angi-20200930
000170511012/312020Q3falseus-gaap:AccountingStandardsUpdate201613Member00017051102020-01-012020-09-30xbrli:shares0001705110us-gaap:CommonClassAMember2020-10-300001705110us-gaap:CommonClassBMember2020-10-300001705110us-gaap:CommonClassCMember2020-10-30iso4217:USD00017051102020-09-3000017051102019-12-31iso4217:USDxbrli:shares0001705110us-gaap:CommonClassAMember2020-09-300001705110us-gaap:CommonClassAMember2019-12-310001705110us-gaap:CommonClassBMember2020-09-300001705110us-gaap:CommonClassBMember2019-12-310001705110us-gaap:CommonClassCMember2020-09-300001705110us-gaap:CommonClassCMember2019-12-3100017051102020-07-012020-09-3000017051102019-07-012019-09-3000017051102019-01-012019-09-300001705110us-gaap:SellingAndMarketingExpenseMember2020-07-012020-09-300001705110us-gaap:SellingAndMarketingExpenseMember2019-07-012019-09-300001705110us-gaap:SellingAndMarketingExpenseMember2020-01-012020-09-300001705110us-gaap:SellingAndMarketingExpenseMember2019-01-012019-09-300001705110us-gaap:GeneralAndAdministrativeExpenseMember2020-07-012020-09-300001705110us-gaap:GeneralAndAdministrativeExpenseMember2019-07-012019-09-300001705110us-gaap:GeneralAndAdministrativeExpenseMember2020-01-012020-09-300001705110us-gaap:GeneralAndAdministrativeExpenseMember2019-01-012019-09-300001705110us-gaap:ResearchAndDevelopmentExpenseMember2020-07-012020-09-300001705110us-gaap:ResearchAndDevelopmentExpenseMember2019-07-012019-09-300001705110us-gaap:ResearchAndDevelopmentExpenseMember2020-01-012020-09-300001705110us-gaap:ResearchAndDevelopmentExpenseMember2019-01-012019-09-300001705110angi:RedeemableNoncontrollingInterestsMember2020-06-300001705110us-gaap:CommonClassAMemberus-gaap:CommonStockMember2020-06-300001705110us-gaap:CommonClassBMemberus-gaap:CommonStockMember2020-06-300001705110us-gaap:CommonClassCMemberus-gaap:CommonStockMember2020-06-300001705110us-gaap:AdditionalPaidInCapitalMember2020-06-300001705110us-gaap:RetainedEarningsMember2020-06-300001705110us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300001705110us-gaap:TreasuryStockMember2020-06-300001705110us-gaap:ParentMember2020-06-300001705110us-gaap:NoncontrollingInterestMember2020-06-3000017051102020-06-300001705110angi:RedeemableNoncontrollingInterestsMember2020-07-012020-09-300001705110us-gaap:RetainedEarningsMember2020-07-012020-09-300001705110us-gaap:ParentMember2020-07-012020-09-300001705110us-gaap:NoncontrollingInterestMember2020-07-012020-09-300001705110us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300001705110us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300001705110us-gaap:CommonClassAMemberus-gaap:CommonStockMember2020-07-012020-09-300001705110us-gaap:CommonClassBMemberus-gaap:CommonStockMember2020-07-012020-09-300001705110angi:RedeemableNoncontrollingInterestsMember2020-09-300001705110us-gaap:CommonClassAMemberus-gaap:CommonStockMember2020-09-300001705110us-gaap:CommonClassBMemberus-gaap:CommonStockMember2020-09-300001705110us-gaap:CommonClassCMemberus-gaap:CommonStockMember2020-09-300001705110us-gaap:AdditionalPaidInCapitalMember2020-09-300001705110us-gaap:RetainedEarningsMember2020-09-300001705110us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300001705110us-gaap:TreasuryStockMember2020-09-300001705110us-gaap:ParentMember2020-09-300001705110us-gaap:NoncontrollingInterestMember2020-09-300001705110angi:RedeemableNoncontrollingInterestsMember2019-06-300001705110us-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-06-300001705110us-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-06-300001705110us-gaap:CommonClassCMemberus-gaap:CommonStockMember2019-06-300001705110us-gaap:AdditionalPaidInCapitalMember2019-06-300001705110us-gaap:RetainedEarningsMember2019-06-300001705110us