Angi (ANGI) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 05, 2022
Document Information [Line Items]
Document Type	10-Q
Document Annual Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-38220
Entity Registrant Name	Angi Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-1204801
Entity Address, Address Line One	3601 Walnut Street
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80205
City Area Code	303
Local Phone Number	963-7200
Title of 12(b) Security	Class A Common Stock, par value $0.001
Trading Symbol	ANGI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001705110
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		81,270,011
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		422,019,247

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 360,950	$ 428,136
Accounts receivable, net of reserves of $46,317 and $36,360, respectively	119,768	84,387
Other current assets	81,864	70,548
Total current assets	562,582	583,071
Capitalized software, leasehold improvements and equipment, net	156,230	118,267
Goodwill	909,964	916,039
Intangible assets, net	185,174	193,826
Deferred income taxes	135,315	122,693
Other non-current assets, net	68,250	76,245
TOTAL ASSETS	2,017,515	2,010,141
LIABILITIES:
Accounts payable	41,700	38,860
Deferred revenue	56,940	53,834
Accrued expenses and other current liabilities	238,962	183,815
Total current liabilities	337,602	276,509
Long-term debt, net	494,913	494,552
Deferred income taxes	2,223	1,883
Other long-term liabilities	82,905	91,670
Commitments and contingencies
SHAREHOLDERS’ EQUITY:
Additional paid-in capital	1,374,200	1,350,457
Accumulated deficit	(119,251)	(61,629)
Accumulated other comprehensive (loss) income	(393)	3,309
Treasury stock, 20,211 and 19,167 shares, respectively	(166,184)	(158,040)
Total Angi Inc. shareholders’ equity	1,088,895	1,134,619
Noncontrolling interests	10,977	10,908
Total shareholders’ equity	1,099,872	1,145,527
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	2,017,515	2,010,141
Class A Common Stock
SHAREHOLDERS’ EQUITY:
Common stock, value	101	100
Class B Common Stock
SHAREHOLDERS’ EQUITY:
Common stock, value	422	422
Class C Common Stock
SHAREHOLDERS’ EQUITY:
Common stock, value	$ 0	$ 0

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accounts receivable, allowance for credit loss	$ 46,317	$ 36,360
Treasury stock (shares)	20,211,000	19,167,000
Class A Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common stock authorized (shares)	2,000,000,000	2,000,000,000
Common stock issued (shares)	100,897,000	99,745,000
Common stock outstanding (shares)	80,686,000	80,578,000
Class B Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common stock authorized (shares)	1,500,000,000	1,500,000,000
Common stock issued (shares)	422,019,000	422,019,000
Common stock outstanding (shares)	422,019,000	422,019,000
Class C Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common stock authorized (shares)	1,500,000,000	1,500,000,000
Common stock issued (shares)	0	0
Common stock outstanding (shares)	0	0

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue	$ 515,782	$ 420,988	$ 951,941	$ 808,017
Cost of revenue (exclusive of depreciation shown separately below)	127,771	69,704	226,769	123,532
Gross profit	388,011	351,284	725,172	684,485
Operating costs and expenses:
Selling and marketing expense	251,159	239,031	476,960	444,871
General and administrative expense	119,626	107,486	229,281	195,648
Product development expense	20,954	18,752	38,813	36,799
Depreciation	13,354	15,058	27,353	31,027
Amortization of intangibles	3,804	3,688	7,608	8,762
Total operating costs and expenses	408,897	384,015	780,015	717,107
Operating loss	(20,886)	(32,731)	(54,843)	(32,622)
Interest expense	(5,026)	(5,814)	(10,048)	(12,431)
Other expense, net	(1,750)	(636)	(2,141)	(1,403)
Loss before income taxes	(27,662)	(39,181)	(67,032)	(46,456)
Income tax benefit	3,665	9,129	9,748	18,418
Net loss	(23,997)	(30,052)	(57,284)	(28,038)
Net earnings attributable to noncontrolling interests	(235)	(241)	(338)	(324)
Net loss attributable to Angi Inc. shareholders	$ (24,232)	$ (30,293)	$ (57,622)	$ (28,362)
Per share information attributable to Angi Inc. shareholders:
Basic loss per share (USD per share)	$ (0.05)	$ (0.06)	$ (0.11)	$ (0.06)
Diluted loss per share (USD per share)	$ (0.05)	$ (0.06)	$ (0.11)	$ (0.06)
Stock-based compensation expense by function:
Stock-Based Compensation Expense	$ 13,417	$ 9,543	$ 26,402	$ 11,577
Selling and marketing expense
Stock-based compensation expense by function:
Stock-Based Compensation Expense	1,891	865	3,130	1,882
General and administrative expense
Stock-based compensation expense by function:
Stock-Based Compensation Expense	8,662	7,410	18,297	7,494
Product development expense
Stock-based compensation expense by function:
Stock-Based Compensation Expense	$ 2,864	$ 1,268	$ 4,975	$ 2,201

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (23,997)	$ (30,052)	$ (57,284)	$ (28,038)
Other comprehensive (loss) income:
Change in foreign currency translation adjustment	(3,225)	1,395	(3,971)	2,075
Comprehensive loss	(27,222)	(28,657)	(61,255)	(25,963)
Components of comprehensive loss (income) attributable to noncontrolling interests:
Net earnings attributable to noncontrolling interests	(235)	(241)	(338)	(324)
Change in foreign currency translation adjustment attributable to noncontrolling interests	326	(45)	269	(739)
Comprehensive loss (income) attributable to noncontrolling interests	91	(286)	(69)	(1,063)
Comprehensive loss attributable to Angi Inc. shareholders	$ (27,131)	$ (28,943)	$ (61,324)	$ (27,026)

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Redeemable Noncontrolling Interests	Total Angi Inc. Shareholders' Equity	Common Stock Class A Common Stock $0.001 Par Value	Common Stock Class B Convertible Common Stock $0.001 Par Value	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income	Treasury Stock	Noncontrolling Interests
Balance at beginning of period at Dec. 31, 2020		$ 26,364
Increase (Decrease) in Redeemable Noncontrolling Interests
Net (loss) earnings		(12)
Other comprehensive loss		588
Purchase of noncontrolling interests		(22,938)
Adjustment of redeemable noncontrolling interests to fair value		534
Balance at end of period at Jun. 30, 2021		4,536
Balance at beginning of period at Dec. 31, 2020	$ 1,282,857		$ 1,272,290	$ 94	$ 422	$ 1,379,469	$ 9,749	$ 4,637	$ (122,081)	$ 10,567
Balance at beginning of period (shares) at Dec. 31, 2020				94,238	421,862
Increase (Decrease) in Shareholders' Equity
Net (loss) earnings	(28,026)		(28,362)				(28,362)			336
Other comprehensive loss	1,487		1,336					1,336		151
Stock-based compensation expense	14,019		14,019			14,019
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(54,741)		(54,741)	$ 2		(54,743)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (shares)				2,288
Issuance of common stock to IAC pursuant to the employee matters agreement	0		0	$ 3		(3)
Issuance of common stock to IAC pursuant to the employee matters agreement (shares)				2,585	115
Purchase of treasury stock	(5,637)		(5,637)						(5,637)
Adjustment of redeemable noncontrolling interests to fair value	(534)		(534)			(534)
Balance at end of period at Jun. 30, 2021	1,209,425		1,198,371	$ 99	$ 422	1,338,208	(18,613)	5,973	(127,718)	11,054
Balance at end of period (shares) at Jun. 30, 2021				99,111	421,977
Balance at beginning of period at Mar. 31, 2021		4,608
Increase (Decrease) in Redeemable Noncontrolling Interests
Net (loss) earnings		48
Other comprehensive loss		8
Adjustment of redeemable noncontrolling interests to fair value		(128)
Balance at end of period at Jun. 30, 2021		4,536
Balance at beginning of period at Mar. 31, 2021	1,233,943		1,223,120	$ 98	$ 422	1,333,294	11,680	4,623	(126,997)	10,823
Balance at beginning of period (shares) at Mar. 31, 2021				98,408	421,958
Increase (Decrease) in Shareholders' Equity
Net (loss) earnings	(30,099)		(30,293)				(30,293)			194
Other comprehensive loss	1,387		1,350					1,350		37
Stock-based compensation expense	11,477		11,477			11,477
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(6,690)		(6,690)	$ 1		(6,691)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (shares)				697
Issuance of common stock to IAC pursuant to the employee matters agreement	0		0
Issuance of common stock to IAC pursuant to the employee matters agreement (shares)				6	19
Purchase of treasury stock	(721)		(721)						(721)
Adjustment of redeemable noncontrolling interests to fair value	128		128			128
Balance at end of period at Jun. 30, 2021	1,209,425		1,198,371	$ 99	$ 422	1,338,208	(18,613)	5,973	(127,718)	11,054
Balance at end of period (shares) at Jun. 30, 2021				99,111	421,977
Balance at beginning of period at Dec. 31, 2021		0
Balance at end of period at Jun. 30, 2022		0
Balance at beginning of period at Dec. 31, 2021	1,145,527		1,134,619	$ 100	$ 422	1,350,457	(61,629)	3,309	(158,040)	10,908
Balance at beginning of period (shares) at Dec. 31, 2021				99,745	422,019
Increase (Decrease) in Shareholders' Equity
Net (loss) earnings	(57,283)		(57,622)				(57,622)			339
Other comprehensive loss	(3,971)		(3,702)					(3,702)		(269)
Stock-based compensation expense	27,667		27,667			27,667
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(3,923)		(3,923)	$ 1		(3,924)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (shares)				1,152
Purchase of treasury stock	(8,144)		(8,144)						(8,144)
Other	(1)		0							(1)
Balance at end of period at Jun. 30, 2022	1,099,872		1,088,895	$ 101	$ 422	1,374,200	(119,251)	(393)	(166,184)	10,977
Balance at end of period (shares) at Jun. 30, 2022				100,897	422,019
Balance at beginning of period at Mar. 31, 2022		0
Balance at end of period at Jun. 30, 2022		$ 0
Balance at beginning of period at Mar. 31, 2022	1,114,433		1,103,365	$ 100	$ 422	1,361,540	(95,019)	2,506	(166,184)	11,068
Balance at beginning of period (shares) at Mar. 31, 2022				100,426	422,019
Increase (Decrease) in Shareholders' Equity
Net (loss) earnings	(23,996)		(24,232)				(24,232)			236
Other comprehensive loss	(3,225)		(2,899)					(2,899)		(326)
Stock-based compensation expense	14,111		14,111			14,111
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(1,450)		(1,450)	$ 1		(1,451)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (shares)				471
Other	(1)		0							(1)
Balance at end of period at Jun. 30, 2022	$ 1,099,872		$ 1,088,895	$ 101	$ 422	$ 1,374,200	$ (119,251)	$ (393)	$ (166,184)	$ 10,977
Balance at end of period (shares) at Jun. 30, 2022				100,897	422,019

