Key Points – Second-quarter performance weakened: Revenue declined 11% year over year, including a 34% drop in network revenue, as Angi reduced lower-quality marketing and homeowner demand shifted toward smaller projects.
The company expects modest improvement but did not reinstate guidance. – Angi maintained its cash-flow target while cutting marketing costs: Management reallocated about $6 million of TV spending to higher-return channels and remains on track for approximately $50 million in annual adjusted EBITDA less capital expenditures
A $235 million non-cash impairment charge reduced goodwill and trade-name values but did not affect liquidity. – Growth plans center on large professionals and AI: Angi is expanding partnerships with larger service businesses, migrating to an AI-first platform and developing tools such as AI Front Desk and Pro CRO. Its homeowner AI agent reaches 50% of traffic and converts users at three times the rate of non-interacting traffic, while management said core-business growth could return as early as 2027 if execution succeeds. – Walmart: Retail Juggernaut Has More Room to Grow for Investors Angi (NASDAQ:ANGI) reported that second-quarter revenue declined 11% year over year, as the company continued to move away from network channels, reduced spending on lower-quality marketing channels, and experienced a shift in homeowner demand following higher oil and gas prices. Chief Financial Officer Julie Hoarau said network revenue fell 34% from a year earlier.
She also said homeowner demand shifted away from larger projects such as roofing and HVAC toward smaller jobs, where the company has less available professional capacity and therefore less ability to monetize demand. – ANGI Home Services Stock Providing Pullback Opportunities U.S. service requests declined 6% year over year, while leads fell 13%. Revenue per lead increased 1%, which Hoarau attributed to the mix-out of a heavily discounted legacy advertising product. Compared with…