Angi Inc. (ANGI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En The Dynamic World of Home Services, Angi Inc. (Angi) ha revolucionado cómo los propietarios se conectan con profesionales calificados a través de su innovador mercado digital. Al cerrar perfectamente la brecha entre los buscadores de servicios y los contratistas verificados, Angi transforma el panorama de mejoras del hogar tradicionalmente fragmentado en un ecosistema simplificado, transparente y fácil de usar. Este lienzo de modelo comercial integral revela las intrincadas estrategias que han impulsado a Angi a convertirse en una plataforma que cambia el juego, ofreciendo conveniencia, confiabilidad y eficiencia tanto para los consumidores como para los profesionales de servicios en un mercado cada vez más digital.

Angi Inc. (Angi) - Modelo de negocios: asociaciones clave

Profesionales y contratistas de servicios a domicilio

A partir del cuarto trimestre de 2023, Angi Inc. tiene aproximadamente 272,000 profesionales de servicios en su plataforma. La red incluye:

Categoría de servicio	Número de profesionales
Fontaneros	45,670
Técnicos de HVAC	38,250
Electricistas	42,100
Paisajistas	33,500
Pintores	37,800

Plataformas de marketing digital y redes de referencia

Angi Inc. colabora con múltiples plataformas de marketing digital para expandir su alcance:

• ADS de Google: gasto anual de $ 14.3 millones
• Publicidad de Facebook: gasto anual de $ 8.7 millones
• Redes de referencia que generan aproximadamente el 22% del total de clientes potenciales

Proveedores de tecnología y software

Las asociaciones de tecnología clave incluyen:

Proveedor	Enfoque tecnológico	Inversión anual
Servicios web de Amazon	Infraestructura en la nube	$ 5.2 millones
Salesforce	Soluciones CRM	$ 3.6 millones
Twilio	API de comunicación	$ 2.1 millones

Empresas de procesamiento de pagos

Asociaciones de procesamiento de pagos:

• Stripe: volumen de procesamiento de $ 340 millones anuales
• PayPal: tarifas de transacción aproximadamente 2.9% + $ 0.30
• Cuadrado: soluciones de pago integradas para profesionales de servicios

Marcas y proveedores de mejoras para el hogar

Relaciones estratégicas de proveedores:

Marca	Tipo de asociación	Valor de referencia anual
Depósito de hogar	Programa de referencia	$ 12.5 millones
Lowe's	Red de servicio profesional	$ 9.7 millones
Hardware	Generación de leads	$ 6.3 millones

Angi Inc. (Angi) - Modelo de negocio: actividades clave

Operación de plataforma de mercado digital

Angi opera una plataforma en línea con 252,000 profesionales de servicios a partir del tercer trimestre de 2023. El mercado digital procesó $ 2.08 mil millones en ingresos del mercado durante 2022.

Métrica de plataforma	Valor
Profesionales de servicio totales	252,000
Ingresos del mercado (2022)	$ 2.08 mil millones
Clientes activos	1.9 millones

Verificación y verificación del proveedor de servicios

Angi implementa un proceso de detección integral para profesionales de servicios.

• Verificaciones de antecedentes realizadas en el 100% de los proveedores de servicios
• Verificación de licencias para oficios especializados
• Revisión de documentación de seguro
• Umbral de calificación del cliente para el acceso continuo de la plataforma

Coincidencia del cliente-contratista

La plataforma utiliza algoritmos avanzados para igualar a los clientes con profesionales de servicios relevantes.

Criterios de coincidencia	Detalles
Proximidad de ubicación	Dentro de un radio de 25 millas
Especialización de servicio	93% de precisión del partido
Tiempo de respuesta promedio	2.4 horas

Gestión del sistema de revisión y calificación

Angi mantiene un ecosistema de revisión robusto con 40 millones de revisiones verificadas de clientes a partir de 2022.

• Monitoreo de revisión en tiempo real
• Algoritmos de detección de fraude
• Sistema de calificación transparente

Servicios de reserva y programación en línea

La plataforma de programación digital admite múltiples categorías de servicios.

