Angi’s first quarter saw a sharp year-over-year revenue decline, but results exceeded Wall Street’s expectations, leading to a positive market reaction. Management attributed performance to the rollout of “homeowner choice,” which allows customers to select their service professional directly, resulting in higher customer satisfaction and improved pro win rates. CEO Jeff Kip emphasized that this change marked a significant improvement in user experience, with the company’s Net Promoter Score moving from deeply negative to nearly positive for the first time. The adoption of this model, however, led to a notable drop in lead volume, which management cited as the primary reason for lower reported revenue.

Is now the time to buy ANGI? Find out in our full research report (it’s free).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions Angi’s Q1 Earnings Call

• Eric Sheridan (Goldman Sachs) asked about the impact of macroeconomic trends and margin framework. CFO Andrew Russakoff explained that consumer caution has led to smaller job sizes, but Angi’s focus on nondiscretionary services and operational discipline provides downside protection.
• Cory Carpenter (JPMorgan) requested clarity on revenue trends and capital allocation priorities. CEO Jeff Kip emphasized confidence in sequential revenue improvement due to stabilization in proprietary leads and discussed the company’s approach to share buybacks and disciplined acquisitions.
• Justin Patterson (KeyBanc) inquired about future product initiatives and the role of AI. CEO Jeff Kip detailed ongoing improvements in job matching and the rollout of LLM-based AI helpers, highlighting their positive effects on both customer and pro experience.
• Stephen Ju (UBS) asked about international performance and pro network trends. CEO Jeff Kip explained that restructuring the Canadian business and compliance with European regulations led to temporary declines, but margins improved and network capacity remains robust.
• Dan Kurnos (The Benchmark Company) questioned pro acquisition strategy and marketing channels. CEO Jeff Kip confirmed a focus on higher-value pros and highlighted successful expansion into new paid acquisition channels, including search and social media.

Catalysts in Upcoming Quarters

In the coming quarters, the StockStory team will be watching (1) the pace of proprietary channel growth and whether revenue per lead increases as the unified platform rollout progresses, (2) further adoption and impact of AI-driven tools on customer and pro engagement, and (3) stabilization of the pro network as online self-serve pro acquisition ramps up. The effectiveness of cost controls and responses to regulatory changes will also be important factors to monitor.

Angi currently trades at $15.41, up from $11.25 just before the earnings. At this price, is it a buy or sell? See for yourself in our full research report (it’s free).

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