Anghami's 62.5% Surge Driven by 2594% Volume Spike Ranks 412th Most Traded Despite 72% YTD Decline

Market Snapshot

, 2025, marking one of the most significant single-day gains in its history. , , and ranked 412th in market activity. Despite the sharp rise, , reflecting broader market skepticism about its long-term profitability. The surge followed the release of the company’s first-half 2025 financial results, , driven by subscription growth and strategic partnerships.

Key Drivers

Anghami’s stock rally was catalyzed by robust first-half 2025 financial performance, particularly in subscription revenue. , , . This growth was fueled by the successful integration of OSN+, a digital entertainment platform, which expanded Anghami’s offerings beyond music to include video content. , underscoring its dominant position in the Middle East and North Africa () region. However, the company’s profitability remains under pressure, .

A pivotal factor behind the stock’s momentum was Anghami’s strategic partnership with Warner Bros. Discovery (WBD), , the entity controlling Anghami. This partnership secured exclusive access to HBO programming, Max Originals, and other global content for MENA audiences, enhancing Anghami’s competitive edge. The investment not only bolstered content offerings but also signaled institutional confidence in Anghami’s expansion strategy. Additionally, the company announced new OSN+ partnerships with Noon, PlayStation, and Talabat during the period, further diversifying its distribution channels and user acquisition strategies.

Despite the revenue growth, investors remain cautious about Anghami’s financial health. , , reflecting significant cost pressures. Management acknowledged these challenges, stating it is implementing cost-optimization measures to improve scalability. The stock’s technical indicators also highlight a bearish trend, , suggesting undervaluation but lingering risks. Analysts note that while subscriber growth and content partnerships are positive, the path to profitability hinges on reducing integration costs and achieving operational synergies.

Looking ahead, Anghami expects topline growth to continue in the second half of 2025, supported by its expanding content library and distribution partnerships. The company has also announced plans for major content launches in early 2026, including exclusive regional productions and expanded international collaborations. These initiatives aim to solidify Anghami’s leadership in the MENA streaming market. However, near-term profitability is unlikely to improve as integration investments and subscriber acquisition costs persist. Management emphasized that cost controls and scaling efficiencies will be critical to unlocking long-term value.

The stock’s sharp intraday rally—spiking over 63% in after-hours trading—reflected investor optimism about Anghami’s growth potential, despite its current financial challenges. This optimism was further reinforced by the company’s improved operational metrics, . While the market remains wary of Anghami’s ability to sustain profitability, the combination of subscriber expansion, strategic partnerships, and content innovation has positioned the company as a key player in the evolving MENA streaming landscape. Investors will closely monitor upcoming quarterly reports to assess the effectiveness of management’s cost-reduction strategies and the sustainability of its revenue growth trajectory.