0001705110-24-000012 | 10-K | XBRL Viewer

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INCOME TAXES - Income before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S.	$ (38,717)	$ (87,557)	$ (80,182)
Foreign	10,509	(7,001)	(13,730)
Loss from continuing operations before income taxes	$ (28,208)	$ (94,558)	$ (93,912)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
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-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Fixed lease expense	$ 12,132	$ 14,720	$ 25,344
Variable lease expense	5,263	4,667	4,092
Net lease expense	17,395	19,387	29,436
Lease impairment charges	700	1,700	7,800
Sublease Income	4,300	4,700	1,800
Cost of revenue
Lessee, Lease, Description [Line Items]
Fixed lease expense	392	437	346
Selling and marketing expense
Lessee, Lease, Description [Line Items]
Fixed lease expense	116	2,669	7,305
Variable lease expense	36	200	1,087
General and administrative expense
Lessee, Lease, Description [Line Items]
Fixed lease expense	11,225	11,122	16,461
Variable lease expense	5,071	4,444	2,438
Product development expense
Lessee, Lease, Description [Line Items]
Fixed lease expense	399	492	1,232
Variable lease expense	$ 156	$ 23	$ 567

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Consolidation

The Company prepares its consolidated financial statements (referred to herein as “financial statements”) in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). The financial statements include the accounts of the Company, all entities that are wholly-owned by the Company and all entities in which the Company has a controlling financial interest. All intercompany transactions and balances between and among the Company and its subsidiaries have been eliminated.

In the opinion of management, the assumptions underlying the historical financial statements, including the basis on which the expenses have been allocated from IAC, are reasonable. However, the allocations may not reflect all of the expenses that Angi Inc. may have incurred as a standalone public company for the periods presented.

See “Note 17—Related Party Transactions with IAC” for information on transactions between Angi and IAC.

COVID-19 Update

The COVID-19 pandemic and the various responses to it created significant volatility, uncertainty and economic disruption. Recently, there has been a return to normal societal interactions, including the way we operate our business.

As previously disclosed, the impact of COVID-19 initially resulted in a decline in demand for service requests, driven primarily by decreases in demand in certain categories of jobs (particularly discretionary indoor projects). While we experienced a rebound in service requests in early 2021, service requests started to decline in May 2021 and continued to decline during 2022 due, in part, to COVID-19 measures that were more widely in place in prior periods. Our ability to monetize service requests rebounded modestly in the second half of 2021 and the first half of 2022; however, that improved monetization plateaued in the third quarter of 2022 returning to monetization rates similar to those experienced pre-COVID-19.

Outlook

The extent to which developments related to the COVID-19 pandemic and measures designed to curb its spread continue to impact the Company’s business, financial condition and results of operations will depend on future developments, all of which are highly uncertain and many of which are beyond the Company’s control, including the severity of resurgences of COVID-19 caused by variant strains of the virus, the effectiveness of vaccines and attitudes toward receiving them, materials and supply chain constraints, labor shortages, the scope of governmental and other restrictions on travel, discretionary services and other activity, and public reactions to these developments.

Accounting Estimates

Management of the Company is required to make certain estimates, judgments, and assumptions during the preparation of its financial statements in accordance with GAAP. These estimates, judgments, and assumptions impact the reported amounts of assets, liabilities, revenue, and expenses and the related disclosure of assets and liabilities. Actual results could differ from these estimates.

On an ongoing basis, the Company evaluates its estimates and judgments, including those related to: the fair values of cash equivalents and marketable debt securities; the carrying value of accounts receivable, including the determination of the allowance for credit losses; the determination of the customer relationship period for certain costs to obtain a contract with a customer; the recoverability of right-of-use assets (“ROU assets”); the useful lives and recoverability of capitalized software, leasehold improvements, equipment, and definite-lived intangible assets; the recoverability of goodwill and indefinite-lived intangible assets; contingencies, unrecognized tax benefits; the liability for potential refunds and customer credits; the valuation allowance for deferred income tax assets; and the fair value of and forfeiture rates for stock-based awards, among others. The Company bases its estimates and judgments on historical experience, its forecasts and budgets, and other factors that the Company considers relevant.

Revenue Recognition

The Company accounts for a contract with a customer when it has approval and commitment from all authorized parties, the rights of the parties and payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Revenue is recognized when control of the promised services or goods is transferred to our customers and in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services or goods.

The Company’s disaggregated revenue disclosures are presented in “Note 9—Segment Information.”

Ads and Leads Revenue

Ads and Leads revenue includes consumer connection revenue, which comprises fees paid by service professionals for consumer matches (regardless of whether the service professional ultimately provides the requested service), revenue from service professionals under contract for advertising, membership subscription revenue from service professionals and consumers, and revenue from other services. Consumer connection revenue varies based upon several factors, including the service requested, product experience offered, and geographic location of service. Consumer connection revenue is generally billed one week following a consumer match, with payment due upon receipt of invoice. The Company maintains a liability for potential credits issued to services providers. Angi service professionals generally pay for advertisements in advance on a monthly or annual basis at the option of the service professional, with the average advertising contract term being approximately one year. Angi website, mobile and call center advertising revenue is recognized ratably over the contract term. Revenue from the sale of advertising in the Angie’s List Magazine is recognized in the period in which the publication is distributed. Service professional membership subscription revenue is initially deferred upon receipt of payment and is

recognized using the straight-line method over the applicable subscription period, which is typically one year. Angi prepaid consumer membership subscription fees are recognized as revenue using the straight-line method over the term of the applicable subscription period, which is typically one year.

Services Revenue

Services revenue primarily reflects revenue from pre-priced offerings by which the consumer requests services through the Company’s platform and the Company engages a service professional to perform the service. Consumers are billed when a job is scheduled through the Services platform. Billing practices are governed by the contract terms of each project as negotiated with the consumer. Billings do not necessarily correlate with revenue recognized over time as this is based on the timing of when the consumer receives the promised services.

From January 1, 2020 through December 31, 2022, Services recorded revenue on a gross basis. Effective January 1, 2023, Angi Inc. modified the Services terms and conditions so that the service professional, rather than Angi, Inc., has the contractual relationship with the consumer to deliver the service and our performance obligation to the consumer is to connect them with the service professional. This change in contractual terms requires revenue to be reported as the net amount of what is received from the consumer after deducting the amounts owed to the service professional providing the service effective for all arrangements entered into after December 31, 2022. There is no impact to operating loss or Adjusted EBITDA from this change in revenue recognition. For the years ended December 31, 2022 and 2021, if Services revenue were recorded on a net basis, revenue would have been reduced by $242.6 million and $180.7 million, respectively.

International Revenue

International revenue primarily comprises consumer connection revenue for consumer matches and membership subscription revenue from service professionals and consumers.

Transaction Price

The objective of determining the transaction price is to estimate the amount of consideration the Company is due in exchange for its services or goods, including amounts that are variable. Contracts may include sales incentives, such as rebates, which are accounted for as variable consideration when estimating the transaction price. The Company also maintains a liability for potential future refunds and customer credits, which is recorded as a reduction of revenue. All estimates of variable consideration are based upon historical experience and customer trends. The Company determines the total transaction price, including an estimate of any variable consideration, at contract inception and reassesses this estimate each reporting period.

The Company excludes from the measurement of transaction price all taxes assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers. Accordingly, such tax amounts are not included as a component of revenue or cost of revenue.

Arrangements with Multiple Performance Obligations

The Company’s contracts with customers may include multiple performance obligations. For such arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company generally determines standalone selling prices based on the prices charged to customers, which are directly observable or based on an estimate if not directly observable.

Practical Expedients and Exemptions

For contracts that have an original duration of one year or less, the Company uses the practical expedient available under Accounting Standards Codification (“ASC”) 606 (“ASC 606”), applicable to such contracts and does not consider the time value of money.

As permitted under the practical expedient available under ASC 606, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise

accounted for under the series guidance, and (iii) contracts for which the Company recognizes revenue at the amount which we have the right to invoice for services performed.

The Company also applies the practical expedient for sales commissions where the anticipated customer relationship period is one year or less as noted below.

Costs to Obtain a Contract with a Customer

The Company has determined that commissions paid to employees pursuant to certain sales incentive programs, meet the requirements to be capitalized as a cost of obtaining a contract. Capitalized sales commissions are amortized over the estimated customer relationship period and are included in “Selling and marketing expense” in the statement of operations. The Company calculates the anticipated customer relationship period as the average customer life, which is based on historical data. When customer renewals are expected and the renewal commission is not commensurate with the initial commission, the average customer life includes renewal periods. For sales incentive programs where the anticipated customer relationship period is one year or less, the Company has elected the practical expedient to expense the costs as incurred.

Beginning October 1, 2022, commissions earned on certain transactions within the Ads & Leads segment were expensed as incurred after determining the related customer relationship was less than one year.

The following table presents the capitalized sales commissions balances and balance sheet classification at the balance sheet dates:


Classification	December 31, 2023		December 31, 2022
	(In thousands)
Other current assets	$	34,927	$	37,220
Other non-current assets	$	3,528	$	1,904

During the years ended December 31, 2023 and 2022, the Company recognized expense of $61.4 million and $77.4 million, respectively, related to the amortization of these capitalized costs.

Accounts Receivable, Net of the Allowance for Credit Losses

Accounts receivable include amounts billed and currently due from customers. The allowance for credit losses is based upon a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history, the specific customer’s ability to pay its obligation and any other forward-looking data regarding customers’ ability to pay that is available. The time between the Company’s issuance of an invoice and payment due date is not significant; customer payments that are not collected in advance of the transfer of promised services or goods are generally due no later than 30 days from invoice date.

Deferred Revenue

Deferred revenue consists of payments that are received or are contractually due in advance of the Company’s performance obligation. The Company’s deferred revenue is reported on a contract-by-contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the remaining term or expected completion of its performance obligation is one year or less. At December 31, 2022, the current and non-current deferred revenue balances were $50.1 million and less than $0.1 million, respectively, and during the year ended December 31, 2023, the Company recognized $48.0 million that was included in the deferred revenue balance as of December 31, 2022. At December 31, 2021, the current and non-current deferred revenue balances were $53.2 million and $0.1 million, respectively, and during the year ended December 31, 2022, the Company recognized $52.8 million of revenue that was included in the deferred revenue balance at December 31, 2021. The current and non-current deferred revenue balances at December 31, 2023 are $49.9 million and less than $0.1 million, respectively. Non-current deferred revenue is included in “Other long-term liabilities” in the balance sheet.

Fair Value Measurements

The Company categorizes its financial instruments measured at fair value into a fair value hierarchy that prioritizes the inputs used in pricing the asset or liability. The three levels of the fair value hierarchy are:

•Level 1: Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets.

•Level 2: Other inputs, which are observable directly or indirectly, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices for identical or similar assets or liabilities in markets that are not active and inputs that are derived principally from or corroborated by observable market data. The fair values of the Company’s Level 2 financial assets are primarily obtained from observable market prices for identical underlying securities that may not be actively traded. Certain of these securities may have different market prices from multiple market data sources, in which case an average market price is used.

•Level 3: Unobservable inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information available in the circumstances, about the assumptions market participants would use in pricing the assets or liabilities.

The Company’s non-financial assets, such as goodwill, intangible assets, ROU assets, capitalized software, leasehold improvements and equipment are adjusted to fair value only when an impairment is recognized. Such fair value measurements are based predominantly on Level 3 inputs.

Cash and Cash Equivalents

Cash and cash equivalents include cash and short-term investments, with maturities of less than 91 days from the date of purchase. Domestically, cash equivalents consist of AAA rated government money market funds, treasury discount notes, and time deposits. Internationally, there are no cash equivalents at December 31, 2023 and 2022.

Investments in Marketable Debt Securities

At times, the Company invests in marketable debt securities with active secondary or resale markets to ensure portfolio liquidity to fund current operations or satisfy other cash requirements as needed. Marketable debt securities are adjusted to fair value each quarter, and the unrealized gains and losses, net of tax, are included in accumulated other comprehensive income (loss) as a separate component of shareholders’ equity. The specific-identification method is used to determine the cost of debt securities sold and the amount of unrealized gains and losses reclassified out of accumulated other comprehensive income (loss) into earnings. The Company reviews its debt securities for impairment, including from risk of credit loss, each reporting period. The Company recognizes an unrealized loss on debt securities in net loss when the impairment is determined to be other-than-temporary. Factors the Company considers in making such determination include the duration, severity and reason for the decline in value and the potential recovery and our intent to sell the debt security. The Company also considers whether it will be required to sell the security before recovery of its amortized cost basis and whether the amortized cost basis cannot be recovered because of credit losses. If an impairment is considered to be other-than-temporary, the debt security will be written down to its fair value and the loss will be recognized within other income (expense), net. The Company held no marketable debt securities at December 31, 2023 and 2022.

Capitalized Software, Leasehold Improvements and Equipment

Capitalized software, leasehold improvements and equipment, including significant improvements, are recorded at cost or at fair value to the extent acquired in a business combination. Repairs and maintenance costs are expensed as incurred. Amortization of leasehold improvements, which is included in “Depreciation” in the statement of operations, and depreciation are computed using the straight-line method over the estimated useful lives of the assets, or, in the case of leasehold improvements, the lease term, if shorter.


Asset Category						Estimated Useful Lives
Capitalized software and computer equipment						2 to 3 Years
Furniture and other equipment						5 to 7 Years
Leasehold improvements						5 to 25 Years

The Company capitalizes certain internal use software costs including external direct costs utilized in developing or obtaining the software and compensation for personnel directly associated with the development of the software. Capitalization of such costs begins when the preliminary project stage is complete and ceases when the project is substantially complete and ready for its intended purpose. The net book value of capitalized internal use software was $92.3 million and $128.6 million at December 31, 2023 and 2022, respectively.

Business Combinations

The purchase price of each acquisition is attributed to the assets acquired and liabilities assumed based on their fair values at the date of acquisition, including identifiable intangible assets that either arise from a contractual or legal right or are separable from goodwill. The Company usually obtains the assistance of outside valuation experts to assist in the allocation of purchase price to the identifiable intangible assets acquired. While outside valuation experts may be used, management has ultimate responsibility for the valuation methods, models and inputs used and the resulting purchase price allocation. The excess purchase price over the value of net tangible and identifiable intangible assets acquired is recorded as goodwill and is assigned to the reporting unit(s) that is expected to benefit from the business combination as of the acquisition date.

Goodwill and Indefinite-Lived Intangible Assets

The Company assesses goodwill and indefinite-lived intangible assets for impairment annually as of October 1, or more frequently if an event occurs or circumstances change that would indicate that it is more likely than not that the fair value of a reporting unit or the fair value of an indefinite-lived intangible asset has declined below its carrying value. At October 1, 2023, the Company had four reporting units: Ads and Leads, Services, Roofing, and International. THR was sold on November 1, 2023 and is reflected as a discontinued operation in the Company’s financial statements. See “Note 1—Organization” for additional information.

When the Company elects to perform a qualitative assessment and concludes it is not more likely than not that the fair value of the reporting unit is less than its carrying value, no further assessment of that reporting unit’s goodwill is necessary; otherwise, a quantitative assessment is performed and the fair value of the reporting unit is determined. If the carrying value of the reporting unit exceeds its estimated fair value, a goodwill impairment equal to the excess is recorded.

For the Company’s annual goodwill test at October 1, 2023, a qualitative assessment of the Ads and Leads, Services, and International reporting units was performed by the Company to evaluate whether it is more likely than not that the fair value of these reporting units was in excess of their respective carrying values. The primary factors that the Company considered in its qualitative assessment for each of these reporting units are described below:

•The Company considered the strong forecasted operating performance, in addition to actual operating results in the current year, of the Ads and Leads, Services, and International reporting units.

•The Company also considered the prior year annual valuations of the Ads and Leads, Services, and International reporting units prepared as of October 1, 2022, and valuations of the International reporting unit prepared approximate to, however, not as of, October 1, 2023, in connection with the issuance and/or settlement of equity awards that are denominated in the equity of this business.

Based on these factors we concluded that it is not more likely than not that the fair value of the reporting units is below their respective carrying amounts.

As of October 1, 2023, prior to its sale on November 1, 2023, the Roofing reporting unit had no goodwill or indefinite-lived intangible assets.

If and when a quantitative test is performed, the fair value of the Company’s reporting units are determined using both an income approach based on discounted cash flows (“DCF”) and a market approach. Determining fair value using a DCF analysis requires the exercise of significant judgment with respect to several items, including the amount and timing of expected future cash flows and appropriate discount rates. The expected cash flows used in the DCF analyses are based on the Company’s most recent forecast and budget and, for years beyond the budget, the Company’s estimates, which are based, in part, on forecasted growth rates. The discount rates used in the DCF analyses are intended to reflect the risks inherent in the expected future cash flows of the respective reporting units. Assumptions used in the DCF analyses, including the discount rate, are assessed based on the reporting units’ current results and forecasted future performance, as well as macroeconomic and industry specific factors. Determining fair value using a market approach considers multiples of financial metrics based on both acquisitions and trading multiples of a selected peer group of companies. From the comparable companies, a representative market multiple is determined which is applied to financial metrics to estimate the fair value of a reporting unit. To determine a peer group of companies for our respective reporting units, we considered companies relevant in terms of consumer use, monetization model, margin and growth characteristics, and brand strength operating in their respective sectors.

While the Company has the option to qualitatively assess whether it is more likely than not that the fair values of its indefinite-lived intangible assets are less than their carrying values, the Company’s policy is to determine the fair value of each of its indefinite-lived intangible assets annually as of October 1, in part, because the level of effort required to perform the quantitative and qualitative assessments is essentially equivalent. The Company determines the fair value of indefinite-lived intangible assets other than goodwill using an avoided royalty DCF valuation analysis. Significant judgments inherent in this analysis include the selection of appropriate royalty and discount rates and estimating the amount and timing of expected future cash flows. The discount rates used in the DCF analyses are intended to reflect the risks inherent in the expected future cash flows generated by the respective intangible assets. The royalty rates used in the DCF analyses are based upon an estimate of the royalty rates that a market participant would pay to license the Company’s trade names and trademarks. Assumptions used in the avoided royalty DCF analyses, including the discount rate and royalty rate, are assessed annually based on the actual and projected cash flows related to the asset, as well as macroeconomic and industry specific factors. The discount rates used in the Company’s annual indefinite-lived impairment assessment ranged from 15.0% to 17.0% in 2023 and 12.0% to 18.5% in 2022, and the royalty rates used ranged from 2.5% to 4.5% in 2023 and 2.0% to 4.5% in 2022.

The October 1, 2023 and 2021 annual assessments of goodwill and indefinite-lived intangible assets did not identify any impairments. The October 1, 2022 annual assessment identified a $26.0 million goodwill impairment at the Roofing reporting unit, which is reflected as a discontinued operation in the Company’s financial statements.

Long-Lived Assets

Long-lived assets, other than goodwill and indefinite-lived intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying value is deemed not to be recoverable, an impairment loss is recorded equal to the amount by which the carrying value of the long-lived asset exceeds its fair value.

Advertising Costs

Advertising costs are expensed in the period incurred (when the advertisement first runs for production costs that are initially capitalized) and represent online marketing, including fees paid to search engines, offline marketing, which is primarily television advertising and partner-related payments to those who direct traffic to our platforms. Advertising expense was $459.4 million, $558.4 million and $553.8 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Legal Costs

Legal costs, other than certain costs incurred to obtain financing, are expensed as incurred.

Debt Issuance Costs

Costs incurred to obtain financing are deferred and amortized to “Interest expense” in the statement of operations over the related financing period using the effective interest method. The Company records debt issuance costs as a direct reduction of the carrying value of the related debt.

Income Taxes

The Company accounts for income taxes under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided if it is determined that it is more likely than not that the deferred tax asset will not be realized. The Company records interest, net of any applicable related income tax benefit, for uncertain tax positions as a component of income tax expense. The Company elects to recognize the tax on Global Intangible Low-Taxed Income as a period expense in the period the tax is incurred.

The Company evaluates and accounts for uncertain tax positions using a two-step approach. Recognition (step one) occurs when the Company concludes that a tax position, based solely on its technical merits, is more-likely-than-not to be sustainable upon examination. Measurement (step two) determines the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. De-recognition of a tax position that was previously recognized would occur when the Company subsequently determines that a tax position no longer meets the more-likely-than-not threshold of being sustained.

