fiscal year 2025 as of August 1, 2025.
• In Q3 2025, the company repurchased an additional 1.3 million shares for $20.1 million, completing a prior authorization.
• As of September 17, 2025, Angi's Board of Directors approved a new share repurchase authorization of approximately 3.2 million shares.
• For the full year 2024, purchases of treasury stock amounted to $102.7 million.

Share Issuance

• Angi completed a 1-for-10 reverse stock split in March 2025.
• As of June 30, 2025, Angi Inc. had 45.1 million shares of Class A common stock outstanding.
• A stock-based compensation expense reversal of approximately $10 million occurred in Q1 2025.

Outbound Investments

• On July 1, 2021, Angi Inc. acquired Total Home Properties, Inc. for $25.4 million in cash, funded by Senior Notes issued in August 2020.

Capital Expenditures

• Capital expenditures for Q2 2025 were $24.8 million.
• For fiscal year 2024, capital expenditures were $40.9 million.
• Angi's 2025 capital expenditures are expected to be higher than 2024's $50.5 million by approximately 20%, with a primary focus on capitalized software and an "AI first" approach, including consolidating their technology platform.