Angi's Q2 2025 Earnings Call: Key Contradictions on Pro Strategy, Economic Impact, and Network Growth

Pro acquisition strategy and economic impact, pro network growth expectations, homeowner traffic and economic impact, macroeconomic environment impact, and pro capacity and supply constraints are the key contradictions discussed in Angi's latest 2025Q2 earnings call.



Revenue Growth and Volume Trends:
- Angi reported a first quarter of proprietary volume growth since the beginning of 2021, marking a significant milestone in their journey.
- The growth is attributed to shedding lower-quality revenue and focusing on profitable revenue growth, along with stabilization in network channel traffic and increased revenue per lead.

Profitability Improvement:
- Both Angi's adjusted EBITDA and free cash flow have shown material improvement, with free cash flow turning positive after being negative in 2022.
- This improvement is due to removing unprofitable marketing and sales expenses and focusing on higher-value customer acquisition.

Product Enhancements and Customer Experience:
- Angi's homeowner Net Promoter Score has improved by 30 points over the last 2 years, indicating a significant enhancement in customer satisfaction.
- This improvement is driven by investments in core product functionality and pruning lower-quality traffic, resulting in better customer metrics and retention rates.

Shift to Single Platform and Migration:
- Angi is moving towards a single modern international platform, aiming to improve operating efficiency and speed to market.
- The migration of Pro platforms in the U.S. is planned to further enhance the customer experience and business scale, with successful international migrations already completed.