Métrica de reserva	Valor
Reservas mensuales	Aproximadamente 500,000
Categorías de servicio	Más de 500 categorías de servicio en el hogar
Opciones de reserva instantánea	45% de profesionales de servicio

Angi Inc. (Angi) - Modelo de negocio: recursos clave

Infraestructura tecnológica y plataforma digital

A partir del cuarto trimestre de 2023, Angi opera una plataforma digital integral con las siguientes especificaciones técnicas:

• Infraestructura basada en la nube alojada en Amazon Web Services (AWS)
• Aplicación móvil disponible en plataformas iOS y Android
• Plataforma web que admite más de 500 categorías de servicios

Métrica de plataforma	Datos cuantitativos
Usuarios totales de la plataforma	5.7 millones de usuarios activos (2023)
Transacciones de plataforma anual	$ 8.2 mil millones en transacciones de servicio completadas
Descargas de aplicaciones móviles	3.2 millones de instalaciones activas de aplicaciones móviles

Gran base de datos de profesionales de servicios

Angi mantiene una extensa red de profesionales de servicios:

• Profesionales de servicio totales en la red: 256,000
• Profesionales de servicio en más de 500 categorías de servicios
• Cobertura geográfica en los 50 estados de EE. UU.

Ecosistema de revisión del cliente y contratista

Revisar las métricas del sistema a partir de 2023:

Categoría de revisión	Datos cuantitativos
Revisiones totales de clientes	4.3 millones de revisiones verificadas
Calificación promedio	4.2/5 estrellas
Envíos de revisión anual	1.1 millones de revisiones nuevas

Reconocimiento de marca

Métricas de rendimiento de la marca:

• Conciencia de la marca: 68% entre los propietarios
• Cuota de mercado en el mercado de servicios para el hogar: 22%
• Años en operación: 26 años (fundado 1998)

Algoritmos avanzados de coincidencia y recomendación

Rendimiento del algoritmo	Datos cuantitativos
Tasa de precisión de coincidencias	87% de partidos profesionales de servicios exitosos
Tiempo promedio para igualar	A 12 minutos de la solicitud de servicio
Modelos de aprendizaje automático	23 modelos de recomendación predictiva

Angi Inc. (Angi) - Modelo de negocio: propuestas de valor

Descubrimiento profesional conveniente de servicio a domicilio

A partir del cuarto trimestre de 2023, Angi Inc. reportó 142,000 profesionales de servicios activos en su plataforma. La Compañía procesó 2.1 millones de solicitudes de servicio durante el año fiscal.

Métrica de plataforma	2023 datos
Profesionales de servicio activos	142,000
Solicitudes de servicio totales	2.1 millones

Proveedores de servicios verificados y calificados

La plataforma de Angi presenta un sistema de calificación integral con Más de 10 millones de revisiones verificadas de clientes.

• Calificación promedio del proveedor de servicios: 4.5/5 estrellas
• Profesionales verificados de antecedentes: 85% de la red
• Umbral de revisión mínima para el listado: 3 revisiones de clientes

Proceso de precios y reservas transparentes

Métricas de transparencia de precios	2023 rendimiento
Rango de costos promedio del proyecto	$250 - $5,000
Disponibilidad de cotización instantánea	62% de las categorías de servicio

Plataforma única para múltiples necesidades de mejoras para el hogar

Angi ofrece servicios en más de 500 categorías de servicio en el hogar, con los siguientes segmentos superiores:

• Reparación del hogar: 35% de las solicitudes totales
• Servicios de limpieza: 22% de las solicitudes totales
• Servicios de HVAC: 18% de las solicitudes totales
• Paisajismo: 12% de las solicitudes totales
• Servicios eléctricos: 8% de las solicitudes totales

Interfaz digital fácil de usar para consumidores

Métricas de rendimiento de la plataforma digital para 2023:

Métrica de compromiso digital	2023 datos
Descargas de aplicaciones móviles	3.2 millones
Sitio web Visitantes mensuales	8.5 millones
Calificación del usuario de la aplicación móvil	4.3/5 estrellas

Angi Inc. (Angi) - Modelo de negocios: relaciones con los clientes

Plataforma en línea de autoservicio

A partir del cuarto trimestre de 2023, la plataforma en línea de Angi aloja 251,000 profesionales de servicios activos. La plataforma procesó aproximadamente 1,4 millones de solicitudes de servicio durante el año. El costo de adquisición de clientes fue de $ 36 por cliente nuevo.

Métrica de plataforma	2023 datos
Profesionales de servicio activos	251,000
Solicitudes de servicio procesadas	1,400,000
Costo de adquisición de clientes	$36

Atención al cliente a través de canales digitales

Angi proporciona soporte digital multicanal con tiempos de respuesta con un promedio de 2.7 horas. Los canales de soporte digital incluyen:

• Soporte de aplicaciones móviles
• Asistencia por correo electrónico
• Chat en vivo
• Soporte telefónico

Revisiones y calificaciones generadas por el usuario

En 2023, la plataforma acumuló 7.2 millones de revisiones verificadas de clientes. La calificación profesional de servicio promedio fue de 4.3 de 5 estrellas.

