UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 2.02 Results of Operations and Financial Condition.
Item 7.01 Regulation FD Disclosure.
On October 7, 2020, the Registrant announced that IAC/InterActiveCorp (the Registrant’s controlling shareholder (“IAC”)) had posted a shareholder letter on the investor relations section of IAC’s website (https://www.iac.com/investor-relations/overview/), which letter contains preliminary monthly trends for the Registrant through September 30, 2020 as set forth immediately below.
| Year Over Year Growth (1) | |||||||||||||||||||||||||||
| 1/2020 | 2/2020 | 3/2020 | 4/2020 | 5/2020 | 6/2020 | 7/2020 | 8/2020 | 9/2020 | |||||||||||||||||||
| ANGI Homeservices | |||||||||||||||||||||||||||
| Marketplace Revenue | 25 | % | 27 | % | 3 | % | -2 | % | 20 | % | 18 | % | 10 | % | 15 | % | 12 | % | |||||||||
| Advertising & Other Revenue | 7 | % | 8 | % | 4 | % | 4 | % | 1 | % | 0 | % | -2 | % | -1 | % | 2 | % | |||||||||
| Total North America Revenue | 21 | % | 23 | % | 3 | % | -1 | % | 16 | % | 15 | % | 7 | % | 12 | % | 10 | % | |||||||||
| Europe Revenue | 3 | % | -3 | % | -27 | % | -28 | % | -7 | % | 8 | % | -5 | % | 2 | % | -5 | % | |||||||||
| Total ANGI Homeservices Revenue | 19 | % | 21 | % | 1 | % | -2 | % | 15 | % | 14 | % | 7 | % | 12 | % | 9 | % | |||||||||
| Other ANGI Homeservices Metrics | |||||||||||||||||||||||||||
| Marketplace Service Requests | 11 | % | 13 | % | -12 | % | -8 | % | 27 | % | 34 | % | 24 | % | 33 | % | 30 | % | |||||||||
| Marketplace Monetized Transactions | 4 | % | 11 | % | -11 | % | -11 | % | 8 | % | 10 | % | 5 | % | 10 | % | 10 | % | |||||||||
| Marketplace Transacting Service Professionals | 8 | % | 8 | % | 5 | % | 4 | % | 4 | % | 3 | % | 7 | % | 9 | % | 9 | % | |||||||||
| Advertising Service Professionals | 4 | % | 7 | % | 4 | % | 4 | % | 3 | % | 4 | % | 5 | % | 6 | % | 5 | % | |||||||||
| (1) | As of the date of this report, the Registrant has not yet completed its financial close process for the quarter ended September 30, 2020 and its monthly results continue to be volatile as the global COVID–19 pandemic continues to change consumer and business behavior in unpredictable ways. As a result, the information set forth above is preliminary and based upon information available to the Registrant as of the date of this report. During the course of the Registrant’s financial close process for the quarter ended September 30, 2020, it may identify items that would require adjustments to the information set forth above, which could be material. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ANGI HOMESERVICES INC. | ||
| By: | /s/ Jamie Cohen | |
| Name: | Jamie Cohen | |
| Title: | Chief Financial Officer | |
Date: October 8, 2020