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10-Q Filing

Angi Inc. CIK: 1705110 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001705110-23-000040
Period End Date 20230331
Filing Date 20230509
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance angi-20230331_htm.xml
Balance Sheet 61 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $428.14M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $391.29M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $314.96M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $321.15M USD Point-in-time
Marketable debt securities MarketableSecuritiesCurrent - USD Point-in-time
Marketable debt securities MarketableSecuritiesCurrent $12.49M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $93.88M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $92.30M USD Point-in-time
Other current assets OtherAssetsCurrent $66.57M USD Point-in-time
Treasury stock (in shares) TreasuryStockShares 20.21M shares Point-in-time
Other current assets OtherAssetsCurrent $69.17M USD Point-in-time
Treasury stock (in shares) TreasuryStockShares 20.21M shares Point-in-time
Total current assets AssetsCurrent $484.20M USD Point-in-time
Total current assets AssetsCurrent $486.33M USD Point-in-time
Capitalized software, leasehold improvements and equipment, net PropertyPlantAndEquipmentNet $139.06M USD Point-in-time
Capitalized software, leasehold improvements and equipment, net PropertyPlantAndEquipmentNet $153.85M USD Point-in-time
Goodwill Goodwill $882.95M USD Point-in-time
Goodwill Goodwill $883.73M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $178.10M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $175.59M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $145.46M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $144.31M USD Point-in-time
Other non-current assets, net OtherAssetsNoncurrent $63.21M USD Point-in-time
Other non-current assets, net OtherAssetsNoncurrent $59.88M USD Point-in-time
TOTAL ASSETS Assets $1.89B USD Point-in-time
TOTAL ASSETS Assets $1.91B USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $30.86M USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $31.02M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $50.24M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $53.80M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $50.91M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $200.01M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $188.88M USD Point-in-time
Total current liabilities LiabilitiesCurrent $281.78M USD Point-in-time
Total current liabilities LiabilitiesCurrent $270.14M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $495.47M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $495.28M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $2.91M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $2.93M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $76.43M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $72.03M 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 $1.41B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.42B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-190.08M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-205.40M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.17M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-711.00K USD Point-in-time
Treasury stock, 20,211 and 20,211 shares, respectively TreasuryStockValue $166.18M USD Point-in-time
Treasury stock, 20,211 and 20,211 shares, respectively TreasuryStockValue $166.18M USD Point-in-time
Total Angi Inc. shareholders equity StockholdersEquity $1.05B USD Point-in-time
Total Angi Inc. shareholders equity StockholdersEquity $1.04B USD Point-in-time
Noncontrolling interests MinorityInterest $2.99M USD Point-in-time
Noncontrolling interests MinorityInterest $3.36M USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.15B USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.11B USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY LiabilitiesAndStockholdersEquity $1.89B USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY LiabilitiesAndStockholdersEquity $1.91B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $436.16M USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $392.41M USD 1 Quarter
Cost of revenue (exclusive of depreciation shown separately below) CostOfRevenue $42.04M USD 1 Quarter
Cost of revenue (exclusive of depreciation shown separately below) CostOfRevenue $99.00M USD 1 Quarter
Gross profit GrossProfit $350.37M USD 1 Quarter
Gross profit GrossProfit $337.16M USD 1 Quarter
Selling and marketing expense SellingAndMarketingExpense $204.91M USD 1 Quarter
Selling and marketing expense SellingAndMarketingExpense $225.80M USD 1 Quarter
General and administrative expense GeneralAndAdministrativeExpense $102.52M USD 1 Quarter
General and administrative expense GeneralAndAdministrativeExpense $109.66M USD 1 Quarter
Product development expense ResearchAndDevelopmentExpense $25.31M USD 1 Quarter
Product development expense ResearchAndDevelopmentExpense $17.86M USD 1 Quarter
Depreciation Depreciation $14.00M USD 1 Quarter
Depreciation Depreciation $25.43M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $2.66M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $3.80M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $360.84M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $371.12M USD 1 Quarter
Operating loss OperatingIncomeLoss $-33.96M USD 1 Quarter
Operating loss OperatingIncomeLoss $-10.47M USD 1 Quarter
Interest expense InterestExpense $5.02M USD 1 Quarter
Interest expense InterestExpense $5.03M USD 1 Quarter
Other income (expense),net NonoperatingIncomeExpense $3.81M USD 1 Quarter
Other income (expense),net NonoperatingIncomeExpense $-391.00K USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-39.37M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-11.69M USD 1 Quarter
Income tax (provision) benefit IncomeTaxExpenseBenefit $3.31M USD 1 Quarter
Income tax (provision) benefit IncomeTaxExpenseBenefit $-6.08M USD 1 Quarter
Net loss IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-33.29M USD 1 Quarter
Net loss IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-15.00M USD 1 Quarter
Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $103.00K USD 1 Quarter
Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $325.00K USD 1 Quarter
Net loss attributable to Angi Inc. shareholders NetIncomeLossAvailableToCommonStockholdersBasic $-15.32M USD 1 Quarter
Net loss attributable to Angi Inc. shareholders NetIncomeLossAvailableToCommonStockholdersBasic $-33.39M USD 1 Quarter
Basic loss per share (USD per share) EarningsPerShareBasic $-0.07 USD 1 Quarter
Basic loss per share (USD per share) EarningsPerShareBasic $-0.03 USD 1 Quarter
Diluted loss per share (USD per share) EarningsPerShareDiluted $-0.07 USD 1 Quarter
Diluted loss per share (USD per share) EarningsPerShareDiluted $-0.03 USD 1 Quarter
Total stock-based compensation expense AllocatedShareBasedCompensationExpense $12.98M USD 1 Quarter
Total stock-based compensation expense AllocatedShareBasedCompensationExpense $12.88M USD 1 Quarter
Cash Flow Statement 58 line items
Line Item Tag Value Unit Period
Net loss IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-33.29M USD 1 Quarter
Net loss IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-15.00M USD 1 Quarter