CONSOLIDATED STATEMENT OF SHA_2

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	Jun. 30, 2022	Jun. 30, 2021
Class A Common Stock $0.001 Par Value
Common stock, par value (USD per share)	$ 0.001
Class A Common Stock $0.001 Par Value | Common Stock
Common stock, par value (USD per share)	0.001	$ 0.001
Class B Convertible Common Stock $0.001 Par Value
Common stock, par value (USD per share)	0.001
Class B Convertible Common Stock $0.001 Par Value | Common Stock
Common stock, par value (USD per share)	0.001	0.001
Class C Common Stock $0.001 Par Value
Common stock, par value (USD per share)	0.001
Class C Common Stock $0.001 Par Value | Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (57,284)	$ (28,038)
Adjustments to reconcile net loss to net cash provided by operating activities:
Provision for credit losses	47,926	42,731
Stock-based compensation expense	26,402	11,577
Depreciation	27,353	31,027
Amortization of intangibles	7,608	8,762
Deferred income taxes	(12,095)	(20,344)
Impairment of long-lived and right-of-use assets	2,195	12,280
Non-cash lease expense	6,612	6,326
Revenue reserves	3,009	4,667
Other adjustments, net	1,976	2,592
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable	(84,234)	(63,192)
Other assets	(11,140)	2,050
Accounts payable and other liabilities	52,661	51,442
Operating lease liabilities	(8,624)	(8,243)
Income taxes payable and receivable	1,571	315
Deferred revenue	3,143	5,301
Net cash provided by operating activities	7,079	59,253
Cash flows from investing activities:
Capital expenditures	(62,138)	(35,713)
Proceeds from maturities of marketable debt securities	0	50,000
Net proceeds from the sale of a business	0	750
Proceeds from sale of fixed assets	164	0
Net cash (used in) provided by investing activities	(61,974)	15,037
Cash flows from financing activities:
Principal payments on Term Loan	0	(220,000)
Purchase of treasury stock	(8,144)	(5,637)
Withholding taxes paid on behalf of employees on net settled stock-based awards	(3,513)	(54,596)
Purchase of noncontrolling interests	0	(22,938)
Net cash used in financing activities	(11,657)	(303,171)
Total cash used	(66,552)	(228,881)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(983)	546
Net decrease in cash and cash equivalents and restricted cash	(67,535)	(228,335)
Cash and cash equivalents and restricted cash at beginning of period	429,485	813,561
Cash and cash equivalents and restricted cash at end of period	$ 361,950	$ 585,226

