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10-Q Filing

Angi Inc. CIK: 1705110 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0001705110-18-000007
Period End Date 20180331
Filing Date 20180510
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance angi-20180331.xml
Balance Sheet 64 line items
Line Item Tag Value Unit Period
Accounts receivable allowance AllowanceForDoubtfulAccountsReceivableCurrent $9.26M USD Point-in-time
Accounts receivable allowance AllowanceForDoubtfulAccountsReceivableCurrent $11.91M USD Point-in-time
Property and equipment accumulated depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $27.89M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $221.52M USD Point-in-time
Property and equipment accumulated depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $24.37M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $228.74M USD Point-in-time
Accounts receivable, net of allowance and reserves of $11,908 and $9,263, respectively AccountsReceivableNetCurrent $35.87M USD Point-in-time
Accumulated amortization of intangible assets FiniteLivedIntangibleAssetsAccumulatedAmortization $52.26M USD Point-in-time
Accounts receivable, net of allowance and reserves of $11,908 and $9,263, respectively AccountsReceivableNetCurrent $28.09M USD Point-in-time
Accumulated amortization of intangible assets FiniteLivedIntangibleAssetsAccumulatedAmortization $36.29M USD Point-in-time
Other current assets OtherAssetsCurrent $54.78M USD Point-in-time
Other current assets OtherAssetsCurrent $12.77M USD Point-in-time
Total current assets AssetsCurrent $319.39M USD Point-in-time
Total current assets AssetsCurrent $262.38M USD Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $27,888 and $24,368, respectively PropertyPlantAndEquipmentNet $46.97M USD Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $27,888 and $24,368, respectively PropertyPlantAndEquipmentNet $53.29M USD Point-in-time
Goodwill Goodwill $770.23M USD Point-in-time
Goodwill Goodwill $773.81M USD Point-in-time
Intangible assets, net of accumulated amortization of $52,257 and $36,289, respectively IntangibleAssetsNetExcludingGoodwill $328.57M USD Point-in-time
Intangible assets, net of accumulated amortization of $52,257 and $36,289, respectively IntangibleAssetsNetExcludingGoodwill $313.20M USD Point-in-time
Deferred income taxes DeferredTaxAssetsLiabilitiesNetNoncurrent $50.72M USD Point-in-time
Deferred income taxes DeferredTaxAssetsLiabilitiesNetNoncurrent $46.12M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $8.13M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $2.07M USD Point-in-time
TOTAL ASSETS Assets $1.51B USD Point-in-time
TOTAL ASSETS Assets $1.47B USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $13.75M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $13.75M USD Point-in-time
Current portion of long-term debtrelated party DueToRelatedPartiesCurrent $816.00K USD Point-in-time
Current portion of long-term debtrelated party DueToRelatedPartiesCurrent - USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $17.68M USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $18.93M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $62.37M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $67.05M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $70.53M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $75.17M USD Point-in-time
Total current liabilities LiabilitiesCurrent $169.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $171.04M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $255.03M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $258.31M USD Point-in-time
Long-term debtrelated party, net DueToRelatedPartiesNoncurrent $2.40M USD Point-in-time
Long-term debtrelated party, net DueToRelatedPartiesNoncurrent $2.00M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $5.30M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $5.63M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $6.92M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $5.89M USD Point-in-time
Redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityCarryingAmount $22.66M USD Point-in-time
Redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityCarryingAmount $21.30M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.11B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.14B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-105.00M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-121.76M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $6.22M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $2.23M USD Point-in-time
Total ANGI Homeservices Inc. shareholders' equity StockholdersEquity $1.04B USD Point-in-time
Total ANGI Homeservices Inc. shareholders' equity StockholdersEquity $993.35M USD Point-in-time
Noncontrolling interests MinorityInterest $9.75M USD Point-in-time
Noncontrolling interests MinorityInterest $9.58M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.00B USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $1.51B USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $1.47B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Revenue Revenues $255.31M USD 1 Quarter
Revenue Revenues $150.75M USD 1 Quarter
Cost of revenue (exclusive of depreciation shown separately below) CostOfGoodsAndServicesSold $6.83M USD 1 Quarter
Cost of revenue (exclusive of depreciation shown separately below) CostOfGoodsAndServicesSold $13.60M USD 1 Quarter