Earnings Per Share

Basic earnings per share is computed by dividing net earnings attributable to Angi Inc. shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if stock appreciation rights, stock options and other commitments to issue common stock were exercised or equity awards vested resulting in the issuance of common stock that could share in the earnings of the Company. See “Note 13—Loss per share” for additional information on dilutive securities.

Foreign Currency Translation and Transaction Gains and Losses

The financial position and operating results of foreign entities whose primary economic environment is based on their local currency are consolidated using the local currency as the functional currency. These local currency assets and liabilities are translated at the rates of exchange as of the balance sheet date, and local currency revenue and expenses of these operations are translated at average rates of exchange during the period. Translation gains and losses are included in accumulated other comprehensive income (loss) as a component of shareholders’ equity. Transaction gains and losses resulting from assets and liabilities denominated in a currency other than the functional currency are included in the statement of operations as a component of other income (expense), net. Translation gains and losses relating to foreign entities that are liquidated or substantially liquidated are reclassified out of accumulated other comprehensive income (loss) into earnings. See “Note 14—Financial Statement Details” for additional information regarding foreign currency exchange gains and losses.

Stock-Based Compensation

Stock-based compensation is measured at the grant date based on the fair value of the award and is expensed over the requisite service period. See “Note 10—Stock‑based Compensation” for a discussion of the Company’s stock-based compensation plans.

Redeemable Noncontrolling Interests

Noncontrolling interests in the subsidiaries of the Company are ordinarily reported on the balance sheet within shareholders’ equity, separately from the Company’s equity. However, securities that are redeemable at the option of the holder and not solely within the control of the issuer must be classified outside of shareholders’ equity. Accordingly, all noncontrolling interests that are redeemable at the option of the holder are presented outside of shareholders’ equity in the balance sheet.

In connection with the acquisition of certain subsidiaries, management of these businesses has retained an ownership interest. The Company is party to fair value put and call arrangements with respect to these interests. These put and call arrangements allow management of these businesses to require the Company to purchase their interests or allow the Company to acquire such interests at fair value, respectively. The put arrangements do not meet the definition of a derivative instrument as the put agreements do not provide for net settlement. These put and call arrangements become exercisable by the Company and the counter-party at various dates in the future. These put arrangements are exercisable by the counter-party outside the control of the Company. Accordingly, to the extent that the redemption amount of these interests exceeds the value determined by normal noncontrolling interest accounting, the value of such interests is adjusted to the redemption amount with a corresponding adjustment to additional paid-in capital. During the year ended December 31, 2021, the remaining redeemable non-controlling interest was exercised for which the Company had recorded an adjustment of $0.4 million to increase this interest to its redemption amount. Adjustments to this interest required high levels of judgment and were based on various valuation techniques, including market comparables and discounted cash flow projections.

Certain Risks and Concentrations

The Company’s business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud.

Financial instruments, which potentially subject the Company to concentration of credit risk, consist of cash and cash equivalents. Cash and cash equivalents are maintained with financial institutions and are in excess of any applicable third-party insurance limits, such as the Federal Deposit Insurance Corporation and the Securities Investor Protection Corporation.

Recent Accounting Pronouncements

Recent Accounting Pronouncements Adopted by the Company

There are no recently issued accounting pronouncements adopted by the Company during the year ended December 31, 2023.

Recent Accounting Pronouncements Not Yet Adopted by the Company

ASU 2023-07— Segment Reporting (Topic 280)— Improvements to Reportable Segment Disclosures

In November 2023, the FASB issued ASU 2023-07, which is intended to provide users of financial statements with more decision-useful information about reportable segments of a public business entity, primarily through enhanced disclosures of significant segment expenses. This ASU requires annual and interim disclosures of significant expenses that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss and an amount and description of its composition of other segment items. The provisions of this ASU also require entities to include all annual disclosures required by Topic 280 in the interim periods and permits entities to include multiple measures of a segment's profit or loss if such measures are used by the CODM to assess segment performance and determine allocation of resources, provided that at least one of those measures is determined in a way that is consistent with the measurement principles under GAAP. The amendments in ASU 2023-07 apply retrospectively and is effective for fiscal years beginning after December 15, 2023 and interim periods after December 15, 2024. Early adoption is permitted. The Company does not plan to early adopt and is currently assessing the impact of adopting the updated guidance on the financial statements.

ASU 2023-09— Income Taxes (Topic 740)— Improvements to Income Tax Disclosures

In December 2023, the FASB issued ASU 2023-09, which establishes required categories and a quantitative threshold to the annual tabular rate reconciliation disclosure and disaggregated jurisdictional disclosures of income taxes paid. The guidance’s annual requirements are effective for the Company beginning with the December 31, 2025 reporting period. Early adoption is permitted and prospective disclosure should be applied, however, retrospective disclosure is permitted. The Company is currently assessing the pronouncement and its impact on its income tax disclosures, but it does not impact the Company’s results of operations, financial condition, or cash flows.

GOODWILL AND INTANGIBLE ASSETS - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 886,047	$ 882,949	$ 916,039
Intangible assets with indefinite lives	170,773	170,147
Intangible assets with definite lives, net of accumulated amortization	0	7,958
Total goodwill and intangible assets, net	$ 1,056,820	$ 1,061,054

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

DISCONTINUED OPERATIONS - Components of Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Total current assets of discontinued operations	$ 0	$ 26,750
Non-current assets
Total non-current assets of discontinued operations	0	10,058
Current liabilities
Total current liabilities of discontinued operations	0	18,468
Non-current liabilities
Total non-current liabilities of discontinued operations	$ 0	919
Discontinued Operations, Disposed of by Sale \| Total Home Roofing
Current assets
Accounts receivable, net		21,913
Other current assets		4,837
Total current assets of discontinued operations		26,750
Non-current assets
Capitalized software, leasehold improvements and equipment, net		1,296
Deferred income taxes		7,082
Other non-current assets, net		1,680
Total non-current assets of discontinued operations		10,058
Current liabilities
Accounts payable		469
Deferred revenue		778
Accrued expenses and other current liabilities		17,221
Total current liabilities of discontinued operations		18,468
Non-current liabilities
Lease liability		919
Total non-current liabilities of discontinued operations		$ 919

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets with Definite Lives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Intangible assets with definite lives
Gross Carrying Amount	$ 89,229	$ 179,299
Accumulated Amortization	(89,229)	(171,341)
Total	$ 0	$ 7,958
Weighted-Average Useful Life (Years)	5 years 3 months 18 days	4 years 1 month 6 days
Amortization of Intangibles	$ 7,958	$ 13,774	$ 16,097
Technology
Intangible assets with definite lives
Gross Carrying Amount	82,234	82,114
Accumulated Amortization	(82,234)	(74,156)
Total	$ 0	$ 7,958
Weighted-Average Useful Life (Years)	5 years 6 months	5 years 6 months
Service professional relationships
Intangible assets with definite lives
Gross Carrying Amount	$ 5,619	$ 95,858
Accumulated Amortization	(5,619)	(95,858)
Total	$ 0	$ 0
Weighted-Average Useful Life (Years)	2 years 6 months	3 years
Service professional relationships \| Ads and Leads
Intangible assets with definite lives
Amortization of Intangibles	$ 90,500
Trade names
Intangible assets with definite lives
Gross Carrying Amount	1,376	$ 1,327
Accumulated Amortization	(1,376)	(1,327)
Total	$ 0	$ 0
Weighted-Average Useful Life (Years)	5 years	5 years

FINANCIAL STATEMENT DETAILS - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued expenses and other current liabilities:
Accrued employee compensation and benefits	$ 59,765	$ 48,990
Accrued advertising expense	25,648	40,312
Current legal liabilities	5,242	13,585
Current lease liabilities	17,797	16,328
Other	70,877	63,579
Accrued expenses and other current liabilities	$ 179,329	$ 182,794

STOCK-BASED COMPENSATION - SARs and Options (Details) - Stock Options and Stock Appreciation Rights - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares
Outstanding, beginning balance (shares)	1,087,000,000
Granted (shares)	0	0	0
Exercised (shares)	0
Forfeited (shares)	0
Expired (shares)	(192,000,000)
Outstanding, ending balance (shares)	895,000,000	1,087,000,000
Weighted Average Exercise Price
Outstanding, weighted average exercise price beginning balance (USD per share)	$ 9.26
Granted (USD per share)	0
Exercised (USD per share)	0
Forfeited (USD per share)	0
Expired (USD per share)	15.32
Outstanding, weighted average exercise price ending balance (USD per share)	$ 7.95	$ 9.26
Outstanding, Weighted average remaining contractual life (in years)	2 years 2 months 12 days
Outstanding, Aggregate intrinsic value (in USD)	$ 0
Exercisable, number exercisable at end of period (in shares)	895,000,000
Exercisable, weighted average exercise price at end of period (USD per share)	$ 7.95
Exercisable, weighted average remaining contractual life (in years)	2 years 2 months 12 days
Exercisable, aggregate intrinsic value at end of period (in USD)	$ 0

CONTINGENCIES	12 Months Ended
CONTINGENCIES	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIESIn the ordinary course of business, the Company is a party to various lawsuits. The Company establishes accruals for specific legal matters when it determines that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable. The total accrual for legal matters is $5.2 million and $13.5 million at December 31, 2023 and 2022, respectively. Management has also identified certain other legal matters where it believes an unfavorable outcome is not probable and, therefore, no accrual is established. Although management currently believes that resolving claims against the Company, including claims where an unfavorable outcome is reasonably possible and for which the Company cannot estimate a loss or range of loss, will not have a material impact on the liquidity, results of operations, or financial condition of the Company, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. The Company also evaluates other contingent matters, including uncertain income tax positions and non-income tax contingencies, to assess the likelihood of an unfavorable outcome and estimated extent of potential loss. It is possible that an unfavorable outcome of one or more of these lawsuits or other contingencies could have a material impact on the liquidity, results of operations, or financial condition of the Company. See “Note 12 —Income Taxes” for information related to uncertain income tax positions.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	$ 1,048,384,000
Balance at end of period	1,040,767,000	$ 1,048,384,000
Tax benefit or provision on accumulated other comprehensive loss	0	0	$ 0
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	(1,172,000)	3,309,000	4,637,000
Other comprehensive income (loss)	2,359,000	(4,481,000)	(1,328,000)
Balance at end of period	$ 1,187,000	$ (1,172,000)	$ 3,309,000

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

STOCK-BASED COMPENSATION - Outstanding Unvested RSUs, MSUs, and PSUs (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
RSUs
Number of Shares
Balance at beginning of the period (shares)	21,690,000
Granted (shares)	17,152,000
Vested (shares)	(5,991,000)
Forfeited (shares)	(5,853,000)
Balance at end of the period (shares)	26,998,000	21,690,000
Weighted Average Grant Date Fair Value
Balance at beginning of the period (USD per share)	$ 7.04
Granted (USD per share)	2.53	$ 4.95	$ 12.73
Vested (USD per share)	7.42
Forfeited (USD per share)	5.66
Balance at end of the period (USD per share)	$ 4.39	$ 7.04
MSUs
Number of Shares
Balance at beginning of the period (shares)	409,000
Granted (shares)	55,000
Vested (shares)	(1,000)
Forfeited (shares)	(358,000)
Balance at end of the period (shares)	105,000	409,000
Weighted Average Grant Date Fair Value
Balance at beginning of the period (USD per share)	$ 12.97
Granted (USD per share)	2.51	$ 6.39	14.39
Vested (USD per share)	12.83
Forfeited (USD per share)	12.49
Balance at end of the period (USD per share)	$ 3.35	$ 12.97
PSUs
Number of Shares
Balance at beginning of the period (shares)	507,000
Granted (shares)	0
Vested (shares)	0
Forfeited (shares)	(240,000)
Balance at end of the period (shares)	268,000	507,000
Weighted Average Grant Date Fair Value
Balance at beginning of the period (USD per share)	$ 3.14
Granted (USD per share)	0		$ 13.51
Vested (USD per share)	0
Forfeited (USD per share)	13.51
Balance at end of the period (USD per share)	$ 10.42	$ 3.14

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for credit losses
Movement in Valuation Allowances and Reserves
Balance at Beginning of Period	$ 38,846	$ 28,712	$ 26,046
Charges to Earnings	79,385	104,261	86,594
Charges to Other Accounts	171	110	92
Deductions	(93,718)	(94,237)	(84,020)
Balance at End of Period	24,684	38,846	28,712
Deferred tax valuation allowance
Movement in Valuation Allowances and Reserves
Balance at Beginning of Period	64,877	66,626	77,076
Charges to Earnings	9,891	1,795	(5,925)
Charges to Other Accounts	2,053	(3,544)	(4,525)
Deductions			0
Balance at End of Period	76,821	64,877	66,626
Other reserves
Movement in Valuation Allowances and Reserves
Balance at Beginning of Period	692	777	0
Balance at End of Period	$ 420	$ 692	$ 777

LEASES - Weighted-Average Remaining Term and Discount Rate (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Remaining lease term (in years)	4 years 4 months 24 days	5 years 3 months 18 days
Discount rate (percent)	6.59%	6.19%

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	New York, New York
Auditor Firm ID	42

SEGMENT INFORMATION - Revenue Disaggregated by Service (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenue	$ 1,358,748	$ 1,764,355	$ 1,619,317
Operating Segments \| International
Segment Reporting Information [Line Items]
Revenue	115,807	101,038	102,295
Domestic
Segment Reporting Information [Line Items]
Revenue	1,242,941	1,663,317	1,517,022
Domestic \| Operating Segments \| Ads and Leads
Segment Reporting Information [Line Items]
Revenue	1,124,908	1,282,061	1,227,074
Domestic \| Operating Segments \| Services
Segment Reporting Information [Line Items]
Revenue	118,033	381,256	289,948
Domestic \| Consumer connection revenue \| Operating Segments \| Ads and Leads
Segment Reporting Information [Line Items]
Revenue	781,089	954,735	898,422
Domestic \| Advertising revenue \| Operating Segments \| Ads and Leads
Segment Reporting Information [Line Items]
Revenue	290,799	265,466	252,206
Domestic \| Membership subscription revenue \| Operating Segments \| Ads and Leads
Segment Reporting Information [Line Items]
Revenue	52,305	60,411	68,062
Domestic \| Other revenue \| Operating Segments \| Ads and Leads
Segment Reporting Information [Line Items]
Revenue	715	1,449	8,384
International \| Operating Segments \| International
Segment Reporting Information [Line Items]
Revenue	115,807	101,038	102,295
International \| Consumer connection revenue \| Operating Segments \| International
Segment Reporting Information [Line Items]
Revenue	92,635	71,851	68,686
International \| Service professional membership subscription revenue \| Operating Segments \| International
Segment Reporting Information [Line Items]
Revenue	22,548	28,192	32,367
International \| Advertising and other revenue \| Operating Segments \| International
Segment Reporting Information [Line Items]
Revenue	$ 624	$ 995	$ 1,242

FINANCIAL STATEMENT DETAILS (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying balance sheet to the total amounts shown in the accompanying statement of cash flows:

Schedule of Cash and Cash Equivalents


	December 31,
	2023		2022		2021		2020
	(In thousands)
Cash and cash equivalents	$	364,044	$	321,155	$	428,136	$	812,705
Restricted cash included in other current assets	—		107		156		407
Restricted cash included in other non-current assets	257		371		693		449
Restricted cash included in other non-current assets of discontinued operations	—		503		500		—
Total cash and cash equivalents, and restricted cash as shown on the statement of cash flows	$	364,301	$	322,136	$	429,485	$	813,561

Schedule of Allowance for Credit Loss

The following table presents the changes in the allowance for credit loss for the years ended December 31, 2023 and 2022:


	December 31,
	2023		2022
	(In thousands)
Balance at January 1	$	38,846	$	28,712
Current period provision for credit losses	79,385		104,261
Write-offs charged against the allowance for credit loss	(98,649)		(99,469)
Recoveries collected	5,102		5,342
Balance at December 31	$	24,684	$	38,846

Schedule of Other Current Assets


	December 31,
	2023		2022
	(In thousands)
Other current assets:
Capitalized sales commissions	$	34,927	$	37,220
Prepaid expenses	21,485		23,997
Other	15,663		3,113
Other current assets	$	72,075	$	64,330

Schedule of Property and Equipment, Net


Asset Category						Estimated Useful Lives
Capitalized software and computer equipment						2 to 3 Years
Furniture and other equipment						5 to 7 Years
Leasehold improvements						5 to 25 Years


	December 31,
	2023		2022
	(In thousands)
Capitalized software, leasehold improvements and equipment, net:
Capitalized software and computer equipment	$	275,377	$	247,176
Leasehold improvements	27,140		27,780
Furniture and other equipment	10,387		10,819
Projects in progress	11,980		12,653
Capitalized software, leasehold improvements and equipment	324,884		298,428
Accumulated depreciation and amortization	(215,357)		(145,869)
Capitalized software, leasehold improvements and equipment, net	$	109,527	$	152,559

Schedule of Accrued Expenses and Other Current Liabilities


	December 31,
	2023		2022
	(In thousands)
Accrued expenses and other current liabilities:
Accrued employee compensation and benefits	$	59,765	$	48,990
Accrued advertising expense	25,648		40,312
Current lease liabilities	17,797		16,328
Current legal liabilities	5,242		13,585
Other	70,877		63,579
Accrued expenses and other current liabilities	$	179,329	$	182,794

Schedule of Other Expense, Net

Other income (expense), net


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Interest income		$	17,149	$	4,529	$	238
Foreign exchange gains (losses)		1,238		(3,364)		(1,656)
Loss on extinguishment of debt(a)		—		—		(1,110)
Gain on the sale of a business		—		—		31

Other		40		4		(13)
Other income (expense), net		$	18,427	$	1,169	$	(2,510)

(a) Represents the write-off of deferred debt issuance costs related to the ANGI Group Term Loan, which was repaid in its entirety during the second quarter of 2021.

Schedule of Cash Flow, Supplemental Disclosures

Supplemental Disclosure of Cash Flow Information:


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
Cash (paid) received during the year for:
Interest expense—third-party	$	(19,375)	$	(19,375)	$	(21,450)

Income tax payments, including amounts paid to IAC for Angi Inc.'s share of IAC's consolidated tax liability	$	(4,957)	$	(1,551)	$	(4,647)
Income tax refunds, including amounts received from IAC for Angi Inc.’s share of IAC's consolidated tax liability	$	282	$	396	$	587

FINANCIAL STATEMENT DETAILS - Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other current assets:
Capitalized sales commissions	$ 34,927	$ 37,220
Prepaid expenses	21,485	23,997
Other	15,663	3,113
Other current assets	$ 72,075	$ 64,330

LONG-TERM DEBT - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument
Less: unamortized debt issuance costs	$ 3,953	$ 4,716
Total long-term debt, net	496,047	495,284
3.875% Senior Notes \| Senior Notes
Debt Instrument
Total long-term debt	$ 500,000	$ 500,000
Interest rate, stated percentage	3.875%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table presents revenue by reportable segment:


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Revenue:
Domestic
Ads and Leads		$	1,124,908	$	1,282,061	$	1,227,074
Services		118,033		381,256		289,948
Total Domestic		1,242,941		1,663,317		1,517,022
International		115,807		101,038		102,295
Total		$	1,358,748	$	1,764,355	$	1,619,317

Schedule of Segmented Revenue Disaggregated by Service

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


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Domestic
Ads and Leads:
Consumer connection revenue		$	781,089	$	954,735	$	898,422
Advertising revenue		290,799		265,466		252,206
Membership subscription revenue		52,305		60,411		68,062
Other revenue		715		1,449		8,384
Total Ads and Leads revenue		1,124,908		1,282,061		1,227,074
Services revenue		118,033		381,256		289,948
Total Domestic revenue		1,242,941		1,663,317		1,517,022
International
Consumer connection revenue		92,635		71,851		68,686
Service professional membership subscription revenue		22,548		28,192		32,367
Advertising and other revenue		624		995		1,242
Total International revenue		115,807		101,038		102,295
Total revenue		$	1,358,748	$	1,764,355	$	1,619,317

Schedule of Revenue by Geographic Areas

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


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Revenue
United States		$	1,242,092	$	1,660,373	$	1,514,930
All other countries		116,656		103,982		104,387
Total		$	1,358,748	$	1,764,355	$	1,619,317

Schedule of Long-lived Assets by Geographic Areas


	December 31, 2023		December 31, 2022
	(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States	$	145,710	$	199,744
All other countries	9,788		9,128
Total	$	155,498	$	208,872

Schedule of Reconciliation of Adjusted EBITDA to Operating Income (Loss)

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


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Operating income (loss):
Ads and Leads		$	50,043	$	85,593	$	65,485
Services		(23,450)		(95,166)		(63,984)
Corporate		(61,377)		(61,794)		(56,196)
International		8,286		(4,253)		(13,222)
Total		$	(26,498)	$	(75,620)	$	(67,917)


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Adjusted EBITDA(a):
Ads and Leads		$	147,357	$	168,952	$	136,260
Services		8,123		(52,126)		(48,203)

Corporate		(50,076)		(49,866)		(46,066)
International		13,074		(481)		(6,615)
Total		$	118,478	$	66,479	$	35,376

(a) The Company’s primary financial measure and GAAP segment measure is Adjusted EBITDA, which is defined as operating income (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.