THE COMPANY AND SUMMARY OF SIGN

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Angi Inc. (“Angi,” the “Company,” “we,” “our,” or “us”) connects quality home service professionals with consumers across more than 500 different categories, from repairing and remodeling homes to cleaning and landscaping. Over 256,000 domestic service professionals actively sought consumer matches, completed jobs, or advertised work through Angi platforms during the three months ended June 30, 2022. Additionally, consumers turned to at least one of our brands to find a service professional for approximately 31 million projects during the twelve months ended June 30, 2022. The Company has two operating segments: (i) North America (United States and Canada), which includes Angi Ads, Angi Leads, and Angi Services; and (ii) Europe. In March 2021, the Company rebranded its North American brands which operate as follows: Angi Ads operates under the Angi brand, Angi Leads operates primarily under the HomeAdvisor, powered by Angi brand, and Angi Services operates primarily under the Handy and Angi Roofing brands. As used herein, “Angi,” the “Company,” “we,” “our,” “us,” and similar terms refer to Angi Inc. and its subsidiaries (unless the context requires otherwise). At June 30, 2022, IAC/InterActiveCorp (“IAC”) owned 84.5% and 98.2% of the economic interest and voting interest, respectively, of the Company. Basis of Presentation and Consolidation The Company prepares its consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The consolidated financial statements include the accounts of the Company, all entities that are wholly-owned by the Company and all entities in which the Company has a controlling financial interest. All intercompany transactions and balances between and among the Company and its subsidiaries have been eliminated. All intercompany transactions between (i) Angi and (ii) IAC and its subsidiaries are considered to be effectively settled for cash at the time the transaction is recorded. See “ Note 10—Related Party Transactions with IAC ” for additional information on transactions between Angi and IAC. The Company is included within IAC’s tax group for purposes of federal and consolidated state income tax return filings. For the purpose of these financial statements, income taxes have been computed on an as if standalone, separate return basis. Any differences between taxes currently payable to or receivable from IAC under the tax sharing agreement between the Company and IAC and the current tax provision computed on an as if standalone, separate return basis for GAAP are reflected as adjustments to additional paid-in capital and as financing activities within the statement of cash flows. In management's opinion, the unaudited interim consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, consisting of normal and recurring adjustments, necessary for the fair presentation of the Company's consolidated financial position, consolidated results of operations and consolidated cash flows for the periods presented. Interim results are not necessarily indicative of the results that may be expected for the full year. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. COVID-19 Update The impact on the Company from the COVID-19 pandemic and the measures designed to contain its spread has been varied and volatile. The impact of COVID-19 has been difficult to precisely identify and measure in 2021 and beyond because we launched the rebranding initiative in March 2021. As previously disclosed, the impact of COVID-19 initially resulted in a decline in demand for service requests, driven primarily by decreases in demand in certain categories of jobs (particularly discretionary indoor projects). While these businesses experienced a rebound in service requests from mid-2020 through early 2021, service requests started to decline in May 2021 and continued to decline into early 2022 due to the launch of Angi Inc.’s brand integration in March 2021, and the Omicron variant surge in late 2021 and early 2022. Our ability to monetize service requests rebounded modestly in the second half of 2021, continued to increase in the first half of 2022, and is approaching levels experienced pre-COVID-19. No assurances can be provided that we will continue to be able to improve monetization, or that service professionals’ businesses and, as a consequence, our revenue and profitability will not continue to be adversely impacted by COVID-19 in the future. The extent to which developments related to the COVID-19 pandemic and measures designed to curb its spread continue to impact the Company’s business, financial condition, and results of operations will depend on future developments, all of which are highly uncertain and many of which are beyond the Company’s control, including the continuing spread of COVID-19, the severity of resurgences of COVID-19 caused by variant strains of the virus, the effectiveness of vaccines and attitudes toward receiving them, materials and supply chain constraints, labor shortages, the scope of governmental and other restrictions on travel, discretionary services and other activity, and public reactions to these developments. Accounting Estimates Management of the Company is required to make certain estimates, judgments, and assumptions during the preparation of its consolidated financial statements in accordance with GAAP. These estimates, judgments, and assumptions impact the reported amounts of assets, liabilities, revenue, and expenses and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates. On an ongoing basis, the Company evaluates its estimates and judgments, including those related to: the fair values of cash equivalents and marketable debt securities; the carrying value of accounts receivable, including the determination of the allowance for credit losses and the determination of revenue reserves; the determination of the customer relationship period for certain costs to obtain a contract with a customer; the carrying value of right-of-use assets (“ROU assets”); the useful lives and recoverability of definite-lived intangible assets and capitalized software, leasehold improvements, and equipment; the recoverability of goodwill and indefinite-lived intangible assets; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the fair value of and forfeiture rates for stock-based awards, among others. The Company bases its estimates and judgments on historical experience, its forecasts and budgets, and other factors that the Company considers relevant. General Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to the Company’s customers and in the amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company’s disaggregated revenue disclosures are presented in “ Note 7—Segment Information .” Deferred Revenue Deferred revenue consists of payments that are received or are contractually due in advance of the Company’s performance obligation. The Company’s deferred revenue is reported on a contract-by-contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the remaining term of the applicable subscription period or expected completion of its performance obligation is one year or less. At December 31, 2021, the current and non-current deferred revenue balances were $53.8 million and $0.1 million, respectively, and during the six months ended June 30, 2022, the Company recognized $45.8 million of revenue that was included in the deferred revenue balance as of December 31, 2021. At December 31, 2020, the current and non-current deferred revenue balances were $54.7 million and $0.2 million, respectively, and during the six months ended June 30, 2021, the Company recognized $46.0 million of revenue that was included in the deferred revenue balance as of December 31, 2020. The current and non-current deferred revenue balances at June 30, 2022 are $56.9 million and less than $0.1 million, respectively. Non-current deferred revenue is included in “Other long-term liabilities” in the accompanying consolidated balance sheet. Practical Expedients and Exemptions As permitted under the practical expedient available under Accounting Standard Codification (“ASC”) 606, Revenue from Contracts with Customers , the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise accounted for under the series guidance, and (iii) contracts for which the Company recognizes revenue at the amount which the Company has the right to invoice for services performed. Commissions Paid to Employees Pursuant to Sales Incentive Programs The Company has determined that commissions paid to employees pursuant to certain sales incentive programs meet the requirements to be capitalized as the incremental costs to obtain a contract with a customer. When customer renewals are expected and the renewal commission is not commensurate with the initial commission, the average customer life includes renewal periods. Capitalized commissions paid to employees pursuant to these sales incentive programs are amortized over the estimated customer relationship period and are included in “Selling and marketing expense” in the accompanying statement of operations. The Company calculates the anticipated customer relationship period as the average customer life, which is based on historical data. For sales incentive programs where the anticipated customer relationship period is one year or less, the Company has elected the practical expedient to expense the commissions as incurred. Assets Recognized from the Costs to Obtain a Contract with a Customer The Company uses a portfolio approach to assess the accounting treatment of the incremental costs to obtain a contract with a customer. The Company recognizes an asset for these costs if we expect to recover those costs. To the extent that these costs are capitalized, the resultant asset is amortized on a systematic basis consistent with the pattern of the transfer of the services to which the asset relates. The current contract assets are $47.6 million and $38.0 million at June 30, 2022 and December 31, 2021, respectively. The non-current assets are $1.0 million and $1.1 million at June 30, 2022 and December 31, 2021, respectively. The current and non-current capitalized costs to obtain a contract with a customer are included in “Other current assets” and “Other non-current assets” in the accompanying balance sheet. Recent Accounting Pronouncements There are no recently issued accounting pronouncements adopted or that have not yet been adopted by the Company that are expected to have a material effect on the results of operations, financial condition, or cash flows of the Company. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company is included within IAC’s tax group for purposes of federal and consolidated state income tax return filings. In all periods presented, the income tax benefit and/or provision has been computed for the Company on an as if standalone, separate return basis and payments to and refunds from IAC for the Company’s share of IAC’s consolidated federal and state tax return liabilities/receivables calculated on this basis have been reflected within cash flows from operating activities in the accompanying consolidated statement of cash flows. The tax sharing agreement between the Company and IAC governs the parties’ respective rights, responsibilities and obligations with respect to tax matters, including responsibility for taxes attributable to the Company, entitlement to refunds, allocation of tax attributes and other matters and, therefore, ultimately governs the amount payable to or receivable from IAC with respect to income taxes. Any differences between taxes currently payable to or receivable from IAC under the tax sharing agreement and the current tax provision computed on an as if standalone, separate return basis for GAAP are reflected as adjustments to additional paid-in capital in the consolidated statement of shareholders’ equity and financing activities within the consolidated statement of cash flows.At the end of each interim period, the Company estimates the annual expected effective income tax rate and applies that rate to its ordinary year-to-date earnings or loss. The income tax provision or benefit related to significant, unusual, or extraordinary items, if applicable, that will be separately reported or reported net of their related tax effects are individually computed and recognized in the interim period in which they occur. In addition, the effect of changes in enacted tax laws or rates, tax status, judgment on the realizability of a beginning-of-the-year deferred tax asset in future years or unrecognized tax benefits is recognized in the interim period in which the change occurs. The computation of the annual expected effective income tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected pre-tax income (or loss) for the year, projections of the proportion of income (and/or loss) earned and taxed in foreign jurisdictions, permanent and temporary differences, and the likelihood of the realization of deferred tax assets generated in the current year. The accounting estimates used to compute the provision or benefit for income taxes may change as new events occur, more experience is acquired, additional information is obtained or the Company’s tax environment changes. To the extent that the expected annual effective income tax rate changes during a quarter, the effect of the change on prior quarters is included in income tax provision or benefit in the quarter in which the change occurs. For the three and six months ended June 30, 2022, the Company recorded an income tax benefit of $3.7 million and $9.7 million, which represents an effective income tax rate of 13% and 15%, respectively. For the three and six months ended June 30, 2022, the effective income tax rate is lower than the statutory rate of 21% due primarily to unbenefited foreign losses and tax shortfalls generated by the exercise and vesting for stock-based awards. For the three and six months ended June 30, 2021, the Company recorded an income tax benefit of $9.1 million and $18.4 million, which represents an effective income tax rate of 23% and 40%, respectively. For the three months ended June 30, 2021, the effective income tax rate is higher than the statutory rate of 21% due primarily to benefits related to a change in the annual expected effective income tax rate, partially offset by nondeductible share-based compensation expense. For the six months ended June 30, 2021, the effective income tax rate is higher than the statutory rate of 21% due primarily to excess tax benefits generated by the exercise and vesting for stock-based awards. The Company recognizes interest and, if applicable, penalties related to unrecognized tax benefits in the income tax provision. Accruals for interest are not material and there are currently no accruals for penalties. At June 30, 2022 and December 31, 2021, the Company has unrecognized tax benefits of $6.7 million and $6.3 million, respectively; all of which are for tax positions included in IAC’s consolidated tax return filings. If unrecognized tax benefits at June 30, 2022 are subsequently recognized, the income tax provision would be reduced by $6.4 million. The comparable amount as of December 31, 2021 is $6.0 million. The Company regularly assesses the realizability of deferred tax assets considering all available evidence including, to the extent applicable, the nature, frequency and severity of prior cumulative losses, forecasts of future taxable income, tax filing status, the duration of statutory carryforward periods, available tax planning and historical experience. At June 30, 2022, the Company has a U.S. gross deferred tax asset of $223.4 million that the Company expects to fully utilize on a more likely than not basis. Of this amount, $49.7 million will be utilized upon the future reversal of deferred tax liabilities and the remaining net deferred tax asset of $173.7 million will be utilized based on forecasts of future taxable income. The Company’s most significant net deferred tax asset relates to U.S. federal net operating loss (“NOL”) carryforwards of $124.7 million. The Company expects to generate sufficient future taxable income of at least $593.7 million prior to the expiration of these NOLs,

FINANCIAL INSTRUMENTS AND FAIR

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Marketable Debt Securities The Company did not hold any available-for-sale marketable debt securities at June 30, 2022 and December 31, 2021. Fair Value Measurements The Company categorizes its financial instruments measured at fair value into a fair value hierarchy that prioritizes the inputs used in pricing the asset or liability. The three levels of the fair value hierarchy are: • Level 1: Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets. • Level 2: Other inputs, which are observable directly or indirectly, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices for identical or similar assets or liabilities in markets that are not active and inputs that are derived principally from or corroborated by observable market data. The fair values of the Company’s Level 2 financial assets are primarily obtained from observable market prices for identical underlying securities that may not be actively traded. Certain of these securities may have different market prices from multiple market data sources, in which case an average market price is used. • Level 3: Unobservable inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information available in the circumstances, about the assumptions market participants would use in pricing the assets or liabilities. The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis: June 30, 2022 Quoted Market Prices for Identical Assets in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Total (In thousands) Assets: Cash equivalents: Money market funds $ 225,464 $ — $ — $ 225,464 Total $ 225,464 $ — $ — $ 225,464 December 31, 2021 Quoted Market Prices for Identical Assets in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Total (In thousands) Assets: Cash equivalents: Money market funds $ 280,052 $ — $ — $ 280,052 Total $ 280,052 $ — $ — $ 280,052 Assets measured at fair value on a nonrecurring basis The Company’s non-financial assets, such as goodwill, intangible assets, ROU assets, capitalized software, leasehold improvements and equipment are adjusted to fair value only when an impairment is recognized. Such fair value measurements are based predominantly on Level 3 inputs. During the three months ended June 30, 2022, the Company recorded $2.3 million in impairment charges on ROU assets, leasehold improvements, and furniture and equipment. Impairment expense was determined by comparing the carrying value of each asset group related to each office space vacated to the estimated fair market value of cash inflows directly associated with each office space. Based on this analysis, if the carrying amount of the asset group is greater than the estimated future undiscounted cash flows, an impairment charge is recognized, measured as the amount by which the carrying amount exceeds the fair value of the asset. Financial instruments measured at fair value only for disclosure purposes The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes: June 30, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value (In thousands) Long-term debt, net (a) $ (494,913) $ (382,050) $ (494,552) $ (486,875) ________________________ (a) At June 30, 2022 and December 31, 2021, the carrying value of long-term debt, net includes unamortized debt issuance costs of $5.1 million and $5.4 million, respectively . The fair value of long-term debt is estimated using observable market prices or indices for similar liabilities, which are Level 2 inputs.

