v3.24.3
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Our reportable segments currently consist of Ads and Leads, Services, and International. Our CODM regularly reviews certain financial information by operating segment to determine allocation of resources and assess its performance. Segment profitability is determined by and presented on an Adjusted EBITDA basis consistent with the CODM’s view of profitability of its businesses, which excludes certain expenses that are required in accordance with GAAP.
The following table presents revenue by reportable segment:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(In thousands)
Revenue:
Domestic
Ads and Leads$241,231 $291,993 $748,128 $877,986 
Services23,702 29,964 68,748 91,890 
Total Domestic264,933 321,957 816,876 969,876 
International31,786 29,274 100,367 88,439 
Total$296,719 $351,231 $917,243 $1,058,315 
The following table presents the revenue of the Company’s segments disaggregated by type of service:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(In thousands)
Domestic:
Ads and Leads:
Consumer connection revenue$151,893 $203,579 $480,048 $625,527 
Advertising revenue78,782 75,074 234,228 212,302 
Membership subscription revenue10,452 13,167 33,491 39,597 
Other revenue104 173 361 560 
Total Ads and Leads revenue241,231 291,993 748,128 877,986 
Services revenue23,702 29,964 68,748 91,890 
Total Domestic264,933 321,957 816,876 969,876 
International:
Consumer connection revenue26,024 23,144 82,711 71,260 
Membership subscription revenue5,562 6,023 16,891 16,834 
Advertising and other revenue200 107 765 345 
Total International31,786 29,274 100,367 88,439 
Total revenue$296,719 $351,231 $917,243 $1,058,315 
Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented below:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(In thousands)
Revenue:
United States$264,931 $321,957 $816,621 $969,876 
All other countries31,788 29,274 100,622 88,439 
Total$296,719 $351,231 $917,243 $1,058,315 
September 30, 2024December 31, 2023
(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States$111,532 $145,710 
All other countries7,484 9,788 
Total$119,016 $155,498 
The following tables present operating income (loss) and Adjusted EBITDA by reportable segment:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(In thousands)
Operating income (loss):
Ads and Leads$21,107 $8,115 $65,734 $26,386 
Services(324)(3,887)(12,313)(21,514)
Corporate(15,714)(14,854)(46,022)(46,361)
International2,748 2,764 12,321 7,365 
Total$7,817 $(7,862)$19,720 $(34,124)

Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(In thousands)
Adjusted EBITDA(a):
Ads and Leads$42,248 $32,198 $132,446 $100,204 
Services3,883 3,534 5,868 3,066 
Corporate(14,388)(11,933)(40,213)(37,396)
International3,666 4,046 15,453 11,237 
Total$35,409 $27,845 $113,554 $77,111 
(a)    The Company’s primary financial measure and GAAP segment measure is Adjusted EBITDA, which is defined as operating income (loss) 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 consider operating income (loss) to be the financial measure calculated and presented in accordance with GAAP that is most directly comparable to our segment reporting performance measure, Adjusted EBITDA. The following tables reconcile operating income (loss) for the Company’s reportable segments and net earnings (loss) attributable to Angi Inc. shareholders to Adjusted EBITDA:
Three Months Ended September 30, 2024
Operating Income (Loss)Stock-Based
Compensation Expense		Depreciation
Adjusted
EBITDA(a)
(In thousands)
Ads and Leads$21,107 $7,823 $13,318 $42,248 
Services(324)730 3,477 3,883 
Corporate(15,714)1,326 — (14,388)
International2,748 145 773 3,666 
Total7,817 $10,024 $17,568 $35,409 
Interest expense(5,045)
Other income, net5,979 
Earnings before income taxes8,751 
Income tax benefit26,612 
Net earnings35,363 
Net earnings attributable to noncontrolling interests(202)
Net earnings attributable to Angi Inc. shareholders$35,161 
Three Months Ended September 30, 2023
Operating Income (Loss)Stock-Based
Compensation Expense		DepreciationAmortization
of Intangibles
Adjusted
EBITDA(a)
(In thousands)
Ads and Leads$8,115 $6,082 $15,368 $2,633 $32,198 
Services(3,887)1,096 6,325 — 3,534 
Corporate(14,854)2,921 — — (11,933)
International2,764 482 800 — 4,046 
Total(7,862)$10,581 $22,493 $2,633 $27,845 
Interest expense(5,037)
Other income, net3,890 
Loss from continuing operations before income taxes(9,009)
Income tax benefit6,057 
Net loss from continuing operations(2,952)
Loss from discontinued operations, net of tax(2,335)
Net loss(5,287)
Net earnings attributable to noncontrolling interests(69)
Net loss attributable to Angi Inc. shareholders$(5,356)
Nine Months Ended September 30, 2024
Operating Income (Loss)Stock-Based
Compensation Expense		Depreciation
Adjusted
EBITDA(a)
(In thousands)
Ads and Leads$65,734 $18,284 $48,428 $132,446 
Services(12,313)3,199 14,982 5,868 
Corporate(46,022)5,809 — (40,213)
International12,321 801 2,331 15,453 
Total19,720 $28,093 $65,741 $113,554 
Interest expense(15,124)
Other income, net15,033 
Earnings before income taxes19,629 
Income tax benefit18,505 
Net earnings38,134 
Net earnings attributable to noncontrolling interests(844)
Net earnings attributable to Angi Inc. shareholders$37,290 
Nine Months Ended September 30, 2023
Operating Income (Loss)Stock-Based
Compensation Expense		DepreciationAmortization
of Intangibles
Adjusted
EBITDA(a)
(In thousands)
Ads and Leads$26,386 $16,880 $48,980 $7,958 $100,204 
Services(21,514)6,497 18,083 — 3,066 
Corporate(46,361)8,965 — — (37,396)
International7,365 1,248 2,624 — 11,237 
Total(34,124)$33,590 $69,687 $7,958 $77,111 
Interest expense(15,100)
Other income, net12,881 
Loss from continuing operations before income taxes(36,343)
Income tax benefit3,813 
Net loss from continuing operations(32,530)
Loss from discontinued operations, net of tax(2,236)
Net loss(34,766)
Net earnings attributable to noncontrolling interests(614)
Net loss attributable to Angi Inc. shareholders$(35,380)