We consider operating income (loss) to be the financial measure calculated and presented in accordance with GAAP that is most directly comparable to our segment reporting performance measure, Adjusted EBITDA. The following tables reconcile operating income (loss) for the Company’s reportable segments and net loss attributable to Angi Inc. shareholders to Adjusted EBITDA:


	Year Ended December 31, 2023
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA(b)
	(In thousands)
Ads and Leads	$	50,043	$	23,145	$	66,211	$	7,958	$	147,357
Services	(23,450)		7,586		23,987		—		8,123
Corporate	(61,377)		11,301		—		—		(50,076)
International	8,286		1,382		3,406		—		13,074
Total	(26,498)		$	43,414	$	93,604	$	7,958	$	118,478
Interest expense	(20,137)
Other income, net	18,427
Loss from continuing operations before income taxes	(28,208)
Income tax provision	(1,839)
Net loss from continuing operations	(30,047)
Loss from discontinued operations, net of tax	(10,264)
Net loss	(40,311)
Net earnings attributable to noncontrolling interests	(629)
Net loss attributable to Angi Inc. shareholders	$	(40,940)


	Year Ended December 31, 2022
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA(b)
	(In thousands)
Ads and Leads	$	85,593	$	19,972	$	52,737	$	10,650	$	168,952
Services	(95,166)		18,012		21,904		3,124		(52,126)
Corporate	(61,794)		11,928		—		—		(49,866)
International	(4,253)		890		2,882		—		(481)
Total	(75,620)		$	50,802	$	77,523	$	13,774	$	66,479
Interest expense	(20,107)
Other income, net	1,169
Loss from continuing operations before income taxes	(94,558)
Income tax benefit	5,390
Net loss from continuing operations	(89,168)
Loss from discontinued operations, net of tax	(38,814)
Net loss	(127,982)
Net earnings attributable to noncontrolling interests	(468)
Net loss attributable to Angi Inc. shareholders	$	(128,450)


	Year Ended December 31, 2021
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
Ads and Leads	$	65,485	$	12,722	$	46,025	$	12,028	$	136,260
Services	(63,984)		4,672		7,049		4,060		(48,203)
Corporate	(56,196)		10,121		—		9		(46,066)
International	(13,222)		656		5,951		—		(6,615)
Total	(67,917)		$	28,171	$	59,025	$	16,097	$	35,376
Interest expense	(23,485)
Other expense, net	(2,510)
Loss from continuing operations before income taxes	(93,912)
Income tax benefit	29,894
Net loss from continuing operations	(64,018)
Loss from discontinued operations, net of tax	(6,476)
Net loss	(70,494)
Net earnings attributable to noncontrolling interests	(884)
Net loss attributable to Angi Inc. shareholders	$	(71,378)

Schedule of Capital Expenditures by Segment

The following table presents capital expenditures by reportable segment:


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
Capital expenditures:
Ads and Leads	$	44,692	$	76,786	$	50,026
Services	2,551		35,833		17,439
International	537		2,860		2,444
Total	$	47,780	$	115,479	$	69,909

GOODWILL AND INTANGIBLE ASSETS - Goodwill by Reporting Unit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill
Balance at beginning of period	$ 882,949	$ 916,039
Deductions		(816)
Reporting Unit Allocation Adjustment		(26,005)
Impairments		(26,005)
Foreign Currency Translation	3,098	(6,269)
Balance at end of period	886,047	882,949
Discontinued Operations, Disposed of by Sale \| Roofing
Goodwill
Reporting Unit Allocation Adjustment		26,005
Impairments		(26,005)
Ads and Leads
Goodwill
Balance at beginning of period	761,133	0
Deductions		0
Reporting Unit Allocation Adjustment		761,133
Foreign Currency Translation	0	0
Balance at end of period	761,133	761,133
Services
Goodwill
Balance at beginning of period	51,197	0
Deductions		0
Reporting Unit Allocation Adjustment		51,197
Foreign Currency Translation	0	0
Balance at end of period	51,197	51,197
International
Goodwill
Balance at beginning of period	70,619	0
Deductions		0
Reporting Unit Allocation Adjustment		64,799
Foreign Currency Translation	3,098	5,820
Balance at end of period	73,717	70,619
North America
Goodwill
Balance at beginning of period	0	843,193
Deductions		(816)
Reporting Unit Allocation Adjustment		(841,800)
Foreign Currency Translation		(577)
Balance at end of period		0
Europe
Goodwill
Balance at beginning of period	$ 0	72,846
Deductions		0
Reporting Unit Allocation Adjustment		(61,334)
Foreign Currency Translation		(11,512)
Balance at end of period		$ 0

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Total Angi Inc. Shareholders' Equity	Common Stock Class A Common Stock $0.001 Par Value	Common Stock Class B Convertible Common Stock $0.001 Par Value	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Noncontrolling Interests	Redeemable Noncontrolling Interests
Balance at beginning of period at Dec. 31, 2020										$ 26,364
Increase (Decrease) in Redeemable Noncontrolling Interests
Net (loss) earnings										(23)
Other comprehensive (income) loss										515
Purchase of redeemable noncontrolling interests										(28,318)
Adjustment of redeemable noncontrolling interests to redemption amount										1,462
Balance at end of period at Dec. 31, 2021										$ 0
Balance at beginning of period at Dec. 31, 2020	$ 1,282,857	$ 1,272,290	$ 94	$ 422	$ 1,379,469	$ 9,749	$ 4,637	$ (122,081)	$ 10,567
Balance at beginning of period (in shares) at Dec. 31, 2020			94,238	421,862
Increase (Decrease) in Shareholders' Equity
Net (loss) earnings	(70,471)	(71,378)				(71,378)			907
Other comprehensive income (loss)	(1,734)	(1,328)					(1,328)		(406)
Stock-based compensation expense	33,057	33,057			33,057
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(61,223)	(61,223)	$ 3		(61,226)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (in shares)			2,919
Issuance of common stock to IAC Inc. pursuant to the employee matters agreement	0		$ 3	$ 157	(3)
Issuance of common stock to IAC Inc. pursuant to the employee matters agreement (in shares)			2,588
Purchase of treasury stock	(35,959)	(35,959)						(35,959)
Purchase of noncontrolling interests	(160)								(160)
Adjustment to noncontrolling interests resulting from the reorganization of a foreign subsidiary	(430)	(430)			(430)
Other	(410)	(410)			(410)
Balance at end of period at Dec. 31, 2021	1,145,527	1,134,619	$ 100	$ 422	1,350,457	(61,629)	3,309	(158,040)	10,908
Balance at end of period (in shares) at Dec. 31, 2021			99,745	422,019
Increase (Decrease) in Shareholders' Equity
Net (loss) earnings	(127,982)	(128,450)				(128,450)			468
Other comprehensive income (loss)	(5,028)	(4,481)					(4,481)		(547)
Stock-based compensation expense	55,891	55,891			55,891
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(8,627)	(8,627)	$ 3		(8,630)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (in shares)			3,066
Purchase of treasury stock	(8,144)	(8,144)						(8,144)
Adjustment to noncontrolling interests resulting from the reorganization of a foreign subsidiary	(255)	7,580			7,580				(7,835)
Other	(4)	(4)			(4)
Balance at end of period at Dec. 31, 2022	1,051,378	1,048,384	$ 103	$ 422	1,405,294	(190,079)	(1,172)	(166,184)	2,994
Balance at end of period (in shares) at Dec. 31, 2022			102,811	422,019
Increase (Decrease) in Shareholders' Equity
Net (loss) earnings	(40,311)	(40,940)				(40,940)			629
Other comprehensive income (loss)	2,501	2,359					2,359		142
Stock-based compensation expense	48,388	48,388			48,388
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(6,288)	(6,288)	$ 4		(6,292)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (in shares)			4,037
Purchase of treasury stock	(11,099)	(11,099)						(11,099)
Other	(61)	(37)			(37)				(24)
Balance at end of period at Dec. 31, 2023	$ 1,044,508	$ 1,040,767	$ 107	$ 422	$ 1,447,353	$ (231,019)	$ 1,187	$ (177,283)	$ 3,741
Balance at end of period (in shares) at Dec. 31, 2023			106,848	422,019

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Total	$ 290,693	$ 213,961
Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Total	215,891	189,000
Significant Other Observable Inputs (Level 2)
Assets:
Total	74,802	24,961
Significant Unobservable Inputs (Level 3)
Assets:
Total	0	0
Money market funds
Assets:
Cash equivalents	215,891	189,000
Money market funds \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents	215,891	189,000
Money market funds \| Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	0	0
Money market funds \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	0	0
Treasury discount notes
Assets:
Cash equivalents	74,802	24,961
Treasury discount notes \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents	0	0
Treasury discount notes \| Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	74,802	24,961
Treasury discount notes \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$ 0	$ 0

RELATED PARTY TRANSACTIONS WITH IAC	12 Months Ended
RELATED PARTY TRANSACTIONS WITH IAC	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS WITH IAC	RELATED PARTY TRANSACTIONS WITH IAC Allocation of CEO Compensation and Certain Expenses Joseph Levin, CEO of IAC and Chairman of Angi, was appointed CEO of Angi on October 10, 2022. For the year ended December 31, 2023 and for the period from October 10, 2022 to December 31, 2022, IAC allocated $9.4 million and $2.1 million, respectively, in costs to Angi (including salary, benefits, stock-based compensation and costs related to the CEO’s office). These costs were allocated from IAC based upon time spent on Angi by Mr. Levin. Management considers the allocation method to be reasonable. The allocated costs also include costs directly attributable to the Company that were initially paid for by IAC and billed by IAC to the Company. The Combination and Related Agreements The Company and IAC, in connection with the Combination, entered into a contribution agreement; an investor rights agreement; a services agreement; a tax sharing agreement; and an employee matters agreement, which collectively govern the relationship between IAC and Angi Inc. Contribution Agreement The contribution agreement sets forth the agreements between the Company and IAC regarding the principal transactions necessary for IAC to separate the Angi business from IAC's other businesses, as well as governs certain aspects of our relationship. Under the contribution agreement, the Company agreed to assume all of the assets and liabilities related to the Angi business and agreed to indemnify IAC against any losses arising out of any breach by the Company of the contribution agreement or the other transaction related agreements described below. IAC also agreed to indemnify the Company against any losses arising out of any breach by IAC of the contribution agreement or any of the other transaction related agreements described below. Investor Rights Agreement The investor rights agreement provides IAC with certain registration, preemptive, and governance rights related to the Company and the shares of its capital stock it holds, as well as certain governance rights for the benefit of stockholders other than IAC. Services Agreement The services agreement governs services that IAC provides to the Company including, among others: (i) assistance with certain legal, M&A, finance, risk management, internal audit and treasury functions, health and welfare benefits, information security services and insurance and tax affairs, including assistance with certain public company and unclaimed property reporting obligations and (ii) accounting, investor relations services, and tax compliance services. The services agreement automatically renews annually for an additional one-year period for so long as IAC continues to own a majority of the outstanding shares of the Company’s common stock. For the years ended December 31, 2023, 2022 and 2021, the Company was charged $6.4 million, $3.8 million and $3.9 million, respectively, by IAC for services rendered pursuant to the services agreement. There were no outstanding payables pursuant to the services agreement as of December 31, 2023. There was $0.8 million in outstanding payables pursuant to the services agreement as of December 31, 2022. Tax Sharing Agreement The tax sharing agreement governs the rights, responsibilities, and obligations of the Company and IAC with respect to tax liabilities and benefits, entitlements to refunds, preparation of tax returns, tax contests and other tax matters regarding U.S. federal, state, local and foreign income taxes. Under the tax sharing agreement, the Company is generally responsible and required to indemnify IAC for: (i) all taxes imposed with respect to any consolidated, combined or unitary tax return of IAC or its subsidiaries that includes the Company or any of its subsidiaries to the extent attributable to the Company or any of its subsidiaries, as determined under the tax sharing agreement, and (ii) all taxes imposed with respect to any of the Company's or its subsidiaries’ consolidated, combined, unitary or separate tax returns. At December 31, 2023 and 2022, the Company had outstanding payables of $2.1 million and $1.4 million, respectively, due to IAC pursuant to the tax sharing agreement, which are included in “Accrued expenses and other current liabilities,” in the balance sheet. There were no payments to or refunds from IAC pursuant to this agreement during the years ended December 31, 2023 and 2022. There were $1.5 million of payments to IAC pursuant to this agreement during the year ended December 31, 2021. Employee Matters Agreement The employee matters agreement addresses certain compensation (including stock-based compensation) and benefit issues related to the allocation of liabilities associated with: (i) employment or termination of employment, (ii) employee benefit plans and (iii) equity awards. Under the employee matters agreement, the Company's employees participate in IAC’s U.S. health and welfare plans, 401(k) plan and flexible benefits plan and the Company reimburses IAC for the costs of such participation. In the event IAC no longer retains shares representing at least 80% of the aggregate voting power of shares entitled to vote in the election of the Company’s Board of Directors, Angi will no longer participate in IAC’s employee benefit plans, but will establish its own employee benefit plans that will be substantially similar to the plans sponsored by IAC prior to the Combination. In addition, the employee matters agreement requires the Company to reimburse IAC for the cost of any IAC equity awards held by Angi current and former employees, with IAC having the ability to elect to receive payment in cash or shares of our Class B common stock. This agreement also provides that IAC has the ability to require that stock appreciation rights granted prior to the closing of the Combination and equity awards denominated in shares of our subsidiaries to be settled in either shares of our Class A common stock or IAC common stock. To the extent that shares of IAC common stock are issued in settlement of these awards, the Company is obligated to reimburse IAC for the cost of those shares by issuing shares of our Class A common stock in the case of stock appreciation rights granted prior to the closing of the Combination and shares of our Class B common stock in the case of equity awards denominated in shares of our subsidiaries. Lastly, pursuant to the employee matters agreement, in the event of a distribution of Angi Inc. capital stock to IAC stockholders in a transaction intended to qualify as tax-free for U.S. federal income tax purposes, the Compensation and Human Capital Committee of the IAC Board of Directors has the exclusive authority to determine the treatment of outstanding IAC equity awards. Such authority includes (but is not limited to) the ability to convert all or part of IAC equity awards outstanding immediately prior to the distribution into equity awards denominated in shares of our Class A Common Stock, which we would be obligated to assume and which would be dilutive to our stockholders. During the years ended December 31, 2023 and 2022, there have been no IAC equity awards held by Angi Inc. employees exercised or vested, and no exercises and settlements of stock appreciation rights, that would require, pursuant to the employee matters agreement, reimbursement to IAC in Class A and Class B common stock. During the year ended December 31, 2021, pursuant to the employee matters agreement, 2.6 million shares of Class A common stock were issued to a subsidiary of IAC as reimbursement for IAC common stock issued in connection with the exercise and settlement of certain stock appreciation rights and 0.2 million shares of Angi Inc. Class B common stock were issued to a subsidiary of IAC as reimbursement for shares of IAC common stock in connection with the exercise and vesting of IAC equity awards held by Angi Inc. employees. Other Arrangements Additionally, the Company subleases office space to IAC and charged rent pursuant to a lease agreement of $0.6 million, $1.7 million, and $1.6 million for the years ended December 31, 2023, 2022, and 2021, respectively. IAC subleases office space to the Company and charged rent pursuant to a lease agreement of $1.3 million, $1.3 million, and $0.6 million for the years ended December 31, 2023, 2022 and 2021, respectively. At December 31, 2023, the Company has an outstanding receivable of $0.3 million due from IAC pursuant to the sublease agreements. This amount is included in “Other non-current assets” in the balance sheet. At December 31, 2022, there were no outstanding receivables due from IAC or payables due to IAC pursuant to the sublease agreements. The Company incurred advertising expense of $6.5 million, $7.0 million, and $1.0 million for the years ended December 31, 2023, 2022 and 2021, respectively, related to advertising and audience targeted advertising purchased from another IAC owned business. At December 31, 2023 and December 31, 2022, there were related outstanding payables of $2.2 million and $1.1 million, respectively, included in “Accrued expenses and other current liabilities” in the balance sheet.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Class A Common Stock $0.001 Par Value
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Class B Convertible Common Stock $0.001 Par Value
Common stock, par value (USD per share)	0.001	0.001
Class C Common Stock $0.001 Par Value
Common stock, par value (USD per share)	$ 0.001	$ 0.001

CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Treasury stock (in shares)	24,640,000	20,211,000
Class A Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	2,000,000,000	2,000,000,000
Common stock issued (in shares)	106,848,000	102,811,000
Common stock outstanding (in shares)	82,208,000	82,600,000
Class B Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	1,500,000,000	1,500,000,000
Common stock issued (in shares)	422,019,000	422,019,000
Common stock outstanding (in shares)	422,019,000	422,019,000
Class C Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	1,500,000,000	1,500,000,000
Common stock issued (in shares)	0	0
Common stock outstanding (in shares)	0	0

FINANCIAL STATEMENT DETAILS - Allowance for Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1	$ 38,846	$ 28,712
Current period provision for credit losses	79,385	104,261
Write-offs charged against the allowance for credit losses	(98,649)	(99,469)
Recoveries collected	5,102	5,342
Balance at December 31	$ 24,684	$ 38,846

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities attributable to continuing operations:
Net loss	$ (40,311)	$ (127,982)	$ (70,494)
Less: Loss from discontinued operations, net of tax	(10,264)	(38,814)	(6,476)
Net loss attributable to continuing operations	(30,047)	(89,168)	(64,018)
Adjustments to reconcile net loss to net cash provided by operating activities attributable to continuing operations:
Depreciation	93,604	77,523	59,025
Provision for credit losses	79,385	104,261	86,594
Stock-based compensation expense	43,414	50,802	28,171
Non-cash lease expense (including impairment of right-of-use assets)	11,878	13,799	20,484
Amortization of intangibles	7,958	13,774	16,097
Deferred income taxes	(10,009)	(9,758)	(34,217)
Foreign currency transaction (gain) loss	(1,291)	3,357	1,679
Other adjustments, net	232	(811)	8,262
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable	(58,168)	(111,865)	(106,966)
Other assets	(13,852)	(658)	5,600
Accounts payable and other liabilities	(8,045)	11,632	21,737
Operating lease liabilities	(20,678)	(16,733)	(16,644)
Income taxes payable and receivable	158	3,213	263
Deferred revenue	(355)	(2,966)	(1,491)
Net cash provided by operating activities attributable to continuing operations	94,184	46,402	24,576
Cash flows from investing activities attributable to continuing operations:
Capital expenditures	(47,780)	(115,479)	(69,909)
Purchases of marketable debt securities	(12,362)	0	0
Proceeds from maturities of marketable debt securities	12,500	0	50,000
Net proceeds from the sale of a business	1,000	0	750
Proceeds from sales of fixed assets	85	162	0
Other	0	0	(253)
Net cash used in investing activities attributable to continuing operations	(46,557)	(115,317)	(19,412)
Cash flows from financing activities attributable to continuing operations:
Principal payments on Term Loan	0	0	(220,000)
Purchases of treasury stock	(10,932)	(8,144)	(35,403)
Withholding taxes paid on behalf of employees on net settled stock-based awards	(5,994)	(8,827)	(61,908)
Purchase of noncontrolling interests	0	0	(27,857)
Other, net	(57)	(256)	0
Net cash used in financing activities attributable to continuing operations	(16,983)	(17,227)	(345,168)
Total cash provided by (used in) continuing operations	30,644	(86,142)	(340,004)
Net cash provided by (used in) operating activities attributable to discontinued operations	10,661	(19,333)	(18,367)
Net cash provided by (used in) investing activities attributable to discontinued operations	325	(769)	(25,660)
Total cash provided by (used in) discontinued operations	10,986	(20,102)	(44,027)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	535	(1,105)	(45)
Net increase (decrease) in cash and cash equivalents and restricted cash	42,165	(107,349)	(384,076)
Cash and cash equivalents and restricted cash at beginning of period	322,136	429,485	813,561
Cash and cash equivalents and restricted cash at end of period	$ 364,301	$ 322,136	$ 429,485

SEGMENT INFORMATION - Revenue and Long-Lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue and Long-lived Assets by Geography
Revenue	$ 1,358,748	$ 1,764,355	$ 1,619,317
Long-lived assets (excluding goodwill and intangible assets)	155,498	208,872
United States
Revenue and Long-lived Assets by Geography
Revenue	1,242,092	1,660,373	1,514,930
Long-lived assets (excluding goodwill and intangible assets)	145,710	199,744
All other countries
Revenue and Long-lived Assets by Geography
Revenue	116,656	103,982	$ 104,387
Long-lived assets (excluding goodwill and intangible assets)	$ 9,788	$ 9,128

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

LONG-TERM DEBT

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consists of:


	December 31, 2023		December 31, 2022
	(In thousands)
3.875% ANGI Group Senior Notes due August 15, 2028 (“ANGI Group Senior Notes”); interest payable each February 15 and August 15	$	500,000	$	500,000



Less: unamortized debt issuance costs	3,953		4,716
Total long-term debt, net	$	496,047	$	495,284

ANGI Group Senior Notes

ANGI Group, LLC (“ANGI Group”), a direct wholly-owned subsidiary of Angi Inc., issued the ANGI Group Senior Notes were issued on August 20, 2020. These notes may be redeemed at the redemption prices set forth below, plus accrued and unpaid interest thereon, if any, to the applicable redemption date, if redeemed during the twelve-month period beginning on August 15 of the years indicated below:


Year	Percentage
2023	101.938	%
2024	100.969	%
2025 and thereafter	100.000	%

The indenture governing the ANGI Group Senior Notes contains a covenant that would limit ANGI Group’s ability to incur liens for borrowed money in the event a default has occurred or ANGI Group’s secured leverage ratio exceeds 3.75 to 1.0, provided that ANGI Group is permitted to incur such liens under certain permitted credit facilities indebtedness notwithstanding the ratio, all as defined in the indenture. At December 31, 2023, there were no limitations pursuant thereto.