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-300001705110us-gaap:TreasuryStockMember2019-06-300001705110us-gaap:ParentMember2019-06-300001705110us-gaap:NoncontrollingInterestMember2019-06-3000017051102019-06-300001705110angi:RedeemableNoncontrollingInterestsMember2019-07-012019-09-300001705110us-gaap:RetainedEarningsMember2019-07-012019-09-300001705110us-gaap:ParentMember2019-07-012019-09-300001705110us-gaap:NoncontrollingInterestMember2019-07-012019-09-300001705110us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-07-012019-09-300001705110us-gaap:AdditionalPaidInCapitalMember2019-07-012019-09-300001705110us-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-07-012019-09-300001705110us-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-07-012019-09-300001705110us-gaap:TreasuryStockMember2019-07-012019-09-300001705110angi:RedeemableNoncontrollingInterestsMember2019-09-300001705110us-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-09-300001705110us-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-09-300001705110us-gaap:CommonClassCMemberus-gaap:CommonStockMember2019-09-300001705110us-gaap:AdditionalPaidInCapitalMember2019-09-300001705110us-gaap:RetainedEarningsMember2019-09-300001705110us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-09-300001705110us-gaap:TreasuryStockMember2019-09-300001705110us-gaap:ParentMember2019-09-300001705110us-gaap:NoncontrollingInterestMember2019-09-3000017051102019-09-300001705110us-gaap:CommonClassAMember2019-09-300001705110us-gaap:CommonClassBMember2019-09-300001705110us-gaap:CommonClassCMember2019-09-300001705110angi:RedeemableNoncontrollingInterestsMember2019-12-310001705110us-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-12-310001705110us-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-12-310001705110us-gaap:CommonClassCMemberus-gaap:CommonStockMember2019-12-310001705110us-gaap:AdditionalPaidInCapitalMember2019-12-310001705110us-gaap:RetainedEarningsMember2019-12-310001705110us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001705110us-gaap:TreasuryStockMember2019-12-310001705110us-gaap:ParentMember2019-12-310001705110us-gaap:NoncontrollingInterestMember2019-12-310001705110angi:RedeemableNoncontrollingInterestsMember2020-01-012020-09-300001705110us-gaap:RetainedEarningsMember2020-01-012020-09-300001705110us-gaap:ParentMember2020-01-012020-09-300001705110us-gaap:NoncontrollingInterestMember2020-01-012020-09-300001705110us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300001705110us-gaap:AdditionalPaidInCapitalMember2020-01-012020-09-300001705110us-gaap:CommonClassAMemberus-gaap:CommonStockMember2020-01-012020-09-300001705110us-gaap:CommonClassBMemberus-gaap:CommonStockMember2020-01-012020-09-300001705110us-gaap:TreasuryStockMember2020-01-012020-09-300001705110angi:RedeemableNoncontrollingInterestsMember2018-12-310001705110us-gaap:CommonClassAMemberus-gaap:CommonStockMember2018-12-310001705110us-gaap:CommonClassBMemberus-gaap:CommonStockMember2018-12-310001705110us-gaap:CommonClassCMemberus-gaap:CommonStockMember2018-12-310001705110us-gaap:AdditionalPaidInCapitalMember2018-12-310001705110us-gaap:RetainedEarningsMember2018-12-310001705110us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310001705110us-gaap:TreasuryStockMember2018-12-310001705110us-gaap:ParentMember2018-12-310001705110us-gaap:NoncontrollingInterestMember2018-12-3100017051102018-12-310001705110angi:RedeemableNoncontrollingInterestsMember2019-01-012019-09-300001705110us-gaap:RetainedEarningsMember2019-01-012019-09-300001705110us-gaap:ParentMember2019-01-012019-09-300001705110us-gaap:NoncontrollingInterestMember2019-01-012019-09-300001705110us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-09-300001