Angi Inc 8-K, filed Jan 11, 2023
Angi Inc. (ANGI)
About this 8-K
Angi Inc filed this 8-K on January 11, 2023.
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
UNITED STATES
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WASHINGTON, D.C. 20549
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CURRENT REPORT
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| Item 2.02 | Results of Operations and Financial Condition. |
| Item 7.01 | Regulation FD Disclosure. |
On January 11, 2023, the Registrant announced that IAC Inc. (the Registrant’s controlling shareholder (“IAC”)) had posted preliminary monthly year-over-year growth trends for the Registrant through December 31, 2022 on the investor relations section of IAC’s website (https://ir.iac.com/quarterly-results). These trends, together with related commentary, are set forth immediately below. The Registrant will provide further commentary on these trends when it reports earnings for the quarter ended December 31, 2022 in February 2023. Following its release of these trends, IAC will no longer release monthly year-over-year growth trends for the Registrant and will instead return to releasing this information on a quarterly basis, commencing with the quarter ending March 31, 2023.
| 6/22 | 7/22 | 8/22 | 9/22 | 10/22 | 11/22 | 12/22(1) | |||||||||||||||
| Angi Inc. | |||||||||||||||||||||
| Angi Ads and Leads | 11 | % | 7 | % | 6 | % | 6 | % | 7 | % | 4 | % | 6 | % | |||||||
| Angi Services (2) | 103 | % | 18 | % | 14 | % | 5 | % | 12 | % | 7 | % | 9 | % | |||||||
| Total North America Revenue | 29 | % | 10 | % | 8 | % | 6 | % | 9 | % | 5 | % | 7 | % | |||||||
| Europe Revenue | -1 | % | 6 | % | 3 | % | -2 | % | -6 | % | 3 | % | -2 | % | |||||||
| Total Revenue | 27 | % | 10 | % | 8 | % | 6 | % | 8 | % | 5 | % | 6 | % | |||||||
| Angi Service Requests | -8 | % | -9 | % | -8 | % | -16 | % | -13 | % | -14 | % | -10 | % | |||||||
| Angi Monetized Transactions | -5 | % | -8 | % | -8 | % | -15 | % | -13 | % | -16 | % | -15 | % | |||||||
| Angi Transacting Service Professionals | -2 | % | -3 | % | -6 | % | -10 | % | -11 | % | -13 | % | -14 | % | |||||||
| Angi Advertising Service Professionals | -8 | % | -7 | % | -6 | % | -5 | % | -4 | % | -4 | % | -4 | % |
| (1) | As of the date of this report, the Registrant has not yet completed its financial close process for the quarter ended December 31, 2022. As a result, the information set forth above is preliminary and based upon information available to the Registrant as of the date of this report. During the course of the Registrant’s financial close process for the quarter ended December 31, 2022, it may identify items that would require adjustments to the information set forth above, which may impact growth rates and may be material to the information set forth above. |
| (2) | Includes revenue from Angi Roofing, which was acquired on July 1, 2021. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ANGI INC. | ||
| By: | /s/ Shannon Shaw | |
| Name: | Shannon Shaw | |
| Title: | Chief Legal Officer | |
Date: January 11, 2023