ANGI Group Revolving Facility

The $250 million ANGI Group Revolving Facility, which otherwise would have expired on November 5, 2023, was terminated effective August 3, 2021. No amounts were ever drawn under the ANGI Group Revolving Facility prior to its termination.

ANGI Group Term Loan

During 2021, ANGI Group prepaid the remaining balance of $220.0 million of the ANGI Group Term Loan principal, which otherwise would have matured on November 5, 2023.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Nature of Operations

The Company has three operating segments: (i) Ads and Leads; (ii) Services; and (iii) International (consisting of businesses in Europe and Canada) and operates under multiple brands including Angi, HomeAdvisor, and Handy.

Ads and Leads provides service professionals the capability to engage with potential customers, including quote and invoicing services, and provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals nationwide for home repair, maintenance and improvement projects. Services consumers can request household services directly through the Angi platform and Angi fulfills the request through the use of independently established home services providers engaged in a trade, occupation and/or business that customarily provides such services. The matching and pre-priced booking services and related tools and directories are provided to consumers free of charge.

As used herein, “Angi,” the “Company,” “we,” “our,” “us,” and similar terms refer to Angi Inc. and its subsidiaries (unless the context requires otherwise).

At December 31, 2023, IAC Inc. (“IAC”) owned 84.2% and 98.1% of the economic and voting interests, respectively, of the Company.

Basis of Presentation and Consolidation

Accounting Estimates

Revenue Recognition

The Company’s disaggregated revenue disclosures are presented in “Note 9—Segment Information.”

Ads and Leads Revenue

Services Revenue

International Revenue

International revenue primarily comprises consumer connection revenue for consumer matches and membership subscription revenue from service professionals and consumers.

Transaction Price

Arrangements with Multiple Performance Obligations

Practical Expedients and Exemptions

accounted for under the series guidance, and (iii) contracts for which the Company recognizes revenue at the amount which we have the right to invoice for services performed.

The Company also applies the practical expedient for sales commissions where the anticipated customer relationship period is one year or less as noted below.

Costs to Obtain a Contract with a Customer

The following table presents the capitalized sales commissions balances and balance sheet classification at the balance sheet dates:


Classification	December 31, 2023		December 31, 2022
	(In thousands)
Other current assets	$	34,927	$	37,220
Other non-current assets	$	3,528	$	1,904

During the years ended December 31, 2023 and 2022, the Company recognized expense of $61.4 million and $77.4 million, respectively, related to the amortization of these capitalized costs.

Accounts Receivable, Net of the Allowance for Credit Losses

Deferred Revenue

Fair Value Measurements

•Level 1: Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets.

Cash and Cash Equivalents

Investment in Marketable Debt Securities

Investments in Marketable Debt Securities

Capitalized Software, Leasehold Improvements and Equipment


Asset Category						Estimated Useful Lives
Capitalized software and computer equipment						2 to 3 Years
Furniture and other equipment						5 to 7 Years
Leasehold improvements						5 to 25 Years

Business Combinations

Goodwill and Indefinite-Lived Intangible Assets

•The Company considered the strong forecasted operating performance, in addition to actual operating results in the current year, of the Ads and Leads, Services, and International reporting units.

Based on these factors we concluded that it is not more likely than not that the fair value of the reporting units is below their respective carrying amounts.

As of October 1, 2023, prior to its sale on November 1, 2023, the Roofing reporting unit had no goodwill or indefinite-lived intangible assets.

Long-Lived Assets

Advertising Costs

Legal Costs

Legal costs, other than certain costs incurred to obtain financing, are expensed as incurred.

Debt Issuance Costs

Income Taxes

Earnings Per Share

Foreign Currency Translation and Transaction Gains and Losses

Stock-Based Compensation

Stock-based compensation is measured at the grant date based on the fair value of the award and is expensed over the requisite service period.

Redeemable Noncontrolling Interests

Certain Risks and Concentrations

Recent Accounting Pronouncements

Recent Accounting Pronouncements Adopted by the Company

There are no recently issued accounting pronouncements adopted by the Company during the year ended December 31, 2023.

Recent Accounting Pronouncements Not Yet Adopted by the Company

ASU 2023-07— Segment Reporting (Topic 280)— Improvements to Reportable Segment Disclosures

ASU 2023-09— Income Taxes (Topic 740)— Improvements to Income Tax Disclosures

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Deferred tax asset payable to parent	$ 92,900,000
Income tax benefit related to net operating losses	500,000
Deferred tax assets	288,520,000	$ 274,470,000
Deferred tax assets, valuation allowance	76,821,000	64,877,000
Unrecognized tax (benefit), accruals for interest and penalties	0	0
Unrecognized tax benefits including tax interest accrued	8,100,000	6,200,000
Unrecognized tax benefits that if subsequently recognized would reduce income tax expense	7,600,000	$ 5,800,000
Decrease in unrecognized tax benefits is reasonably possible	200,000
Federal Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	480,900,000
Operating loss carryforwards not subject to expiration	214,200,000
Operating loss carryforwards subject to expiration	266,700,000
Operating loss carryforwards not subject to limitation	396,600,000
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	431,000,000
Operating loss carryforwards not subject to expiration	25,500,000
Operating loss carryforwards subject to expiration	405,500,000
Operating loss carryforwards not subject to limitation	331,300,000
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards not subject to expiration	317,500,000
Operating loss carryforwards subject to expiration	12,400,000
Operating loss carryforwards available to offset future income	329,900,000
Valuation allowance, increase (decrease), amount	11,900,000
Federal and State Tax Credits
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	34,100,000
Tax credit carryforwards not subject to expiration	1,700,000
Tax credit carryforwards, subject to expiration	32,400,000
Deferred tax assets	$ 209,600,000

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables present the components of accumulated other comprehensive income (loss), which exclusively consists of foreign currency translation adjustment:


	Years Ended December 31,
	2023		2022		2021

	(In thousands)
Balance at January 1	$	(1,172)	$	3,309	$	4,637
Other comprehensive income (loss)	2,359		(4,481)		(1,328)
Balance at December 31	$	1,187	$	(1,172)	$	3,309

LOSS PER SHARE - Summary (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net loss attributable to continuing operations	$ (30,047)	$ (89,168)	$ (64,018)
Net earnings attributable to noncontrolling interests	(629)	(468)	(884)
Net loss from continuing operations attributable to Angi Inc. Class A and Class B Common Stock shareholders	(30,676)	(89,636)	(64,902)
Loss from discontinued operations, net of tax	(10,264)	(38,814)	(6,476)
Net loss attributable to Angi Inc. shareholders	$ (40,940)	$ (128,450)	$ (71,378)
Weighted average basic Class A and Class B common stock shares outstanding, basic (in shares)	505,900	503,008	502,761
Dilutive securities (in shares)	0	0	0
Denominator for loss per share - weighted average shares, diluted (shares)	505,900	503,008	502,761
Loss per share:
Loss per share from continuing operations, Basic (USD per share)	$ (0.06)	$ (0.18)	$ (0.13)
Loss per share from continuing operations, Diluted (USD per share)	(0.06)	(0.18)	(0.13)
Loss per share from discontinued operations, net of tax, Basic (USD per share)	(0.02)	(0.08)	(0.01)
Loss per share from discontinued operations, net of tax, Diluted (USD per share)	(0.02)	(0.08)	(0.01)
Loss per share attributable to Angi Inc. Class A and Class B Common Stock shareholders, Basic (USD per share)	(0.08)	(0.26)	(0.14)
Loss per share attributable to Angi Inc. Class A and Class B Common Stock shareholders, Diluted (USD per share)	$ (0.08)	$ (0.26)	$ (0.14)
Stock Options and Subsidiary Denominated Equity and Vesting of Restricted Common Stock, Restricted Stock Units (RSU's)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from calculation of diluted earnings per share (shares)	28,500	23,600	17,500
Market-based Awards and PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from calculation of diluted earnings per share (shares)	500	800	2,200

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

The overall concept that the Company employs in determining its operating segments is to present the financial information in a manner consistent with the CODM’s view of the businesses. In addition, 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:


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Revenue:
Domestic
Ads and Leads		$	1,124,908	$	1,282,061	$	1,227,074
Services		118,033		381,256		289,948
Total Domestic		1,242,941		1,663,317		1,517,022
International		115,807		101,038		102,295
Total		$	1,358,748	$	1,764,355	$	1,619,317

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


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Domestic
Ads and Leads:
Consumer connection revenue		$	781,089	$	954,735	$	898,422
Advertising revenue		290,799		265,466		252,206
Membership subscription revenue		52,305		60,411		68,062
Other revenue		715		1,449		8,384
Total Ads and Leads revenue		1,124,908		1,282,061		1,227,074
Services revenue		118,033		381,256		289,948
Total Domestic revenue		1,242,941		1,663,317		1,517,022
International
Consumer connection revenue		92,635		71,851		68,686
Service professional membership subscription revenue		22,548		28,192		32,367
Advertising and other revenue		624		995		1,242
Total International revenue		115,807		101,038		102,295
Total revenue		$	1,358,748	$	1,764,355	$	1,619,317

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


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Revenue
United States		$	1,242,092	$	1,660,373	$	1,514,930
All other countries		116,656		103,982		104,387
Total		$	1,358,748	$	1,764,355	$	1,619,317


	December 31, 2023		December 31, 2022
	(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States	$	145,710	$	199,744
All other countries	9,788		9,128
Total	$	155,498	$	208,872

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


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Operating income (loss):
Ads and Leads		$	50,043	$	85,593	$	65,485
Services		(23,450)		(95,166)		(63,984)
Corporate		(61,377)		(61,794)		(56,196)
International		8,286		(4,253)		(13,222)
Total		$	(26,498)	$	(75,620)	$	(67,917)


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Adjusted EBITDA(a):
Ads and Leads		$	147,357	$	168,952	$	136,260
Services		8,123		(52,126)		(48,203)

Corporate		(50,076)		(49,866)		(46,066)
International		13,074		(481)		(6,615)
Total		$	118,478	$	66,479	$	35,376


	Year Ended December 31, 2023
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA(b)
	(In thousands)
Ads and Leads	$	50,043	$	23,145	$	66,211	$	7,958	$	147,357
Services	(23,450)		7,586		23,987		—		8,123
Corporate	(61,377)		11,301		—		—		(50,076)
International	8,286		1,382		3,406		—		13,074
Total	(26,498)		$	43,414	$	93,604	$	7,958	$	118,478
Interest expense	(20,137)
Other income, net	18,427
Loss from continuing operations before income taxes	(28,208)
Income tax provision	(1,839)
Net loss from continuing operations	(30,047)
Loss from discontinued operations, net of tax	(10,264)
Net loss	(40,311)
Net earnings attributable to noncontrolling interests	(629)
Net loss attributable to Angi Inc. shareholders	$	(40,940)


	Year Ended December 31, 2022
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA(b)
	(In thousands)
Ads and Leads	$	85,593	$	19,972	$	52,737	$	10,650	$	168,952
Services	(95,166)		18,012		21,904		3,124		(52,126)
Corporate	(61,794)		11,928		—		—		(49,866)
International	(4,253)		890		2,882		—		(481)
Total	(75,620)		$	50,802	$	77,523	$	13,774	$	66,479
Interest expense	(20,107)
Other income, net	1,169
Loss from continuing operations before income taxes	(94,558)
Income tax benefit	5,390
Net loss from continuing operations	(89,168)
Loss from discontinued operations, net of tax	(38,814)
Net loss	(127,982)
Net earnings attributable to noncontrolling interests	(468)
Net loss attributable to Angi Inc. shareholders	$	(128,450)


	Year Ended December 31, 2021
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
Ads and Leads	$	65,485	$	12,722	$	46,025	$	12,028	$	136,260
Services	(63,984)		4,672		7,049		4,060		(48,203)
Corporate	(56,196)		10,121		—		9		(46,066)
International	(13,222)		656		5,951		—		(6,615)
Total	(67,917)		$	28,171	$	59,025	$	16,097	$	35,376
Interest expense	(23,485)
Other expense, net	(2,510)
Loss from continuing operations before income taxes	(93,912)
Income tax benefit	29,894
Net loss from continuing operations	(64,018)
Loss from discontinued operations, net of tax	(6,476)
Net loss	(70,494)
Net earnings attributable to noncontrolling interests	(884)
Net loss attributable to Angi Inc. shareholders	$	(71,378)

The following table presents capital expenditures by reportable segment:


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
Capital expenditures:
Ads and Leads	$	44,692	$	76,786	$	50,026
Services	2,551		35,833		17,439
International	537		2,860		2,444
Total	$	47,780	$	115,479	$	69,909

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

ANGI INC. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS


Description	Balance at Beginning of Period		Charges to Earnings			Charges to Other Accounts			Deductions			Balance at End of Period
	(In thousands)
2023
Allowance for credit losses	$	38,846	$	79,385	(a)	$	171		$	(93,718)	(b)	$	24,684
Deferred tax valuation allowance	64,877		9,891		(c)	2,053		(d)				76,821
Other reserves	692											420

2022
Allowance for credit losses	$	28,712	$	104,261	(a)	$	110		$	(94,237)	(b)	$	38,846
Deferred tax valuation allowance	66,626		1,795		(e)	(3,544)		(d)				64,877
Other reserves	777											692

2021
Allowance for credit losses	$	26,046	$	86,594	(a)	$	92		$	(84,020)	(b)	$	28,712
Deferred tax valuation allowance	77,076		(5,925)		(f)	(4,525)		(d)	—			66,626
Other reserves	—											777

_________________________________________________________

(a) Additions to the credit loss reserve are charged to expense.

(b) Write-off of fully reserved accounts receivable balance, net of recoveries.

(d) Amount is primarily related to currency translation adjustments on foreign NOLs.

(e) Amount is primarily related to a net decrease in foreign NOLs partially offset by an increase in unbenefited capital losses and state tax attributes.

(f) Amount is primarily related to a decrease in state and foreign NOLs.

FINANCIAL STATEMENT DETAILS - Other Income (Expense), Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest income	$ 17,149	$ 4,529	$ 238
Foreign exchange gains (losses)	1,238	(3,364)	(1,656)
Loss on extinguishment of debt	0	0	(1,110)
Gain on the sale of a business	0	0	31
Other	40	4	(13)
Other income (expense), net	$ 18,427	$ 1,169	$ (2,510)

SEGMENT INFORMATION - Capital Expenditures by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Capital expenditures	$ 47,780	$ 115,479	$ 69,909
Ads and Leads
Segment Reporting Information [Line Items]
Capital expenditures	44,692	76,786	50,026
Services
Segment Reporting Information [Line Items]
Capital expenditures	2,551	35,833	17,439
International
Segment Reporting Information [Line Items]
Capital expenditures	$ 537	$ 2,860	$ 2,444

FINANCIAL STATEMENT DETAILS

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

FINANCIAL STATEMENT DETAILS

Cash and Cash Equivalents and Restricted Cash


	December 31,
	2023		2022		2021		2020
	(In thousands)
Cash and cash equivalents	$	364,044	$	321,155	$	428,136	$	812,705
Restricted cash included in other current assets	—		107		156		407
Restricted cash included in other non-current assets	257		371		693		449
Restricted cash included in other non-current assets of discontinued operations	—		503		500		—
Total cash and cash equivalents, and restricted cash as shown on the statement of cash flows	$	364,301	$	322,136	$	429,485	$	813,561

Restricted cash included in “Other current assets” in the balance sheet at December 31, 2022 primarily consisted of cash reserved to fund insurance claims.

Restricted cash included in “Other current assets” in the balance sheet at December 31, 2021 primarily consisted of funds collected from service providers for disputed payments which were not settled as of the period end in addition to cash reserved to fund insurance claims.

Restricted cash included in “Other current assets” in the balance sheet at December 31, 2020 primarily consists of cash received from customers at Angi Inc. through the Handy platform, representing funds collected for payment to service providers, which were not settled as of the period end.

Restricted cash included in “Other non-current assets” in the balance sheets for all periods presented above primarily consisted of deposits related to leases. Restricted cash included in “Other non-current assets” in the balance sheet at December 31, 2020 also included cash reserved to fund consumer claims.

Credit Losses

The following table presents the changes in the allowance for credit loss for the years ended December 31, 2023 and 2022:


	December 31,
	2023		2022
	(In thousands)
Balance at January 1	$	38,846	$	28,712
Current period provision for credit losses	79,385		104,261
Write-offs charged against the allowance for credit loss	(98,649)		(99,469)
Recoveries collected	5,102		5,342
Balance at December 31	$	24,684	$	38,846


	December 31,
	2023		2022
	(In thousands)
Other current assets:
Capitalized sales commissions	$	34,927	$	37,220
Prepaid expenses	21,485		23,997
Other	15,663		3,113
Other current assets	$	72,075	$	64,330


	December 31,
	2023		2022
	(In thousands)
Capitalized software, leasehold improvements and equipment, net:
Capitalized software and computer equipment	$	275,377	$	247,176
Leasehold improvements	27,140		27,780
Furniture and other equipment	10,387		10,819
Projects in progress	11,980		12,653
Capitalized software, leasehold improvements and equipment	324,884		298,428
Accumulated depreciation and amortization	(215,357)		(145,869)
Capitalized software, leasehold improvements and equipment, net	$	109,527	$	152,559


	December 31,
	2023		2022
	(In thousands)
Accrued expenses and other current liabilities:
Accrued employee compensation and benefits	$	59,765	$	48,990
Accrued advertising expense	25,648		40,312
Current lease liabilities	17,797		16,328
Current legal liabilities	5,242		13,585
Other	70,877		63,579
Accrued expenses and other current liabilities	$	179,329	$	182,794

Other income (expense), net


	Years Ended December 31,
		2023		2022		2021
		(In thousands)
Interest income		$	17,149	$	4,529	$	238
Foreign exchange gains (losses)		1,238		(3,364)		(1,656)
Loss on extinguishment of debt(a)		—		—		(1,110)
Gain on the sale of a business		—		—		31

Other		40		4		(13)
Other income (expense), net		$	18,427	$	1,169	$	(2,510)

________________________

(a) Represents the write-off of deferred debt issuance costs related to the ANGI Group Term Loan, which was repaid in its entirety during the second quarter of 2021.