705110us-gaap:AdditionalPaidInCapitalMember2019-01-012019-09-300001705110us-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-01-012019-09-300001705110us-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-01-012019-09-300001705110us-gaap:TreasuryStockMember2019-01-012019-09-30angi:service_categoryangi:service_professionalangi:projectangi:operating_segmentxbrli:pure0001705110angi:IACMemberus-gaap:CommonClassBMemberangi:ANGIHomeservicesMember2020-09-300001705110us-gaap:SalesRevenueNetMembercountry:USus-gaap:GeographicConcentrationRiskMember2020-01-012020-09-300001705110us-gaap:SalesRevenueNetMembercountry:USus-gaap:GeographicConcentrationRiskMember2020-07-012020-09-300001705110us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-07-012020-09-300001705110us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-01-012020-09-300001705110srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310001705110angi:FederalandStateTaxCreditsMember2020-09-300001705110us-gaap:USTreasurySecuritiesMember2020-09-300001705110us-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMember2020-09-300001705110us-gaap:FairValueInputsLevel2Memberus-gaap:MoneyMarketFundsMember2020-09-300001705110us-gaap:FairValueInputsLevel3Memberus-gaap:MoneyMarketFundsMember2020-09-300001705110us-gaap:MoneyMarketFundsMember2020-09-300001705110us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2020-09-300001705110us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasurySecuritiesMember2020-09-300001705110us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasurySecuritiesMember2020-09-300001705110us-gaap:USTreasurySecuritiesMember2020-09-300001705110us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel1Member2020-09-300001705110us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel2Member2020-09-300001705110us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel3Member2020-09-300001705110us-gaap:BankTimeDepositsMember2020-09-300001705110us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2020-09-300001705110us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasurySecuritiesMember2020-09-300001705110us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasurySecuritiesMember2020-09-300001705110us-gaap:FairValueInputsLevel1Member2020-09-300001705110us-gaap:FairValueInputsLevel2Member2020-09-300001705110us-gaap:FairValueInputsLevel3Member2020-09-300001705110us-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMember2019-12-310001705110us-gaap:FairValueInputsLevel2Memberus-gaap:MoneyMarketFundsMember2019-12-310001705110us-gaap:FairValueInputsLevel3Memberus-gaap:MoneyMarketFundsMember2019-12-310001705110us-gaap:MoneyMarketFundsMember2019-12-310001705110us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel1Member2019-12-310001705110us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel2Member2019-12-310001705110us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel3Member2019-12-310001705110us-gaap:BankTimeDepositsMember2019-12-310001705110us-gaap:FairValueInputsLevel1Member2019-12-310001705110us-gaap:FairValueInputsLevel2Member2019-12-310001705110us-gaap:FairValueInputsLevel3Member2019-12-310001705110us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300001705110us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300001705110us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001705110us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001705110angi:A3875SeniorNotesMemberus-gaap:SeniorNotesMember2020-08-200001705110angi:A3875SeniorNotesMemberus-gaap:SeniorNotesMember2020-09-300001705110angi:A3875SeniorNotesMemberus-gaap:SeniorNotesMember2019-12-310001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMember2020-09-300001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMember2019-12-310001705110us-gaap:DebtInstrumentRedemptionPeriodOneMemberangi:A3875SeniorNotesMemberus-gaap:SeniorNotesMember2020-08-202020-08-200001705110us-gaap:DebtInstrumentRedemptionPeriodTwoMemberangi:A3875SeniorNotesMemberus-gaap:SeniorNotesMember2020-08-202020-08-200001705110us-gaap:DebtInstrumentRedemptionPeriodThreeMemberangi:A3875SeniorNotesMemberus-gaap:SeniorNotesMember2020-08-202020-08-200001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMembersrt:ScenarioForecastMember2020-07-012021-12-310001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMembersrt:ScenarioForecastMember2022-01-012022-12-310001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMembersrt:ScenarioForecastMember2023-01-012023-11-050001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMembersrt:ScenarioForecastMember2023-11-050001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-09-300001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMemberus-gaap:LondonInterbankOfferedRateLIBORMember2019-01-012019-12-310001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMember2020-01-012020-09-300001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMember2019-01-012019-12-310001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMembersrt:MaximumMember2020-01-012020-09-300001705110angi:ANGITermLoandueNovember052023Memberus-gaap:LoansPayableMembersrt:MinimumMember2020-01-012020-09-300001705110us-gaap:RevolvingCreditFacilityMemberangi:ANGIHomeservicesCreditFacilityMember2018-11-050001705110us-gaap:RevolvingCreditFacilityMemberangi:ANGIHomeservicesCreditFacilityMember2020-09-300001705110us-gaap:RevolvingCreditFacilityMemberangi:ANGIHomeservicesCreditFacilityMember2019-12-310001705110us-gaap:RevolvingCreditFacilityMemberangi:ANGIHomeservicesCreditFacilityMember2020-01-012020-09-300001705110us-gaap:RevolvingCreditFacilityMemberangi:ANGIHomeservicesCreditFacilityMember2019-01-012019-12-310001705110us-gaap:AccumulatedTranslationAdjustmentMember2020-06-300001705110us-gaap:AccumulatedTranslationAdjustmentMember2019-06-300001705110us-gaap:AccumulatedTranslationAdjustmentMember2020-07-012020-09-300001705110us-gaap:AccumulatedTranslationAdjustmentMember2019-07-012019-09-300001705110us-gaap:AccumulatedTranslationAdjustmentMember2020-09-300001705110us-gaap:AccumulatedTranslationAdjustmentMember2019-09-300001705110us-gaap:AccumulatedTranslationAdjustmentMember2019-12-310001705110us-gaap:AccumulatedTranslationAdjustmentMember2018-12-310001705110us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-12-310001705110us-gaap:AccumulatedTranslationAdjustmentMember2020-01-012020-09-300001705110us-gaap:AccumulatedTranslationAdjustmentMember2019-01-012019-09-300001705110us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-01-012019-09-300001705110us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-09-300001705110angi:StockOptionsWarrantsandSubsidiaryDenominatedEquityExchangeofExchangeableNotesandVestingofRSUsMember2020-07-012020-09-300001705110angi:StockOptionsWarrantsandSubsidiaryDenominatedEquityExchangeofExchangeableNotesandVestingofRSUsMember2020-01-012020-09-300001705110angi:StockOptionsWarrantsandSubsidiaryDenominatedEquityExchangeofExchangeableNotesandVestingofRSUsMember2019-07-012019-09-300001705110angi:StockOptionsWarrantsandSubsidiaryDenominatedEquityExchangeofExchangeableNotesandVestingofRSUsMember2019-01-012019-09-300001705110us-gaap:PerformanceSharesMember2020-01-012020-09-300001705110us-gaap:PerformanceSharesMember2020-07-012020-09-300001705110us-gaap:PerformanceSharesMember2019-01-012019-09-300001705110us-gaap:PerformanceSharesMember2019-07-012019-09-300001705110srt:NorthAmericaMember2020-07-012020-09-300001705110srt:NorthAmericaMember2019-