--- title: "Angi | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 238.15 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285260575.md" datetime: "2026-05-05T20:22:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285260575.md) - [en](https://longbridge.com/en/news/285260575.md) - [zh-HK](https://longbridge.com/zh-HK/news/285260575.md) --- # Angi | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 238.15 M Revenue: As of FY2026 Q1, the actual value is USD 238.15 M, missing the estimate of USD 240.91 M. EPS: As of FY2026 Q1, the actual value is USD -0.22, beating the estimate of USD -0.3321. EBIT: As of FY2026 Q1, the actual value is USD -4.134 M. #### Q1 2026 Financial Highlights (YoY Comparison) ##### Revenue - Total revenue decreased by -3% to $238.2 million in Q1 2026 from $245.9 million in Q1 2025. - U.S. Revenue was $202.5 million in Q1 2026, a -5% decrease from $212.6 million in Q1 2025. - International Revenue increased by 7% to $35.7 million in Q1 2026 from $33.4 million in Q1 2025. - Proprietary Revenue grew by 7% to $185.355 million in Q1 2026 from $173.351 million in Q1 2025. - Network Revenue declined by -56% to $17.143 million in Q1 2026 from $39.204 million in Q1 2025. ##### Profitability - Operating loss was - $9.5 million in Q1 2026, compared to an operating income of $20.0 million in Q1 2025, reflecting a $14.9 million restructuring charge and higher depreciation expense. - Net loss was - $9.0 million in Q1 2026, compared to net earnings of $15.1 million in Q1 2025. - Adjusted EBITDA decreased by -17% to $22.9 million in Q1 2026 from $27.7 million in Q1 2025, primarily due to planned reinvestment in brand marketing and a decline in Network Revenue, partially offset by lower fixed costs. ##### Operating Costs and Expenses (in thousands) - Cost of revenue was $9,693 in Q1 2026, down from $13,015 in Q1 2025. - Gross profit was $228,457 in Q1 2026, compared to $232,898 in Q1 2025. - Selling and marketing expense increased to $139,933 in Q1 2026 from $118,541 in Q1 2025. - General and administrative expense was $57,931 in Q1 2026, slightly up from $57,319 in Q1 2025. - Product development expense decreased to $10,440 in Q1 2026 from $27,087 in Q1 2025. - Depreciation increased to $14,694 in Q1 2026 from $9,948 in Q1 2025. - Restructuring charges of $14,923 were recorded in Q1 2026, with none in Q1 2025. - Total operating costs and expenses increased to $237,921 in Q1 2026 from $212,895 in Q1 2025. ##### Cash Flow - Net cash used in operating activities was - $17.9 million in Q1 2026, compared to - $3.1 million in Q1 2025. - Capital expenditures were - $15.7 million in Q1 2026, up from - $12.6 million in Q1 2025. - Free Cash Flow was - $33.6 million in Q1 2026, compared to - $15.7 million in Q1 2025. ##### Balance Sheet (as of March 31, 2026) - Cash and cash equivalents totaled $244.6 million. - Long-term debt, net, was $471.4 million. ##### Debt Repurchase - Angi Inc. repurchased $100.0 million aggregate principal amount of its 2028 Senior Notes for $91.9 million in cash, resulting in an $8.4 million gain and reducing outstanding debt. #### Operational Metrics (Q1 2026 vs Q1 2025) ##### Service Requests (in thousands) - Total Service Requests increased by 5% to 3,521 from 3,361. - Proprietary Service Requests increased by 17% to 3,254 from 2,773. - Network Service Requests decreased by -55% to 267 from 588. ##### Leads (in thousands) - Total Leads were flat at 4,423 compared to 4,402. - Proprietary Leads increased by 13% to 4,048 from 3,590. - Network Leads decreased by -54% to 374 from 812. ##### Professional Metrics (in thousands) - Acquired Pros decreased by -2% to 23 from 24. - Average Monthly Active Pros decreased by -22% to 105 from 134. - Average Monthly Churn was -5.0%, an -11% change from -4.5%. ##### Revenue per Lead - Revenue per Lead decreased by -5% year-over-year in Q1 2026, primarily due to delivering additional Leads to subscription Pros in excess of their contract values. #### Outlook / Guidance Angi Inc. is reorganizing to focus product and development on an AI-native platform and strategy. 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