Angi Q3 revenue falls 9%, slightly misses estimates on lower lead volume
ANGI•Angi’s third-quarter revenue fell 9% to $242 million, slightly below the $242.67 million estimate, while adjusted EBITDA of $42.2 million beat expectations. The company plans to cut about 300 jobs, targeting $50 million to $60 million in annual savings.
1. Revenue and earnings
Angi said third-quarter revenue fell 9% as higher monetization was offset by lower Lead volume. Revenue per Lead and average monthly revenue per active Pro rose as the business shifted toward Large Pros, where revenue grew more than 20%. Adjusted EBITDA was $42.2 million, above the $28.65 million estimate, driven by lower fixed and variable expenses.
2. Planned workforce cuts
The company plans to cut about 300 jobs and expects $50 million to $60 million in annual run-rate savings. It anticipates $18 million to $30 million in restructuring charges, mainly in the fourth quarter of 2026 and first half of 2027. Operating income fell, reflecting lower revenue and higher depreciation, including accelerated depreciation on capitalized software tied to the planned retirement of a legacy technology platform.