Selling and marketing expense SellingAndMarketingExpense $95.87M USD 1 Quarter
Selling and marketing expense SellingAndMarketingExpense $137.93M USD 1 Quarter
General and administrative expense GeneralAndAdministrativeExpense $36.72M USD 1 Quarter
General and administrative expense GeneralAndAdministrativeExpense $76.27M USD 1 Quarter
Product development expense ResearchAndDevelopmentExpense $5.58M USD 1 Quarter
Product development expense ResearchAndDevelopmentExpense $15.78M USD 1 Quarter
Depreciation Depreciation $6.18M USD 1 Quarter
Depreciation Depreciation $3.00M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $1.37M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $16.31M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $149.36M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $266.07M USD 1 Quarter
Operating (loss) income OperatingIncomeLoss $1.39M USD 1 Quarter
Operating (loss) income OperatingIncomeLoss $-10.76M USD 1 Quarter
Interest expensethird party InterestExpense $2.65M USD 1 Quarter
Interest expensethird party InterestExpense - USD 1 Quarter
Interest expenserelated party InterestExpenseRelatedParty $1.59M USD 1 Quarter
Interest expenserelated party InterestExpenseRelatedParty $45.00K USD 1 Quarter
Other income, net NonoperatingIncomeExpense $356.00K USD 1 Quarter
Other income, net NonoperatingIncomeExpense $231.00K USD 1 Quarter
(Loss) earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $27.00K USD 1 Quarter
(Loss) earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-13.10M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-3.98M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-25.86M USD 1 Quarter
Net (loss) earnings IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-9.11M USD 1 Quarter
Net (loss) earnings IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $25.89M USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-726.00K USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-229.00K USD 1 Quarter
Net (loss) earnings attributable to ANGI Homeservices Inc. shareholders NetIncomeLossAvailableToCommonStockholdersBasic $26.61M USD 1 Quarter
Net (loss) earnings attributable to ANGI Homeservices Inc. shareholders NetIncomeLossAvailableToCommonStockholdersBasic $-8.88M USD 1 Quarter
Basic (loss) earnings per share (USD per share) EarningsPerShareBasic $0.06 USD 1 Quarter
Basic (loss) earnings per share (USD per share) EarningsPerShareBasic $-0.02 USD 1 Quarter
Diluted (loss) earnings per share (USD per share) EarningsPerShareDiluted $0.06 USD 1 Quarter
Diluted (loss) earnings per share (USD per share) EarningsPerShareDiluted $-0.02 USD 1 Quarter
Stock-based compensation expense AllocatedShareBasedCompensationExpense $4.46M USD 1 Quarter
Stock-based compensation expense AllocatedShareBasedCompensationExpense $24.91M USD 1 Quarter
Cash Flow Statement 63 line items
Line Item Tag Value Unit Period
Net (loss) earnings IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-9.11M USD 1 Quarter
Net (loss) earnings IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $25.89M USD 1 Quarter
Stock-based compensation expense AllocatedShareBasedCompensationExpense $4.46M USD 1 Quarter
Stock-based compensation expense AllocatedShareBasedCompensationExpense $24.91M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $1.37M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $16.31M USD 1 Quarter
Bad debt expense ProvisionForLoanLeaseAndOtherLosses $5.90M USD 1 Quarter
Bad debt expense ProvisionForLoanLeaseAndOtherLosses $9.43M USD 1 Quarter
Depreciation Depreciation $6.18M USD 1 Quarter
Depreciation Depreciation $3.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $2.33M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-4.18M USD 1 Quarter
Other adjustments, net OtherNoncashIncomeExpense $63.00K USD 1 Quarter
Other adjustments, net OtherNoncashIncomeExpense $-55.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $14.46M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $17.65M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $10.72M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $13.75M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-5.33M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $14.59M USD 1 Quarter
Income taxes payable and receivable IncreaseDecreaseInAccruedIncomeTaxesPayable $162.00K USD 1 Quarter
Income taxes payable and receivable IncreaseDecreaseInAccruedIncomeTaxesPayable $-28.51M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $4.20M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $4.19M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $11.10M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $8.10M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $52.37M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $3.75M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $8.89M USD 1 Quarter
Proceeds from sale of fixed assets ProceedsFromSaleOfPropertyPlantAndEquipment $10.41M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $1.52M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-56.11M USD 1 Quarter
Principal payment on term loan RepaymentsOfSecuredDebt $3.44M USD 1 Quarter
Principal payment on term loan RepaymentsOfSecuredDebt - USD 1 Quarter
Proceeds from issuance of related party debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Proceeds from issuance of related party debt ProceedsFromIssuanceOfLongTermDebt $51.85M USD 1 Quarter
Principal payments on related party debt RepaymentsOfLongTermDebt $2.84M USD 1 Quarter