Provision for credit losses AccountsReceivableCreditLossExpenseReversalandRecovery $24.87M USD 1 Quarter
Provision for credit losses AccountsReceivableCreditLossExpenseReversalandRecovery $21.61M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $12.98M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $12.88M USD 1 Quarter
Depreciation Depreciation $14.00M USD 1 Quarter
Depreciation Depreciation $25.43M USD 1 Quarter
Amortization of Intangibles AmortizationOfIntangibleAssets $2.66M USD 1 Quarter
Amortization of Intangibles AmortizationOfIntangibleAssets $3.80M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-8.13M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $1.15M USD 1 Quarter
Non-cash lease expense (including impairment of right-of-use assets) LeaseExpenseNoncash $3.35M USD 1 Quarter
Non-cash lease expense (including impairment of right-of-use assets) LeaseExpenseNoncash $3.67M USD 1 Quarter
Other adjustments, net OtherNoncashIncomeExpense $193.00K USD 1 Quarter
Other adjustments, net OtherNoncashIncomeExpense $433.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $23.19M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $37.77M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-1.74M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-1.93M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $22.12M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-9.83M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-4.45M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-5.07M USD 1 Quarter
Income taxes payable and receivable IncreaseDecreaseInAccruedIncomeTaxesPayable $843.00K USD 1 Quarter
Income taxes payable and receivable IncreaseDecreaseInAccruedIncomeTaxesPayable $1.91M USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $1.39M USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $-665.00K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-735.00K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $19.06M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $11.86M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $26.90M USD 1 Quarter
Purchases of marketable debt securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $12.36M USD 1 Quarter
Purchases of marketable debt securities PaymentsToAcquireAvailableForSaleSecuritiesDebt - USD 1 Quarter
Proceeds from sales of fixed assets ProceedsFromSaleOfPropertyPlantAndEquipment $68.00K USD 1 Quarter
Proceeds from sales of fixed assets ProceedsFromSaleOfPropertyPlantAndEquipment $87.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-24.16M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-26.82M USD 1 Quarter
Purchases of treasury stock PaymentsForRepurchaseOfEquity - USD 1 Quarter
Purchases of treasury stock PaymentsForRepurchaseOfEquity $8.14M USD 1 Quarter
Withholding taxes paid on behalf of employees on net settled stock-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.32M USD 1 Quarter
Withholding taxes paid on behalf of employees on net settled stock-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.38M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-1.38M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-9.47M USD 1 Quarter
Total cash used NetCashProvidedByUsedInContinuingOperations $-6.47M USD 1 Quarter
Total cash used NetCashProvidedByUsedInContinuingOperations $-37.02M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-205.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $179.00K USD 1 Quarter
Net decrease in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-37.22M USD 1 Quarter
Net decrease in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-6.30M USD 1 Quarter
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $322.14M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $392.26M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $429.49M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $315.84M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $322.14M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $392.26M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $429.49M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $315.84M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.15B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.11B USD Point-in-time
Net (loss) earnings NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest $-15.00M USD 1 Quarter
Net (loss) earnings NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest $-33.29M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetofTaxIncludingPortionAttributabletoNonredeemableNoncontrollingInterestTotal $504.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetofTaxIncludingPortionAttributabletoNonredeemableNoncontrollingInterestTotal $-746.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $13.87M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $13.56M USD 1 Quarter
Issuance of common stock pursuant to stock-based awards, net of withholding taxes StockIssuedDuringPeriodValueShareBasedCompensation $-2.47M USD 1 Quarter
Issuance of common stock pursuant to stock-based awards, net of withholding taxes StockIssuedDuringPeriodValueShareBasedCompensation $-2.41M USD 1 Quarter
Other StockholdersEquityOther $5.00K USD 1 Quarter
Purchase of treasury stock TreasuryStockValueAcquiredCostMethod $8.14M USD 1 Quarter
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.15B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.11B USD Point-in-time
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Net loss IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-33.29M USD 1 Quarter
Net loss IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-15.00M USD 1 Quarter
Change in foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-746.00K USD 1 Quarter
Change in foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $502.00K USD 1 Quarter
Change in unrealized gains on available-for-sale marketable debt securities OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $2.00K USD 1 Quarter
Change in unrealized gains on available-for-sale marketable debt securities OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax - USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $504.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-746.00K USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-34.03M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-14.50M USD 1 Quarter
Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $103.00K USD 1 Quarter
Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $325.00K USD 1 Quarter
Change in foreign currency translation adjustment attributable to noncontrolling interests OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $43.00K USD 1 Quarter
Change in foreign currency translation adjustment attributable to noncontrolling interests OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $57.00K USD 1 Quarter
Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $368.00K USD 1 Quarter
Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $160.00K USD 1 Quarter
Comprehensive loss attributable to Angi Inc. shareholders ComprehensiveIncomeNetOfTax $-34.19M USD 1 Quarter
Comprehensive loss attributable to Angi Inc. shareholders ComprehensiveIncomeNetOfTax $-14.86M USD 1 Quarter

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

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