Supplemental Disclosure of Cash Flow Information:


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
Cash (paid) received during the year for:
Interest expense—third-party	$	(19,375)	$	(19,375)	$	(21,450)

Income tax payments, including amounts paid to IAC for Angi Inc.'s share of IAC's consolidated tax liability	$	(4,957)	$	(1,551)	$	(4,647)
Income tax refunds, including amounts received from IAC for Angi Inc.’s share of IAC's consolidated tax liability	$	282	$	396	$	587

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss carryforwards	$ 182,386	$ 187,449
Tax credit carryforwards	26,519	21,588
Capitalized research & development expenditures	18,919	12,551
Long-term lease liabilities	16,288	21,902
Capitalized software, leasehold improvements and equipment, net	10,923	0
Other	33,485	30,980
Total deferred tax assets	288,520	274,470
Less valuation allowance	(76,821)	(64,877)
Net deferred tax assets	211,699	209,593
Deferred tax liabilities:
Intangible assets, net	(46,571)	(47,016)
Right-of-use assets	(10,588)	(13,919)
Capitalized costs to obtain a contract with a customer	(9,004)	(9,264)
Capitalized software, leasehold improvements and equipment, net	0	(3,839)
Other	(92)	(83)
Total deferred tax liabilities	(66,255)	(74,121)
Net deferred tax assets	$ 145,444	$ 135,472

SHAREHOLDERS' EQUITY	12 Months Ended
SHAREHOLDERS' EQUITY	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY Description of Class A Common Stock, Class B Convertible Common Stock and Class C Common Stock Except as described herein, shares of Angi Inc. Class A common stock, Class B common stock and Class C common stock are identical. Holders of Class A common stock are entitled to one vote per share on all matters to be voted upon by the stockholders. Holders of Class B common stock are entitled to ten votes per share on all matters to be voted upon by stockholders. Holders of Class C common stock have no voting rights, except as otherwise required by the laws of the State of Delaware, in which case holders of Class C common stock are entitled to one one-hundredth (1/100) of a vote per share. Holders of the Company’s Class A common stock, Class B common stock and Class C common stock do not have cumulative voting rights in the election of directors. Shares of Angi Inc. Class B common stock are convertible into shares of our Class A common stock at the option of the holder at any time on a share for share basis. Such conversion ratio will in all events be equitably preserved in the event of any recapitalization of Angi Inc. by means of a stock dividend on, or a stock split or combination of, our outstanding Class A common stock or Class B common stock, or in the event of any merger, consolidation or other reorganization of Angi Inc. with another corporation. Upon the conversion of a share of our Class B common stock into a share of our Class A common stock, the applicable share of Class B common stock will be retired and will not be subject to reissue. Shares of Class A common stock and Class C common stock have no conversion rights. The holders of shares of Angi Inc. Class A common stock, Class B common stock and Class C common stock are entitled to receive, share for share, such cash dividends as may be declared by Angi Inc. Board of Directors out of funds legally available therefor. In the event of a liquidation, dissolution or winding up, holders of the Company’s Class A common stock, Class B common stock and Class C common stock are entitled to receive ratably the assets available for distribution to the stockholders after payment of all liabilities and accrued but unpaid dividends and liquidation preferences on any outstanding preferred stock. At December 31, 2023, IAC holds all 422.0 million outstanding shares of the Company’s Class B common stock, and 2.6 million outstanding shares of the Company’s Class A common stock, in total representing approximately 84.2% economic interest and 98.1% voting interest in the Company. In the event that Angi Inc. issues or proposes to issue any shares of Angi Inc. Class A common stock, Class B common stock or Class C common stock (with certain limited exceptions), including shares issued upon the exercise, conversion or exchange of options, warrants and convertible securities, IAC will generally have a purchase right that permits it to purchase for fair market value, as defined in the agreement, up to such number of shares of the same class as the issued shares as would (i) enable IAC to maintain the same ownership interest in the Company that it had immediately prior to such issuance or proposed issuance, with respect to issuances of our voting capital stock, or (ii) enable IAC to maintain ownership of at least 80.1% of each class of the Company’s non-voting capital stock, with respect to issuances of our non-voting capital stock. Reserved Common Shares In connection with outstanding awards under our equity compensation plans, 42.9 million shares of Angi Inc. Class A common stock are reserved for future issuances at December 31, 2023. Common Stock Repurchases On March 9, 2020, the Board of Directors of Angi Inc. authorized the Company to repurchase up to 20 million shares of its common stock. During the fourth quarter of 2023, Angi Inc. put in place a share repurchase plan with the intent of utilizing the remaining shares in its stock repurchase authorization. The plan is subject to price and volume limitations. During the years ended December 31, 2023, 2022, and 2021, the Company repurchased 4.4 million, 1.0 million, and 3.2 million of Angi Inc. common stock for aggregate consideration, on a trade date basis, of $11.1 million, $8.1 million, and $35.4 million, respectively. At December 31, 2023, the Company has approximately 10.6 million shares remaining in its share repurchase authorization.

- Definition

The entire disclosure for equity.

+ References

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+ Details

DISCONTINUED OPERATIONS - Components of Loss from Discontinued Operations (Details) - USD ($) $ in Thousands	10 Months Ended	12 Months Ended
	Nov. 01, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating costs and expenses:
Loss from discontinued operations, net of tax		$ (10,264)	$ (38,814)	$ (6,476)
Discontinued Operations, Disposed of by Sale \| Total Home Roofing
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	$ 90,557		137,509	68,028
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	61,476		100,664	51,219
Selling and marketing expense	17,667		33,041	14,006
General and administrative expense	14,516		27,070	10,845
Depreciation	555		747	221
Amortization of intangibles	0		667	333
Goodwill impairment	0		26,005	0
Total operating costs and expenses	94,214		188,194	76,624
Operating loss from discontinued operations	(3,657)		(50,685)	(8,596)
Interest income	9		9	1
Loss on sale of discontinued operations	(1,213)		0	0
Loss from discontinued operations before tax	(4,861)		(50,676)	(8,595)
Income tax (provision) benefit	(5,403)		11,862	2,119
Loss from discontinued operations, net of tax	$ (10,264)		$ (38,814)	$ (6,476)

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The components of assets and liabilities of discontinued operations in the balance sheet at December 31, 2022 consisted of the following:


	December 31, 2022
	(In thousands)
Current assets
Accounts receivable, net	$	21,913
Other current assets	4,837
Total current assets of discontinued operations	$	26,750

Non-current assets
Capitalized software, leasehold improvements and equipment, net	$	1,296
Deferred income taxes	7,082
Other non-current assets, net	1,680
Total non-current assets of discontinued operations	$	10,058

Current liabilities
Accounts payable	$	469
Deferred revenue	778
Accrued expenses and other current liabilities	17,221
Total current liabilities of discontinued operations	$	18,468

Non-current liabilities
Lease liability	$	919
Total non-current liabilities of discontinued operations	$	919

The components of the loss from discontinued operations for the periods January 1, 2023 through November 1, 2023, and the years ended December 31, 2022 and 2021 in the statement of operations consisted of the following:


	January 1 through November 1,		Years Ended December 31,
	2023		2022		2021
	(in thousands)
Revenue	$	90,557	$	137,509	$	68,028
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	61,476		100,664		51,219
Selling and marketing expense	17,667		33,041		14,006
General and administrative expense	14,516		27,070		10,845

Depreciation	555		747		221
Amortization of intangibles	—		667		333
Goodwill impairment	—		26,005		—
Total operating costs and expenses	94,214		188,194		76,624
Operating loss from discontinued operations	(3,657)		(50,685)		(8,596)
Interest income	9		9		1
Loss on sale of discontinued operations	(1,213)		—		—
Loss from discontinued operations before tax	(4,861)		(50,676)		(8,595)
Income tax (provision) benefit	(5,403)		11,862		2,119
Loss from discontinued operations, net of tax	$	(10,264)	$	(38,814)	$	(6,476)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

CONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (40,311)	$ (127,982)	$ (70,494)
Other comprehensive income (loss):
Change in foreign currency translation adjustment	2,501	(5,028)	(1,219)
Comprehensive loss	(37,810)	(133,010)	(71,713)
Components of comprehensive (income) loss attributable to noncontrolling interests:
Net earnings attributable to noncontrolling interests	(629)	(468)	(884)
Change in foreign currency translation adjustment attributable to noncontrolling interests	(142)	547	(109)
Comprehensive (income) loss attributable to noncontrolling interests	(771)	79	(993)
Comprehensive loss attributable to Angi Inc. shareholders	$ (38,581)	$ (132,931)	$ (72,706)

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue	$ 1,358,748	$ 1,764,355	$ 1,619,317
Cost of revenue (exclusive of depreciation shown separately below)	62,547	337,396	274,661
Gross profit	1,296,201	1,426,959	1,344,656
Operating costs and expenses:
Selling and marketing expense	765,205	890,321	871,544
General and administrative expense	359,389	447,140	394,974
Product development expense	96,543	73,821	70,933
Depreciation	93,604	77,523	59,025
Amortization of intangibles	7,958	13,774	16,097
Total operating costs and expenses	1,322,699	1,502,579	1,412,573
Operating loss	(26,498)	(75,620)	(67,917)
Interest expense	(20,137)	(20,107)	(23,485)
Other income (expense),net	18,427	1,169	(2,510)
Loss from continuing operations before income taxes	(28,208)	(94,558)	(93,912)
Income tax (provision) benefit	(1,839)	5,390	29,894
Net loss from continuing operations	(30,047)	(89,168)	(64,018)
Loss from discontinued operations, net of tax	(10,264)	(38,814)	(6,476)
Net loss	(40,311)	(127,982)	(70,494)
Net earnings attributable to noncontrolling interests	(629)	(468)	(884)
Net loss attributable to Angi Inc. shareholders	$ (40,940)	$ (128,450)	$ (71,378)
Per share information from continuing operations:
Basic loss per share (USD per share)	$ (0.06)	$ (0.18)	$ (0.13)
Diluted loss per share (USD per share)	(0.06)	(0.18)	(0.13)
Per share information attributable to Angi Inc. shareholders:
Basic loss per share (USD per share)	(0.08)	(0.26)	(0.14)
Diluted loss per share (USD per share)	$ (0.08)	$ (0.26)	$ (0.14)
Stock-based compensation expense by function:
Total stock-based compensation expense	$ 43,414	$ 50,802	$ 28,171
Selling and marketing expense
Stock-based compensation expense by function:
Total stock-based compensation expense	6,264	5,927	4,033
General and administrative expense
Stock-based compensation expense by function:
Total stock-based compensation expense	28,386	36,015	19,268
Product development expense
Stock-based compensation expense by function:
Total stock-based compensation expense	$ 8,764	$ 8,860	$ 4,870

LEASES - Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 21,396
2025	17,581
2026	16,865
2027	12,488
2028	6,266
Thereafter	5,329
Total	79,925
Less: Interest	10,578
Present value of lease liabilities	69,347	$ 89,016
Leases not yet commenced	$ 0

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 364,044	$ 321,155
Accounts receivable, net	51,100	71,967
Other current assets	72,075	64,330
Current assets of discontinued operations	0	26,750
Total current assets	487,219	484,202
Capitalized software, leasehold improvements and equipment, net	109,527	152,559
Goodwill	886,047	882,949
Intangible assets, net	170,773	178,105
Deferred income taxes	148,183	138,378
Other non-current assets, net	54,466	61,527
Non-current assets of discontinued operations	0	10,058
TOTAL ASSETS	1,856,215	1,907,778
LIABILITIES:
Accounts payable	29,467	30,393
Deferred revenue	49,859	50,129
Accrued expenses and other current liabilities	179,329	182,794
Current liabilities of discontinued operations	0	18,468
Total current liabilities	258,655	281,784
Long-term debt, net	496,047	495,284
Deferred income taxes	2,739	2,906
Other long-term liabilities	54,266	75,507
Non-current liabilities of discontinued operations	0	919
Commitments and contingencies
SHAREHOLDERS’ EQUITY:
Additional paid-in capital	1,447,353	1,405,294
Accumulated deficit	(231,019)	(190,079)
Accumulated other comprehensive income (loss)	1,187	(1,172)
Treasury stock, 24,640 and 20,211 shares, respectively	(177,283)	(166,184)
Total Angi Inc. shareholders’ equity	1,040,767	1,048,384
Noncontrolling interests	3,741	2,994
Total shareholders’ equity	1,044,508	1,051,378
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,856,215	1,907,778
Class A Common Stock
SHAREHOLDERS’ EQUITY:
Common stock, value	107	103
Class B Common Stock
SHAREHOLDERS’ EQUITY:
Common stock, value	422	422
Class C Common Stock
SHAREHOLDERS’ EQUITY:
Common stock, value	$ 0	$ 0

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible assets, net are as follows:


	December 31,
	2023		2022
	(In thousands)
Goodwill	$	886,047	$	882,949
Intangible assets with indefinite lives	170,773		170,147
Intangible assets with definite lives, net of accumulated amortization	—		7,958
Total goodwill and intangible assets, net	$	1,056,820	$	1,061,054

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2023:


	Balance at December 31, 2022		Foreign Currency Translation		Balance at December 31, 2023
	(In thousands)
Ads and Leads	$	761,133	$	—	$	761,133
Services	51,197		—		51,197
International	70,619		3,098		73,717

Total goodwill	$	882,949	$	3,098	$	886,047

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2022:


	Balance at December 31, 2021		Deductions		Reporting Unit Allocation Adjustment		Impairments		Foreign Currency Translation		Balance at December 31, 2022
	(In thousands)
North America	$	843,193	$	(816)	$	(841,800)	$	—	$	(577)	$	—
Europe	72,846		—		(61,334)		—		(11,512)		—
Ads and Leads	—		—		761,133		—		—		761,133
Services	—		—		51,197		—		—		51,197
International	—		—		64,799		—		5,820		70,619
Total	916,039		(816)		(26,005)		—		(6,269)		882,949
Roofing (included in discontinued operations)	—		—		26,005		(26,005)		—		—
Total goodwill	$	916,039	$	(816)	$	—	$	(26,005)	$	(6,269)	$	882,949

Intangible assets with indefinite lives are trade names and trademarks acquired in various acquisitions. At December 31, 2023 and 2022, intangible assets with definite lives are as follows:


	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life (Years)
	(Dollars in thousands)
Technology	$	82,234	$	(82,234)	$	—	5.5


Service professional relationships	5,619		(5,619)		—		2.5
Trade names	1,376		(1,376)		—		5.0
Total	$	89,229	$	(89,229)	$	—	5.3


	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life (Years)
	(Dollars in thousands)
Technology	$	82,114	$	(74,156)	$	7,958	5.5


Service professional relationships	95,858		(95,858)		—		3.0
Trade names	1,327		(1,327)		—		5.0
Total	$	179,299	$	(171,341)	$	7,958	4.1

The decreases in gross carrying amount and accumulated amortization of intangible assets from December 31, 2022 was due primarily to the retirement of certain fully amortized service professional relationships within Ads and Leads of $90.5 million as these assets are no longer in use.

See “Note 2—Summary of Significant Accounting Policies” for further discussion of the Company’s assessments of impairment of goodwill and indefinite-lived intangible assets.

INCOME TAXES

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

The Company is included within IAC’s tax group for purposes of federal and consolidated state income tax return filings. In all periods presented, the income tax provision and/or benefit has been computed for the Company on an as if standalone, separate return basis and payments to and refunds from IAC for the Company’s share of IAC’s consolidated federal and state tax return liabilities/receivables calculated on this basis have been reflected within cash flows from operating activities in the statement of cash flows. The tax sharing agreement between the Company and IAC governs the parties’ respective rights, responsibilities and obligations with respect to tax matters, including responsibility for taxes attributable to the Company, entitlement to refunds, allocation of tax attributes and other matters and, therefore, ultimately governs the amount payable to or receivable from IAC with respect to income taxes. Any differences between taxes currently payable to or receivable from IAC under the tax sharing agreement and the current tax provision or benefit computed on an as if standalone, separate return basis for GAAP are reflected as adjustments to additional paid-in capital in the statement of shareholders’ equity and financing activities within the statement of cash flows.

U.S. and foreign (loss) earnings from continuing operations before income taxes and noncontrolling interests are as follows:


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
U.S.	$	(38,717)	$	(87,557)	$	(80,182)
Foreign	10,509		(7,001)		(13,730)
Total	$	(28,208)	$	(94,558)	$	(93,912)

The components of the income tax provision (benefit) are as follows:


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
Current income tax provision:
Federal	$	1,373	$	27	$	36
State	3,198		2,650		3,038
Foreign	7,277		1,691		1,249
Current income tax provision	11,848		4,368		4,323

Deferred income tax (benefit) provision:
Federal	(8,232)		(8,045)		(27,800)
State	(1,499)		(2,894)		(8,712)
Foreign	(278)		1,181		2,295
Deferred income tax benefit	(10,009)		(9,758)		(34,217)
Income tax provision (benefit)	$	1,839	$	(5,390)	$	(29,894)

The tax effects of cumulative temporary differences that give rise to significant deferred tax assets and deferred tax liabilities are presented below. The valuation allowance relates to deferred tax assets for which it is more likely than not that the tax benefit will not be realized.


	December 31,
	2023		2022
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	182,386	$	187,449
Tax credit carryforwards	26,519		21,588
Capitalized research & development expenditures	18,919		12,551
Long-term lease liabilities	16,288		21,902

Capitalized software, leasehold improvements and equipment, net	10,923		—
Other	33,485		30,980
Total deferred tax assets	288,520		274,470
Less valuation allowance	(76,821)		(64,877)
Net deferred tax assets	211,699		209,593

Deferred tax liabilities:
Intangible assets, net	(46,571)		(47,016)
Right-of-use assets	(10,588)		(13,919)
Capitalized costs to obtain a contract with a customer	(9,004)		(9,264)
Capitalized software, leasehold improvements and equipment, net	—		(3,839)
Other	(92)		(83)
Total deferred tax liabilities	(66,255)		(74,121)
Net deferred tax assets	$	145,444	$	135,472

The portion of the December 31, 2023 deferred tax assets that will be payable to IAC pursuant to the tax sharing agreement, upon realization, is $92.9 million.

At December 31, 2023, the Company has federal and state NOLs of $480.9 million and $431.0 million, respectively, available to offset future income. Of these federal NOLs, $214.2 million can be carried forward indefinitely and $266.7 million, if not utilized, will expire at various times between 2033 and 2037. Of these state NOLs, $25.5 million will be carried forward indefinitely and $405.5 million will expire at various times primarily between 2025 and 2043. Federal and state NOLs of $396.6 million and $331.3 million, respectively, can be used against future taxable income without restriction and the remaining NOLs will be subject to limitations under Section 382 of the Internal Revenue Code, separate return limitations, and applicable state law. At December 31, 2023, the Company has foreign NOLs of $329.9 million available to offset future income. Of these foreign NOLs, $317.5 million can be carried forward indefinitely and $12.4 million, if not utilized, will expire at various times between 2038 and 2043. During 2023, the Company recognized tax benefits related to NOLs of $0.5 million.

At December 31, 2023, the Company has tax credit carryforwards of $34.1 million relating to federal and state tax credits for research activities. Of these credit carryforwards, $1.7 million can be carried forward indefinitely and $32.4 million, if not utilized, will expire between 2024 and 2043.

The Company regularly assesses the realizability of deferred tax assets considering all available evidence including, to the extent applicable, the nature, frequency and severity of prior cumulative losses, forecasts of future taxable income, tax filing status, the duration of statutory carryforward periods, available tax planning and historical experience. At December 31, 2023, the Company has a U.S. gross deferred tax asset of $209.6 million that the Company expects to fully utilize on a more likely than not basis.

During 2023, the Company’s valuation allowance increased by $11.9 million primarily due to an increase in unbenefited capital losses, foreign NOLs, and currency translation adjustments. At December 31, 2023, the Company has a valuation allowance of $76.8 million related to the portion of NOLs and other items for which it is more likely than not that the tax benefit will not be realized.