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt consists of: June 30, 2022 December 31, 2021 (In thousands) 3.875% ANGI Group Senior Notes due August 15, 2028 (“ANGI Group Senior Notes”); interest payable each February 15 and August 15, which commenced February 15, 2021 $ 500,000 $ 500,000 Total long-term debt 500,000 500,000 Less: unamortized debt issuance costs 5,087 5,448 Total long-term debt, net $ 494,913 $ 494,552 ANGI Group Senior Notes The indenture governing the ANGI Group Senior Notes contains a covenant that would limit ANGI Group’s ability to incur liens for borrowed money in the event a default has occurred or ANGI Group’s secured leverage ratio exceeds 3.75 to 1.0, provided that ANGI Group is permitted to incur such liens under certain permitted credit facilities indebtedness notwithstanding the ratio, all as defined in the indenture. At June 30, 2022, there were no limitations pursuant thereto. ANGI Group Revolving Facility The $250 million ANGI Group Revolving Facility, which otherwise would have expired on November 5, 2023, was terminated effective August 3, 2021. No amounts were ever drawn under the ANGI Group Revolving Facility prior to its termination. ANGI Group Term Loan

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOMEThe following tables presents the components of accumulated other comprehensive (loss) income and items reclassified out of accumulated other comprehensive (loss) income into earnings: Three Months Ended June 30, 2022 2021 Foreign Accumulated Other Comprehensive (Loss) Income Foreign Accumulated Other Comprehensive Income (In thousands) Balance at April 1 $ 2,506 $ 2,506 $ 4,623 $ 4,623 Other comprehensive (loss) income (2,899) (2,899) 1,350 1,350 Balance at June 30 $ (393) $ (393) $ 5,973 $ 5,973 Six Months Ended June 30, 2022 2021 Foreign Accumulated Other Comprehensive (Loss) Income Foreign Accumulated Other Comprehensive Income (In thousands) Balance at January 1 $ 3,309 $ 3,309 $ 4,637 $ 4,637 Other comprehensive (loss) income (3,702) (3,702) 1,336 1,336 Balance at June 30 $ (393) $ (393) $ 5,973 $ 5,973 At both June 30, 2022 and 2021, there was no tax benefit or provision on the accumulated other comprehensive (loss) income.

(LOSS) EARNINGS PER SHARE

(LOSS) EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
(LOSS) EARNINGS PER SHARE	(LOSS) EARNINGS PER SHAREThe following table sets forth the computation of basic and diluted (loss) earnings per share attributable to Angi Inc. Class A and Class B Common Stock shareholders: Three Months Ended June 30, 2022 2021 Basic Diluted Basic Diluted (In thousands, except per share data) Numerator: Net loss $ (23,997) $ (23,997) $ (30,052) $ (30,052) Net earnings attributable to noncontrolling interests (235) (235) (241) (241) Net loss attributable to Angi Inc. Class A and Class B Common Stock shareholders $ (24,232) $ (24,232) $ (30,293) $ (30,293) Denominator: Weighted average basic Class A and Class B common stock shares outstanding 502,453 502,453 504,469 504,469 Dilutive securities (a) (b) — — — — Denominator for loss per share—weighted average shares 502,453 502,453 504,469 504,469 Loss per share attributable to Angi Inc. Class A and Class B Common Stock shareholders: Loss per share $ (0.05) $ (0.05) $ (0.06) $ (0.06) Six Months Ended June 30, 2022 2021 Basic Diluted Basic Diluted (In thousands, except per share data) Numerator: Net loss $ (57,284) $ (57,284) $ (28,038) $ (28,038) Net earnings attributable to noncontrolling interests (338) (338) (324) (324) Net loss attributable to Angi Inc. Class A and Class B Common Stock shareholders $ (57,622) $ (57,622) $ (28,362) $ (28,362) Denominator: Weighted average basic Class A and Class B common stock shares outstanding 502,231 502,231 502,577 502,577 Dilutive securities (a) (b) — — — — Denominator for loss per share—weighted average shares 502,231 502,231 502,577 502,577 Loss per share attributable to Angi Inc. Class A and Class B Common Stock shareholders: Loss per share $ (0.11) $ (0.11) $ (0.06) $ (0.06) ________________________ (a) If the effect is dilutive, weighted average common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and subsidiary denominated equity and vesting of restricted stock units (“RSUs”). For the three and six months ended June 30, 2022 and 2021, 28.7 million and 14.5 million of potentially dilutive securities, respectively, were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding were used to compute all earnings per share amounts. (b) Market-based awards and performance-based stock units (“PSUs”) are considered contingently issuable shares. Shares issuable upon exercise or vesting of market-based awards and PSUs are included in the denominator for earnings per share if (i) the applicable market or performance condition(s) has been met and (ii) the inclusion of the market-based awards and PSUs is dilutive for the respective reporting periods. For the three

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company has determined its operating segments consistent with how the chief operating decision maker views the businesses. Additionally, the Company considers how the businesses are organized as to segment management and the focus of the businesses with regards to the types of services or products offered or the target market. The following table presents revenue by reportable segment: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) Revenue: North America $ 495,814 $ 399,945 $ 906,986 $ 760,986 Europe 19,968 21,043 44,955 47,031 Total $ 515,782 $ 420,988 $ 951,941 $ 808,017 The following table presents the revenue of the Company’s segments disaggregated by type of service: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) North America Angi Ads and Leads: Consumer connection revenue (a) $ 259,037 $ 240,016 $ 471,833 $ 461,446 Advertising revenue (b) 65,085 62,608 128,861 123,355 Membership subscription revenue (c) 15,554 17,065 31,791 33,947 Other revenue 5,243 7,431 10,469 14,709 Total Angi Ads and Leads revenue 344,919 327,120 642,954 633,457 Angi Services revenue (d) 150,895 72,825 264,032 127,529 Total North America revenue 495,814 399,945 906,986 760,986 Europe Consumer connection revenue (e) 16,941 17,345 38,744 39,696 Service professional membership subscription revenue 2,738 3,331 5,628 6,659 Advertising and other revenue 289 367 583 676 Total Europe revenue 19,968 21,043 44,955 47,031 Total revenue $ 515,782 $ 420,988 $ 951,941 $ 808,017 ________________________ (a) Includes fees paid by service professionals for consumer matches through the Angi Ads and Leads platforms. (b) Includes revenue from service professionals under contract for advertising. (c) Includes membership subscription revenue from service professionals and consumers. (d) Includes revenue from pre-priced offerings and Angi Roofing. (e) Includes fees paid by service professionals for consumer matches. Geographic information about revenue and long-lived assets is presented below. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) Revenue United States $ 490,049 $ 394,538 $ 895,557 $ 750,982 All other countries 25,733 26,450 56,384 57,035 Total $ 515,782 $ 420,988 $ 951,941 $ 808,017 June 30, 2022 December 31, 2021 (In thousands) Long-lived assets (excluding goodwill and intangible assets): United States $ 149,232 $ 111,136 All other countries 6,998 7,131 Total $ 156,230 $ 118,267 The following tables present operating loss and Adjusted EBITDA by reportable segment: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) Operating loss: North America $ (20,056) $ (32,127) $ (49,710) $ (22,550) Europe (830) (604) (5,133) (10,072) Total $ (20,886) $ (32,731) $ (54,843) $ (32,622) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) Adjusted EBITDA (f) : North America $ 10,019 $ (5,302) $ 10,360 $ 25,863 Europe $ (330) $ 860 $ (3,840) $ (7,119) (f) The Company’s primary financial measure is Adjusted EBITDA, which is defined as operating 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. The following tables reconcile operating loss for the Company’s reportable segments and net loss attributable to Angi Inc. shareholders to Adjusted EBITDA: Three Months Ended June 30, 2022 Operating Loss Stock-Based Depreciation Amortization Adjusted (In thousands) North America $ (20,056) $ 13,439 $ 12,832 $ 3,804 $ 10,019 Europe (830) $ (22) $ 522 $ — $ (330) Operating loss (20,886) Interest expense (5,026) Other expense, net (1,750) Loss before income taxes (27,662) Income tax benefit 3,665 Net loss (23,997) Net earnings attributable to noncontrolling interests (235) Net loss attributable to Angi Inc. shareholders $ (24,232) Three Months Ended June 30, 2021 Operating Loss Stock-Based Depreciation Amortization Adjusted (In thousands) North America $ (32,127) $ 9,455 $ 13,682 $ 3,688 $ (5,302) Europe (604) $ 88 $ 1,376 $ — $ 860 Operating loss (32,731) Interest expense (5,814) Other income, net (636) Loss before income taxes (39,181) Income tax benefit 9,129 Net earnings (30,052) Net earnings attributable to noncontrolling interests (241) Net earnings attributable to Angi Inc. shareholders $ (30,293) Six Months Ended June 30, 2022 Operating Loss Stock-Based Depreciation Amortization Adjusted (In thousands) North America $ (49,710) $ 26,433 $ 26,029 $ 7,608 $ 10,360 Europe (5,133) $ (31) $ 1,324 $ — $ (3,840) Operating loss (54,843) Interest expense (10,048) Other expense, net (2,141) Loss before income taxes (67,032) Income tax benefit 9,748 Net loss (57,284) Net earnings attributable to noncontrolling interests (338) Net loss attributable to Angi Inc. shareholders $ (57,622) Six Months Ended June 30, 2021 Operating Loss Stock-Based Depreciation Amortization Adjusted (In thousands) North America $ (22,550) $ 11,391 $ 28,260 $ 8,762 $ 25,863 Europe (10,072) $ 186 $ 2,767 $ — $ (7,119) Operating loss (32,622) Interest expense (12,431) Other income, net (1,403) Loss before income taxes (46,456) Income tax benefit 18,418 Net earnings (28,038) Net earnings attributable to noncontrolling interests (324) Net earnings attributable to Angi Inc. shareholders $ (28,362)

