Quarterly ResultMay 5, 2026, 04:14 PM
Angi Q1 Revenue Down 3% to $238.2M; Reports Operating Loss
AI Summary
Angi Inc. reported its first-quarter 2026 results, with revenue decreasing 3% year-over-year to $238.2 million and an operating loss of $9.5 million, compared to an operating income of $20.0 million in Q1 2025. The company also announced the appointment of Michael Wanderer as Chief Operating Officer, effective May 4, 2026, and detailed his compensatory arrangements. Angi is reorganizing to focus on an AI-native platform and strategy, and repurchased $100.0 million of senior notes.
Key Highlights
- Michael Wanderer appointed Chief Operating Officer, effective May 4, 2026.
- Q1 2026 Revenue decreased 3% YoY to $238.2 million.
- Operating loss was $9.5 million vs. $20.0 million income in Q1 2025.
- Diluted loss per share was $0.22 vs. $0.30 earnings per share in Q1 2025.
- Adjusted EBITDA decreased 17% YoY to $22.9 million.
- Repurchased $100.0 million of 2028 Senior Notes for $91.9 million cash.
- Total U.S. Service Requests grew 5% YoY; Proprietary Service Requests up 17%.
- Company reorganizes to focus on AI-native platform and strategy.