A reconciliation of the income tax provision (benefit) to the amounts computed by applying the statutory federal income tax rate to earnings (loss) from continuing operations before income taxes is shown as follows:


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
Income tax (benefit) at the federal statutory rate of 21%	$	(5,924)	$	(19,857)	$	(19,722)
State income taxes, net of effect of federal tax benefit	1,510		362		(1,040)
Research credit	(4,912)		(7,123)		(2,431)
Stock-based compensation	4,546		3,917		(13,643)
Non-deductible executive compensation	3,514		4,731		3,312
Unbenefited losses	3,352		7,106		1,610
Net adjustment related to the reconciliation of income tax provision accruals to tax returns	(2,430)		(1,212)		335
Foreign income taxed at a different statutory tax rate	1,216		5,355		2,872
Change in judgement on beginning of the year valuation allowance	399		966		(4,165)
Deferred tax adjustment for enacted changes in tax law and rates	99		178		768
Other, net	469		187		2,210
Income tax provision (benefit)	$	1,839	$	(5,390)	$	(29,894)

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest, is as follows:


	December 31,
	2023		2022		2021
	(In thousands)
Balance at January 1	$	6,181	$	6,298	$	5,268
Additions based on tax positions related to the current year	1,564		1,342		1,317
Additions for tax positions of prior years	545		1,006		264
Reductions for tax positions of prior years	(88)		—		(91)
Settlements	(188)		(2,465)		(460)
Balance at December 31	$	8,014	$	6,181	$	6,298

The Company recognizes interest and, if applicable, penalties related to unrecognized tax benefits in the income tax provision. At December 31, 2023 and 2022, accruals for interest are not material and there are no accruals for penalties.

The Company’s income taxes are routinely under audit by federal, state, local and foreign authorities as a result of previously filed separate company and consolidated tax returns with IAC. These audits include questioning the timing and the amount of income and deductions and the allocation of income and deductions among various tax jurisdictions. On June 27, 2023 the Joint Committee of Taxation completed its review of the federal income tax returns for the years ended December 31, 2013 through 2019, which includes the operations of the Company, and approved the audit settlement previously agreed to with the Internal Revenue Service. The statutes of limitations for the years 2013 through 2019 expired December 31, 2023. Returns filed in various other jurisdictions are open to examination for tax years beginning with 2013. Income taxes payable include unrecognized tax benefits considered sufficient to pay assessments that may result from the examination of prior year tax returns. The Company considers many factors when evaluating and estimating its tax positions and tax benefits, which may not accurately anticipate actual outcomes and, therefore, may require periodic adjustment. Although management currently believes changes in unrecognized tax benefits from period to period and differences between amounts paid, if any, upon resolution of issues raised in audits and amounts previously provided will not have a material impact on the liquidity, results of operations, or financial condition of the Company, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future.

At December 31, 2023 and 2022, the Company has unrecognized tax benefits, including interest, of $8.1 million and $6.2 million respectively; all of which are for tax positions included in IAC’s consolidated tax return filings. If unrecognized tax benefits at December 31, 2023 are subsequently recognized, the income tax provision would be reduced by $7.6 million. The comparable amount as of December 31, 2022 is $5.8 million. The Company believes it is reasonably possible that its unrecognized tax benefits could decrease by $0.2 million by December 31, 2024 due to settlements, all of which would reduce the income tax provision.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

SEGMENT INFORMATION - Reconciliation of Adjusted EBITDA to Operating Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	$ (26,498)	$ (75,620)	$ (67,917)
Stock-Based Compensation Expense	43,414	50,802	28,171
Depreciation	93,604	77,523	59,025
Amortization of Intangibles	7,958	13,774	16,097
Adjusted EBITDA	118,478	66,479	35,376
Interest expense	(20,137)	(20,107)	(23,485)
Other income (expense), net	18,427	1,169	(2,510)
Loss from continuing operations before income taxes	(28,208)	(94,558)	(93,912)
Income tax (provision) benefit	(1,839)	5,390	29,894
Net loss from continuing operations	(30,047)	(89,168)	(64,018)
Loss from discontinued operations, net of tax	(10,264)	(38,814)	(6,476)
Net loss	(40,311)	(127,982)	(70,494)
Net earnings attributable to noncontrolling interests	(629)	(468)	(884)
Net loss attributable to Angi Inc. shareholders	(40,940)	(128,450)	(71,378)
Corporate, Non-Segment
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(61,377)	(61,794)	(56,196)
Stock-Based Compensation Expense	11,301	11,928	10,121
Depreciation	0	0	0
Amortization of Intangibles	0	0	9
Adjusted EBITDA	(50,076)	(49,866)	(46,066)
Ads and Leads \| Operating Segments
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	50,043	85,593	65,485
Stock-Based Compensation Expense	23,145	19,972	12,722
Depreciation	66,211	52,737	46,025
Amortization of Intangibles	7,958	10,650	12,028
Adjusted EBITDA	147,357	168,952	136,260
Services \| Operating Segments
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(23,450)	(95,166)	(63,984)
Stock-Based Compensation Expense	7,586	18,012	4,672
Depreciation	23,987	21,904	7,049
Amortization of Intangibles	0	3,124	4,060
Adjusted EBITDA	8,123	(52,126)	(48,203)
International \| Operating Segments
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	8,286	(4,253)	(13,222)
Stock-Based Compensation Expense	1,382	890	656
Depreciation	3,406	2,882	5,951
Amortization of Intangibles	0	0	0
Adjusted EBITDA	$ 13,074	$ (481)	$ (6,615)

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2023	Feb. 09, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38220
Entity Registrant Name	Angi Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-1204801
Entity Address, Address Line One	3601 Walnut Street
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80205
City Area Code	303
Local Phone Number	963-7200
Title of 12(b) Security	Class A Common Stock, par value $0.001
Trading Symbol	ANGI
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 267,041,722
Documents Incorporated by Reference	Portions of the registrant's proxy statement for its 2024 Annual Meeting of Stockholders are incorporated by reference into Part III herein.
Entity Central Index Key	0001705110
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		80,015,090
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		422,019,247

SEGMENT INFORMATION - Revenue by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenue	$ 1,358,748	$ 1,764,355	$ 1,619,317
Operating Segments \| International
Segment Reporting Information [Line Items]
Revenue	115,807	101,038	102,295
Domestic
Segment Reporting Information [Line Items]
Revenue	1,242,941	1,663,317	1,517,022
Domestic \| Operating Segments \| Ads and Leads
Segment Reporting Information [Line Items]
Revenue	1,124,908	1,282,061	1,227,074
Domestic \| Operating Segments \| Services
Segment Reporting Information [Line Items]
Revenue	$ 118,033	$ 381,256	$ 289,948

- Definition

+ References

+ Details

STOCK-BASED COMPENSATION - Narrative (Details)	12 Months Ended
STOCK-BASED COMPENSATION - Narrative (Details)	Dec. 31, 2023 USD ($) plan installment $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award
Number of active stock-based compensation plans \| plan	1
Shares available for grant (in shares) \| shares	14,000,000
Stated term (in years)	10 years
Unrecognized compensation cost, net of estimated forfeitures	$ 47,800,000
Weighted average period over which cost is expected to be recognized (in years)	2 years 3 months 14 days
Tax benefit recognized related to stock-based compensation	$ 2,900,000	$ 3,600,000	$ 16,800,000
Tax benefit realized from exercises	100,000	(300,000)	10,800,000
Stock-Based Compensation Expense	43,414,000	50,802,000	28,171,000
Intrinsic value of exercises		1,300,000	103,800,000
Incremental compensation cost from modification recognized in year of modification	0		900,000
Proceeds from the exercise of stock options	0	0	0
Cash remitted in stock issuance assuming conversion	$ 4,546,000	$ 3,917,000	$ (13,643,000)
Assumed withholding rate (as a percent)	50.00%
Stock Options and Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	4 years
Granted (shares) \| shares	0	0	0
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award
Stock issued assuming conversion (shares) \| shares	0
Cash remitted in stock issuance assuming conversion	$ 0
RSUs & Subsidiary Denominated Equity Instruments
Share-based Compensation Arrangement by Share-based Payment Award
Stock issued assuming conversion (shares) \| shares	13,800,000
Cash remitted in stock issuance assuming conversion	$ 34,300,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	3 years
Number of installments \| installment	1
Weighted average grant date fair value (USD per share) \| $ / shares	$ 2.53	$ 4.95	$ 12.73
Fair value of RSU's that vested during the period	$ 15,500,000	$ 20,800,000	$ 35,200,000
RSUs \| Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award
Vesting rate (as a percent)	57.00%
RSUs \| Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award
Vesting rate (as a percent)	29.00%
RSUs \| Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award
Vesting rate (as a percent)	14.00%
RSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	3 years
RSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	4 years
Subsidiary Denominated Equity Instruments
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	4 years
MSUs
Share-based Compensation Arrangement by Share-based Payment Award
Stock-Based Compensation Expense	$ 10,400,000
Weighted average grant date fair value (USD per share) \| $ / shares	$ 2.51	$ 6.39	$ 14.39
Fair value of RSU's that vested during the period	$ 100,000	$ 0	$ 2,100,000
MSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	2 years
MSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	5 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award
Weighted average grant date fair value (USD per share) \| $ / shares	$ 0		$ 13.51
Fair value of RSU's that vested during the period	$ 0	$ 100,000	$ 3,600,000
PSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	2 years
PSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	5 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) unit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Disaggregation of Revenue [Line Items]
Revenue	$ 1,358,748,000	$ 1,764,355,000	$ 1,619,317,000
Amortization of contract assets	61,400,000	77,400,000
Current deferred revenue	49,859,000	50,129,000	53,200,000
Non-current deferred revenue	100,000	100,000	100,000
Deferred revenue recognized	$ 48,000,000	52,800,000
Cash equivalents maturity period at purchase (less than)	91 days
Fair Value	$ 0	0
Long-lived assets (excluding goodwill and intangible assets)	$ 109,527,000	152,559,000
Number of reporting units \| unit	4
Goodwill impairment		26,005,000
Advertising expense	$ 459,400,000	558,400,000	553,800,000
Total Home Roofing \| Discontinued Operations, Disposed of by Sale
Disaggregation of Revenue [Line Items]
Goodwill impairment		26,005,000
Roofing \| Total Home Roofing \| Discontinued Operations, Disposed of by Sale
Disaggregation of Revenue [Line Items]
Goodwill impairment		26,000,000
Redeemable Noncontrolling Interest
Disaggregation of Revenue [Line Items]
Adjustment of redeemable noncontrolling interests to fair value		$ 400,000
Discount Rate \| Minimum
Disaggregation of Revenue [Line Items]
Indefinite-lived impairment measure input (as a percent)	15.00%	12.00%
Discount Rate \| Maximum
Disaggregation of Revenue [Line Items]
Indefinite-lived impairment measure input (as a percent)	17.00%	18.50%
Royalty Rate \| Minimum \| Indefinite-lived Intangible Assets
Disaggregation of Revenue [Line Items]
Measurement input (as a percent)	0.025	0.020
Royalty Rate \| Maximum \| Indefinite-lived Intangible Assets
Disaggregation of Revenue [Line Items]
Measurement input (as a percent)	0.045	0.045
Capitalized internal use software
Disaggregation of Revenue [Line Items]
Long-lived assets (excluding goodwill and intangible assets)	$ 92,300,000	$ 128,600,000
All other countries
Disaggregation of Revenue [Line Items]
Revenue	116,656,000	103,982,000	104,387,000
Cash equivalents	$ 0	0
Change In Accounting Principle, Recording Revenue On Net Basis
Disaggregation of Revenue [Line Items]
Revenue		$ (242,600,000)	$ (180,700,000)

INCOME TAXES - Income Tax Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns
Balance at January 1	$ 6,181	$ 6,298	$ 5,268
Additions based on tax positions related to the current year	1,564	1,342	1,317
Additions for tax positions of prior years	545	1,006	264
Reductions for tax positions of prior years	(88)	0	(91)
Settlements	(188)	(2,465)	(460)
Balance at December 31	$ 8,014	$ 6,181	$ 6,298

CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Loss contingency reserve	$ 5.2	$ 13.5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Contract Asset Balances

The following table presents the capitalized sales commissions balances and balance sheet classification at the balance sheet dates:


Classification	December 31, 2023		December 31, 2022
	(In thousands)
Other current assets	$	34,927	$	37,220
Other non-current assets	$	3,528	$	1,904

Schedule of Estimated Useful Lives of Property and Equipment


Asset Category						Estimated Useful Lives
Capitalized software and computer equipment						2 to 3 Years
Furniture and other equipment						5 to 7 Years
Leasehold improvements						5 to 25 Years


	December 31,
	2023		2022
	(In thousands)
Capitalized software, leasehold improvements and equipment, net:
Capitalized software and computer equipment	$	275,377	$	247,176
Leasehold improvements	27,140		27,780
Furniture and other equipment	10,387		10,819
Projects in progress	11,980		12,653
Capitalized software, leasehold improvements and equipment	324,884		298,428
Accumulated depreciation and amortization	(215,357)		(145,869)
Capitalized software, leasehold improvements and equipment, net	$	109,527	$	152,559

LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted (Loss) Earnings per Share

The following table sets forth the computation of basic and diluted loss per share attributable to Angi Inc. Class A and Class B Common Stock shareholders:


	Years Ended December 31,
	2023				2022				2021
	Basic		Diluted		Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator:
Net loss from continuing operations	$	(30,047)	$	(30,047)	$	(89,168)	$	(89,168)	$	(64,018)	$	(64,018)
Net earnings attributable to noncontrolling interests of continuing operations	(629)		(629)		(468)		(468)		(884)		(884)
Net loss from continuing operations attributable to Angi Inc. Class A and Class B Common Stock shareholders	(30,676)		(30,676)		(89,636)		(89,636)		(64,902)		(64,902)

Loss from discontinued operations, net of taxes	(10,264)		(10,264)		(38,814)		(38,814)		(6,476)		(6,476)

Net loss attributable to Angi Inc. Class A and Class B Common Stock shareholders	$	(40,940)	$	(40,940)	$	(128,450)	$	(128,450)	$	(71,378)	$	(71,378)

Denominator:
Weighted average basic Class A and Class B common stock shares outstanding	505,900		505,900		503,008		503,008		502,761		502,761
Dilutive securities (a) (b)	—		—		—		—		—		—
Denominator for loss per share—weighted average shares	505,900		505,900		503,008		503,008		502,761		502,761

Loss per share:
Loss per share from continuing operations	$	(0.06)	$	(0.06)	$	(0.18)	$	(0.18)	$	(0.13)	$	(0.13)
Loss per share from discontinued operations, net of tax	(0.02)		(0.02)		(0.08)		(0.08)		(0.01)		(0.01)
Loss per share attributable to Angi Inc. Class A and Class B Common Stock shareholders	$	(0.08)	$	(0.08)	$	(0.26)	$	(0.26)	$	(0.14)	$	(0.14)

________________________

(a) If the effect is dilutive, weighted average common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and subsidiary denominated equity and vesting of restricted stock units (“RSUs”). For the years ended December 31, 2023, 2022, and 2021, 28.5 million, 23.6 million, and 17.5 million of potentially dilutive securities, respectively, were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding were used to compute all loss per share amounts.

(b) MSUs and PSUs are considered contingently issuable shares. Shares issuable upon exercise or vesting of MSUs and PSUs are included in the denominator for earnings per share if (i) the applicable market or performance condition(s) has been met and (ii) the inclusion of the MSUs and PSUs is dilutive for the respective reporting periods. For the years ended December 31, 2023, 2022, and 2021, 0.5 million, 0.8 million and 2.2 million underlying market-based awards and PSUs, respectively, were excluded from the calculation of diluted loss per share because the market or performance condition(s) had not been met.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives of Property and Equipment (Details)	Dec. 31, 2023
Capitalized software and computer equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	2 years
Capitalized software and computer equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	3 years
Furniture and other equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years
Furniture and other equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	7 years
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	25 years

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consists of:


	December 31, 2023		December 31, 2022
	(In thousands)
3.875% ANGI Group Senior Notes due August 15, 2028 (“ANGI Group Senior Notes”); interest payable each February 15 and August 15	$	500,000	$	500,000



Less: unamortized debt issuance costs	3,953		4,716
Total long-term debt, net	$	496,047	$	495,284

Schedule of Debt Instrument Redemption

These notes may be redeemed at the redemption prices set forth below, plus accrued and unpaid interest thereon, if any, to the applicable redemption date, if redeemed during the twelve-month period beginning on August 15 of the years indicated below:


Year	Percentage
2023	101.938	%
2024	100.969	%
2025 and thereafter	100.000	%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147482925/835-30-45-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1A
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1
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+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net	$ 418.1	$ 368.8

LONG-TERM DEBT - Narrative (Details) $ in Thousands	12 Months Ended
LONG-TERM DEBT - Narrative (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Aug. 03, 2021 USD ($)
Debt Instrument
Principal payments on Term Loan	$ 0	$ 0	$ 220,000
3.875% Senior Notes \| Senior Notes
Debt Instrument
Leverage ratio, maximum	3.75
ANGI Group Credit Facility \| Revolving Credit Facility
Debt Instrument
Credit facility terminated				$ 250,000
ANGI Group Term Loan due November 5, 2023 (“ANGI Group Term Loan”) \| Loans Payable
Debt Instrument
Principal payments on Term Loan			$ 220,000

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following tables present the components of accumulated other comprehensive income (loss), which exclusively consists of foreign currency translation adjustment:


	Years Ended December 31,
	2023		2022		2021

	(In thousands)
Balance at January 1	$	(1,172)	$	3,309	$	4,637
Other comprehensive income (loss)	2,359		(4,481)		(1,328)
Balance at December 31	$	1,187	$	(1,172)	$	3,309

There were no items reclassified out of accumulated other comprehensive income (loss) into earnings during the years ended December 31, 2023, 2022, and 2021. At December 31, 2023, 2022, and 2021, there was no tax benefit or provision on the accumulated other comprehensive income (loss).

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis:


	December 31, 2023
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	215,891	$	—	$	—	$	215,891
Treasury discount notes	—		74,802		—		74,802



Total	$	215,891	$	74,802	$	—	$	290,693


	December 31, 2022
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	189,000	$	—	$	—	$	189,000
Treasury discount notes	—		24,961		—		24,961



Total	$	189,000	$	24,961	$	—	$	213,961

LEASES - Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
ROU assets obtained in exchange for lease liabilities	$ 6,696	$ 2,911	$ 2,848
Derecognition of ROU assets due to termination or modification	(5,266)	(772)	(1,555)
Cash paid for amounts included in the measurement of lease liabilities	$ 25,806	$ 22,484	$ 23,285

FINANCIAL STATEMENT DETAILS - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 364,044	$ 321,155	$ 428,136	$ 812,705
Restricted cash included in other current assets	0	107	156	407
Restricted cash included in other non-current assets	257	371	693	449
Restricted cash included in other non-current assets of discontinued operations	0	503	500	0
Total cash and cash equivalents, and restricted cash as shown on the statement of cash flows	$ 364,301	$ 322,136	$ 429,485	$ 813,561

LEASES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

LEASES

The Company primarily leases office space used in connection with its operations under various operating leases, the majority of which contain escalation clauses.

ROU assets represent the Company’s right to use the underlying assets for the lease term and lease liabilities represent the present value of the Company’s obligation to make payments arising from these leases. ROU assets and related lease liabilities are based on the present value of fixed lease payments over the lease term using the Company’s incremental borrowing rate on the lease commencement date, the date of acquisition for any leases acquired in connection with a business combination, or January 1, 2019, the date ASC Topic 842, Leases (“ASC 842”) was adopted, for leases that commenced prior to that date. The Company combines the lease and non-lease components of lease payments in determining ROU assets and related lease liabilities. If the lease includes one or more options to extend the term of the lease, the renewal option is considered in the lease term if it is reasonably certain the Company will exercise the option(s). Lease expense is recognized on a straight-line basis over the term of the lease. As permitted by ASC 842, leases with an initial term of twelve months or less (“short-term leases”) are not recorded on the balance sheet.

