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SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | The following table presents revenue by reportable segment:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |  |
| (In thousands)
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 233,247 |  |  | $ | 264,933 |  |  | $ | 691,333 |  |  | $ | 816,876 |  |  |  |  |  |  |
International | 32,386 |  |  | 31,786 |  |  | 98,434 |  |  | 100,367 |  |  |  |  |  |  |
Total | $ | 265,633 |  |  | $ | 296,719 |  |  | $ | 789,767 |  |  | $ | 917,243 |  |  |  |  |  |  |
The following table presents the significant expenses included in the Company’s segment reporting performance measure, Segment Adjusted EBITDA, that are regularly provided to the CODM:
|  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  |  |  |  | 2025 |  | 2024 |  | 2025 |  | 2024
|  |  |  |  | (in thousands)
Domestic |  |  |  |  |  |  |  |  |  |  |
Consumer marketing expense (a) |  |  |  |  | $ | 84,869 |  |  | $ | 84,431 |  |  | $ | 242,999 |  |  | $ | 245,975 |
Fixed expense (b) |  |  |  |  | 45,006 |  |  | 47,658 |  |  | 142,761 |  |  | 153,534 |
Pro acquisition expense (c) |  |  |  |  | 34,068 |  |  | 57,577 |  |  | 108,243 |  |  | 186,456 |
Variable expense (d) |  |  |  |  | 26,979 |  |  | 29,835 |  |  | 81,507 |  |  | 94,370 |
Cost of revenue (e) |  |  |  |  | 11,270 |  |  | 13,692 |  |  | 35,619 |  |  | 38,445 |
Total Domestic expenses |  |  |  |  | 202,192 |  |  | 233,193 |  |  | 611,129 |  |  | 718,780 |
International |  |  |  |  |  |  |  |  |  |  |
Fixed expense (b) |  |  |  |  | 11,249 |  |  | 12,093 |  |  | 34,786 |  |  | 39,063 |
Variable expense (d) |  |  |  |  | 5,117 |  |  | 4,861 |  |  | 16,496 |  |  | 12,704 |
Consumer marketing expense (a) |  |  |  |  | 4,084 |  |  | 3,545 |  |  | 13,771 |  |  | 12,370 |
Pro acquisition expense (c) |  |  |  |  | 2,312 |  |  | 6,562 |  |  | 10,429 |  |  | 17,820 |
Cost of revenue (e) |  |  |  |  | 1,190 |  |  | 1,058 |  |  | 2,998 |  |  | 2,954 |
Total International expenses |  |  |  |  | 23,952 |  |  | 28,119 |  |  | 78,480 |  |  | 84,911 |
Total expenses |  |  |  |  | $ | 226,144 |  |  | $ | 261,312 |  |  | $ | 689,609 |  |  | $ | 803,691 |
Pro acquisition expense for the three months ended September 30, 2025 excludes $1.9 million of commissions capitalized in the same period and includes $6.5 million of capitalized commissions amortized from prior periods. Pro acquisition expense for the three months ended September 30, 2024 excludes $9.2 million of commissions capitalized in the same period and includes $12.1 million of capitalized commissions amortized from prior periods. Pro acquisition expense for the nine months ended September 30, 2025 excludes $7.7 million of commissions capitalized in the same period and includes $23.3 million of capitalized commissions amortized from prior periods. Pro acquisition expense for the nine months ended September 30, 2024 excludes $33.6 million of commissions capitalized in the same period and includes $39.0 million of capitalized commissions amortized from prior periods. _____________________ (a) Consumer marketing expense includes (i) advertising expenditures to promote the brand to consumers with (a) online marketing, including fees paid to search engines and other online marketing platforms, partners who direct traffic to our brands, and app platforms, and (b) offline marketing, which is primarily television, streaming and radio advertising, (ii) compensation expense, excluding stock-based compensation, and other employee-related costs for consumer marketing personnel and (iii) outsourced personnel costs. (b) Fixed expense includes (i) compensation expense, excluding stock-based compensation, and other employee-related costs for personnel engaged in (a) the design, development, testing, and enhancement of product offerings and related technology and (b) executive management, finance, legal, tax, marketing and human resources functions, (ii) software license and maintenance costs, (iii) rent expense and facilities costs (including impairments of ROU assets), (iv) fees for professional services and (iv) outsourced personnel costs for personnel engaged in product development. (c) Pro acquisition expense includes (i) advertising expenditures to promote the brand to Pros with (a) online marketing, including fees paid to search engines and other online marketing platforms, partners who direct traffic to the brands within the Angi segments, and app platforms, and (b) offline marketing, which is primarily television, streaming and radio advertising and (ii) compensation expense, excluding stock-based compensation, and other employee-related costs for professional acquisition sales and marketing personnel. (d) Variable expense includes (i) compensation expense, excluding stock-based compensation, and other employee-related costs for personnel engaged in customer service functions, (ii) provision for credit losses, (iii) outsourced personnel costs for personnel engaged in assisting in customer service functions and (iv) service guarantee expense. (e) Cost of revenue consists primarily of (i) credit card processing fees, (ii) hosting fees and (iii) payments made to independent third-party Pros who perform work.
