v3.26.3
SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
The following table presents revenue by reportable segment:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(In thousands)
Revenue:
U.S.$211,107 $233,247 $628,980 $691,333 
International30,911 32,386 99,191 98,434 
Total$242,018 $265,633 $728,171 $789,767 
The following table presents the significant expenses included in the Company’s segment reporting performance measure, Segment Adjusted EBITDA, that are regularly provided to the CODM:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in thousands)
U.S.
Consumer marketing expense (a)
$85,783 $84,869 $273,636 $242,999 
Fixed expense (b)
36,029 45,006 106,460 142,761 
Pro acquisition expense (c)
30,410 34,068 92,740 108,243 
Variable expense (d)
17,923 26,979 60,248 81,507 
Cost of revenue (e)
9,121 11,270 27,462 35,619 
Total U.S. expenses179,266 202,192 560,546 611,129 
International
Consumer marketing expense (a)
3,725 4,084 20,084 13,771 
Fixed expense (b)
6,491 11,249 20,341 34,786 
Pro acquisition expense (c)
3,779 2,312 13,509 10,429 
Variable expense (d)
5,037 5,117 15,797 16,496 
Cost of revenue (e)
1,532 1,190 4,553 2,998 
Total International expenses20,564 23,952 74,284 78,480 
Total expenses$199,830 $226,144 $634,830 $689,609 
Pro acquisition expense for the three months ended September 30, 2026 excludes $2.1 million of commissions capitalized in the same period and includes $2.7 million of amortization of capitalized commissions from prior periods. Pro acquisition expense for the three months ended September 30, 2025 excludes $1.9 million of commissions capitalized in the same period and includes $6.5 million of amortization of capitalized commissions from prior periods.
Pro acquisition expense for the nine months ended September 30, 2026 excludes $7.1 million of commissions capitalized in the same period and includes $9.0 million of amortization of capitalized commissions from prior periods. Pro acquisition expense for the nine months ended September 30, 2025 excludes $7.7 million of commissions capitalized in the same period and includes $23.3 million of amortization of capitalized commissions from prior periods.
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(a) Consumer marketing expense includes (i) advertising expenditures to promote the brand to consumers with (a) online marketing, including fees paid to search engines and other online marketing platforms, partners who direct traffic to our brands, and app platforms, and (b) offline marketing, which is primarily television, streaming and radio advertising, (ii) compensation expense, excluding stock-based compensation, and other employee-related costs for consumer marketing personnel and (iii) outsourced personnel costs.
(b) Fixed expense includes (i) compensation expense, excluding stock-based compensation, and other employee-related costs for personnel engaged in (a) the design, development, testing, and enhancement of product offerings and related technology and (b) executive management, finance, legal, tax, marketing and human resources functions, (ii) software license and maintenance costs, (iii) rent expense and facilities costs (including impairments of ROU assets), (iv) fees for professional services and (v) outsourced personnel costs for personnel engaged in product development.
(c) Pro acquisition expense includes (i) advertising expenditures to promote the brand to Pros with (a) online marketing, including fees paid to search engines and other online marketing platforms, partners who direct traffic to the brands within the Angi segments, and app platforms, and (b) offline marketing, which is primarily television, streaming and radio advertising and (ii) compensation expense, excluding stock-based compensation, and other employee-related costs for professional acquisition sales and marketing personnel.
(d) Variable expense includes (i) compensation expense, excluding stock-based compensation, and other employee-related costs for personnel engaged in customer service functions, (ii) provision for credit losses, (iii) outsourced personnel costs for personnel engaged in assisting in customer service functions and (iv) service guarantee expense.
(e) Cost of revenue consists primarily of (i) credit card processing fees, (ii) hosting fees, (iii) payments made to independent third-party Pros who perform work, and (iv) sales tax.
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 September 30,Nine Months Ended September 30,
2026202520262025
(In thousands)
U.S.:
Lead revenue$194,770 $151,261 $575,495 $420,857 
Advertising revenue— 57,820 (46)193,713 
Services revenue10,739 17,188 36,868 53,401 
Membership subscription revenue5,575 6,931 16,560 23,205 
Other revenue23 47 103 157 
Total U.S. Revenue
211,107 233,247 628,980 691,333 
International:
Lead revenue29,295 31,986 95,491 96,376 
Membership subscription revenue— — — 838 
Other revenue1,616 400 3,700 1,220 
Total International Revenue
30,911 32,386 99,191 98,434 
Total revenue$242,018 $265,633 $728,171 $789,767 
Schedule of Reconciliation of Adjusted EBITDA to Operating Income (Loss) The following table presents a summary of Segment Adjusted EBITDA:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(In thousands)
Segment Adjusted EBITDA:
U.S.$31,841 $31,052 $68,434 $80,199 
International10,347 8,630 24,907 20,152 
Total Segment Adjusted EBITDA$42,188 $39,682 $93,341 $100,351 
The following table reconciles total Segment Adjusted EBITDA to earnings before income taxes:

Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(In thousands)
Total Segment Adjusted EBITDA$42,188 $39,682 $93,341 $100,351 
Stock-based compensation expense(9,134)(5,982)(16,842)(8,749)
Depreciation(16,851)(11,918)(52,584)(32,144)
Restructuring
(727)— (16,424)— 
Goodwill impairment
— — (225,628)— 
Impairment of intangibles— — (9,600)— 
Interest expense(4,298)(5,069)(14,435)(15,164)
Other income, net1,897 4,090 13,967 13,737 
Earnings (loss) before income taxes$13,075 $20,803 $(228,205)$58,031 
Schedule of Capital Expenditures by Segment
The following table presents capital expenditures as viewed by the CODM:

Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(In thousands)
Capital expenditures:
U.S.$12,505 $14,162 $39,214 $38,829 
International1,593 1,886 5,615 2,043 
Total$14,098 $16,048 $44,829 $40,872 
Schedule of Revenue by Geographic Areas Geographic information about revenue and long-lived assets is presented below:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(In thousands)
Revenue:
United States$211,106 $233,219 $628,945 $691,254 
All other countries30,912 32,414 99,226 98,513 
Total$242,018 $265,633 $728,171 $789,767 
Schedule of Long-lived Assets by Geographic Areas
September 30, 2026December 31, 2025
(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States$100,995 $113,647 
All other countries13,202 10,787 
Total$114,197 $124,434