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Dec 31, 2024
ANGI Homeservices Q4 2024 Earnings Report
Estimated Revenue:$261M
-17.1% YoY
Estimated EPS:-$0.01
249.6% YoY
Key Takeaways
Angi Inc. reported a revenue of $267.9 million for Q4 2024, an 11% decrease year-over-year. Operating income was $2.2 million, down 72%, and the company reported a net loss of $1.3 million. Adjusted EBITDA decreased 23% to $31.8 million. The company also announced that IAC's Board of Directors approved a plan to spin off IAC's full stake in Angi Inc. to IAC shareholders.
Revenue decreased 11% year-over-year to $267.9 million, primarily due to declines in Ads and Leads and Services revenue.
Operating income fell 72% to $2.2 million, and Adjusted EBITDA decreased 23% to $31.8 million.
Net loss improved by 77% to $1.3 million, and diluted loss per share was ($0.00).
The IAC Board of Directors approved a plan to spin off IAC's full stake in Angi Inc. to IAC shareholders, expected to close in the first half of 2025.
Revenue by Geographic Location
Forward Guidance
For Q1 2025, Angi Inc. expects breakeven operating income and over $20 million of Adjusted EBITDA. For the full year 2025, Angi Inc. expects $25-$60 million of operating income and $135-$150 million of Adjusted EBITDA.
Positive Outlook
- Expected breakeven operating income for Q1 2025.
- Anticipated Adjusted EBITDA over $20 million for Q1 2025.
- Full year 2025 operating income expected to be between $25 million and $60 million.
- Full year 2025 Adjusted EBITDA expected to be between $135 million and $150 million.
- The spin-off of IAC's full stake in Angi Inc. is expected to close in the first half of 2025.
Challenges Ahead
- Operating income for Q1 2025 is expected to be breakeven, indicating no significant profit growth in the short term.
- The range for full year 2025 operating income ($25-$60 million) shows potential variability.
- The range for full year 2025 Adjusted EBITDA ($135-$150 million) also indicates potential variability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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