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 September 30, |  | Nine Months Ended September 30, |  |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |  |
| (In thousands)
Domestic: |  |  |  |  |  |  |  |  |  |  |  |  |
Lead revenue | $ | 151,261 |  |  | $ | 151,893 |  |  | $ | 420,857 |  |  | $ | 480,048 |  |  |  |  |  |  |
Advertising revenue | 57,820 |  |  | 78,782 |  |  | 193,713 |  |  | 234,228 |  |  |  |  |  |  |
Services revenue | 17,188 |  |  | 23,702 |  |  | 53,401 |  |  | 68,748 |  |  |  |  |  |  |
Membership subscription revenue | 6,931 |  |  | 10,452 |  |  | 23,205 |  |  | 33,491 |  |  |  |  |  |  |
Other revenue | 47 |  |  | 104 |  |  | 157 |  |  | 361 |  |  |  |  |  |  |
Total Domestic revenue | 233,247 |  |  | 264,933 |  |  | 691,333 |  |  | 816,876 |  |  |  |  |  |  |
International: |  |  |  |  |  |  |  |  |  |  |  |  |
Lead revenue | 31,986 |  |  | 26,024 |  |  | 96,376 |  |  | 82,711 |  |  |  |  |  |  |
Membership subscription revenue | — |  |  | 5,562 |  |  | 838 |  |  | 16,891 |  |  |  |  |  |  |
Other revenue | 400 |  |  | 200 |  |  | 1,220 |  |  | 765 |  |  |  |  |  |  |
Total International revenue | 32,386 |  |  | 31,786 |  |  | 98,434 |  |  | 100,367 |  |  |  |  |  |  |
Total revenue | $ | 265,633 |  |  | $ | 296,719 |  |  | $ | 789,767 |  |  | $ | 917,243 |  |  |  |  |  |  |
Schedule of Reconciliation of Adjusted EBITDA to Operating Income (Loss) | The following table presents a summary of Segment Adjusted EBITDA:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |  |
| (In thousands)
Segment Adjusted EBITDA: |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 31,052 |  |  | $ | 31,743 |  |  | $ | 80,199 |  |  | $ | 98,101 |  |  |  |  |  |  |
International | 8,630 |  |  | 3,666 |  |  | 20,152 |  |  | 15,453 |  |  |  |  |  |  |
Total Segment Adjusted EBITDA | $ | 39,682 |  |  | $ | 35,409 |  |  | $ | 100,351 |  |  | $ | 113,554 |  |  |  |  |  |  |
The following table reconciles total Segment Adjusted EBITDA to earnings before income taxes:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In thousands)
Total Segment Adjusted EBITDA | $ | 39,682 |  |  | $ | 35,409 |  |  | $ | 100,351 |  |  | $ | 113,554 |
Stock-based compensation expense | (5,982) |  |  | (10,024) |  |  | (8,749) |  |  | (28,093) |
Depreciation | (11,918) |  |  | (17,568) |  |  | (32,144) |  |  | (65,741) |
Interest expense | (5,069) |  |  | (5,045) |  |  | (15,164) |  |  | (15,124) |
Other income, net | 4,090 |  |  | 5,979 |  |  | 13,737 |  |  | 15,033 |
Earnings before income taxes | $ | 20,803 |  |  | $ | 8,751 |  |  | $ | 58,031 |  |  | $ | 19,629 |
Schedule of Capital Expenditures by Segment | The following table presents capital expenditures as viewed by the CODM:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In thousands)
Capital expenditures: |  |  |  |  |  |  |
Domestic | $ | 14,162 |  |  | $ | 12,103 |  |  | $ | 38,829 |  |  | $ | 37,531 |
International | 1,886 |  |  | — |  |  | 2,043 |  |  | 16 |
Total | $ | 16,048 |  |  | $ | 12,103 |  |  | $ | 40,872 |  |  | $ | 37,547 |
Schedule of Revenue by Geographic Areas | 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 September 30, |  | Nine Months Ended September 30, |  |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |  |
| (In thousands)
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |
United States | $ | 233,219 |  |  | $ | 264,931 |  |  | $ | 691,254 |  |  | $ | 816,621 |  |  |  |  |  |  |
All other countries | 32,414 |  |  | 31,788 |  |  | 98,513 |  |  | 100,622 |  |  |  |  |  |  |
Total | $ | 265,633 |  |  | $ | 296,719 |  |  | $ | 789,767 |  |  | $ | 917,243 |  |  |  |  |  |  |
Schedule of Long-lived Assets by Geographic Areas |
| September 30, 2025 |  | December 31, 2024
| (In thousands)
Long-lived assets (excluding goodwill and intangible assets): |  |  |
United States | $ | 111,987 |  |  | $ | 104,290 |
All other countries | 8,272 |  |  | 5,692 |
Total | $ | 120,259 |  |  | $ | 109,982 |

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