Variable lease payments consist primarily of common area maintenance, utilities, and taxes, which are not included in the recognition of ROU assets and related lease liabilities. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The following table presents the balances of ROU assets and lease liabilities within the balance sheet:


		December 31,
Leases	Balance Sheet Classification	2023		2022
		(In thousands)
Assets:
ROU assets	Other non-current assets	$	45,971	$	56,313

Liabilities:
Current lease liabilities	Accrued expenses and other current liabilities	$	17,797	$	16,328
Long-term lease liabilities	Other long-term liabilities	51,550		72,688
Total lease liabilities		$	69,347	$	89,016

The following table presents the net lease expense within the statement of operations:


		Years Ended December 31,
Lease Expense	Statement of Operations Classification	2023		2022		2021
		(In thousands)
Fixed lease expense	Cost of revenue	$	392	$	437	$	346
Fixed lease expense	Selling and marketing expense	116		2,669		7,305
Fixed lease expense	General and administrative expense	11,225		11,122		16,461
Fixed lease expense	Product development expense	399		492		1,232
Total fixed lease expense(a)		12,132		14,720		25,344

Variable lease expense	Selling and marketing expense	36		200		1,087
Variable lease expense	General and administrative expense	5,071		4,444		2,438
Variable lease expense	Product development expense	156		23		567
Total variable lease expense		5,263		4,667		4,092
Net lease expense		$	17,395	$	19,387	$	29,436

________________________________

(a) Includes (i) lease impairment charges of $0.7 million, $1.7 million, and $7.8 million, and (ii) sublease income of $4.3 million, $4.7 million, and $1.8 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Maturities of lease liabilities as of December 31, 2023(b) are summarized below:


Years Ending December 31:	(In thousands)
2024	$	21,396
2025	17,581
2026	16,865
2027	12,488
2028	6,266
Thereafter	5,329
Total	79,925
Less: Interest	10,578
Present value of lease liabilities	$	69,347

________________________________

(b) At December 31, 2023 there were no legally binding minimum lease payments for leases signed but not yet commenced.

The following are the weighted average assumptions used for lease term and discount rate:


	December 31,
	2023		2022
Remaining lease term	4.4 years		5.3 years
Discount rate	6.59	%	6.19	%

The following is the supplemental cash flow information:


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
ROU assets obtained in exchange for lease liabilities	$	6,696	$	2,911	$	2,848
Derecognition of ROU assets due to termination or modification	$	(5,266)	$	(772)	$	(1,555)
Cash paid for amounts included in the measurement of lease liabilities	$	25,806	$	22,484	$	23,285

BENEFIT PLANS - Narrative (Details) - USD ($)	12 Months Ended
BENEFIT PLANS - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan Disclosure
Employee contribution limit per calendar year (as a percent of pre-tax earnings)	50.00%
Employer contribution per dollar employee contributes up to contribution limit	50.00%
Employer contribution limit per calendar year (as a percent of compensation)	3.00%
Employer contribution limit per calendar year, amount	$ 10,000
United States
Defined Contribution Plan Disclosure
Defined contribution plan contributions	8,100,000	$ 9,300,000	$ 8,300,000
Foreign Plan
Defined Contribution Plan Disclosure
Defined contribution plan contributions	$ 1,000,000	$ 800,000	$ 700,000

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

On November 1, 2023, Angi Inc. completed the sale of 100% of its wholly-owned subsidiary, THR, and has reflected it as a discontinued operation in its financial statements. The financial information for prior periods has been recast to conform to the current year presentation.

The components of assets and liabilities of discontinued operations in the balance sheet at December 31, 2022 consisted of the following:


	December 31, 2022
	(In thousands)
Current assets
Accounts receivable, net	$	21,913
Other current assets	4,837
Total current assets of discontinued operations	$	26,750

Non-current assets
Capitalized software, leasehold improvements and equipment, net	$	1,296
Deferred income taxes	7,082
Other non-current assets, net	1,680
Total non-current assets of discontinued operations	$	10,058

Current liabilities
Accounts payable	$	469
Deferred revenue	778
Accrued expenses and other current liabilities	17,221
Total current liabilities of discontinued operations	$	18,468

Non-current liabilities
Lease liability	$	919
Total non-current liabilities of discontinued operations	$	919


	January 1 through November 1,		Years Ended December 31,
	2023		2022		2021
	(in thousands)
Revenue	$	90,557	$	137,509	$	68,028
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	61,476		100,664		51,219
Selling and marketing expense	17,667		33,041		14,006
General and administrative expense	14,516		27,070		10,845

Depreciation	555		747		221
Amortization of intangibles	—		667		333
Goodwill impairment	—		26,005		—
Total operating costs and expenses	94,214		188,194		76,624
Operating loss from discontinued operations	(3,657)		(50,685)		(8,596)
Interest income	9		9		1
Loss on sale of discontinued operations	(1,213)		—		—
Loss from discontinued operations before tax	(4,861)		(50,676)		(8,595)
Income tax (provision) benefit	(5,403)		11,862		2,119
Loss from discontinued operations, net of tax	$	(10,264)	$	(38,814)	$	(6,476)

During the period in which Angi owned the Roofing segment, the Ads & Leads segment provided services totaling $3.5 million, $10.3 million, and $1.9 million to the Roofing segment for the period January 1, 2023 through November 1, 2023, and the years ended December 31, 2022 and 2021, respectively. Such services have and will continue in periods subsequent to the disposition of the Roofing segment on November 1, 2023.

LONG-TERM DEBT - Debt Redemption (Details) - 3.875% Senior Notes - Senior Notes	12 Months Ended
	Dec. 31, 2023
2023
Debt Instrument, Redemption [Line Items]
Redemption price (as a percent)	101.938%
2024
Debt Instrument, Redemption [Line Items]
Redemption price (as a percent)	100.969%
2025 and thereafter
Debt Instrument, Redemption [Line Items]
Redemption price (as a percent)	100.00%

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Outstanding Unvested Equity Units

Unvested RSUs, MSUs, and PSUs outstanding at December 31, 2023 and changes during the year ended December 31, 2023 are as follows:


	RSUs			MSUs			PSUs
	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares (a)	Weighted Average Grant Date Fair Value		Number of Shares (a)	Weighted Average Grant Date Fair Value
	(Shares in thousands)
Unvested at January 1, 2023	21,690	$	7.04	409	$	12.97	507	$	3.14
Granted	17,152	2.53		55	2.51		—	—
Vested	(5,991)	7.42		(1)	12.83		—	—
Forfeited	(5,853)	5.66		(358)	12.49		(240)	13.51
Unvested at December 31, 2023	26,998	$	4.39	105	$	3.35	268	$	10.42

___________________________

(a) Included in the table are MSUs and PSUs which vests in varying amounts depending upon certain market or performance conditions. The MSUs and PSUs in the table above includes these awards at their maximum potential payout.

Schedule of Changes in Outstanding Stock Options and Stock Appreciation Rights

Stock options and stock appreciation rights outstanding at December 31, 2023 and changes during the year ended December 31, 2023 were as follows:


	December 31, 2023
	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (In Years)	Aggregate Intrinsic Value
	(Shares and intrinsic value in thousands)
Outstanding at January 1, 2023	1,087	$	9.26
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	(192)	15.32
Outstanding at December 31, 2023	895	$	7.95	2.2	$	—
Exercisable	895	$	7.95	2.2	$	—

Schedule of Information for Stock Options and Stock Appreciation Rights Outstanding and Exercisable

The following table summarizes the information about stock options and stock appreciation rights outstanding and exercisable at December 31, 2023:


	Awards Outstanding & Exercisable
Range of Exercise Prices	Outstanding at December 31, 2023	Weighted Average Remaining Contractual Life (In Years)	Weighted Average Exercise Price
	(Shares in thousands)
$0.01 to $10.00	539	1.8	$	4.74
$10.01 to $20.00	356	2.8	12.81

	895	2.2	$	7.95

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Contract Asset Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Other current assets	$ 34,927	$ 37,220
Other non-current assets	$ 3,528	$ 1,904

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

U.S. and foreign (loss) earnings from continuing operations before income taxes and noncontrolling interests are as follows:


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
U.S.	$	(38,717)	$	(87,557)	$	(80,182)
Foreign	10,509		(7,001)		(13,730)
Total	$	(28,208)	$	(94,558)	$	(93,912)

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax provision (benefit) are as follows:


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
Current income tax provision:
Federal	$	1,373	$	27	$	36
State	3,198		2,650		3,038
Foreign	7,277		1,691		1,249
Current income tax provision	11,848		4,368		4,323

Deferred income tax (benefit) provision:
Federal	(8,232)		(8,045)		(27,800)
State	(1,499)		(2,894)		(8,712)
Foreign	(278)		1,181		2,295
Deferred income tax benefit	(10,009)		(9,758)		(34,217)
Income tax provision (benefit)	$	1,839	$	(5,390)	$	(29,894)

Schedule of Deferred Tax Assets and Liabilities


	December 31,
	2023		2022
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	182,386	$	187,449
Tax credit carryforwards	26,519		21,588
Capitalized research & development expenditures	18,919		12,551
Long-term lease liabilities	16,288		21,902

Capitalized software, leasehold improvements and equipment, net	10,923		—
Other	33,485		30,980
Total deferred tax assets	288,520		274,470
Less valuation allowance	(76,821)		(64,877)
Net deferred tax assets	211,699		209,593

Deferred tax liabilities:
Intangible assets, net	(46,571)		(47,016)
Right-of-use assets	(10,588)		(13,919)
Capitalized costs to obtain a contract with a customer	(9,004)		(9,264)
Capitalized software, leasehold improvements and equipment, net	—		(3,839)
Other	(92)		(83)
Total deferred tax liabilities	(66,255)		(74,121)
Net deferred tax assets	$	145,444	$	135,472

Schedule of Effective Income Tax Rate Reconciliation


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
Income tax (benefit) at the federal statutory rate of 21%	$	(5,924)	$	(19,857)	$	(19,722)
State income taxes, net of effect of federal tax benefit	1,510		362		(1,040)
Research credit	(4,912)		(7,123)		(2,431)
Stock-based compensation	4,546		3,917		(13,643)
Non-deductible executive compensation	3,514		4,731		3,312
Unbenefited losses	3,352		7,106		1,610
Net adjustment related to the reconciliation of income tax provision accruals to tax returns	(2,430)		(1,212)		335
Foreign income taxed at a different statutory tax rate	1,216		5,355		2,872
Change in judgement on beginning of the year valuation allowance	399		966		(4,165)
Deferred tax adjustment for enacted changes in tax law and rates	99		178		768
Other, net	469		187		2,210
Income tax provision (benefit)	$	1,839	$	(5,390)	$	(29,894)

Schedule of Income Tax Contingencies

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest, is as follows:


	December 31,
	2023		2022		2021
	(In thousands)
Balance at January 1	$	6,181	$	6,298	$	5,268
Additions based on tax positions related to the current year	1,564		1,342		1,317
Additions for tax positions of prior years	545		1,006		264
Reductions for tax positions of prior years	(88)		—		(91)
Settlements	(188)		(2,465)		(460)
Balance at December 31	$	8,014	$	6,181	$	6,298

INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current income tax provision:
Federal	$ 1,373	$ 27	$ 36
State	3,198	2,650	3,038
Foreign	7,277	1,691	1,249
Current income tax provision	11,848	4,368	4,323
Deferred income tax (benefit) provision:
Federal	(8,232)	(8,045)	(27,800)
State	(1,499)	(2,894)	(8,712)
Foreign	(278)	1,181	2,295
Deferred income tax benefit	(10,009)	(9,758)	(34,217)
Income tax provision (benefit)	$ 1,839	$ (5,390)	$ (29,894)

FINANCIAL STATEMENT DETAILS - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Capitalized software, leasehold improvements and equipment	$ 324,884	$ 298,428
Accumulated depreciation and amortization	(215,357)	(145,869)
Capitalized software, leasehold improvements and equipment, net	109,527	152,559
Capitalized software and computer equipment
Property, Plant and Equipment [Line Items]
Capitalized software, leasehold improvements and equipment	275,377	247,176
Leasehold improvements
Property, Plant and Equipment [Line Items]
Capitalized software, leasehold improvements and equipment	27,140	27,780
Furniture and other equipment
Property, Plant and Equipment [Line Items]
Capitalized software, leasehold improvements and equipment	10,387	10,819
Projects in progress
Property, Plant and Equipment [Line Items]
Capitalized software, leasehold improvements and equipment	$ 11,980	$ 12,653

SEGMENT INFORMATION - Operating Income (loss) and Adjusted EBITDA by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ (26,498)	$ (75,620)	$ (67,917)
Adjusted EBITDA	118,478	66,479	35,376
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Operating Income (Loss)	(61,377)	(61,794)	(56,196)
Adjusted EBITDA	(50,076)	(49,866)	(46,066)
Ads and Leads \| Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	50,043	85,593	65,485
Adjusted EBITDA	147,357	168,952	136,260
Services \| Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	(23,450)	(95,166)	(63,984)
Adjusted EBITDA	8,123	(52,126)	(48,203)
International \| Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	8,286	(4,253)	(13,222)
Adjusted EBITDA	$ 13,074	$ (481)	$ (6,615)

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Fair Value Measurements

Instruments measured at fair value on a recurring basis

The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis:


	December 31, 2023
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	215,891	$	—	$	—	$	215,891
Treasury discount notes	—		74,802		—		74,802



Total	$	215,891	$	74,802	$	—	$	290,693


	December 31, 2022
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	189,000	$	—	$	—	$	189,000
Treasury discount notes	—		24,961		—		24,961



Total	$	189,000	$	24,961	$	—	$	213,961

Financial instruments measured at fair value only for disclosure purposes

The total fair value of the outstanding long-term debt, including the current portion, is estimated using observable market prices or indices for similar liabilities, which are Level 2 inputs, and was approximately $418.1 million and $368.8 million at December 31, 2023 and December 31, 2022, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($) $ in Thousands	10 Months Ended	12 Months Ended
	Nov. 01, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue		$ 1,358,748	$ 1,764,355	$ 1,619,317
Intersegment Eliminations \| Ads and Leads
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	$ (3,500)		$ (10,300)	$ (1,900)
Discontinued Operations, Disposed of by Sale \| Total Home Roofing
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operation, ownership percentage in disposed asset	100.00%

- Definition

+ References

+ Details

BENEFIT PLANS	12 Months Ended
BENEFIT PLANS	Dec. 31, 2023
Retirement Benefits [Abstract]
BENEFIT PLANS	BENEFIT PLANS The Company’s employees in the U.S. can elect to participate in a retirement savings program offered by IAC, which is qualified under Section 401(k) of the Internal Revenue Code. Under the IAC Inc. Retirement Savings Plan (the “IAC Plan”), participating employees may contribute up to 50% of their eligible compensation, but not more than statutory limits. The Company matches fifty cents for each dollar a participant contributes in the IAC Plan, with a maximum contribution of 3% of a participant’s eligible earnings. The IAC Plan limits Company matching contributions to $10,000 per participant on an annual basis. Matching contributions under the IAC Plan for the years ended December 31, 2023, 2022, and 2021 were $8.1 million, $9.3 million, and $8.3 million, respectively. Matching contributions are invested in the same manner as each participant’s voluntary contributions in the investment options provided under the IAC Plan. An investment option in the IAC Plan is IAC common stock, but neither participant nor matching contributions are required to be invested in IAC common stock. The Company also has or participates in various benefit plans, primarily defined contribution plans, for its international employees. The Company’s contributions to these plans for the years ended December 31, 2023, 2022, and 2021 were $1.0 million, $0.8 million, and $0.7 million, respectively.

LOSS PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

LOSS PER SHARE

The following table sets forth the computation of basic and diluted loss per share attributable to Angi Inc. Class A and Class B Common Stock shareholders:


	Years Ended December 31,
	2023				2022				2021
	Basic		Diluted		Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator:
Net loss from continuing operations	$	(30,047)	$	(30,047)	$	(89,168)	$	(89,168)	$	(64,018)	$	(64,018)
Net earnings attributable to noncontrolling interests of continuing operations	(629)		(629)		(468)		(468)		(884)		(884)
Net loss from continuing operations attributable to Angi Inc. Class A and Class B Common Stock shareholders	(30,676)		(30,676)		(89,636)		(89,636)		(64,902)		(64,902)

Loss from discontinued operations, net of taxes	(10,264)		(10,264)		(38,814)		(38,814)		(6,476)		(6,476)

Net loss attributable to Angi Inc. Class A and Class B Common Stock shareholders	$	(40,940)	$	(40,940)	$	(128,450)	$	(128,450)	$	(71,378)	$	(71,378)

Denominator:
Weighted average basic Class A and Class B common stock shares outstanding	505,900		505,900		503,008		503,008		502,761		502,761
Dilutive securities (a) (b)	—		—		—		—		—		—
Denominator for loss per share—weighted average shares	505,900		505,900		503,008		503,008		502,761		502,761

Loss per share:
Loss per share from continuing operations	$	(0.06)	$	(0.06)	$	(0.18)	$	(0.18)	$	(0.13)	$	(0.13)
Loss per share from discontinued operations, net of tax	(0.02)		(0.02)		(0.08)		(0.08)		(0.01)		(0.01)
Loss per share attributable to Angi Inc. Class A and Class B Common Stock shareholders	$	(0.08)	$	(0.08)	$	(0.26)	$	(0.26)	$	(0.14)	$	(0.14)

________________________

RELATED PARTY TRANSACTIONS WITH IAC - Narrative (Details) - USD ($) shares in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Accounts payable	$ 30,393,000	$ 29,467,000	$ 30,393,000
Revenue		1,358,748,000	1,764,355,000	$ 1,619,317,000
Other non-current assets, net	61,527,000	54,466,000	61,527,000
Accounts receivable, net	71,967,000	51,100,000	71,967,000
Advertising expense		$ 459,400,000	558,400,000	553,800,000
Services Agreement
Related Party Transaction [Line Items]
Automatic renewal periods for related party agreement		1 year
Employee Matters Agreement
Related Party Transaction [Line Items]
Voting interest (as a percent)		80.00%
Chief Executive Officer
Related Party Transaction [Line Items]
Related party transactions	2,100,000	$ 9,400,000
IAC
Related Party Transaction [Line Items]
Other non-current assets, net	0	300,000	0
IAC \| Services Agreement
Related Party Transaction [Line Items]
Related party transactions		6,400,000	3,800,000	3,900,000
Accounts payable	800,000	0	800,000
IAC \| Tax Sharing Agreement
Related Party Transaction [Line Items]
Related party transactions		0	0	$ 1,500,000
Accounts payable	1,400,000	2,100,000	1,400,000
IAC \| Employee Matters Agreement \| Class A Common Stock
Related Party Transaction [Line Items]
Issuance of common stock to IAC Inc. pursuant to the employee matters agreement (in shares)				2.6
IAC \| Employee Matters Agreement \| Class B Common Stock
Related Party Transaction [Line Items]
Issuance of common stock to IAC Inc. pursuant to the employee matters agreement (in shares)				0.2
IAC \| Sublease Agreement
Related Party Transaction [Line Items]
Related party transactions		1,300,000	1,300,000	$ 600,000
Revenue		600,000	1,700,000	1,600,000
Related Party
Related Party Transaction [Line Items]
Accounts payable	$ 1,100,000	2,200,000	1,100,000
Advertising expense		$ 6,500,000	$ 7,000,000	$ 1,000,000

STOCK-BASED COMPENSATION - Information for Stock Options and Stock Appreciation Rights Outstanding and Exercisable (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2023 $ / shares shares
$0.01 to $10.00
Awards Outstanding & Exercisable
Exercise price range, lower limit (USD per share)	$ 0.01
Exercise price range, upper limit (USD per share)	10.00
$10.01 to $20.00
Awards Outstanding & Exercisable
Exercise price range, lower limit (USD per share)	10.01
Exercise price range, upper limit (USD per share)	$ 20.00
Stock Options and Stock Appreciation Rights
Awards Outstanding & Exercisable
Outstanding, number (shares) \| shares	895,000
Weighted Average Remaining Contractual Life (In Years)	2 years 2 months 12 days
Weighted-average exercise price (USD per share)	$ 7.95
Stock Options and Stock Appreciation Rights \| $0.01 to $10.00
Awards Outstanding & Exercisable
Outstanding, number (shares) \| shares	539,000
Weighted Average Remaining Contractual Life (In Years)	1 year 9 months 18 days
Weighted-average exercise price (USD per share)	$ 4.74
Stock Options and Stock Appreciation Rights \| $10.01 to $20.00
Awards Outstanding & Exercisable
Outstanding, number (shares) \| shares	356,000
Weighted Average Remaining Contractual Life (In Years)	2 years 9 months 18 days
Weighted-average exercise price (USD per share)	$ 12.81