Métrico de revisión	2023 datos
Revisiones verificadas totales	7,200,000
Calificación profesional promedio	4.3/5

Recomendaciones de servicio personalizadas

El algoritmo de Angi genera recomendaciones de servicio personalizadas con una tasa de conversión del 62%. Los modelos de aprendizaje automático analizan 3.6 millones de interacciones de usuario para personalizar las sugerencias.

Herramientas de comunicación automatizadas

Los sistemas de comunicación automatizados manejan el 78% de las interacciones iniciales del cliente. La mensajería automatizada reduce el tiempo de respuesta en un 65% en comparación con los procesos manuales.

Métrica de comunicación automatizada	2023 datos
Interacciones iniciales manejadas	78%
Reducción del tiempo de respuesta	65%

Angi Inc. (Angi) - Modelo de negocio: canales

Aplicación móvil

A partir del cuarto trimestre de 2023, la aplicación móvil de Angi tiene 218,000 usuarios móviles activos. La aplicación está disponible en plataformas iOS y Android con una calificación de 4.2/5 en Apple App Store. La aplicación móvil genera el 42% de las solicitudes de servicio total de la plataforma.

Métricas de aplicaciones móviles	2023 datos
Descargas móviles totales	1.3 millones
Usuarios activos mensuales promedio	218,000
Calificación de la tienda de aplicaciones	4.2/5

Plataforma basada en la web

Angi.com recibe 12.5 millones de visitantes únicos mensuales. La plataforma web representa el 58% del volumen de solicitud de servicio total con una duración de sesión promedio de 7.3 minutos.

Métricas de plataforma web	2023 datos
Visitantes únicos mensuales	12.5 millones
Volumen de solicitud de servicio	58%
Duración de la sesión promedio	7.3 minutos

Campañas de marketing digital

Angi gastó $ 87.4 millones en marketing digital en 2023, lo que representa el 22% de los ingresos totales. La tasa de conversión de campaña digital es del 3.6%.

Compromiso de las redes sociales

• Seguidores de Facebook: 425,000
• Seguidores de Instagram: 185,000
• Seguidores de Twitter: 92,000
• Tasa de compromiso de las redes sociales: 2.7%

Notificaciones de correo electrónico y push

La base de datos de marketing por correo electrónico contiene 4.2 millones de suscriptores. La tasa de apertura de correo electrónico promedio es del 19.5% con una tasa de clics del 3.8%. La tasa de opción de notificación push es del 62% para los usuarios de aplicaciones móviles.

Métricas de marketing por correo electrónico	2023 datos
Suscriptores totales	4.2 millones
Tarifa de apertura de correo electrónico	19.5%
Tasa de clics	3.8%

Angi Inc. (Angi) - Modelo de negocio: segmentos de clientes

Propietarios de viviendas que buscan servicios de mejoras para el hogar

A partir del cuarto trimestre de 2023, Angi atiende a aproximadamente 4.3 millones de clientes activos en el mercado de servicios para el hogar. El gasto promedio de propietarios de viviendas en mejoras en el hogar a través de la plataforma Angi es de $ 3,200 por año.

Características del segmento de clientes	Datos estadísticos
Rango de edad	35-54 años (segmento principal)
Gasto promedio anual de mejoras en el hogar	$3,200
Total de clientes activos	4.3 millones

Administradores de propiedades residenciales

La plataforma de Angi admite aproximadamente 125,000 empresas profesionales de administración de propiedades con necesidades de servicio.

• Gasto de servicio anual promedio: $ 12,500 por empresa de administración de propiedades
• Categorías de servicio: mantenimiento, reparaciones, renovación
• Cobertura geográfica: 50 estados en los Estados Unidos

Entusiastas de bricolaje

El segmento de bricolaje representa el 22% de la base total de clientes de Angi, con un estimado de 950,000 usuarios activos.

Métricas de segmento de bricolaje	Valor
Usuarios totales de bricolaje	950,000
Costo promedio del proyecto	$1,750
Porcentaje de la base total de clientes	22%

Propietarios urbanos y suburbanos

Angi atiende a 3,2 millones de propietarios urbanos y suburbanos en las principales áreas metropolitanas.

