Angi Inc. Q3 FY2025 earnings call

• Jeff Kip highlighted the company's mission to deliver more jobs done well, with improvements in key metrics: estimated hire rate up double digits, pro win rate up nearly 30%, homeowner Net Promoter Score up nearly 10 points YOY and 30 over 2 years, and pro retention with churn better by 7% in last 12 months YOY and 26% vs 2 years ago. • Proprietary service request growth accelerated to 11% in Q3, proprietary lead growth at 16%, and revenue per lead growth at 11%. • Network channel went from nearly 40% of leads a year ago to less than 10% in Q3, with win rates improving. Plan to transition to a single modern global and AI-first platform by 2027, with ongoing work to rebuild architecture. • Sales channel in Pro acquisition has reduced head count but increased lifetime margins.

• Target for 2026 revenue growth remains mid-single-digit, with modest overall service growth offset by network comparisons. • Expect leverage from revenue to EBITDA growth by maintaining fixed cost discipline. • CapEx expected to be around $60 million this year, similar next year but front-loaded in 2026. • Two vendor-related matters from prior years may slide into 2026.

• Vendor-related matters from prior years that could resolve into 2026. • Platform migration and technology transition could face unforeseen issues. • Competitive landscape and macroeconomic factors could impact performance.

Q: Dan Kurnos asked about 2026 outlook and CapEx.

A: Jeff Kip stated target for 2026 revenue growth remains mid-single-digit, and Andrew Russakoff discussed CapEx expectations.

Q: Andrew Watts asked about ads migration response and network channel impact.

A: Jeff Kip responded on ads migration progress and network channel changes.

Q: Sergio Segura asked about AI helper impact and marketing investment.

A: Jeff Kip talked about AI helper's role and marketing investment plans.

Q: Stephen Ju asked about traffic acquisition strategy and Q3 trends.

A: Jeff Kip answered on traffic acquisition and Q3 trends.

Q: Eric Sheridan asked about share buyback.

A: Andrew Russakoff responded on share buyback details.

Q: Youssef Squali asked about macro and platform consolidation.

A: Jeff Kip answered on macro trends and platform consolidation.

Q: Matthew Condon asked about service request sustainability and competitive intensity.

A: Jeff Kip responded on service request sustainability and competitive landscape.

Q: Ygal Arounian asked about 2026 EBITDA.

A: Jeff Kip discussed 2026 EBITDA expectations