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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Angi
Angi (ANGI) investor relations material
Angi Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Q3 revenue fell 8.9% YoY to $242.0M; Adjusted EBITDA rose 6.3% to $42.2M as higher monetization partly offset lower Lead volume.
CEO Mike Steib’s priorities include simplifying operations, improving products with technology and AI, strengthening cash flow and returning to growth.
Service-request declines moderated after lower-return marketing and sales activity was reduced.
Financial highlights
Q3 operating income was $15.5M versus $21.8M; net income was $1.3M versus $10.6M, and diluted EPS was $0.03 versus $0.23.
Q3 gross profit was $231.4M, down 9% YoY; gross margin increased to 96% from 95%.
9M revenue declined 8% to $728.2M; net loss was $238.3M, including $225.6M of goodwill impairment and $9.6M of intangible impairment.
Q3 operating cash flow was $28.5M, CapEx was $14.1M and free cash flow was $14.4M, versus $4.9M a year earlier.
9M operating cash flow was $37.9M versus $75.0M; free cash flow was negative $7.0M versus positive $34.1M.
Outlook and guidance
No detailed 2027 forecast yet; EBITDA less CapEx is expected to grow meaningfully and substantially exceed the prior $50M floor for 2026.
Management expects a return to growth in H2 2027; difficult revenue comparisons persist over the next few quarters and extend into 2027.
Workforce reductions are expected to generate $50M–$60M in annual run-rate operating expense and CapEx savings; some savings may be reinvested.
Restructuring charges are estimated at $18M–$30M, primarily in Q4 2026 and H1 2027; savings are expected to reach full annualized run rate by end-H1 2027.
Q4 faces seasonally softer demand and a difficult comparison with elevated Q4 2025 marketing; quarterly margins may vary with seasonality, mix and investment timing.
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Latest events from Angi
- Q2 2026 revenue fell 11%, with a $230.7M net loss and a $225.6M–$235.2M impairment.ANGI
Q2 2026 - All director nominees, incentive plan expansion, and auditor ratification were approved.ANGIAGM 2026
- Revenue down 3%, net loss $9.0M, AI pivot and restructuring drive debt reduction.ANGIQ1 2026
- Virtual meeting to elect directors, approve incentive plan, and ratify auditor in June 2026.ANGIProxy filing
- Virtual meeting to vote on directors, stock plan, and auditor; strong governance and pay practices.ANGIProxy filing
- Q4 2025 saw strong proprietary growth, major cost cuts, and a return to revenue growth guidance.ANGIQ4 2025
- Q3 2024 revenue fell 16% but profitability improved and Angi spin-off is under consideration.ANGIQ3 2024
- Revenue fell 19% but profitability improved sharply amid strategic realignment and share buybacks.ANGIQ1 2025
- Angi spin-off set for March 2025 as DDM posts strong digital growth despite Q4 revenue decline.ANGIQ4 2024
Next Angi earnings date
Investor Day 202617 Nov, 2026
Angi
Next Angi earnings date
Investor Day 202617 Nov, 2026
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Frequently asked questions
The world's largest marketplace operator for home services
Angi provides several marketplaces that connect consumers looking for home services with service providers for over 500 categories, such as plumbing, house cleaning, and roof repair, et cetera. Thus, the company sits in the middle of the on-demand economy with its two-sided network business model.
The company’s most well-known brands and marketplaces are Angi, HomeAdvisor, and Handy, all located in the U.S. with similar offerings. Angi also has a wide presence in Europe, with brands like Travaux in France, MyHammer in Germany, and MyBuilder in the UK. A significant majority of the company's revenue, however, stems from U.S. operations.
Several rebrandings and acquisitions
Angi was founded as Angie’s list in 1995 by Angie Hicks and William S. Oesterle. The idea came from Hicks's search for a reliable construction contractor on behalf of Oesterle, a venture capitalist and Hicks's boss at the time. In 2011, Angie’s List went public on the NASDAQ as ANGI.
From 1995 till now, the company has made several rebrandings and acquisitions. The most prominent rebranding was completed on March 17, 2021, when the company also made several drastic changes to its business. With this move, Angie's List became Angi, HomeAdvisor became HomeAdvisor, powered by Angi, and the corporate name ANGI Homeservices was changed to Angi. New logotypes, a new mobile experience that included the company's new pre-priced offering, in-app messaging, and features regarding how to get financing and make payments on the platform, summarize the major changes.
Self-regulated and network effects
Compelling for both consumers and Angi, a marketplace is usually self-regulated. If a service provider does a poor job, it will result in a bad review. This reproduces a structure where a service provider who does not deliver, and thus gets bad reviews, will have a hard time getting more jobs through the platform – incrementally increasing the overall quality of services over time.
A marketplace also entails network effects, which act as a competitive strength. An increase in demand (customers looking for home services) means that Angi will attract more supply (service providers) and vice-versa. This causes the value proposition from a two-sided marketplace to increase as it grows. The long-term vision for Angi is to be the natural cognitive reference if something is going to get done in anyone’s home – like Uber for transport, Airbnb for travel, or Amazon for eCommerce.