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SEGMENT INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | The following table presents revenue by reportable segment:
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |  |  |
| (In thousands)
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  |  |  |  |  |  |  |  |  |  |  |  |
Ads and Leads | $ | 257,312 |  |  | $ | 292,487 |  |  | $ | 506,897 |  |  | $ | 585,993 |  |  |  |  |  |  |
Services | 24,595 |  |  | 29,867 |  |  | 45,046 |  |  | 61,926 |  |  |  |  |  |  |
Total Domestic | 281,907 |  |  | 322,354 |  |  | 551,943 |  |  | 647,919 |  |  |  |  |  |  |
International | 33,227 |  |  | 29,233 |  |  | 68,581 |  |  | 59,165 |  |  |  |  |  |  |
Total | $ | 315,134 |  |  | $ | 351,587 |  |  | $ | 620,524 |  |  | $ | 707,084 |  |  |  |  |  |  |
The following tables present operating income (loss) and Adjusted EBITDA by reportable segment:
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |  |  |
| (In thousands)
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |
Ads and Leads | $ | 24,806 |  |  | $ | 4,791 |  |  | $ | 44,627 |  |  | $ | 18,271 |  |  |  |  |  |  |
Services | (4,488) |  |  | (5,175) |  |  | (11,989) |  |  | (17,627) |  |  |  |  |  |  |
Corporate | (15,191) |  |  | (16,568) |  |  | (30,308) |  |  | (31,507) |  |  |  |  |  |  |
International | 4,060 |  |  | 1,571 |  |  | 9,573 |  |  | 4,601 |  |  |  |  |  |  |
Total | $ | 9,187 |  |  | $ | (15,381) |  |  | $ | 11,903 |  |  | $ | (26,262) |  |  |  |  |  |  |
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |  |  |
| (In thousands)
Adjusted EBITDA(a): |  |  |  |  |  |  |  |  |  |  |  |  |
Ads and Leads | $ | 48,977 |  |  | $ | 28,155 |  |  | $ | 90,198 |  |  | $ | 68,006 |  |  |  |  |  |  |
Services | 1,975 |  |  | 1,700 |  |  | 1,985 |  |  | (468) |  |  |  |  |  |  |
Corporate | (13,904) |  |  | (13,109) |  |  | (25,825) |  |  | (25,463) |  |  |  |  |  |  |
International | 5,135 |  |  | 2,837 |  |  | 11,787 |  |  | 7,191 |  |  |  |  |  |  |
Total | $ | 42,183 |  |  | $ | 19,583 |  |  | $ | 78,145 |  |  | $ | 49,266 |  |  |  |  |  |  |
(a) The Company’s primary financial measure and GAAP segment measure is Adjusted EBITDA, which is defined as operating income (loss) 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.
Schedule of Segmented Revenue Disaggregated by Service | The following table presents the revenue of the Company’s segments disaggregated by type of service:
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |  |  |
| (In thousands)
Domestic: |  |  |  |  |  |  |  |  |  |  |  |  |
Ads and Leads: |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer connection revenue | $ | 167,624 |  |  | $ | 209,013 |  |  | $ | 328,155 |  |  | $ | 421,948 |  |  |  |  |  |  |
Advertising revenue | 78,309 |  |  | 70,047 |  |  | 155,446 |  |  | 137,228 |  |  |  |  |  |  |
Membership subscription revenue | 11,261 |  |  | 13,231 |  |  | 23,039 |  |  | 26,430 |  |  |  |  |  |  |
Other revenue | 118 |  |  | 196 |  |  | 257 |  |  | 387 |  |  |  |  |  |  |
Total Ads and Leads revenue | 257,312 |  |  | 292,487 |  |  | 506,897 |  |  | 585,993 |  |  |  |  |  |  |
Services revenue | 24,595 |  |  | 29,867 |  |  | 45,046 |  |  | 61,926 |  |  |  |  |  |  |