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax (benefit) at the federal statutory rate of 21%	$ (5,924)	$ (19,857)	$ (19,722)
State income taxes, net of effect of federal tax benefit	1,510	362	(1,040)
Research credit	(4,912)	(7,123)	(2,431)
Stock-based compensation	4,546	3,917	(13,643)
Non-deductible executive compensation	3,514	4,731	3,312
Unbenefited losses	3,352	7,106	1,610
Net adjustment related to the reconciliation of income tax provision accruals to tax returns	(2,430)	(1,212)	335
Foreign income taxed at a different statutory tax rate	1,216	5,355	2,872
Change in judgement on beginning of the year valuation allowance	399	966	(4,165)
Deferred tax adjustment for enacted changes in tax law and rates	99	178	768
Other, net	469	187	2,210
Income tax provision (benefit)	$ 1,839	$ (5,390)	$ (29,894)

ORGANIZATION - Narrative (Details) project in Millions	12 Months Ended
ORGANIZATION - Narrative (Details) project in Millions	Dec. 31, 2023 category professional project segment
Noncontrolling Interest [Line Items]
Number of service categories (more than) \| category	500
Number of domestic service professionals (over) \| professional	196,000
Number of projects \| project	23
Number of operating segments \| segment	3
Angi \| IAC
Noncontrolling Interest [Line Items]
Economic interest (as a percent)	84.20%
Voting interest (as a percent)	98.10%

ORGANIZATION	12 Months Ended
ORGANIZATION	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Nature of Operations Angi Inc. connects quality home service professionals with consumers across more than 500 different categories, from repairing and remodeling homes to cleaning and landscaping. Approximately 196,000 transacting service professionals actively sought consumer matches, completed jobs, or advertised work through Angi Inc. platforms during the three months ended December 31, 2023. Additionally, consumers turned to at least one of our businesses to find a service professional for approximately 23 million projects during the year ended December 31, 2023. The Company has three operating segments: (i) Ads and Leads; (ii) Services; and (iii) International (consisting of businesses in Europe and Canada) and operates under multiple brands including Angi, HomeAdvisor, and Handy. Ads and Leads provides service professionals the capability to engage with potential customers, including quote and invoicing services, and provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals nationwide for home repair, maintenance and improvement projects. Services consumers can request household services directly through the Angi platform and Angi fulfills the request through the use of independently established home services providers engaged in a trade, occupation and/or business that customarily provides such services. The matching and pre-priced booking services and related tools and directories are provided to consumers free of charge. As used herein, “Angi,” the “Company,” “we,” “our,” “us,” and similar terms refer to Angi Inc. and its subsidiaries (unless the context requires otherwise). At December 31, 2023, IAC Inc. (“IAC”) owned 84.2% and 98.1% of the economic and voting interests, respectively, of the Company. Total Home Roofing, LLC Sale On November 1, 2023, Angi Inc. completed the sale of 100% of its wholly-owned subsidiary, Total Home Roofing, LLC (“THR,” which comprised its Roofing segment), and has reflected it as a discontinued operation in its financial statements. See “Note 16—Discontinued Operations” for additional details. The financial information for prior periods has been recast to conform to the current year presentation.

LEASES - Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
ROU assets	$ 45,971	$ 56,313
Liabilities:
Current lease liabilities	17,797	16,328
Long-term lease liabilities	51,550	72,688
Total lease liabilities	$ 69,347	$ 89,016
Operating lease, right-of-use asset, balance sheet location [Extensible List]	Other non-current assets, net	Other non-current assets, net
Operating lease, liability, current, balance sheet location [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating lease, liability, noncurrent, balance sheet location [Extensible List]	Other long-term liabilities	Other long-term liabilities

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information of Leases

The following table presents the balances of ROU assets and lease liabilities within the balance sheet:


		December 31,
Leases	Balance Sheet Classification	2023		2022
		(In thousands)
Assets:
ROU assets	Other non-current assets	$	45,971	$	56,313

Liabilities:
Current lease liabilities	Accrued expenses and other current liabilities	$	17,797	$	16,328
Long-term lease liabilities	Other long-term liabilities	51,550		72,688
Total lease liabilities		$	69,347	$	89,016

Schedule of Lease Cost and Other Information

The following table presents the net lease expense within the statement of operations:


		Years Ended December 31,
Lease Expense	Statement of Operations Classification	2023		2022		2021
		(In thousands)
Fixed lease expense	Cost of revenue	$	392	$	437	$	346
Fixed lease expense	Selling and marketing expense	116		2,669		7,305
Fixed lease expense	General and administrative expense	11,225		11,122		16,461
Fixed lease expense	Product development expense	399		492		1,232
Total fixed lease expense(a)		12,132		14,720		25,344

Variable lease expense	Selling and marketing expense	36		200		1,087
Variable lease expense	General and administrative expense	5,071		4,444		2,438
Variable lease expense	Product development expense	156		23		567
Total variable lease expense		5,263		4,667		4,092
Net lease expense		$	17,395	$	19,387	$	29,436

________________________________

The following is the supplemental cash flow information:


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
ROU assets obtained in exchange for lease liabilities	$	6,696	$	2,911	$	2,848
Derecognition of ROU assets due to termination or modification	$	(5,266)	$	(772)	$	(1,555)
Cash paid for amounts included in the measurement of lease liabilities	$	25,806	$	22,484	$	23,285

Schedule of Maturities of Operating Lease Liabilities

Maturities of lease liabilities as of December 31, 2023(b) are summarized below:


Years Ending December 31:	(In thousands)
2024	$	21,396
2025	17,581
2026	16,865
2027	12,488
2028	6,266
Thereafter	5,329
Total	79,925
Less: Interest	10,578
Present value of lease liabilities	$	69,347

________________________________

(b) At December 31, 2023 there were no legally binding minimum lease payments for leases signed but not yet commenced.

Schedule of Weighted-Average Lease Term and Discount Rate of Leases

The following are the weighted average assumptions used for lease term and discount rate:


	December 31,
	2023		2022
Remaining lease term	4.4 years		5.3 years
Discount rate	6.59	%	6.19	%

SHAREHOLDERS' EQUITY - Narrative (Details) $ in Millions	12 Months Ended
SHAREHOLDERS' EQUITY - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($) vote shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Mar. 09, 2020 shares
Class of Stock [Line Items]
Stock authorized for repurchase (in shares)				20,000,000
Stock repurchased during period (in shares)	4,400,000	1,000,000	3,200,000
Shares repurchased during period, value \| $	$ 11.1	$ 8.1	$ 35.4
Remaining stock authorized for repurchase (in shares)	10,600,000
Angi \| IAC
Class of Stock [Line Items]
Economic interest (as a percent)	84.20%
Voting interest (as a percent)	98.10%
Class A Common Stock
Class of Stock [Line Items]
Votes per each share of stock \| vote	1
Common stock outstanding (in shares)	82,208,000	82,600,000
Common stock reserved (in shares)	42,900,000
Class A Common Stock \| Angi \| IAC
Class of Stock [Line Items]
Common stock outstanding (in shares)	2,600,000
Class B Common Stock
Class of Stock [Line Items]
Votes per each share of stock \| vote	10
Common stock outstanding (in shares)	422,019,000	422,019,000
Class B Common Stock \| Angi \| IAC
Class of Stock [Line Items]
Common stock outstanding (in shares)	422,000,000
Minimum proportion of non-voting capital stock that parent is enabled to maintain upon issuance of new stock (as a percent)	80.10%
Class C Common Stock
Class of Stock [Line Items]
Common stock outstanding (in shares)	0	0
Class C Common Stock \| Delaware
Class of Stock [Line Items]
Fractional votes for each share of common stock \| vote	0.01

FINANCIAL STATEMENT DETAILS - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash (paid) received during the year for:
Interest expense—third-party	$ (19,375)	$ (19,375)	$ (21,450)
Income tax payments, including amounts paid to IAC for Angi Inc.'s share of IAC's consolidated tax liability	(4,957)	(1,551)	(4,647)
Income tax refunds, including amounts received from IAC for Angi Inc.’s share of IAC's consolidated tax liability	$ 282	$ 396	$ 587

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

The Company currently has one active stock plan, which became effective on September 29, 2017 (“the Combination”). The 2017 plan (“the Plan”) covers stock options, stock appreciation rights and RSU awards, including those that are linked to the achievement of the Company’s stock price, known as market-based awards (“MSUs”) and those that are linked to the achievement of a performance target, known as performance-based awards (“PSUs”), denominated in shares of Angi Inc. common stock, as well as provides for the future grant of these and other equity awards. The Plan authorizes the Company to grant awards to its employees, officers, directors and consultants. At December 31, 2023, there are 14.0 million shares available for grant under the Plan.

The Plan has a stated term of ten years, and provides that the exercise price of stock options and stock appreciation rights granted will not be less than the market price of the Company’s common stock on the grant date. The Plan does not specify grant dates or vesting schedules for awards, as those determinations have been delegated to the Compensation Committee of Angi Inc. Board of Directors (the “Committee”). Each grant agreement reflects the grant date and vesting schedule for that particular grant as determined by the Committee. Stock options and stock appreciation rights granted under the Plan generally

vest in equal annual installments over a four-year period from the grant date. RSU awards granted under the Plan generally vest either in one installment over a three-year period, in equal annual installments over a four-year period, or a three-year graded schedule (installments of 57% in first year, 29% in second year, and 14% in last year), in each case, from the grant date. PSU and MSU awards granted subsequent to the Combination generally cliff vest in a two to five-year period from the grant date.

Stock-based compensation expense recognized in the statement of operations includes expense related to: (i) the Company’s RSUs, stock options and stock appreciation rights; (ii) equity instruments denominated in shares of its subsidiaries; and (iii) IAC denominated restricted stock. The amount of stock-based compensation expense recognized is net of estimated forfeitures. The forfeiture rate is estimated at the grant date based on historical experience and revised, if necessary, in subsequent periods if actual forfeitures differ from the estimated rate. The expense ultimately recorded is for the awards that vest. At December 31, 2023, there was $47.8 million of unrecognized compensation cost, net of estimated forfeitures, related to all equity-based awards, which is expected to be recognized over a weighted average period of approximately 2.29 years.

The total income tax benefit recognized in the statement of operations for the years ended December 31, 2023, 2022, and 2021 related to all stock-based compensation is $2.9 million, $3.6 million, $16.8 million, respectively.

The aggregate income tax benefit/(detriment) recognized related to the exercise of stock options and stock appreciation rights for the years ended December 31, 2023, 2022, and 2021 is $0.1 million, $(0.3) million, and $10.8 million, respectively. There may be some delay in the timing of the realization of the cash benefit of the income tax deductions related to stock-based compensation because it will be dependent upon the amount and timing of future taxable income and the timing of estimated income tax payments.

Restricted Stock Units, Market-based Stock Units and Performance-based Stock Units

RSUs, MSUs, and PSUs are awards in the form of phantom shares or units denominated in a hypothetical equivalent number of shares of Angi Inc. common stock and with the value of each RSU and PSU equal to the fair value of Angi Inc. common stock at the date of grant. The value of each MSU is estimated using a lattice model that incorporates a Monte Carlo simulation of Angi Inc.’s stock price. Each RSU, MSU, and PSU grant is subject to service-based vesting, where a specific period of continued employment must pass before an award vests. MSUs also include market-based vesting, tied to the stock price of Angi Inc. before an award vests and PSUs include performance-based vesting, where certain performance targets set at the time of grant must be achieved before an award vests. For RSU grants, the expense is measured at the grant date as the fair value of Angi Inc. common stock and expensed as stock-based compensation over the vesting term. For MSU grants, the expense is measured using a lattice model and expensed as stock-based compensation over the requisite service period. For PSU grants, the expense is measured at the grant date as the fair value of Angi Inc. common stock and expensed as stock-based compensation over the vesting term if the performance targets are considered probable of being achieved.

Unvested RSUs, MSUs, and PSUs outstanding at December 31, 2023 and changes during the year ended December 31, 2023 are as follows:


	RSUs			MSUs			PSUs
	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares (a)	Weighted Average Grant Date Fair Value		Number of Shares (a)	Weighted Average Grant Date Fair Value
	(Shares in thousands)
Unvested at January 1, 2023	21,690	$	7.04	409	$	12.97	507	$	3.14
Granted	17,152	2.53		55	2.51		—	—
Vested	(5,991)	7.42		(1)	12.83		—	—
Forfeited	(5,853)	5.66		(358)	12.49		(240)	13.51
Unvested at December 31, 2023	26,998	$	4.39	105	$	3.35	268	$	10.42

___________________________

In 2019, the Company granted certain MSUs that were liability-classified stock-settled awards with a market condition. The fair value of these awards were subject to remeasurement each reporting period until settlement of the award occurred in 2021. The total expense related to these awards recognized was $10.4 million, equal to the number of shares vested based on the fair value of Angi Inc. common stock on the settlement date.

The weighted average fair value of RSUs granted during the years ended December 31, 2023, 2022, and 2021 based on market prices of Angi Inc. common stock on the grant date was $2.53, $4.95, and $12.73, respectively. The weighted average fair value of MSUs granted during the years ended December 31, 2023, 2022, and 2021 based on the lattice model, was $2.51, $6.39, and $14.39, respectively. There were no PSUs granted during the years ended December 31, 2023 and 2022. The weighted average fair value of PSUs granted during the year ended December 31, 2021, based on market prices of Angi Inc. common stock on the grant date, was $13.51. The total fair value of RSUs that vested during the years ended December 31, 2023, 2022, and 2021 was $15.5 million, $20.8 million and $35.2 million, respectively. The total fair value of MSUs that vested during the years ended December 31, 2023 and 2021 was $0.1 million and $2.1 million, respectively. There were no MSUs that vested during the year ended December 31, 2022. There were no PSUs that vested during the year ended December 31, 2023. The total fair value of PSUs that vested during the years ended December 31, 2022, and 2021 was $0.1 million, and $3.6 million, respectively.

Stock Options and Stock Appreciation Rights

Stock options and stock appreciation rights outstanding at December 31, 2023 and changes during the year ended December 31, 2023 were as follows:


	December 31, 2023
	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (In Years)	Aggregate Intrinsic Value
	(Shares and intrinsic value in thousands)
Outstanding at January 1, 2023	1,087	$	9.26
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	(192)	15.32
Outstanding at December 31, 2023	895	$	7.95	2.2	$	—
Exercisable	895	$	7.95	2.2	$	—

The aggregate intrinsic value in the table above represents the difference between Angi Inc. closing stock price on the last trading day of 2023 and the exercise price, multiplied by the number of in-the-money awards that would have been exercised had all award holders exercised their awards on December 31, 2023. There were no stock options or stock appreciation rights exercised during the year ended December 31, 2023. The total intrinsic value of awards exercised during the years ended December 31, 2022 and 2021 is $1.3 million and $103.8 million, respectively.

The following table summarizes the information about stock options and stock appreciation rights outstanding and exercisable at December 31, 2023:


	Awards Outstanding & Exercisable
Range of Exercise Prices	Outstanding at December 31, 2023	Weighted Average Remaining Contractual Life (In Years)	Weighted Average Exercise Price
	(Shares in thousands)
$0.01 to $10.00	539	1.8	$	4.74
$10.01 to $20.00	356	2.8	12.81

	895	2.2	$	7.95

There were no stock options or stock appreciation rights granted by the Company for the years ended December 31, 2023, 2022, and 2021.

In connection with the Combination, the previously issued HomeAdvisor (US) stock appreciation rights were converted into Angi Inc. equity awards resulting in a modification charge. There were no charges included in stock-based compensation expense in the years ended December 31, 2023 and 2022 and charges of $0.9 million for the year ended December 31, 2021 related to these modified awards.

No cash was received from stock option exercises during the years ended December 31, 2023, 2022 and 2021 because they were net settled in shares of Angi Inc. common stock.

The Company currently settles all equity awards on a net basis with the Company remitting withholding taxes on behalf of the employee or on a gross basis with the Company issuing a sufficient number of Class A shares to cover the withholding taxes. In addition, at IAC’s option, certain awards can be settled in either Class A shares of Angi Inc. or shares of IAC common stock. If settled in IAC common stock, Angi Inc. reimburses IAC in either cash or through the issuance of Class A shares to IAC. Assuming all of the stock appreciation rights outstanding on December 31, 2023 were net settled on that date, ANGI would have issued no Class A shares (either to award holders or to IAC as reimbursement) and ANGI would have remitted nothing in cash for withholding taxes (assuming a 50% withholding rate). Assuming all other ANGI equity awards outstanding on December 31, 2023, were net settled on that date, including stock options, RSUs and subsidiary denominated equity described below, ANGI would have issued 13.8 million Class A shares and would have remitted $34.3 million in cash for withholding taxes (assuming a 50% withholding rate).

Equity Instruments Denominated in the Shares of Certain Subsidiaries

Angi Inc. has granted stock appreciation rights denominated in the equity of certain non-publicly traded subsidiaries to employees and management of those subsidiaries. These equity awards vest over a period of years, which is typically four years. The value of the stock appreciation rights is tied to the value of the common stock of these subsidiaries, which is determined by the Company using a variety of valuation techniques including a combination of market based and discounted cash flow valuation methodologies. Accordingly, these interests only have value to the extent the relevant business appreciates in value above the initial value utilized to determine the exercise price. These interests can have significant value in the event of significant appreciation. The fair value of these interests is generally determined by the board of directors of the applicable subsidiary when settled, which will occur at various dates through 2027 and are ultimately settled in IAC common stock or Angi Inc. Class A common stock, at IAC’s election. These equity awards are settled on a net basis, with the award holder entitled to receive a payment in shares equal to the intrinsic value of the award at exercise less an amount equal to the required cash tax withholding payment. The expense associated with these equity awards is initially measured at fair value, using the Black-Scholes option pricing model, at the grant date and is expensed as stock-based compensation over the vesting term.

The plans under which these awards are granted establish specific settlement dates or liquidity events for which the valuation of the relevant subsidiary is determined for purposes of settlement of the awards.

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Intangible Assets, Net

Goodwill and intangible assets, net are as follows:


	December 31,
	2023		2022
	(In thousands)
Goodwill	$	886,047	$	882,949
Intangible assets with indefinite lives	170,773		170,147
Intangible assets with definite lives, net of accumulated amortization	—		7,958
Total goodwill and intangible assets, net	$	1,056,820	$	1,061,054

Schedule of Goodwill by Reporting Unit

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2023:


	Balance at December 31, 2022		Foreign Currency Translation		Balance at December 31, 2023
	(In thousands)
Ads and Leads	$	761,133	$	—	$	761,133
Services	51,197		—		51,197
International	70,619		3,098		73,717

Total goodwill	$	882,949	$	3,098	$	886,047

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2022:


	Balance at December 31, 2021		Deductions		Reporting Unit Allocation Adjustment		Impairments		Foreign Currency Translation		Balance at December 31, 2022
	(In thousands)
North America	$	843,193	$	(816)	$	(841,800)	$	—	$	(577)	$	—
Europe	72,846		—		(61,334)		—		(11,512)		—
Ads and Leads	—		—		761,133		—		—		761,133
Services	—		—		51,197		—		—		51,197
International	—		—		64,799		—		5,820		70,619
Total	916,039		(816)		(26,005)		—		(6,269)		882,949
Roofing (included in discontinued operations)	—		—		26,005		(26,005)		—		—
Total goodwill	$	916,039	$	(816)	$	—	$	(26,005)	$	(6,269)	$	882,949

Schedule of Intangible Assets with Definite Lives

Intangible assets with indefinite lives are trade names and trademarks acquired in various acquisitions. At December 31, 2023 and 2022, intangible assets with definite lives are as follows:


	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life (Years)
	(Dollars in thousands)
Technology	$	82,234	$	(82,234)	$	—	5.5


Service professional relationships	5,619		(5,619)		—		2.5
Trade names	1,376		(1,376)		—		5.0
Total	$	89,229	$	(89,229)	$	—	5.3


	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life (Years)
	(Dollars in thousands)
Technology	$	82,114	$	(74,156)	$	7,958	5.5


Service professional relationships	95,858		(95,858)		—		3.0
Trade names	1,327		(1,327)		—		5.0
Total	$	179,299	$	(171,341)	$	7,958	4.1

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details