Q2 2026 Angi Inc Earnings Call Transcript

Aug 5, 2026 / 12:30 PM GMT

Release Date Price: MXN250.5

Transcript 10-Q8-K

Key Points

Positve

Angi Inc (ANGI) is seeing strong momentum in the large pro segment, with over 20% year-over-year growth and a clear strategy to penetrate this under-indexed market.
The company's AI strategy is showing early promise, with the homeowner agent touching 50% of traffic and converting at 3x the rate, and the first pro agent (AI front desk) already booking appointments at human-level performance.
Pro capacity is stabilizing, with year-over-year declines improving from -13% in Q1 to roughly flat in July, driven by a 13% increase in average pro capacity from retaining larger pros.
The company is successfully reallocating marketing spend to higher ROI channels, improving marketing efficiency and driving July EBITDA margins 700 basis points above Q2 levels.
Angi Inc (ANGI) is making progress on its new AI-first platform, with the homeowner experience live on new technology and a clear roadmap to migrate the pro experience by early 2027, which should reduce churn and drive growth.
The company is expanding into new channels like ChatGPT, which is already profitable at a $3 million revenue run rate, with potential to scale similarly to its Meta business.
Repeat homeowner rates are up 20% over the last couple of quarters, supporting brand traffic and reducing reliance on paid marketing.

Negative

Angi Inc (ANGI) reported an 11% year-over-year revenue decline in Q2, driven by a shift away from network channels, lower quality paid marketing, and a demand mix shift away from larger job categories.
The company recorded a significant non-cash impairment charge of $235 million on its US reporting unit due to a sustained decline in market capitalization, with potential for further charges if conditions deteriorate.
US service requests were down 6% and leads down 13% year-over-year, reflecting continued softness in homeowner demand and a challenging macro environment.
The company has not reinstated guidance and expects only modest sequential improvements, with revenue still below pre-March run rates and no clear timeline for a return to growth.
Unbranded SEO traffic has declined to nearly 5% of total service request volume, and the company does not expect recovery, highlighting ongoing pressure from AI and Google on organic search.
TV marketing has become less effective this year, requiring significant pullbacks in spend (5-6 million in Q2 and similar in Q3) without a clear plan to restore its efficiency.
The company's legacy technology remains a drag, with pro churn on the international platform about half the US rate, indicating significant work remains to capture platform migration benefits.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ANGI.OQ - Angi Inc
Q2 2026 Angi Inc Earnings Call
Aug 05, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to the ANI second quarter 2026 earnings conference call.

Today, all participants will be in a listen-only mode should you need assistance during today's call, please signal for a conference specialist by pressing the key, followed by 0.

After today's introductory remarks, there will be an opportunity to ask questions.

To ask a question, you may press star, then 1 on your telephone keypad to withdraw your question, please press star, then 2, please note that today's event is being recorded.

I would now like to turn the conference over to Julie Arrahu, Chief Financial Officer.

Please go ahead.

Good morning, everyone.

I'm Julie Waho, the CFO of NG Inc.

And welcome

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