CONSOLIDATED FINANCIAL STATEMEN

CONSOLIDATED FINANCIAL STATEMENT DETAILS	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CONSOLIDATED FINANCIAL STATEMENT DETAILS	CONSOLIDATED FINANCIAL STATEMENT DETAILS Cash and Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying balance sheet to the total amounts shown in the accompanying statement of cash flows: June 30, 2022 December 31, 2021 June 30, 2021 December 31, 2020 (In thousands) Cash and cash equivalents $ 360,950 $ 428,136 $ 584,260 $ 812,705 Restricted cash included in other current assets 130 156 236 407 Restricted cash included in other non-current assets 870 1,193 730 449 Total cash and cash equivalents, and restricted cash as shown on the consolidated statement of cash flows $ 361,950 $ 429,485 $ 585,226 $ 813,561 Restricted cash included in other current assets at June 30, 2022 primarily consisted of cash reserved to fund insurance claims. Restricted cash included in other current assets at December 31, 2021, June 30, 2021 and December 31, 2020 consisted of cash reserved to fund insurance claims and cash received from customers through the marketplace platforms, representing funds collected for payments to service providers, which were not settled as of the period end. Restricted cash included in other non-current assets for all periods presented above primarily consisted of deposits related to leases. Restricted cash included in other non-current assets at June 30, 2022 and December 31, 2021 also included cash held related to a check endorsement guarantee for Angi Roofing. Credit Losses and Revenue Reserve The following table presents the changes in the credit loss reserve for the six months ended June 30, 2022 and 2021: 2022 2021 (In thousands) Balance at January 1 $ 33,652 $ 26,046 Current period provision for credit losses 47,926 42,731 Write-offs charged against the credit loss reserve (40,764) (37,051) Recoveries collected 2,709 1,351 Balance at June 30 $ 43,523 $ 33,077 The revenue reserve was $2.8 million and $2.8 million at June 30, 2022 and 2021, respectively. The total allowance for credit losses and revenue reserve was $46.3 million and $35.9 million as of June 30, 2022 and 2021, respectively. Accumulated Amortization and Depreciation The following table provides the accumulated amortization and depreciation within the consolidated balance sheet: Asset Category June 30, 2022 December 31, 2021 (In thousands) Right-of-use assets (included in “other non-current assets”) $ 50,330 $ 40,757 Capitalized software, leasehold improvements, and equipment $ 128,114 $ 108,235 Intangible assets $ 165,582 $ 159,356 Other expense, net Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Interest income $ 515 $ 50 $ 579 $ 147 Foreign exchange (losses) gains (2,264) 407 (2,720) (453) Loss on extinguishment of debt (a) — (1,110) — (1,110) Gain (loss) from acquisition/sale of a business — 17 — 13 Other (1) — — — Other expense, net $ (1,750) $ (636) $ (2,141) $ (1,403) ________________________ (a)

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES In the ordinary course of business, the Company is a party to various lawsuits. The Company establishes an estimated liability for specific legal matters when it determines that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable. As of June 30, 2022, a $4.1 million legal liability was recorded, and while the Company does not expect the ultimate resolution of these matters, individually or in the aggregate, to be material, charges in excess of the established $4.1 million legal liability already recorded could be recorded in the future, which may have a material adverse effect on the Company’s financial position, results of operations or liquidity. Management has also identified certain other legal matters where we believe an unfavorable outcome is not probable. Although management currently believes that resolving claims against us, including claims where an unfavorable outcome is reasonably possible, will not have a material impact on the liquidity, results of operations, or financial condition of the Company, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. The Company also evaluates other contingent matters, including income and non-income tax contingencies, to assess the likelihood of an unfavorable outcome and estimated extent of potential loss. It is possible that an unfavorable outcome of one or more of these lawsuits or other contingencies could have a material impact on the liquidity, results of operations, or financial condition of the Company. See “ Note 2—Income Taxes ” for additional information related to income tax contingencies.

RELATED PARTY TRANSACTIONS WITH

RELATED PARTY TRANSACTIONS WITH IAC	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS WITH IAC	RELATED PARTY TRANSACTIONS WITH IACAngi and IAC have entered into certain agreements to govern their relationship. These agreements include: a contribution agreement; an investor rights agreement; a services agreement; a tax sharing agreement; and an employee matters agreement. For the three and six months ended June 30, 2022 and 2021, the Company was charged $0.9 million and $1.3 million, and $1.2 million and $2.3 million, respectively, by IAC for services rendered pursuant to the services agreement. There were no outstanding receivables or payables pursuant to the services agreement at June 30, 2022 and December 31, 2021.Additionally, the Company subleases office space to IAC and charged IAC $0.4 million and $0.8 million, and $0.4 million and $0.8 million of rent for the three and six months ended June 30, 2022 and 2021, respectively. IAC subleases office space to the Company and charged the Company $0.3 million and $0.6 million of rent for the three and six months ended June 30, 2022. At June 30, 2022 and December 31, 2021, there were no outstanding receivables or payables pursuant to the sublease agreements.At June 30, 2022 and December 31, 2021, the Company had outstanding payables of $1.1 million and $0.3 million, respectively, due to IAC pursuant to the tax sharing agreement, which are included in “Accrued expenses and other current liabilities,” in the accompanying consolidated balance sheet. There were no payments to or refunds from IAC pursuant to this agreement during the three and six months ended June 30, 2022 and 2021.For the three and six months ended June 30, 2022, no shares of Angi Inc. Class B common stock were issued to IAC pursuant to the employee matters agreement as reimbursement for shares of IAC common stock issued in connection with the exercise and vesting of IAC equity awards held by Angi Inc. employees. For the three and six months ended June 30, 2021, less than 0.1 million and 0.1 million shares, respectively, of Angi Inc. Class B common stock were issued to IAC pursuant to the employee matters agreement. For the three and six months ended June 30, 2022, no shares of Angi Inc. Class A common stock were issued to IAC pursuant to the employee matters agreement as reimbursement for IAC common stock issued in connection with the exercise and settlement of certain Angi Inc. stock appreciation rights. For the three and six months ended June 30, 2021, less than 0.1 million and 2.6 million shares, respectively, of Angi Inc. Class A common stock were issued to IAC pursuant to the employee matters agreement.

THE COMPANY AND SUMMARY OF SI_2

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Angi Inc. (“Angi,” the “Company,” “we,” “our,” or “us”) connects quality home service professionals with consumers across more than 500 different categories, from repairing and remodeling homes to cleaning and landscaping. Over 256,000 domestic service professionals actively sought consumer matches, completed jobs, or advertised work through Angi platforms during the three months ended June 30, 2022. Additionally, consumers turned to at least one of our brands to find a service professional for approximately 31 million projects during the twelve months ended June 30, 2022. The Company has two operating segments: (i) North America (United States and Canada), which includes Angi Ads, Angi Leads, and Angi Services; and (ii) Europe. In March 2021, the Company rebranded its North American brands which operate as follows: Angi Ads operates under the Angi brand, Angi Leads operates primarily under the HomeAdvisor, powered by Angi brand, and Angi Services operates primarily under the Handy and Angi Roofing brands. As used herein, “Angi,” the “Company,” “we,” “our,” “us,” and similar terms refer to Angi Inc. and its subsidiaries (unless the context requires otherwise). At June 30, 2022, IAC/InterActiveCorp (“IAC”) owned 84.5% and 98.2% of the economic interest and voting interest, respectively, of the Company.
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The Company prepares its consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The consolidated financial statements include the accounts of the Company, all entities that are wholly-owned by the Company and all entities in which the Company has a controlling financial interest. All intercompany transactions and balances between and among the Company and its subsidiaries have been eliminated. All intercompany transactions between (i) Angi and (ii) IAC and its subsidiaries are considered to be effectively settled for cash at the time the transaction is recorded. See “ Note 10—Related Party Transactions with IAC ” for additional information on transactions between Angi and IAC. The Company is included within IAC’s tax group for purposes of federal and consolidated state income tax return filings. For the purpose of these financial statements, income taxes have been computed on an as if standalone, separate return basis. Any differences between taxes currently payable to or receivable from IAC under the tax sharing agreement between the Company and IAC and the current tax provision computed on an as if standalone, separate return basis for GAAP are reflected as adjustments to additional paid-in capital and as financing activities within the statement of cash flows. In management's opinion, the unaudited interim consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, consisting of normal and recurring adjustments, necessary for the fair presentation of the Company's consolidated financial position, consolidated results of operations and consolidated cash flows for the periods presented. Interim results are not necessarily indicative of the results that may be expected for the full year. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021.
Accounting Estimates	Accounting Estimates Management of the Company is required to make certain estimates, judgments, and assumptions during the preparation of its consolidated financial statements in accordance with GAAP. These estimates, judgments, and assumptions impact the reported amounts of assets, liabilities, revenue, and expenses and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates. On an ongoing basis, the Company evaluates its estimates and judgments, including those related to: the fair values of cash equivalents and marketable debt securities; the carrying value of accounts receivable, including the determination of the allowance for credit losses and the determination of revenue reserves; the determination of the customer relationship period for certain costs to obtain a contract with a customer; the carrying value of right-of-use assets (“ROU assets”); the useful lives and recoverability of definite-lived intangible assets and capitalized software, leasehold improvements, and equipment; the recoverability of goodwill and indefinite-lived intangible assets; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the fair value of and forfeiture rates for stock-based awards, among others. The Company bases its estimates and judgments on historical experience, its forecasts and budgets, and other factors that the Company considers relevant.
General Revenue Recognition	General Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to the Company’s customers and in the amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company’s disaggregated revenue disclosures are presented in “ Note 7—Segment Information .” Deferred Revenue Deferred revenue consists of payments that are received or are contractually due in advance of the Company’s performance obligation. The Company’s deferred revenue is reported on a contract-by-contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the remaining term of the applicable subscription period or expected completion of its performance obligation is one year or less. At December 31, 2021, the current and non-current deferred revenue balances were $53.8 million and $0.1 million, respectively, and during the six months ended June 30, 2022, the Company recognized $45.8 million of revenue that was included in the deferred revenue balance as of December 31, 2021. At December 31, 2020, the current and non-current deferred revenue balances were $54.7 million and $0.2 million, respectively, and during the six months ended June 30, 2021, the Company recognized $46.0 million of revenue that was included in the deferred revenue balance as of December 31, 2020. The current and non-current deferred revenue balances at June 30, 2022 are $56.9 million and less than $0.1 million, respectively. Non-current deferred revenue is included in “Other long-term liabilities” in the accompanying consolidated balance sheet. Practical Expedients and Exemptions As permitted under the practical expedient available under Accounting Standard Codification (“ASC”) 606, Revenue from Contracts with Customers , the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise accounted for under the series guidance, and (iii) contracts for which the Company recognizes revenue at the amount which the Company has the right to invoice for services performed. Commissions Paid to Employees Pursuant to Sales Incentive Programs The Company has determined that commissions paid to employees pursuant to certain sales incentive programs meet the requirements to be capitalized as the incremental costs to obtain a contract with a customer. When customer renewals are expected and the renewal commission is not commensurate with the initial commission, the average customer life includes renewal periods. Capitalized commissions paid to employees pursuant to these sales incentive programs are amortized over the estimated customer relationship period and are included in “Selling and marketing expense” in the accompanying statement of operations. The Company calculates the anticipated customer relationship period as the average customer life, which is based on historical data. For sales incentive programs where the anticipated customer relationship period is one year or less, the Company has elected the practical expedient to expense the commissions as incurred. Assets Recognized from the Costs to Obtain a Contract with a Customer The Company uses a portfolio approach to assess the accounting treatment of the incremental costs to obtain a contract with a customer. The Company recognizes an asset for these costs if we expect to recover those costs. To the extent that these costs are capitalized, the resultant asset is amortized on a systematic basis consistent with the pattern of the transfer of the services to which the asset relates. The current contract assets are $47.6 million and $38.0 million at June 30, 2022 and December 31, 2021, respectively. The non-current assets are $1.0 million and $1.1 million at June 30, 2022 and December 31, 2021, respectively. The current and non-current capitalized costs to obtain a contract with a customer are included in “Other current assets” and “Other non-current assets” in the accompanying balance sheet.
Recent Accounting Pronouncements	Recent Accounting Pronouncements There are no recently issued accounting pronouncements adopted or that have not yet been adopted by the Company that are expected to have a material effect on the results of operations, financial condition, or cash flows of the Company.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.