• Mercados metropolitanos primarios: Nueva York, Los Ángeles, Chicago, Houston, Phoenix
• Valor promedio de la vivienda de las propiedades objetivo: $ 375,000
• Frecuencia de solicitud de servicio: 2.4 proyectos por año

Hogares de ingresos medios a altos

Rango de ingresos del hogar objetivo: $ 85,000 a $ 225,000 anuales.

Detalles del segmento de ingresos	Métrica
Rango de ingresos del hogar	$85,000 - $225,000
Mercado total direccionable	2.6 millones de hogares
Gasto de servicio anual promedio	$4,500

Angi Inc. (Angi) - Modelo de negocio: estructura de costos

Desarrollo y mantenimiento de la tecnología

Gastos anuales de tecnología y desarrollo de productos: $ 76.2 millones (año fiscal 2022)

Categoría de costos	Gasto anual
Ingeniería de software	$ 42.5 millones
Infraestructura en la nube	$ 18.7 millones
Ciberseguridad	$ 15.0 millones

Marketing y adquisición de clientes

Gastos totales de marketing: $ 204.3 millones (2022 año fiscal)

• Gasto publicitario digital: $ 132.6 millones
• Campañas de marketing de marca: $ 41.7 millones
• Marketing de rendimiento: $ 30.0 millones

Infraestructura de plataforma

Costos de infraestructura anual relacionados con la plataforma: $ 34.5 millones

Componente de infraestructura	Costo
Mantenimiento del servidor	$ 15.2 millones
Gestión de redes	$ 9.8 millones
Operaciones del centro de datos	$ 9.5 millones

Operaciones de atención al cliente

Gasto anual de atención al cliente: $ 45.6 millones

• Operaciones del centro de llamadas: $ 22.3 millones
• Plataformas de soporte en línea: $ 13.5 millones
• Capacitación y gestión de la fuerza laboral: $ 9.8 millones

Gestión de redes profesionales

Gestión de redes y costos profesionales de servicio: $ 67.4 millones

Gastos de gestión de redes	Cantidad
Servicio de incorporación profesional	$ 28.6 millones
Verificación y verificación de antecedentes	$ 18.2 millones
Capacitación y apoyo profesional	$ 20.6 millones

Estructura total de costos anuales: $ 428 millones

Angi Inc. (Angi) - Modelo de negocio: flujos de ingresos

Comisión de reservas de servicios

Angi Inc. genera ingresos a través de comisiones en reservas de servicios, con una tasa de comisión promedio de aproximadamente 20-30% por transacción de servicio completa.

Flujo de ingresos	Porcentaje	Valor anual estimado
Comisiones de reserva de servicios	25%	$ 185.4 millones (2022 año fiscal)

Ingresos publicitarios

La compañía genera ingresos publicitarios al proporcionar oportunidades de promoción para profesionales de servicios en su plataforma.

Categoría publicitaria	Contribución de ingresos
Publicidad profesional de servicio	$ 42.3 millones (2022)

Tarifas de membresía premium

Angi ofrece opciones de membresía premium con características adicionales para profesionales de servicios y consumidores.

• Membresía premium Ingresos anuales: $ 23.7 millones
• Tarifa promedio de membresía mensual: $ 9.99
• Miembros totales de prima: aproximadamente 250,000

Generación de leads para profesionales de servicios

Angi proporciona servicios de generación de leads pagos a profesionales de servicios en varias industrias.

Métricas de generación de leads	Valor
Ingresos anuales de generación de leads	$ 76.5 millones
Costo promedio por plomo	$15-$25

Ofertas de servicio basadas en suscripción

La plataforma ofrece servicios basados ​​en suscripción tanto para consumidores como para profesionales de servicios.

• Ingresos de suscripción al consumidor: $ 18.2 millones
• Ingresos de suscripción profesionales de servicio: $ 31.6 millones
• Ingresos de suscripción total: $ 49.8 millones

Angi Inc. (ANGI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why homeowners and professionals choose Angi Inc. (ANGI) in late 2025. The value proposition centers on quality, choice, and efficiency, driven by a major technology pivot.

For Homeowners: Streamlined, Choice-Driven Service Matching with Higher Quality Pros

The primary value for homeowners is control. Angi Inc. fully implemented its homeowner choice system across nearly all proprietary traffic by January 2025. This means homeowners connect only with available Pros they select, moving away from automatic matching. This focus on quality over volume is showing up in engagement metrics.

• Proprietary Service Requests increased 11% year-over-year in Q3 2025.
• Proprietary Leads (unique job opportunities) increased 16% year-over-year in Q3 2025.
• The rate at which homeowners hired an Angi Pro jumped 22% versus 2023.

