Angi Inc. Reports Q2 2026 Earnings: Challenges and Opportunities

As of June 30, 2026, Angi reported approximately 106,000 Average Monthly Active Professionals (Pros) in the United States, who facilitated around 15 million projects over the past year. The company operates in various international markets, including Europe, Canada, and the UK, alongside its strong presence in the U.S.

In March 2025, Angi completed a spin-off from its former parent company, IAC Inc., distributing shares of its common stock to IAC shareholders. This strategic move positioned Angi for greater operational independence and growth.

For the three months ending June 30, 2026, Angi's U.S. revenue plummeted by $30.2 million, or 12%, primarily due to macroeconomic factors that led to reduced spending by Pros. A significant contributor to this downturn was a 10% decline in Proprietary Revenue and a staggering 34% drop in Network Revenue, which followed a shift in consumer traffic due to changes implemented in January 2025.

In contrast, the company's International Revenue experienced a slight increase of $2.2 million, or 3%, bolstered by favorable foreign exchange rates for the Euro and British Pound against the U.S. Dollar.

Angi's cost of revenue in the U.S. decreased by $2.2 million, or 18%, reflecting efforts to streamline operations. This reduction was primarily attributed to lower sales tax, credit card processing fees, and hosting fees. However, the international cost of revenue saw a dramatic increase of $0.8 million, or 96%, largely due to higher hosting expenses.

Gross profit for Q2 2026 fell by $28.7 million, or 11%, reflecting the revenue decline. The overall operating expenses, however, presented a mixed picture.

The adjusted EBITDA for the U.S. segment decreased by $6.1 million, or 22%, while the international segment saw a modest increase of $1.3 million, or 25%. This disparity highlights the challenges faced domestically compared to growth opportunities abroad.

Additionally, Angi recorded a substantial goodwill impairment charge of $225.6 million, indicating a reassessment of the carrying value of its U.S. reporting unit. An impairment charge of $9.6 million was also noted for indefinite-lived trade names.

The earnings report revealed a net income loss of $230.6 million, which starkly contrasts with a net income of $10.89 million in Q2 2025. The deteriorating performance underscores the impact of high operational costs and reduced revenues.

As of June 30, 2026, Angi's total assets stood at $1.32 billion, a decline from $1.78 billion a year prior. This reduction was primarily due to a decrease in both current and non-current assets, compounded by rising liabilities, which totaled $613.9 million.

The company reported a net change in cash of -$55.87 million, highlighting challenges in cash management amidst operational adjustments. The net cash from operating activities was $27.24 million, but this was overshadowed by significant outflows in financing and investing activities.

Angi Inc. has faced considerable headwinds in Q2 2026, primarily driven by macroeconomic pressures affecting consumer spending and operational challenges. Despite these adversities, the company continues to adapt its strategies and explore growth opportunities in both domestic and international markets.

As Angi moves forward, maintaining a keen focus on cost management and operational efficiency will be critical to navigating the current landscape. Stakeholders remain hopeful that the company's efforts to streamline operations and enhance customer engagement will yield positive results in the upcoming quarters.