FINANCIAL INSTRUMENTS AND FAI_2

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis: June 30, 2022 Quoted Market Prices for Identical Assets in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Total (In thousands) Assets: Cash equivalents: Money market funds $ 225,464 $ — $ — $ 225,464 Total $ 225,464 $ — $ — $ 225,464 December 31, 2021 Quoted Market Prices for Identical Assets in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Total (In thousands) Assets: Cash equivalents: Money market funds $ 280,052 $ — $ — $ 280,052 Total $ 280,052 $ — $ — $ 280,052
Schedule of Carrying Value and Fair Value of Financial Instruments	The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes: June 30, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value (In thousands) Long-term debt, net (a) $ (494,913) $ (382,050) $ (494,552) $ (486,875) ________________________ (a) At June 30, 2022 and December 31, 2021, the carrying value of long-term debt, net includes unamortized debt issuance costs of $5.1 million and $5.4 million, respectively .

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of: June 30, 2022 December 31, 2021 (In thousands) 3.875% ANGI Group Senior Notes due August 15, 2028 (“ANGI Group Senior Notes”); interest payable each February 15 and August 15, which commenced February 15, 2021 $ 500,000 $ 500,000 Total long-term debt 500,000 500,000 Less: unamortized debt issuance costs 5,087 5,448 Total long-term debt, net $ 494,913 $ 494,552

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	The following tables presents the components of accumulated other comprehensive (loss) income and items reclassified out of accumulated other comprehensive (loss) income into earnings: Three Months Ended June 30, 2022 2021 Foreign Accumulated Other Comprehensive (Loss) Income Foreign Accumulated Other Comprehensive Income (In thousands) Balance at April 1 $ 2,506 $ 2,506 $ 4,623 $ 4,623 Other comprehensive (loss) income (2,899) (2,899) 1,350 1,350 Balance at June 30 $ (393) $ (393) $ 5,973 $ 5,973 Six Months Ended June 30, 2022 2021 Foreign Accumulated Other Comprehensive (Loss) Income Foreign Accumulated Other Comprehensive Income (In thousands) Balance at January 1 $ 3,309 $ 3,309 $ 4,637 $ 4,637 Other comprehensive (loss) income (3,702) (3,702) 1,336 1,336 Balance at June 30 $ (393) $ (393) $ 5,973 $ 5,973

(LOSS) EARNINGS PER SHARE (Tabl

(LOSS) EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted (Loss) Earnings per Share	The following table sets forth the computation of basic and diluted (loss) earnings per share attributable to Angi Inc. Class A and Class B Common Stock shareholders: Three Months Ended June 30, 2022 2021 Basic Diluted Basic Diluted (In thousands, except per share data) Numerator: Net loss $ (23,997) $ (23,997) $ (30,052) $ (30,052) Net earnings attributable to noncontrolling interests (235) (235) (241) (241) Net loss attributable to Angi Inc. Class A and Class B Common Stock shareholders $ (24,232) $ (24,232) $ (30,293) $ (30,293) Denominator: Weighted average basic Class A and Class B common stock shares outstanding 502,453 502,453 504,469 504,469 Dilutive securities (a) (b) — — — — Denominator for loss per share—weighted average shares 502,453 502,453 504,469 504,469 Loss per share attributable to Angi Inc. Class A and Class B Common Stock shareholders: Loss per share $ (0.05) $ (0.05) $ (0.06) $ (0.06) Six Months Ended June 30, 2022 2021 Basic Diluted Basic Diluted (In thousands, except per share data) Numerator: Net loss $ (57,284) $ (57,284) $ (28,038) $ (28,038) Net earnings attributable to noncontrolling interests (338) (338) (324) (324) Net loss attributable to Angi Inc. Class A and Class B Common Stock shareholders $ (57,622) $ (57,622) $ (28,362) $ (28,362) Denominator: Weighted average basic Class A and Class B common stock shares outstanding 502,231 502,231 502,577 502,577 Dilutive securities (a) (b) — — — — Denominator for loss per share—weighted average shares 502,231 502,231 502,577 502,577 Loss per share attributable to Angi Inc. Class A and Class B Common Stock shareholders: Loss per share $ (0.11) $ (0.11) $ (0.06) $ (0.06) ________________________ (a) If the effect is dilutive, weighted average common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and subsidiary denominated equity and vesting of restricted stock units (“RSUs”). For the three and six months ended June 30, 2022 and 2021, 28.7 million and 14.5 million of potentially dilutive securities, respectively, were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding were used to compute all earnings per share amounts. (b) Market-based awards and performance-based stock units (“PSUs”) are considered contingently issuable shares. Shares issuable upon exercise or vesting of market-based awards and PSUs are included in the denominator for earnings per share if (i) the applicable market or performance condition(s) has been met and (ii) the inclusion of the market-based awards and PSUs is dilutive for the respective reporting periods. For the three