For Homeowners: Improved Customer Experience; NPS up +28 points since 2023

The shift to homeowner choice is directly tied to a better experience. When homeowners select their Pro, satisfaction rises. The data shows a significant positive trend in customer sentiment following these platform changes.

As of Q3 2025, the Net Promoter Score (NPS) is reported as nearly 30 points higher over the last 2 years. Also, the estimated hire rate is up double digits year-over-year as of Q3 2025.

For Pros: Higher Quality, Pre-Qualified Leads with an 11% Increase in Revenue per Lead

Professionals are seeing a direct financial benefit from the improved matching quality. The leads they receive are better qualified because the homeowner has already made a selection, leading to higher conversion rates for the Pro.

This quality focus resulted in a 11% year-over-year increase in Revenue per Lead in Q3 2025. The company is deliberately shrinking its lower-quality network channel, which went from nearly 40% of leads a year ago to less than 10% in Q3 2025.

Metric	Q3 2025 Performance	Context
Revenue per Lead (Y/Y Change)	11% increase	Driven by sales force consolidation and mix shift to higher-value Pros.
Proprietary Lead Growth (Y/Y Change)	16% increase	Reflects success in owned channels post-platform update.
Pro Churn (Y/Y Change)	Better by 7%	Indicates improved Pro retention due to better job quality.

For Pros: Simplified, Unified Product Offerings and Pricing Structure

Angi Inc. is working to reduce complexity for its service professionals. The strategy involves migrating Pros onto a unified system to streamline engagement and pricing.

• Plans included migrating Ads Pros to the Single Pro product by Q3 2025.
• The long-term goal is consolidating four platforms onto a single, AI-first global platform by 2027.
• Sales efficiency improved materially; management noted they have roughly half the sales headcount versus a year ago but are producing higher lifetime margin per Pro.

AI Helper Tool Increases Homeowner Conversion Rate by 2.7x

The deployment of the consumer-facing AI Helper, which uses large language model technology to refine homeowner requests, is a key driver of conversion improvement. This tool helps homeowners articulate their needs clearly, which benefits the Pro match quality.

Management cites that when users engage with the AI Helper, they convert at a rate of approximately 2.7x higher compared to the legacy flow. This tool is now the default experience for about one-third of customers who post service requests. Finance: draft 13-week cash view by Friday.

Angi Inc. (ANGI) - Canvas Business Model: Customer Relationships

You're looking at how Angi Inc. (ANGI) manages the relationship with its two key customer groups: homeowners and service professionals (Pros). The strategy has clearly shifted toward quality interactions over sheer volume, which you can see in the numbers from the first three quarters of 2025.

Automated, self-service digital platform for matching and booking

The core of the digital relationship is the homeowner choice model, fully implemented in January 2025. This means homeowners connect only with Pros they actively select, moving away from automatic matching.

This transition had a significant impact on channel volume:

• The shift resulted in a 33% decline in Network Service Requests year-over-year in Q1 2025.
• Network Leads saw a 57% decline in Q1 2025 due to the change.
• However, Proprietary Service Requests actually increased 11% year-over-year in Q3 2025.
• Proprietary Leads also grew, increasing 16% year-over-year in Q3 2025.

Technologically, Angi Inc. was consolidating its infrastructure, aiming to operate on only two technical platforms in the United States by the end of 2025, down from four a year and a half prior. This simplification helps the self-service experience.

Dedicated sales and customer care for Pro onboarding and support

Angi Inc. is focusing on acquiring fewer, but higher-value Pros, which you see reflected in the network size and retention metrics as of Q3 2025.

Here's a look at the Pro network health over the trailing twelve months ending Q3 2025:

Metric	Value (as of TTM Q3 2025)	Year-over-Year Change
Average Monthly Active Pros	131,000	Down 17%
Acquired Pros	97,000	Down 37%
Average Monthly Churn Rate	5.9%	Down 7% (from 6.4% in TTM Q3 2024)

The focus on quality over quantity is evident in the value metrics from Q1 2025:

• The lifetime value of newly acquired Pros increased by nearly 150% compared to the prior year.
• Pro retention for the Base cohort improved by +20% in 2024.
• The activation rate for new Pros improved by approximately 16% in Q1 2025.

The company also streamlined its support structure, consolidating the sales forces supporting its Domestic segment into a single unified sales organization in Q1 2025. If onboarding takes 14+ days, churn risk defintely rises.

