Angi Inc. Reports Mixed Results in 2025 Annual Report

Angi's U.S. revenue experienced a notable decrease of 14% in 2025, dropping to $903.9 million from $1.05 billion in 2024. This downturn was largely attributed to a staggering 72% decline in Network revenue following the implementation of homeowner choice in January 2025. However, the company saw a 17% increase in Proprietary revenue, demonstrating its effectiveness in paid marketing strategies.

International revenue also faced challenges, declining by $2.5 million, or 2%, to $126.6 million. This reduction was primarily due to a strategic shift in the Canadian business model, which transitioned to a self-serve platform to align with European operations, ultimately impacting profitability.

In a significant restructuring of its reporting segments, Angi revised its segmentation into U.S. and International. The U.S. segment, previously labeled as Domestic, reported revenues of $904.0 million, while the International segment generated $126.4 million.

The company's revenue breakdown by products and services showed considerable fluctuations. Advertising revenue plummeted by 31.18% to $214.9 million, while lead revenue remained relatively stable, decreasing only slightly by 0.27%. Membership subscription revenue saw the most significant drop, falling by 53.36% to $30.21 million.

Angi's cost of revenue decreased by $10.2 million, or 19%, primarily due to lower payments to third-party service providers and reduced credit card processing fees. Despite this reduction, gross profit fell by $144.4 million, or 13%, reflecting the overall revenue decline.

Operating income showed resilience, increasing to $65.4 million, driven by strategic cost reductions across various departments. U.S. Adjusted EBITDA fell by $16.6 million to $112.8 million, while International Adjusted EBITDA surged by 71% to $27.3 million, indicating a successful effort in optimizing international operations.

As of December 31, 2025, Angi's total assets stood at $1.68 billion, with total liabilities of $721.6 million. The company maintained a solid financial position, with $500 million in senior notes due in 2028 and a newly established $175 million senior secured revolving credit facility, which had no outstanding borrowings at year-end.

In a move to return value to shareholders, Angi repurchased 10.5 million shares of its Class A Common Stock at an average price of $14.15 per share throughout 2025. This initiative was fully authorized by the board of directors and demonstrates the company’s commitment to enhancing shareholder value.

Angi Inc. faced a tumultuous 2025, marked by revenue declines and strategic restructuring efforts. Despite these challenges, the company has made significant strides in optimizing its operations and enhancing profitability across its segments. Looking forward, Angi remains focused on adapting its business model to meet consumer demands and improve financial performance, positioning itself for potential growth in the coming years.