Total Domestic | 281,907 |  |  | 322,354 |  |  | 551,943 |  |  | 647,919 |  |  |  |  |  |  |
International: |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer connection revenue | 27,018 |  |  | 23,371 |  |  | 56,687 |  |  | 48,116 |  |  |  |  |  |  |
Service professional membership subscription revenue | 5,947 |  |  | 5,753 |  |  | 11,329 |  |  | 10,811 |  |  |  |  |  |  |
Advertising and other revenue | 262 |  |  | 109 |  |  | 565 |  |  | 238 |  |  |  |  |  |  |
Total International | 33,227 |  |  | 29,233 |  |  | 68,581 |  |  | 59,165 |  |  |  |  |  |  |
Total revenue | $ | 315,134 |  |  | $ | 351,587 |  |  | $ | 620,524 |  |  | $ | 707,084 |  |  |  |  |  |  |
Schedule of Revenue by Geographic Areas | Geographic information about revenue and long-lived assets is presented below:
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |  |  |
| (In thousands)
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |
United States | $ | 281,818 |  |  | $ | 322,354 |  |  | $ | 551,690 |  |  | $ | 647,919 |  |  |  |  |  |  |
All other countries | 33,316 |  |  | 29,233 |  |  | 68,834 |  |  | 59,165 |  |  |  |  |  |  |
Total | $ | 315,134 |  |  | $ | 351,587 |  |  | $ | 620,524 |  |  | $ | 707,084 |  |  |  |  |  |  |
Schedule of Long-lived Assets by Geographic Areas |
| June 30, 2024 |  | December 31, 2023
| (In thousands)
Long-lived assets (excluding goodwill and intangible assets): |  |  |
United States | $ | 116,051 |  |  | $ | 145,710 |
All other countries | 8,218 |  |  | 9,788 |
Total | $ | 124,269 |  |  | $ | 155,498 |
Schedule of Reconciliation of Adjusted EBITDA to Operating Income (Loss) | The following tables reconcile operating income (loss) for the Company’s reportable segments and net earnings (loss) attributable to Angi Inc. shareholders to Adjusted EBITDA:
| Three Months Ended June 30, 2024
| Operating Income (Loss) |  | Stock-Based Compensation Expense |  | Depreciation |  |  |  | Adjusted EBITDA(a)
| (In thousands)
Ads and Leads | $ | 24,806 |  |  | $ | 5,996 |  |  | $ | 18,175 |  |  |  |  | $ | 48,977 |
Services | (4,488) |  |  | 1,088 |  |  | 5,375 |  |  |  |  | 1,975 |
Corporate | (15,191) |  |  | 1,287 |  |  | — |  |  |  |  | (13,904) |
International | 4,060 |  |  | 301 |  |  | 774 |  |  |  |  | 5,135 |
Total | 9,187 |  |  | $ | 8,672 |  |  | $ | 24,324 |  |  |  |  | $ | 42,183 |
Interest expense | (5,041) |  |  |  |  |  |  |  |  |
Other income, net | 4,570 |  |  |  |  |  |  |  |  |
Earnings before income taxes | 8,716 |  |  |  |  |  |  |  |  |
Income tax provision | (4,628) |  |  |  |  |  |  |  |  |
Net earnings | 4,088 |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (328) |  |  |  |  |  |  |  |  |
Net earnings attributable to Angi Inc. shareholders | $ | 3,760 |  |  |  |  |  |  |  |  |
| Three Months Ended June 30, 2023
| Operating Income (Loss) |  | Stock-Based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Adjusted EBITDA(a)
| (In thousands)
Ads and Leads | $ | 4,791 |  |  | $ | 5,307 |  |  | $ | 15,394 |  |  | $ | 2,663 |  |  | $ | 28,155 |
Services | (5,175) |  |  | 1,192 |  |  | 5,683 |  |  | — |  |  | 1,700 |
Corporate | (16,568) |  |  | 3,459 |  |  | — |  |  | — |  |  | (13,109) |
