SEGMENT INFORMATION

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Revenue:
North America	$	479,602	$	443,531	$	1,386,588	$	1,204,517
Europe	18,434		18,034		63,389		65,065
Total	$	498,036	$	461,565	$	1,449,977	$	1,269,582

The following table presents the revenue of the Company’s segments disaggregated by type of service:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
North America
Angi Ads and Leads:
Consumer connection revenue(a)	$	260,242	$	238,421	$	732,075	$	699,867
Advertising revenue(b)	67,045		63,953		195,906		187,308
Membership subscription revenue(c)	14,795		17,079		46,586		51,026
Other revenue	5,658		6,703		16,127		21,412
Total Angi Ads and Leads revenue	347,740		326,156		990,694		959,613
Angi Services revenue(d)	131,862		117,375		395,894		244,904
Total North America revenue	479,602		443,531		1,386,588		1,204,517
Europe
Consumer connection revenue(a)	15,576		14,530		54,320		54,226
Service professional membership subscription revenue	2,575		3,215		8,203		9,874
Advertising and other revenue	283		289		866		965
Total Europe revenue	18,434		18,034		63,389		65,065
Total revenue	$	498,036	$	461,565	$	1,449,977	$	1,269,582

________________________

(a)    Includes fees paid by service professionals for consumer matches.

(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.

Geographic information about revenue and long-lived assets is presented below.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Revenue
United States	$	473,835	$	437,872	$	1,369,392	$	1,188,854
All other countries	24,201		23,693		80,585		80,728
Total	$	498,036	$	461,565	$	1,449,977	$	1,269,582

	September 30, 2022		December 31, 2021
	(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States	$	160,879	$	111,136
All other countries	6,423		7,131
Total	$	167,302	$	118,267

The following tables present operating loss and Adjusted EBITDA by reportable segment:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Operating (loss) income:
North America	$	(12,518)	$	(14,719)	$	(62,228)	$	(37,269)
Europe	1,460		(254)		(3,673)		(10,326)
Total	$	(11,058)	$	(14,973)	$	(65,901)	$	(47,595)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Adjusted EBITDA(f):
North America	$	20,792	$	11,213	$	31,152	$	37,076
Europe	$	2,090	$	1,182	$	(1,750)	$	(5,937)

(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 September 30, 2022
	Operating (Loss) Income		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
North America	$	(12,518)	$	12,282	$	17,223	$	3,805	$	20,792
Europe	1,460		$	94	$	536	$	—	$	2,090
Operating loss	(11,058)
Interest expense	(5,030)
Other expense, net	(2,296)
Loss before income taxes	(18,384)
Income tax benefit	945
Net loss	(17,439)
Net earnings attributable to noncontrolling interests	(40)
Net loss attributable to Angi Inc. shareholders	$	(17,479)

	Three Months Ended September 30, 2021
	Operating Loss		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
North America	$	(14,719)	$	8,727	$	13,351	$	3,854	$	11,213
Europe	(254)		$	86	$	1,350	$	—	$	1,182
Operating loss	(14,973)
Interest expense	(6,032)
Other income, net	(479)
Loss before income taxes	(21,484)
Income tax benefit	4,791
Net earnings	(16,693)
Net earnings attributable to noncontrolling interests	(302)
Net earnings attributable to Angi Inc. shareholders	$	(16,995)

	Nine Months Ended September 30, 2022
	Operating Loss		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
North America	$	(62,228)	$	38,715	$	43,252	$	11,413	$	31,152
Europe	(3,673)		$	63	$	1,860	$	—	$	(1,750)
Operating loss	(65,901)
Interest expense	(15,078)
Other expense, net	(4,437)
Loss before income taxes	(85,416)
Income tax benefit	10,693
Net loss	(74,723)
Net earnings attributable to noncontrolling interests	(379)
Net loss attributable to Angi Inc. shareholders	$	(75,102)

	Nine Months Ended September 30, 2021
	Operating Loss		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
North America	$	(37,269)	$	20,118	$	41,611	$	12,616	$	37,076
Europe	(10,326)		$	272	$	4,117	$	—	$	(5,937)
Operating loss	(47,595)
Interest expense	(18,463)
Other income, net	(1,882)
Loss before income taxes	(67,940)
Income tax benefit	23,209
Net earnings	(44,731)
Net earnings attributable to noncontrolling interests	(626)
Net earnings attributable to Angi Inc. shareholders	$	(45,357)