XML 26 R13.htm IDEA: XBRL DOCUMENT v3.24.2.u1
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Our reportable segments currently consist of Ads and Leads, Services, and International. Our CODM regularly reviews certain financial information by operating segment to determine allocation of resources and assess its performance. Segment profitability is determined by and presented on an Adjusted EBITDA basis consistent with the CODM’s view of profitability of its businesses, which excludes certain expenses that are required in accordance with GAAP.
The following table presents revenue by reportable segment:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(In thousands)
Revenue:
Domestic
Ads and Leads$257,312 $292,487 $506,897 $585,993 
Services24,595 29,867 45,046 61,926 
Total Domestic281,907 322,354 551,943 647,919 
International33,227 29,233 68,581 59,165 
Total$315,134 $351,587 $620,524 $707,084 
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,
2024202320242023
(In thousands)
Domestic:
Ads and Leads:
Consumer connection revenue$167,624 $209,013 $328,155 $421,948 
Advertising revenue78,309 70,047 155,446 137,228 
Membership subscription revenue11,261 13,231 23,039 26,430 
Other revenue118 196 257 387 
Total Ads and Leads revenue257,312 292,487 506,897 585,993 
Services revenue24,595 29,867 45,046 61,926 
Total Domestic281,907 322,354 551,943 647,919 
International:
Consumer connection revenue27,018 23,371 56,687 48,116 
Service professional membership subscription revenue5,947 5,753 11,329 10,811 
Advertising and other revenue262 109 565 238 
Total International33,227 29,233 68,581 59,165 
Total revenue$315,134 $351,587 $620,524 $707,084 
Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented below:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(In thousands)
Revenue:
United States$281,818 $322,354 $551,690 $647,919 
All other countries33,316 29,233 68,834 59,165 
Total$315,134 $351,587 $620,524 $707,084 
June 30, 2024December 31, 2023
(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States$116,051 $145,710 
All other countries8,218 9,788 
Total$124,269 $155,498 
The following tables present operating income (loss) and Adjusted EBITDA by reportable segment:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(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)
International4,060 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,
2024202320242023
(In thousands)
Adjusted EBITDA(a):
Ads and Leads$48,977 $28,155 $90,198 $68,006 
Services1,975 1,700 1,985 (468)
Corporate(13,904)(13,109)(25,825)(25,463)
International5,135 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.
We consider operating income (loss) to be the financial measure calculated and presented in accordance with GAAP that is most directly comparable to our segment reporting performance measure, Adjusted EBITDA. 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)
International4,060 301 774 5,135 
Total9,187 $8,672 $24,324 $42,183 
Interest expense(5,041)
Other income, net4,570 
Earnings before income taxes8,716 
Income tax provision(4,628)
Net earnings4,088 
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		DepreciationAmortization
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)
International1,571 339 927 — 2,837 
Total(15,381)$10,297 $22,004 $2,663 $19,583 
Interest expense(5,034)
Other income, net5,184 
Loss from continuing operations before income taxes(15,231)
Income tax provision(360)
Net loss from continuing operations(15,591)
Earnings from discontinued operations, net of tax1,112 
Net loss(14,479)
Net earnings attributable to noncontrolling interests(220)
Net loss attributable to Angi Inc. shareholders$(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)
International9,573 656 1,558 11,787 
Total11,903 $18,069 $48,173 $78,145 
Interest expense(10,079)
Other income, net9,054 
Earnings before income taxes10,878 
Income tax provision(8,107)
Net earnings2,771 
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		DepreciationAmortization
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)
International4,601 766 1,824 — 7,191 
Total(26,262)$23,009 $47,194 $5,325 $49,266 
Interest expense(10,063)
Other income, net8,991 
Loss from continuing operations before income taxes(27,334)
Income tax provision(2,244)
Net loss from continuing operations(29,578)
Earnings from discontinued operations, net of tax99 
Net loss(29,479)
Net earnings attributable to noncontrolling interests(545)
Net loss attributable to Angi Inc. shareholders$(30,024)