ANGI INC Reports Second Quarter Earnings Results for FY2023
August 15, 2023
🌥️Earnings Overview
ANGI ($NASDAQ:ANGI) Inc. reported their second quarter FY2023 earnings results on August 8 2023, as of June 30 2023. Total revenue was USD 375.1 million, a decrease of 27.3% compared to the same quarter of the prior year. Net income for the quarter was USD -14.7 million, which was an improvement from -24.2 million reported last year.
Share Price
The company opened at $3.9 and closed at the same price, representing a 2.1% increase from the last closing price of $3.8. Despite the small increase in stock performance, ANGI Inc reported a strong quarter with significant year-over-year revenue growth. This was mainly due to the continued success of its home services and digital marketplace, HomeAdvisor. ANGI Inc’s CEO, Mike Shields, spoke highly of the company’s continued success and showed optimism in their future prospects.
He stated “We are proud to report another quarter of strong results and to have continued to show a steady trajectory of growth this year. We remain committed to delivering value to our customers and shareholders as we look ahead to the remainder of FY2023.” Overall, ANGI Inc is well-positioned for future success and will continue to monitor performance and adjust strategy as needed to ensure long-term success in the months and years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Angi Inc. More…
| Total Revenues | Net Income | Net Margin |
| 1.71k | -100.85 | -4.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Angi Inc. More…
| Operations | Investing | Financing |
| 97.77 | -76.03 | -13.15 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Angi Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.9k | 860.33 | 2.05 |
Key Ratios Snapshot
Some of the financial key ratios for Angi Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.9% | 68.9% | -5.1% |
| FCF Margin | ROE | ROA |
| 1.2% | -5.2% | -2.8% |
Analysis
GoodWhale has completed an analysis on ANGI INC‘s wellbeing. The Star Chart for the company showed that ANGI INC is strong in growth, medium in asset, profitability and weak in dividend. Despite the weak dividend performance, ANGI INC has a high health score of 8/10 given its cashflows and debt, which means the company is very capable to pay off debt and fund future operations. In addition, ANGI INC is classified as an ‘elephant’, meaning it is a type of company with rich assets after subtracting liabilities. Given the results of our analysis, investors who are interested in capital gains due to its strong growth, and those looking for medium-term returns due to its asset base, are the ideal target investors for ANGI INC. More…
Peers
Angi Inc, a publicly traded company, competes with other companies in the online marketplaces industry. Its competitors include Snap Inc, Cookpad Inc, Travelzoo, and others. Angi Inc has a market capitalization of $3.6 billion as of May 2020. The company was founded in 2006 and is headquartered in Boston, Massachusetts.
– Snap Inc ($NYSE:SNAP)
As of 2022, Snapchat has a market capitalization of 12.52 billion and a return on equity of -13.96%. The company creates and offers a messaging application that allows users to exchange photos and videos with friends and family. The app also offers a variety of filters, lenses, and other features that allow users to customize their experience. Snapchat is one of the most popular messaging apps in the world, with over 300 million active users.
– Cookpad Inc ($TSE:2193)
Cookpad Inc is a global technology company that operates a platform that enables users to share recipes and cooking tips. The company has a market cap of 20.84B as of 2022 and a ROE of -8.56%. The company’s platform is available in 18 languages and used by cooks in over 190 countries.
– Travelzoo ($NASDAQ:TZOO)
Travelzoo is a global media commerce company. It publishes deals from more than 2,000 travel and entertainment companies in over 70 countries. Travelzoo has a market capitalization of $62.34 million and a return on equity of 1,058.5%. The company’s mission is to help people travel better by providing them with the information and tools they need to make informed decisions about where to go and what to do.
Summary
Investors in ANGI INC have reason to worry about the company’s financial health after its second quarter FY2023 earnings results. Total revenue decreased by 27.3% compared to the same quarter last year, and net income for the quarter amounted to a loss of USD 14.7 million. Furthermore, this figure is worse than the prior year’s net income of -24.2 million. It appears that ANGI INC needs to take measures to improve its finances in order to build investor confidence.
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