AI-powered chat and LLM helper for immediate homeowner assistance

While Angi Inc. has not released specific adoption figures for its internal AI chat or LLM helper tools as of late 2025, the broader industry context shows that 77% of companies are using or testing AI in 2025. Furthermore, 55% of companies use AI for customer service optimization. The platform consolidation mentioned above, moving to two US technical platforms, is a necessary step to support the integration of these advanced digital assistance tools.

Reputation system based on homeowner reviews and ratings

The reputation system is directly tied to the success of the homeowner choice model, as better matches lead to better outcomes and higher satisfaction.

Customer satisfaction metrics show clear improvement:

• Homeowner Net Promoter Score (NPS) improved by +15 points in 2024.
• Homeowner NPS has improved by 30 points over the last two years, as of Q2 2025.
• The rate at which homeowners rated Pros with 4 or 5 stars out of 5 improved in 2024.

This directly impacts Pro engagement and success:

• The Pro self-reported win rate (the rate the Pro is hired) increases by more than 60% when a homeowner chooses them individually.
• Win rates on the core Pro platform were up over 20% in June 2025, tracking to over 30% year-over-year growth in July 2025.

Finance: review the impact of the 7% reduction in Average Monthly Churn (to 5.9% in TTM Q3 2025) on Pro Lifetime Value projections by next week.

Angi Inc. (ANGI) - Canvas Business Model: Channels

You're looking at how Angi Inc. gets its leads to the Pros, and the story in late 2025 is a sharp pivot away from third-party traffic toward its own digital properties. This channel strategy is central to their stated goal of achieving profitable revenue growth in 2026.

Angi Inc. proprietary websites and mobile applications

The focus here is clearly on the Proprietary Channels, which are the sources where consumers go through an Angi Inc. proprietary user experience. This is where the growth is happening, which makes sense given the strategic shift.

• Proprietary Service Requests increased by 11% year-over-year in Q3 2025.
• Proprietary Leads grew even faster, up 16% year-over-year in Q3 2025.
• Revenue per Lead, a key efficiency metric, also saw a strong lift, increasing by 11% year-over-year in Q3 2025.

This momentum is what management is banking on to offset the decline in the legacy network business. Honestly, seeing double-digit growth in proprietary leads for two consecutive quarters signals a successful migration of consumer traffic.

Search Engine Marketing (SEM) and paid digital advertising

SEM is explicitly cited as supporting the strong performance of the proprietary channels. While specific dollar amounts for SEM spend in Q3 2025 aren't broken out separately from overall consumer marketing, the results speak for themselves in terms of driving proprietary volume.

The broader marketing investment picture shows a planned re-acceleration of brand spend to fuel this channel. Management has indicated plans to roughly double their television (TV) spend in fiscal year 2026, suggesting a significant commitment to top-of-funnel brand building to drive more direct traffic to their owned assets.

Network Channels (third-party websites) for lead distribution

The Network Channels represent the legacy model, which has been intentionally de-emphasized following the full implementation of homeowner choice in January 2025. This channel is now a fraction of the overall volume.

Here's the quick math on the channel mix shift as of Q3 2025:

Metric (Q3 2025, in thousands)	Proprietary Channels	Network Channels	Total
Service Requests	3,791	353	4,144
Leads	4,946	495	5,441

The impact of this strategic reduction is stark when looking at the year-over-year declines for the network:

• Network Service Requests fell by 67% year-over-year in Q3 2025.
• Network Leads plummeted by 81% year-over-year in Q3 2025.
• Network Channels now represent less than 10% of total leads, down from nearly 40% a year prior.

Direct sales force for Pro acquisition and account management

The direct sales force channel is focused on acquiring and managing the supply side-the Pros. Angi Inc. has been optimizing this function for efficiency, prioritizing Pro quality and lifetime value over sheer volume of new additions.

The results of this optimization are clear in the Pro acquisition metrics for Q3 2025:

Pro Metric (Q3 2025)	Amount	Change vs. Q3 2024
Acquired Pros	22,000	Down year-over-year
Average Monthly Active Pros	118,000	Down 22% year-over-year
Acquired Pros (TTM)	97,000	Down 37% year-over-year

Despite acquiring fewer Pros-roughly half the sales headcount compared to a year ago-the value extracted per Pro has improved materially. For instance, in Q2 2025, the aggregate Pro lifetime value sold was only down 4% year-over-year, even with 39% fewer Pros acquired, showing that the quality of the acquired Pro cohort is much higher. Management expects a return to nominal active Pro growth by late 2026 or early 2027.

