Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Angi Inc. (NASDAQ:ANGI) Q1 2023 Earnings Call Transcript

Angi Inc. (NASDAQ:ANGI) Q1 2023 Earnings Call Transcript May 10, 2023

Angi Inc. beats earnings expectations. Reported EPS is $-0.03, expectations were $-0.06.

Operator: Good morning, and welcome to the IAC and Angi First Quarter 2023 Earnings Call. All participants will be in listen-only mode. [Operator Instructions]. After today’s presentation there will be an opportunity to ask questions. Please note, this event is being recorded. I would now like to turn the conference over to Christopher Halpin, CFO and COO of IAC. Please go ahead.

Christopher Halpin: Thank you. Good morning, everyone. Christopher Halpin here, and welcome to the IAC and Angi Inc.’s first quarter earnings call. Joining me today is Joey Levin, CEO of IAC and CEO and Chairman of Angi, Inc. Similar to last quarter, supplemental to our quarterly earnings releases, IAC has also published its quarterly shareholder letter, which is currently available on the Investor Relations section of IAC’s website. We will not be reading the shareholder letter on this call. I will shortly turn the call over to Joey to make a few brief introductory remarks. We will then open it up to Q&A. Before we get to that, I’d like to remind you that during this presentation, we may discuss our outlook and future performance.

These forward-looking statements typically may be preceded by words such as we expect, we believe, we anticipate or similar statements. These forward-looking views are subject to risks and uncertainties, and our actual results could differ materially from the views expressed today. Some of these risks have been set forth in IAC’s and Angi, Inc.’s first quarter releases in our respective filings with the SEC. We’ll also discuss certain non-GAAP measures, which as a reminder, include adjusted EBITDA, which we’ll refer to today as EBITDA for simplicity during the call. I’ll also refer you to our releases, the IAC shareholder letter and again to the Investor Relations section of our respective websites for all comparable GAAP measures and full reconciliations for all material non-GAAP measures.

Now let’s jump right into it, Joey.

Joey Levin: Thank you, Chris. Welcome, everybody. Thanks for joining us this morning. Feels good to be playing a bit of offense again here. I think we’ve meaningfully turned a corner on earnings. I think the back to basic theme is working here. We have really focused internally for the last quarter or several quarters, and I think that’s starting to show up in our numbers, and that’s allowed us to focus on allocating capital again, too. You saw we put a lot of capital to work this quarter and really all of it focused internally on the things you know really well. I think that’s consistent with our back to basic theme and consistent with what we’re seeing in our business, which is — we’re getting things working. We’re getting things working in terms of profitability.

We’re getting things working in terms of customer experience and we’re getting things working in terms of preparing for the future and starting to win competitively and that feels really good to be on that team. I know there’s a lot of things we did this quarter that people are interested to hear about. So let’s get to questions quickly. Thanks, operator.

Q&A Session

Follow Angie's List Inc. (Old) (NASDAQ:ANGI)

Operator: We will now begin the question-and-answer session. [Operator Instructions]. Our first question comes from Ross Sandler from Barclays. Please go ahead.

Operator: Next question comes from Cory Carpenter from JPMorgan. Please go ahead.

Operator: Next question comes from Brian Fitzgerald from Wells Fargo. Please go ahead.

Operator: Next question comes from John Blackledge from Cowen. Please go ahead.

Operator: Next question comes from Brent Thill from Jefferies. Please go ahead.

Operator: Next question comes from Jason Helfstein from Oppenheimer. Please go ahead.

Operator: Next question comes from Eric Sheridan from Goldman Sachs. Please go ahead.

Operator: Next question comes from Stephen Ju from Credit Suisse. Please go ahead.

Operator: Next question comes from Ygal Arounian from Citigroup. Please go ahead.

Operator: Next question comes from Youssef Squali from Truist. Please go ahead.

Operator: Next question comes from Justin Patterson from KeyBanc. Please go ahead.

Christopher Halpin: Thank you. Well, we will wrap up the earnings call now. We thank all of you for joining and wish you a good day. Thank you.

Joey Levin: Thanks, everybody.

Operator: The conference has now concluded. Thanks for attending today’s presentation. You may now disconnect.

Follow Angie's List Inc. (Old) (NASDAQ:ANGI)

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 75%.

For a ridiculously low price of just $24, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

  • The Name of the Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.
  • Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
  • Lifetime Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund ANYTIME, no questions asked.

 

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

  1. Head over to our website and subscribe to our Premium Readership Newsletter for just $24.
  2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.
  3. Sit back, relax, and know that you’re backed by our ironclad lifetime money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…