International | 1,571 |  |  | 339 |  |  | 927 |  |  | — |  |  | 2,837 |
Total | (15,381) |  |  | $ | 10,297 |  |  | $ | 22,004 |  |  | $ | 2,663 |  |  | $ | 19,583 |
Interest expense | (5,034) |  |  |  |  |  |  |  |  |
Other income, net | 5,184 |  |  |  |  |  |  |  |  |
Loss from continuing operations before income taxes | (15,231) |  |  |  |  |  |  |  |  |
Income tax provision | (360) |  |  |  |  |  |  |  |  |
Net loss from continuing operations | (15,591) |  |  |  |  |  |  |  |  |
Earnings from discontinued operations, net of tax | 1,112 |  |  |  |  |  |  |  |  |
Net loss | (14,479) |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (220) |  |  |  |  |  |  |  |  |
Net loss attributable to Angi Inc. shareholders | $ | (14,699) |  |  |  |  |  |  |  |  |
| Six Months Ended June 30, 2024
| Operating Income (Loss) |  | Stock-Based Compensation Expense |  | Depreciation |  |  |  |  |  | Adjusted EBITDA(a)
| (In thousands)
Ads and Leads | $ | 44,627 |  |  | $ | 10,461 |  |  | $ | 35,110 |  |  |  |  |  |  | $ | 90,198 |
Services | (11,989) |  |  | 2,469 |  |  | 11,505 |  |  |  |  |  |  | 1,985 |
Corporate | (30,308) |  |  | 4,483 |  |  | — |  |  |  |  |  |  | (25,825) |
International | 9,573 |  |  | 656 |  |  | 1,558 |  |  |  |  |  |  | 11,787 |
Total | 11,903 |  |  | $ | 18,069 |  |  | $ | 48,173 |  |  |  |  |  |  | $ | 78,145 |
Interest expense | (10,079) |  |  |  |  |  |  |  |  |  |  |
Other income, net | 9,054 |  |  |  |  |  |  |  |  |  |  |
Earnings before income taxes | 10,878 |  |  |  |  |  |  |  |  |  |  |
Income tax provision | (8,107) |  |  |  |  |  |  |  |  |  |  |
Net earnings | 2,771 |  |  |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (642) |  |  |  |  |  |  |  |  |  |  |
Net earnings attributable to Angi Inc. shareholders | $ | 2,129 |  |  |  |  |  |  |  |  |  |  |
| Six Months Ended June 30, 2023
| Operating Income (Loss) |  | Stock-Based Compensation Expense |  | Depreciation |  |  |  | Amortization of Intangibles |  | Adjusted EBITDA(a)
| (In thousands)
Ads and Leads | $ | 18,271 |  |  | $ | 10,798 |  |  | $ | 33,612 |  |  |  |  | $ | 5,325 |  |  | $ | 68,006 |
Services | (17,627) |  |  | 5,401 |  |  | 11,758 |  |  |  |  | — |  |  | (468) |
Corporate | (31,507) |  |  | 6,044 |  |  | — |  |  |  |  | — |  |  | (25,463) |
International | 4,601 |  |  | 766 |  |  | 1,824 |  |  |  |  | — |  |  | 7,191 |
Total | (26,262) |  |  | $ | 23,009 |  |  | $ | 47,194 |  |  |  |  | $ | 5,325 |  |  | $ | 49,266 |
Interest expense | (10,063) |  |  |  |  |  |  |  |  |  |  |
Other income, net | 8,991 |  |  |  |  |  |  |  |  |  |  |
Loss from continuing operations before income taxes | (27,334) |  |  |  |  |  |  |  |  |  |  |
Income tax provision | (2,244) |  |  |  |  |  |  |  |  |  |  |
Net loss from continuing operations | (29,578) |  |  |  |  |  |  |  |  |  |  |
Earnings from discontinued operations, net of tax | 99 |  |  |  |  |  |  |  |  |  |  |
Net loss | (29,479) |  |  |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (545) |  |  |  |  |  |  |  |  |  |  |
Net loss attributable to Angi Inc. shareholders | $ | (30,024) |  |  |  |  |  |  |  |  |  |  |

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