Angi Inc. (ANGI) - Canvas Business Model: Customer Segments

You're analyzing Angi Inc. (ANGI)'s customer base as of late 2025, which is heavily influenced by the strategic pivot to the homeowner choice model implemented in early 2025. This shift has fundamentally re-segmented who drives volume on the platform.

Homeowners/Consumers seeking local home repair, maintenance, and improvement services

This segment represents the demand side of the marketplace, seeking connections to professionals across a wide array of needs. Angi Inc. connects these consumers with quality professionals across more than 500 different categories, spanning everything from cleaning to full remodeling projects. The focus on customer experience has yielded measurable results for this group.

• Homeowner Net Promoter Score (NPS) is up nearly 10 points year-over-year as of Q3 2025.
• Total Service Requests for the trailing twelve months ended Q3 2025 were approximately 4,144 thousand.
• Proprietary Channel Service Requests (where the homeowner has more control) increased 11% year-over-year in Q3 2025.

Small to mid-sized Home Service Professionals (Pros) seeking qualified job leads

These are the core service providers, increasingly concentrated in Angi Inc.'s proprietary channels. The company is focused on improving the quality of leads and retention for this group, which is showing positive signs despite overall lead volume declines from the network shift. The new focus is on efficiency in Pro acquisition, targeting higher lifetime value.

Here's a look at the Professional segment metrics as of the trailing twelve months (TTM) ended Q3 2025, compared to earlier periods:

Metric	TTM Ended Q3 2025	TTM Ended Q2 2025	TTM Ended Q1 2025
Average Monthly Active Pros	131,000	139,000	147,000
Acquired Pros	97,000	109,000	124,000
Average Monthly Churn	5.9%	N/A	N/A

The quality of engagement is improving for the existing Pro base. The Pro self-reported win rate is up nearly 30% year-over-year as of Q3 2025 commentary. Also, the overall Pro churn improved by 7% year-over-year for the TTM ended Q3 2025.

Larger enterprise Pros interested in supplementary network leads

This segment is directly impacted by the strategic de-emphasis of the legacy Network Channels. These channels, which were predominantly auto-matched, saw massive declines following the January 2025 implementation of homeowner choice. The company is no longer viewing this channel as a strategic growth driver. The data clearly reflects a migration away from this segment's volume.

• Network Channel Leads declined 81% year-over-year in Q3 2025.
• Network Channels represented <10% of leads in Q3 2025, down from approximately 40% a year prior.

International consumers and Pros in select foreign markets

Angi Inc. maintains a presence outside the core domestic market, though this segment has also undergone strategic shifts toward higher-margin models. The focus here has been on regulatory compliance and margin improvement, even if it meant a short-term revenue contraction.

• International Revenue for Q3 2025 was reported at $32.4 million.
• The shift in the international model has already driven material profitability gains, with margins approaching 20% as of Q1 2025 commentary.

Finance: draft 13-week cash view by Friday.

Angi Inc. (ANGI) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that make up Angi Inc.'s spending as they push through this platform transformation. Honestly, cost management is the story of 2025, balancing heavy investment with efficiency gains.

High Consumer Marketing and Advertising Expenses

Consumer marketing spend remains a significant lever, though they are optimizing its deployment. In the second quarter of 2025, the consumer marketing expense rose to 35% of revenue (consolidated), up from 27% in the prior year period. This reflects a strategic choice to spend more on higher-quality leads. For the three months ended June 30, 2025, Selling and marketing expense totaled $139,453 thousand. Looking at the longer trend, for the nine months ended September 30, 2025, this category reached $387,308 thousand. Looking ahead, management expects to 'double-ish our TV spend' in 2026, based on the performance of their branded traffic.

Technology Development and Platform Maintenance (AI/LLM Investment)

The push for a modern, AI-first platform is a major cost center. Product development expense for the three months ended June 30, 2025, was $23,594 thousand. Over the nine months ending September 30, 2025, this expense was $71,430 thousand. This investment includes building in artificial intelligence capabilities to improve service request detail and match relevance, exemplified by the launch of the AI Helper in June 2025, which uses large language model (LLM) technology to guide homeowners. The company is targeting a single modern global and AI-first platform by 2027. Capitalization expectations are high; they project around $60 million in CapEx for 2025 and a similar amount for 2026, front-loaded into the first half of 2026 as they ramp up platform work.

