Angi Inc.

Q1 2021 Earnings

Supplemental Financial Information and Operating Metrics

Table of Contents

Page(s)

Financial Results and Reconciliations

2-3

Operating Metrics

4

Angi Inc.

Financial Results and Reconciliations (Unaudited) ($ in millions; rounding differences may occur)

2019

2020

2021

FYE 12/31

Q1

Q2

Q3

Q4

FYE 12/31

Q1

Q2

Q3

Q4

FYE 12/31

Revenue

North America

$

1,249.9

$

324.1

$

357.4

$

372.2

$

341.7

$

1,395.4

$

361.0

Europe

76.3

19.5

17.6

17.7

17.6

72.5

26.0

Total Revenue

$

1,326.2

$

343.6

$

375.1

$

389.9

$

359.3

$

1,467.9

$

387.0

Operating income (loss)

North America

$

49.0

$

(8.1)

$

16.2

$

0.3

$

(3.6)

$

4.8

$

9.6

Europe

(10.3)

(8.2)

1.5

(3.3)

(1.1)

(11.2)

(9.5)

Total operating income (loss)

$

38.6

$

(16.3)

$

17.6

$

(3.0)

$

(4.7)

$

(6.4)

$

0.1

Stock-based compensation expense

North America

$

(67.6)

$

(25.3)

$

(14.5)

$

(14.6)

$

(28.5)

$

(82.9)

$

(1.9)

Europe

(0.6)

(0.3)

(0.3)

(0.1)

(0.1)

(0.7)

(0.1)

Total stock-based compensation expense

$

(68.3)

$

(25.6)

$

(14.8)

$

(14.7)

$

(28.6)

$

(83.6)

$

(2.0)

Depreciation

North America

$

(37.5)

$

(11.3)

$

(11.5)

$

(12.8)

$

(13.0)

$

(48.5)

$

(14.6)

Europe

(2.4)

(0.8)

(1.1)

(1.2)

(1.0)

(4.1)

(1.4)

Total depreciation

$

(39.9)

$

(12.1)

$

(12.6)

$

(13.9)

$

(14.0)

$

(52.6)

$

(16.0)

Amortization of intangibles

North America

$

(54.1)

$

(12.9)

$

(12.9)

$

(12.8)

$

(4.0)

$

(42.6)

$

(5.1)

Europe

(1.4)

(0.1)

(0.1)

(0.1)

(0.0)

(0.3)

-

Total amortization of intangibles

$

(55.5)

$

(13.0)

$

(13.0)

$

(12.9)

$

(4.1)

$

(42.9)

$

(5.1)

Adjusted EBITDA (a)

North America

$

208.2

$

41.4

$

55.0

$

40.5

$

42.0

$

178.9

$

31.2

Europe

(5.9)

(7.0)

2.9

(2.0)

0.0

(6.1)

(8.0)

Total Adjusted EBITDA

$

202.3

$

34.4

$

57.9

$

38.5

$

42.0

$

172.8

$

23.2

See notes on page 3

2

Angi Inc.

Financial Results and Reconciliations (Unaudited) ($ in millions; rounding differences may occur)

2019

2020

2021

FYE 12/31

Q1

Q2

Q3

Q4

FYE 12/31

Q1

Q2

Q3

Q4

FYE 12/31

Net earnings (loss) attributable to Angi Inc. shareholders

34.8

(9.0)

$

12.7

$

4.5

(14.5)

(6.3)

1.9

$

$

Add back:

Net earnings (loss) attributable to noncontrolling interests

0.5

(0.2)

0.5

0.7

1.1

2.1

0.1

Income tax (benefit) provision

(1.7)

(9.0)

3.0

(11.7)

2.5

(15.2)

(9.3)

Other (income) expense, net

(6.5)

(0.4)

(0.2)

(0.2)

(0.4)

(1.2)

0.8

Interest expense

11.5

2.3

1.6

3.7

6.6

14.2

6.6

Operating income (loss)

38.6

(16.3)

17.6

(3.0)

(4.7)

(6.4)

0.1

Add back:

Stock-based compensation expense

68.3

25.6

14.8

14.7

28.6

83.6

2.0

Depreciation

39.9

12.1

12.6

13.9

14.0

52.6

16.0

Amortization of intangibles

55.5

13.0

13.0

12.9

4.1

42.9

5.1

Adjusted EBITDA

$

202.3

$

34.4

$

57.9

$

38.5

$

42.0

$

172.8

$

23.2

Diluted weighted average shares outstanding

517.9

499.5

510.5

514.7

499.9

498.2

510.7

Diluted earnings (loss) per share (b)

$

0.07

$

(0.02)

$

0.02

$

0.01

$

(0.03)

$

(0.01)

$

0.00

  1. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of amortization of intangible assets and impairments of goodwill and intangible assets, if applicable. We believe this measure is useful for analysts and investors as this measure allows a more meaningful comparison between our performance and that of our competitors. The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature. Adjusted EBITDA has certain limitations because it excludes the impact of these expenses.
  2. Quarterly per share amounts for 2020 may not add up to the related annual per share amount due to differences in the number of average common shares outstanding during each period.

3

Angi Inc.

(rounding differences may occur)

2019

2020

2021

FYE 12/31

Q1

Q2

Q3

Q4

FYE 12/31

Q1

Q2

Q3

Q4

FYE 12/31

Angi Inc.

Revenue ($ in millions)

As Reported

Marketplace (a)

$

992.7

$

258.8

$

293.2

$

306.7

$

272.7

$

1,131.3

$

291.1

Advertising and Other (b)

257.2

65.4

64.2

65.5

69.0

264.1

70.0

Total North America

$

1,249.9

$

324.1

$

357.4

$

372.2

$

341.7

$

1,395.4

$

361.0

Europe

76.3

19.5

17.6

17.7

17.6

72.5

26.0

Total Angi Inc. Revenue

$

1,326.2

$

343.6

$

375.1

$

389.9

$

359.3

$

1,467.9

$

387.0

Marketplace Service Requests (in thousands) (c)

27,553

5,968

9,381

9,837

7,226

32,412

7,709

Marketplace Monetized Transactions (in thousands) (d)

16,068

3,590

4,514

4,716

3,851

16,672

4,193

Marketplace Revenue per Monetized Transaction (e)

$

72

$

65

$

65

$

71

$

69

Marketplace Transacting Service Professionals (in thousands) (f)

191

194

207

208

212

Marketplace Revenue per Transacting Service Professional (g)

$

1,352

$

1,509

$

1,483

$

1,312

$

1,375

Advertising Service Professionals (in thousands) (h)

37

37

37

39

39

39

40

  1. Primarily reflects the domestic marketplace revenue, including consumer connection revenue for consumer matches, revenue from Angi Services (pre-priced) offerings sourced through the marketplace platforms and membership subscription revenue from service professionals.
  2. Primarily includes revenue from service professionals under contract for advertising and membership subscription fees from consumers.
  3. Fully completed and submitted domestic customer service requests and includes Angi Services requests sourced through marketplace platforms in the period.
  4. Fully completed and submitted domestic customer service requests that were matched to and paid for by a service professional and includes completed and in-process Angi Services jobs sourced through the marketplace platforms in the period.
  5. Quarterly Marketplace Revenue divided by Marketplace Monetized Transactions.
  6. The number of marketplace service professionals that paid for consumer matches or performed an Angi Services job sourced through marketplace platforms in the quarter.
  7. Quarterly Marketplace Revenue divided by Marketplace Transacting service professionals.
  8. The number of service professionals under contract for advertising at the end of the period.

4

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Disclaimer

ANGI Inc. published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 20:07:02 UTC.