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following table presents revenue by reportable segment: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) Revenue: North America $ 495,814 $ 399,945 $ 906,986 $ 760,986 Europe 19,968 21,043 44,955 47,031 Total $ 515,782 $ 420,988 $ 951,941 $ 808,017 The following tables present operating loss and Adjusted EBITDA by reportable segment: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) Operating loss: North America $ (20,056) $ (32,127) $ (49,710) $ (22,550) Europe (830) (604) (5,133) (10,072) Total $ (20,886) $ (32,731) $ (54,843) $ (32,622) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) Adjusted EBITDA (f) : North America $ 10,019 $ (5,302) $ 10,360 $ 25,863 Europe $ (330) $ 860 $ (3,840) $ (7,119) (f) The Company’s primary financial measure is Adjusted EBITDA, which is defined as operating 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.
Schedule of Segmented Revenue Disaggregated by Service	The following table presents the revenue of the Company’s segments disaggregated by type of service: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) North America Angi Ads and Leads: Consumer connection revenue (a) $ 259,037 $ 240,016 $ 471,833 $ 461,446 Advertising revenue (b) 65,085 62,608 128,861 123,355 Membership subscription revenue (c) 15,554 17,065 31,791 33,947 Other revenue 5,243 7,431 10,469 14,709 Total Angi Ads and Leads revenue 344,919 327,120 642,954 633,457 Angi Services revenue (d) 150,895 72,825 264,032 127,529 Total North America revenue 495,814 399,945 906,986 760,986 Europe Consumer connection revenue (e) 16,941 17,345 38,744 39,696 Service professional membership subscription revenue 2,738 3,331 5,628 6,659 Advertising and other revenue 289 367 583 676 Total Europe revenue 19,968 21,043 44,955 47,031 Total revenue $ 515,782 $ 420,988 $ 951,941 $ 808,017 ________________________ (a) Includes fees paid by service professionals for consumer matches through the Angi Ads and Leads platforms. (b) Includes revenue from service professionals under contract for advertising. (c) Includes membership subscription revenue from service professionals and consumers. (d) Includes revenue from pre-priced offerings and Angi Roofing. (e) Includes fees paid by service professionals for consumer matches.
Schedule of Revenue by Geographic Areas	Geographic information about revenue and long-lived assets is presented below. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In thousands) Revenue United States $ 490,049 $ 394,538 $ 895,557 $ 750,982 All other countries 25,733 26,450 56,384 57,035 Total $ 515,782 $ 420,988 $ 951,941 $ 808,017
Schedule of Long-lived Assets by Geographic Areas	June 30, 2022 December 31, 2021 (In thousands) Long-lived assets (excluding goodwill and intangible assets): United States $ 149,232 $ 111,136 All other countries 6,998 7,131 Total $ 156,230 $ 118,267
Schedule of Reconciliation of Adjusted EBITDA to Operating Income (Loss)	The following tables reconcile operating loss for the Company’s reportable segments and net loss attributable to Angi Inc. shareholders to Adjusted EBITDA: Three Months Ended June 30, 2022 Operating Loss Stock-Based Depreciation Amortization Adjusted (In thousands) North America $ (20,056) $ 13,439 $ 12,832 $ 3,804 $ 10,019 Europe (830) $ (22) $ 522 $ — $ (330) Operating loss (20,886) Interest expense (5,026) Other expense, net (1,750) Loss before income taxes (27,662) Income tax benefit 3,665 Net loss (23,997) Net earnings attributable to noncontrolling interests (235) Net loss attributable to Angi Inc. shareholders $ (24,232) Three Months Ended June 30, 2021 Operating Loss Stock-Based Depreciation Amortization Adjusted (In thousands) North America $ (32,127) $ 9,455 $ 13,682 $ 3,688 $ (5,302) Europe (604) $ 88 $ 1,376 $ — $ 860 Operating loss (32,731) Interest expense (5,814) Other income, net (636) Loss before income taxes (39,181) Income tax benefit 9,129 Net earnings (30,052) Net earnings attributable to noncontrolling interests (241) Net earnings attributable to Angi Inc. shareholders $ (30,293) Six Months Ended June 30, 2022 Operating Loss Stock-Based Depreciation Amortization Adjusted (In thousands) North America $ (49,710) $ 26,433 $ 26,029 $ 7,608 $ 10,360 Europe (5,133) $ (31) $ 1,324 $ — $ (3,840) Operating loss (54,843) Interest expense (10,048) Other expense, net (2,141) Loss before income taxes (67,032) Income tax benefit 9,748 Net loss (57,284) Net earnings attributable to noncontrolling interests (338) Net loss attributable to Angi Inc. shareholders $ (57,622) Six Months Ended June 30, 2021 Operating Loss Stock-Based Depreciation Amortization Adjusted (In thousands) North America $ (22,550) $ 11,391 $ 28,260 $ 8,762 $ 25,863 Europe (10,072) $ 186 $ 2,767 $ — $ (7,119) Operating loss (32,622) Interest expense (12,431) Other income, net (1,403) Loss before income taxes (46,456) Income tax benefit 18,418 Net earnings (28,038) Net earnings attributable to noncontrolling interests (324) Net earnings attributable to Angi Inc. shareholders $ (28,362)

CONSOLIDATED FINANCIAL STATEM_2

CONSOLIDATED FINANCIAL STATEMENT DETAILS (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying balance sheet to the total amounts shown in the accompanying statement of cash flows: June 30, 2022 December 31, 2021 June 30, 2021 December 31, 2020 (In thousands) Cash and cash equivalents $ 360,950 $ 428,136 $ 584,260 $ 812,705 Restricted cash included in other current assets 130 156 236 407 Restricted cash included in other non-current assets 870 1,193 730 449 Total cash and cash equivalents, and restricted cash as shown on the consolidated statement of cash flows $ 361,950 $ 429,485 $ 585,226 $ 813,561
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying balance sheet to the total amounts shown in the accompanying statement of cash flows: June 30, 2022 December 31, 2021 June 30, 2021 December 31, 2020 (In thousands) Cash and cash equivalents $ 360,950 $ 428,136 $ 584,260 $ 812,705 Restricted cash included in other current assets 130 156 236 407 Restricted cash included in other non-current assets 870 1,193 730 449 Total cash and cash equivalents, and restricted cash as shown on the consolidated statement of cash flows $ 361,950 $ 429,485 $ 585,226 $ 813,561
Schedule of Allowance for Credit Loss	The following table presents the changes in the credit loss reserve for the six months ended June 30, 2022 and 2021: 2022 2021 (In thousands) Balance at January 1 $ 33,652 $ 26,046 Current period provision for credit losses 47,926 42,731 Write-offs charged against the credit loss reserve (40,764) (37,051) Recoveries collected 2,709 1,351 Balance at June 30 $ 43,523 $ 33,077
Schedule of Accumulated Amortization and Depreciation	The following table provides the accumulated amortization and depreciation within the consolidated balance sheet: Asset Category June 30, 2022 December 31, 2021 (In thousands) Right-of-use assets (included in “other non-current assets”) $ 50,330 $ 40,757 Capitalized software, leasehold improvements, and equipment $ 128,114 $ 108,235 Intangible assets $ 165,582 $ 159,356
Schedule of Other Expense, Net	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Interest income $ 515 $ 50 $ 579 $ 147 Foreign exchange (losses) gains (2,264) 407 (2,720) (453) Loss on extinguishment of debt (a) — (1,110) — (1,110) Gain (loss) from acquisition/sale of a business — 17 — 13 Other (1) — — — Other expense, net $ (1,750) $ (636) $ (2,141) $ (1,403) ________________________ (a)

THE COMPANY AND SUMMARY OF SI_3

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands, project in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) project segment professional category	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Noncontrolling Interest [Line Items]
Number of service categories (more than) | category	500
Number of domestic service professionals (over) | professional	256,000
Number of projects | project	31
Number of operating segments | segment	2
Current deferred revenue	$ 56,940		$ 53,834	$ 54,700
Non-current deferred revenue	100		100	$ 200
Deferred revenue recognized	45,800	$ 46,000
Current contract assets	47,600		38,000
Non-current contract assets	$ 1,000		$ 1,100
Angi | IAC
Noncontrolling Interest [Line Items]
Economic interest (as a percent)	84.50%
Voting interest (as a percent)	98.20%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax benefit	$ 3,665	$ 9,129	$ 9,748	$ 18,418
Effective income tax rate (as a percent)	13%	23%	15%	40%
Unrecognized tax benefits including tax interest accrued	$ 6,700		$ 6,700		$ 6,300
Unrecognized tax benefits that if subsequently recognized would reduce income tax expense	6,400		6,400		$ 6,000
Deferred tax assets	223,400		223,400
Portion of deferred tax assets that will be utilized upon future reversal of deferred tax liabilities	49,700		49,700
Portion of deferred tax assets that will be utilized based on forecasts of future taxable income	173,700		173,700
Deferred tax assets, U.S. federal operating loss carryforwards	$ 124,700		124,700
Future taxable income			$ 593,700

FINANCIAL INSTRUMENTS AND FAI_3

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Marketable debt securities	$ 0	$ 0		$ 0
Impairment of long-lived and right-of-use assets	$ 2,300,000	$ 2,195,000	$ 12,280,000

FINANCIAL INSTRUMENTS AND FAI_4

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets:
Cash equivalents	$ 225,464	$ 280,052
Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents	225,464	280,052
Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	0	0
Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	0	0
Money market funds
Assets:
Cash equivalents	225,464	280,052
Money market funds | Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents	225,464	280,052
Money market funds | Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	0	0
Money market funds | Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$ 0	$ 0

FINANCIAL INSTRUMENTS AND FAI_5

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Carrying Value
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net	$ (494,913)	$ (494,552)
Unamortized debt issuance costs	5,100	5,400
Fair Value
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net	$ (382,050)	$ (486,875)

LONG-TERM DEBT - Summary (Detai

LONG-TERM DEBT - Summary (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument
Total long-term debt	$ 500,000	$ 500,000
Less: unamortized debt issuance costs	5,087	5,448
Total long-term debt, net	494,913	494,552
3.875% Senior Notes | Senior Notes
Debt Instrument
Total long-term debt	$ 500,000	$ 500,000
Interest rate, stated percentage	3.875%

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details) $ in Millions	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
ANGI Group Credit Facility | Revolving Credit Facility
Debt Instrument
Maximum borrowing capacity of credit facility	$ 250
Senior Notes | 3.875% Senior Notes
Debt Instrument
Leverage ratio, maximum	3.75
Loans Payable | ANGI Group Term Loan due November 5, 2023 (“ANGI Group Term Loan”)
Debt Instrument
Prepaid debt principal payments		$ 220

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period			$ 1,134,619,000
Balance at end of period	$ 1,088,895,000		1,088,895,000
Income tax provision (benefit)			0	$ 0
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	2,506,000	$ 4,623,000	3,309,000	4,637,000
Other comprehensive (loss) income	(2,899,000)	1,350,000	(3,702,000)	1,336,000
Balance at end of period	(393,000)	5,973,000	(393,000)	5,973,000
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	2,506,000	4,623,000	3,309,000	4,637,000
Other comprehensive (loss) income	(2,899,000)	1,350,000	(3,702,000)	1,336,000
Balance at end of period	$ (393,000)	$ 5,973,000	$ (393,000)	$ 5,973,000