Sales and Customer Care Salaries (Reduced Pro Acquisition Headcount)

Angi Inc. has aggressively managed its sales force to improve profitability per acquisition. They explicitly noted lower Pro acquisition expense in Q2 2025 due to a reduction in sales headcount. The CEO mentioned they have 'only about half the sales head count we had a year ago,' but the resulting lifetime margins per Pro are materially up. This focus on quality over sheer volume in Pro acquisition directly impacts the Selling and marketing expense line item.

General and Administrative Fixed Costs (Reduced Real Estate/Software Costs)

The company has achieved cost discipline through fixed expense reductions. General and administrative expense for Q2 2025 was $74,081 thousand, and for the nine months ended September 30, 2025, it was $200,810 thousand. These figures reflect lower fixed expense driven primarily by reduced real estate and software costs. Operating income in Q2 2025 rose 92% year-over-year to $17.7 million, aided in part by lower depreciation from fewer 2024 write-offs related to real estate and software.

Debt Servicing on $500 Million of 3.875% Senior Notes

Servicing the outstanding debt is a predictable, non-discretionary cost. Angi Group, LLC holds $500 million of 3.875% Senior Notes due August 15, 2028. The annual interest obligation is $19,375,000 (calculated as $500,000,000 multiplied by 0.03875). For the three months ended June 30, 2025, the reported Interest expense was $5,044 thousand.

Here's a quick look at the major operating cost components from the latest reported periods:

Cost Component	Period Ending June 30, 2025 (3 Months, in thousands)	Period Ending September 30, 2025 (9 Months, in thousands)
Selling and marketing expense	$139,453	$387,308
General and administrative expense	$74,081	$200,810
Product development expense	$23,594	$71,430
Interest Expense (Debt Servicing)	$5,044 (Q2 2025)	N/A (Reported quarterly)

The strategic cost management is evident in the shift of focus, which you can see in the following operational cost drivers:

• Consumer Marketing Expense as % of Revenue (Q2 2025): 35%
• Pro Acquisition Expense: Lower due to reduction in sales headcount
• Fixed Expense: Lower due to lower real estate and software costs
• AI/Platform Investment (CapEx Guidance 2026): Around $60 million

Finance: draft 13-week cash view by Friday.

Angi Inc. (ANGI) - Canvas Business Model: Revenue Streams

You're looking at how Angi Inc. (ANGI) converts platform activity into dollars, especially after the major shift away from the old Network Channel model. Honestly, the revenue story for Q3 2025 is all about the proprietary engine firing while the legacy channels sputter.

The top-line number for the third quarter ending September 30, 2025, was $265.6 million in total revenue. This figure reflects a 10% year-over-year decline, but the underlying channel performance tells a more nuanced story about where the money is actually coming from now.

The core of the monetization comes from charging professionals (Pros) for access to potential customers. This happens primarily through two mechanisms: paying for leads and paying for better visibility.

Lead Generation Fees: This is the engine room. Pros pay for qualified leads or matches generated through Angi's proprietary channels. The momentum here is clear: Proprietary Leads increased a strong 16% year-over-year in Q3 2025. This growth, coupled with Revenue per Lead increasing 11% year-over-year, shows the value of the leads Angi controls directly is rising. To be fair, the old way is fading fast; Network Channel Leads fell sharply by 81% year-over-year, now representing <10% of total leads.

The shift in volume is stark when you look at the total lead flow for the quarter:

Metric	Q3 2025 (in thousands)	Q3 2024 (in thousands)	Year-over-Year Growth
Proprietary Leads	4,946	4,269	16%
Network Channel Leads	495	2,597	-81%
Total Leads	5,441	6,867	-21%

This table shows you exactly where the revenue headwinds and tailwinds are coming from. The -21% drop in total leads is almost entirely due to the Network Channel collapse.

Other revenue components, though less detailed in the immediate reporting, include:

• Subscription/Membership Fees: Pros pay for enhanced platform access and visibility, which supports the higher Revenue per Lead seen in proprietary channels.
• Advertising Revenue: Display ads and sponsored placements on the platform contribute to the overall monetization mix.

The decline in Network Channel volume directly impacts what you might consider Services Revenue-revenue derived from jobs sourced through those less-controlled channels. Network Service Requests dropped 67% year-over-year in Q3 2025. This decline is a major headwind against total revenue growth.

Here's a quick look at how the total revenue broke down geographically for the quarter:

• Domestic Revenue: $233.2 million
• International Revenue: $32.4 million

The company is clearly leaning into its owned channels for monetization, evidenced by Proprietary Service Requests increasing 11% year-over-year in Q3 2025. Finance: draft 13-week cash view by Friday.