Principal payments on related party debt RepaymentsOfLongTermDebt $618.00K USD 1 Quarter
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised - USD 1 Quarter
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised $1.75M USD 1 Quarter
Withholding taxes paid on behalf of employees on net settled stock-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $2.92M USD 1 Quarter
Withholding taxes paid on behalf of employees on net settled stock-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation - USD 1 Quarter
Transfers from IAC/InterActiveCorp for periods prior to the Combination TransfersfromtoforperiodsPriortoCombination - USD 1 Quarter
Transfers from IAC/InterActiveCorp for periods prior to the Combination TransfersfromtoforperiodsPriortoCombination $6.19M USD 1 Quarter
Purchase of noncontrolling interests PaymentsToMinorityShareholders $234.00K USD 1 Quarter
Purchase of noncontrolling interests PaymentsToMinorityShareholders $12.26M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $39.00K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $42.95M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-5.42M USD 1 Quarter
Total cash provided (used) CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-5.06M USD 1 Quarter
Total cash provided (used) CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $7.20M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents, and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $22.00K USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents, and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $659.00K USD 1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $7.22M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-4.40M USD 1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $228.74M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $42.52M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $221.52M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $46.92M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $228.74M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $42.52M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $221.52M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $46.92M USD Point-in-time
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Balance at beginning of period RedeemableNoncontrollingInterestEquityCarryingAmount $22.66M USD Point-in-time
Balance at beginning of period RedeemableNoncontrollingInterestEquityCarryingAmount $21.30M USD Point-in-time
Balance at end of period RedeemableNoncontrollingInterestEquityCarryingAmount $22.66M USD Point-in-time
Balance at end of period RedeemableNoncontrollingInterestEquityCarryingAmount $21.30M USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.00B USD Point-in-time
Cumulative effect of adoption of ASU No. 2014-09 CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption $25.65M USD Point-in-time
Net loss NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest $-9.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetofTaxIncludingPortionAttributabletoNonredeemableNoncontrollingInterestTotal $4.13M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $24.50M USD 1 Quarter
Issuance of common stock pursuant to stock-based awards, net of withholding taxes StockIssuedDuringPeriodValueShareBasedCompensation $-1.14M USD 1 Quarter
Issuance of common stock to IAC pursuant to the employee matters agreement StockIssuedDuringPeriodValueRelatedPartyEmployeeMattersAgreement - USD 1 Quarter
Purchase of noncontrolling interests MinorityInterestDecreaseFromRedemptions $269.00K USD 1 Quarter
Adjustment of redeemable noncontrolling interests to fair value MinorityInterestChangeInRedemptionValue $-643.00K USD 1 Quarter
Other StockholdersEquityOther - USD 1 Quarter
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.00B USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net (loss) earnings IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-9.11M USD 1 Quarter
Net (loss) earnings IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $25.89M USD 1 Quarter
Change in foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $4.50M USD 1 Quarter
Change in foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.01M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $1.01M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $4.50M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-4.61M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $26.89M USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-726.00K USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-229.00K USD 1 Quarter
Change in foreign currency translation adjustment attributable to noncontrolling interests OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $512.00K USD 1 Quarter
Change in foreign currency translation adjustment attributable to noncontrolling interests OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $-154.00K USD 1 Quarter
Comprehensive (income) loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-880.00K USD 1 Quarter
Comprehensive (income) loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $283.00K USD 1 Quarter
Comprehensive (loss) income attributable to ANGI Homeservices Inc. shareholders ComprehensiveIncomeNetOfTax $27.77M USD 1 Quarter
Comprehensive (loss) income attributable to ANGI Homeservices Inc. shareholders ComprehensiveIncomeNetOfTax $-4.89M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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