(LOSS) EARNINGS PER SHARE - Sum

(LOSS) EARNINGS PER SHARE - Summary (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss	$ (23,997)	$ (30,052)	$ (57,284)	$ (28,038)
Net earnings attributable to noncontrolling interests	(235)	(241)	(338)	(324)
Net loss attributable to Angi Inc. shareholders	$ (24,232)	$ (30,293)	$ (57,622)	$ (28,362)
Weighted average basic Class A and Class B common stock shares outstanding, basic (shares)	502,453	504,469	502,231	502,577
Dilutive securities (shares)	0	0	0	0
Denominator for loss per share - weighted average shares, diluted (shares)	502,453	504,469	502,231	502,577
Loss per share attributable to Angi Inc. Class A and Class B Common Stock shareholders:
Loss per share, basic (USD per share)	$ (0.05)	$ (0.06)	$ (0.11)	$ (0.06)
Loss per share, diluted (USD per share)	$ (0.05)	$ (0.06)	$ (0.11)	$ (0.06)
Stock Options and Subsidiary Denominated Equity and Vesting of Restricted Common Stock, Restricted Stock Units (RSU's)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from calculation of diluted earnings per share (shares)	28,700	14,500	28,700	14,500
Market-based Awards and PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from calculation of diluted earnings per share (shares)	4,400	3,700	4,400	3,700

SEGMENT INFORMATION - Revenue b

SEGMENT INFORMATION - Revenue by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 515,782	$ 420,988	$ 951,941	$ 808,017
North America
Segment Reporting Information [Line Items]
Revenue	495,814	399,945	906,986	760,986
Europe
Segment Reporting Information [Line Items]
Revenue	$ 19,968	$ 21,043	$ 44,955	$ 47,031

SEGMENT INFORMATION - Revenue D

SEGMENT INFORMATION - Revenue Disaggregated by Service (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 515,782	$ 420,988	$ 951,941	$ 808,017
North America
Segment Reporting Information [Line Items]
Revenue	495,814	399,945	906,986	760,986
Europe
Segment Reporting Information [Line Items]
Revenue	19,968	21,043	44,955	47,031
Total Angi Ads and Leads revenue | North America
Segment Reporting Information [Line Items]
Revenue	344,919	327,120	642,954	633,457
Consumer connection revenue | North America
Segment Reporting Information [Line Items]
Revenue	259,037	240,016	471,833	461,446
Consumer connection revenue | Europe
Segment Reporting Information [Line Items]
Revenue	16,941	17,345	38,744	39,696
Advertising revenue | North America
Segment Reporting Information [Line Items]
Revenue	65,085	62,608	128,861	123,355
Membership subscription revenue | North America
Segment Reporting Information [Line Items]
Revenue	15,554	17,065	31,791	33,947
Other revenue | North America
Segment Reporting Information [Line Items]
Revenue	5,243	7,431	10,469	14,709
Angi Services revenue | North America
Segment Reporting Information [Line Items]
Revenue	150,895	72,825	264,032	127,529
Service professional membership subscription revenue | Europe
Segment Reporting Information [Line Items]
Revenue	2,738	3,331	5,628	6,659
Advertising and other revenue | Europe
Segment Reporting Information [Line Items]
Revenue	$ 289	$ 367	$ 583	$ 676

SEGMENT INFORMATION - Revenue a

SEGMENT INFORMATION - Revenue and Long-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue and Long-lived Assets by Geography
Revenue	$ 515,782	$ 420,988	$ 951,941	$ 808,017
Long-lived assets (excluding goodwill and intangible assets)	156,230		156,230		$ 118,267
United States
Revenue and Long-lived Assets by Geography
Revenue	490,049	394,538	895,557	750,982
Long-lived assets (excluding goodwill and intangible assets)	149,232		149,232		111,136
All other countries
Revenue and Long-lived Assets by Geography
Revenue	25,733	$ 26,450	56,384	$ 57,035
Long-lived assets (excluding goodwill and intangible assets)	$ 6,998		$ 6,998		$ 7,131

SEGMENT INFORMATION - Operating

SEGMENT INFORMATION - Operating Income (loss) and Adjusted EBITDA by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Operating Loss	$ (20,886)	$ (32,731)	$ (54,843)	$ (32,622)
North America
Segment Reporting Information [Line Items]
Operating Loss	(20,056)	(32,127)	(49,710)	(22,550)
Adjusted EBITDA	10,019	(5,302)	10,360	25,863
Europe
Segment Reporting Information [Line Items]
Operating Loss	(830)	(604)	(5,133)	(10,072)
Adjusted EBITDA	$ (330)	$ 860	$ (3,840)	$ (7,119)

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Adjusted EBITDA to Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting, Other Significant Reconciling Item
Operating Loss	$ (20,886)	$ (32,731)	$ (54,843)	$ (32,622)
Stock-Based Compensation Expense	13,417	9,543	26,402	11,577
Amortization of intangibles	3,804	3,688	7,608	8,762
Interest expense	(5,026)	(5,814)	(10,048)	(12,431)
Other expense, net	(1,750)	(636)	(2,141)	(1,403)
Loss before income taxes	(27,662)	(39,181)	(67,032)	(46,456)
Income tax benefit	3,665	9,129	9,748	18,418
Net loss	(23,997)	(30,052)	(57,284)	(28,038)
Net earnings attributable to noncontrolling interests	(235)	(241)	(338)	(324)
Net loss attributable to Angi Inc. shareholders	(24,232)	(30,293)	(57,622)	(28,362)
North America
Segment Reporting, Other Significant Reconciling Item
Operating Loss	(20,056)	(32,127)	(49,710)	(22,550)
Stock-Based Compensation Expense	13,439	9,455	26,433	11,391
Depreciation	12,832	13,682	26,029	28,260
Amortization of intangibles	3,804	3,688	7,608	8,762
Adjusted EBITDA	10,019	(5,302)	10,360	25,863
Europe
Segment Reporting, Other Significant Reconciling Item
Operating Loss	(830)	(604)	(5,133)	(10,072)
Stock-Based Compensation Expense	(22)	88	(31)	186
Depreciation	522	1,376	1,324	2,767
Amortization of intangibles	0	0	0	0
Adjusted EBITDA	$ (330)	$ 860	$ (3,840)	$ (7,119)

CONSOLIDATED FINANCIAL STATEM_3

CONSOLIDATED FINANCIAL STATEMENT DETAILS - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 360,950	$ 428,136	$ 584,260	$ 812,705
Restricted cash included in other current assets	130	156	236	407
Restricted cash included in other non-current assets	870	1,193	730	449
Total cash and cash equivalents, and restricted cash as shown on the consolidated statement of cash flows	$ 361,950	$ 429,485	$ 585,226	$ 813,561

CONSOLIDATED FINANCIAL STATEM_4

CONSOLIDATED FINANCIAL STATEMENT DETAILS - Allowance for Credit Loss (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1	$ 33,652	$ 26,046
Current period provision for credit losses	47,926	42,731
Write-offs charged against the credit loss reserve	(40,764)	(37,051)
Recoveries collected	2,709	1,351
Balance at June 30	43,523	33,077
Revenue reserve	2,800	2,800
Allowance and reserves	$ 46,300	$ 35,900

CONSOLIDATED FINANCIAL STATEM_5

CONSOLIDATED FINANCIAL STATEMENT DETAILS - Accumulated Amortization and Depreciation (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Depreciation, Depletion and Amortization [Abstract]
Right-of-use assets (included in “other non-current assets”)	$ 50,330	$ 40,757
Capitalized software, leasehold improvements, and equipment	128,114	108,235
Intangible assets	$ 165,582	$ 159,356

CONSOLIDATED FINANCIAL STATEM_6

CONSOLIDATED FINANCIAL STATEMENT DETAILS - Other Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest income	$ 515	$ 50	$ 579	$ 147
Foreign exchange (losses) gains	(2,264)	407	(2,720)	(453)
Loss on extinguishment of debt	0	(1,110)	0	(1,110)
Gain (loss) from acquisition/sale of a business	0	17	0	13
Other	(1)	0	0	0
Other expense, net	$ (1,750)	$ (636)	$ (2,141)	$ (1,403)

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Millions	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Loss contingency reserve	$ 4.1

RELATED PARTY TRANSACTIONS WI_2

RELATED PARTY TRANSACTIONS WITH IAC - Narrative (Details) - IAC - USD ($) shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Services Agreement
Related Party Transaction [Line Items]
Charges for services rendered pursuant to the services agreement	$ 900,000	$ 1,200,000	$ 1,300,000	$ 2,300,000
Amounts due from related party	0		0		$ 0
Amounts due to related party	0		0		0
Sublease Agreement
Related Party Transaction [Line Items]
Amounts due from related party	0		0		0
Amounts due to related party	0		0		0
Payments received from related party	400,000	400,000	800,000	800,000
Expenses from related party transactions	300,000		600,000
Tax Sharing Agreement
Related Party Transaction [Line Items]
Amounts due to related party	1,100,000		1,100,000		$ 300,000
Expenses from related party transactions	$ 0	$ 0	$ 0	$ 0
Employee Matters Agreement | Class B Common Stock
Related Party Transaction [Line Items]
Issuance of common stock to IAC pursuant to the employee matters agreement (shares)	0	0.1	0	0.1
Employee Matters Agreement | Class A Common Stock
Related Party Transaction [Line Items]
Issuance of common stock to IAC pursuant to the employee matters agreement (shares)	0	0.1	0	2.6