07-012019-09-300001705110srt:NorthAmericaMember2020-01-012020-09-300001705110srt:NorthAmericaMember2019-01-012019-09-300001705110srt:EuropeMember2020-07-012020-09-300001705110srt:EuropeMember2019-07-012019-09-300001705110srt:EuropeMember2020-01-012020-09-300001705110srt:EuropeMember2019-01-012019-09-300001705110srt:NorthAmericaMemberangi:MarketplaceConsumerConnectionMember2020-07-012020-09-300001705110srt:NorthAmericaMemberangi:MarketplaceConsumerConnectionMember2019-07-012019-09-300001705110srt:NorthAmericaMemberangi:MarketplaceConsumerConnectionMember2020-01-012020-09-300001705110srt:NorthAmericaMemberangi:MarketplaceConsumerConnectionMember2019-01-012019-09-300001705110angi:MarketplaceMembershipSubscriptionMembersrt:NorthAmericaMember2020-07-012020-09-300001705110angi:MarketplaceMembershipSubscriptionMembersrt:NorthAmericaMember2019-07-012019-09-300001705110angi:MarketplaceMembershipSubscriptionMembersrt:NorthAmericaMember2020-01-012020-09-300001705110angi:MarketplaceMembershipSubscriptionMembersrt:NorthAmericaMember2019-01-012019-09-300001705110srt:NorthAmericaMemberangi:MarketplaceServiceOtherMember2020-07-012020-09-300001705110srt:NorthAmericaMemberangi:MarketplaceServiceOtherMember2019-07-012019-09-300001705110srt:NorthAmericaMemberangi:MarketplaceServiceOtherMember2020-01-012020-09-300001705110srt:NorthAmericaMemberangi:MarketplaceServiceOtherMember2019-01-012019-09-300001705110angi:MarketplaceMembersrt:NorthAmericaMember2020-07-012020-09-300001705110angi:MarketplaceMembersrt:NorthAmericaMember2019-07-012019-09-300001705110angi:MarketplaceMembersrt:NorthAmericaMember2020-01-012020-09-300001705110angi:MarketplaceMembersrt:NorthAmericaMember2019-01-012019-09-300001705110srt:NorthAmericaMemberangi:AdvertisingandServiceOtherMember2020-07-012020-09-300001705110srt:NorthAmericaMemberangi:AdvertisingandServiceOtherMember2019-07-012019-09-300001705110srt:NorthAmericaMemberangi:AdvertisingandServiceOtherMember2020-01-012020-09-300001705110srt:NorthAmericaMemberangi:AdvertisingandServiceOtherMember2019-01-012019-09-300001705110angi:ConsumerConnectionMembersrt:EuropeMember2020-07-012020-09-300001705110angi:ConsumerConnectionMembersrt:EuropeMember2019-07-012019-09-300001705110angi:ConsumerConnectionMembersrt:EuropeMember2020-01-012020-09-300001705110angi:ConsumerConnectionMembersrt:EuropeMember2019-01-012019-09-300001705110srt:EuropeMemberangi:MembershipSubscriptionMember2020-07-012020-09-300001705110srt:EuropeMemberangi:MembershipSubscriptionMember2019-07-012019-09-300001705110srt:EuropeMemberangi:MembershipSubscriptionMember2020-01-012020-09-300001705110srt:EuropeMemberangi:MembershipSubscriptionMember2019-01-012019-09-300001705110angi:AdvertisingandServiceOtherMembersrt:EuropeMember2020-07-012020-09-300001705110angi:AdvertisingandServiceOtherMembersrt:EuropeMember2019-07-012019-09-300001705110angi:AdvertisingandServiceOtherMembersrt:EuropeMember2020-01-012020-09-300001705110angi:AdvertisingandServiceOtherMembersrt:EuropeMember2019-01-012019-09-300001705110country:US2020-07-012020-09-300001705110country:US2019-07-012019-09-300001705110country:US2020-01-012020-09-300001705110country:US2019-01-012019-09-300001705110us-gaap:NonUsMember2020-07-012020-09-300001705110us-gaap:NonUsMember2019-07-012019-09-300001705110us-gaap:NonUsMember2020-01-012020-09-300001705110us-gaap:NonUsMember2019-01-012019-09-300001705110country:US2020-09-300001705110country:US2019-12-310001705110us-gaap:NonUsMember2020-09-300001705110us-gaap:NonUsMember2019-12-31angi:lawsuit0001705110us-gaap:MajorityShareholderMemberus-gaap:ServiceAgreementsMember2020-07-012020-09-300001705110us-gaap:MajorityShareholderMemberus-gaap:ServiceAgreementsMember2020-01-012020-09-300001705110us-gaap:MajorityShareholderMemberus-gaap:ServiceAgreementsMember2019-07-012019-09-300001705110us-gaap:MajorityShareholderMemberus-gaap:ServiceAgreementsMember2019-01-012019-09-300001705110us-gaap:MajorityShareholderMemberus-gaap:ServiceAgreementsMember2020-09-300001705110us-gaap:MajorityShareholderMemberus-gaap:ServiceAgreementsMember2019-12-310001705110us-gaap:MajorityShareholderMemberangi:SubleaseAgreementMember2020-07-012020-09-300001705110us-gaap:MajorityShareholderMemberangi:SubleaseAgreementMember2020-01-012020-09-300001705110us-gaap:MajorityShareholderMemberangi:SubleaseAgreementMember2019-07-012019-09-300001705110us-gaap:MajorityShareholderMemberangi:SubleaseAgreementMember2019-01-012019-09-300001705110us-gaap:MajorityShareholderMemberangi:SubleaseAgreementMember2019-09-300001705110us-gaap:MajorityShareholderMemberangi:SubleaseAgreementMember2020-09-300001705110us-gaap:MajorityShareholderMemberangi:TaxSharingAgreementMember2020-09-300001705110us-gaap:MajorityShareholderMemberangi:TaxSharingAgreementMember2019-12-310001705110us-gaap:MajorityShareholderMemberangi:TaxSharingAgreementMember2020-01-012020-09-300001705110us-gaap:MajorityShareholderMemberangi:TaxSharingAgreementMember2020-07-012020-09-300001705110us-gaap:MajorityShareholderMemberangi:TaxSharingAgreementMember2019-01-012019-03-310001705110us-gaap:MajorityShareholderMemberangi:EmployeeMattersAgreementMember2020-07-012020-09-300001705110us-gaap:MajorityShareholderMemberangi:EmployeeMattersAgreementMember2020-01-012020-09-300001705110us-gaap:MajorityShareholderMemberangi:EmployeeMattersAgreementMember2019-07-012019-09-300001705110us-gaap:MajorityShareholderMemberangi:EmployeeMattersAgreementMember2019-01-012019-09-30
Table of Contents
As filed with the Securities and Exchange Commission on November 6, 2020
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended September 30, 2020
Or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from__________to__________                            
Commission File No. 001-38220
https://cdn.kscope.io/eb356f014954b5c512ca010e0385f86f-angi-20200930_g1.jpg
ANGI HOMESERVICES INC.
(Exact name of registrant as specified in its charter)
Delaware82-1204801
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
3601 Walnut Street, Denver, CO 80205
(Address of registrant's principal executive offices)
(303963-7200
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of exchange on which registered
Class A Common Stock, par value $0.001ANGIThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes     No 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes     No 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filerNon-accelerated filerSmaller reporting companyEmerging growth company
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
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes     No 

As of October 30, 2020, the following shares of the registrant's common stock were outstanding:
Class A Common Stock77,938,213 
Class B Common Stock421,859,085 
Class C Common Stock 
Total outstanding Common Stock499,797,298 




TABLE OF CONTENTS
  Page
Number



2

Table of Contents
PART I
FINANCIAL INFORMATION
Item 1.    Consolidated Financial Statements
ANGI HOMESERVICES INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(Unaudited)
September 30, 2020December 31, 2019
(In thousands, except par value amounts)
ASSETS
Cash and cash equivalents $855,044 $390,565 
Marketable debt securities49,992  
Accounts receivable, net of allowance and reserves of $29,787 and $20,293, respectively
51,721 41,669 
Other current assets 69,500 67,759 
Total current assets 1,026,257 499,993 
Capitalized software, leasehold improvements and equipment, net of accumulated depreciation and amortization104,323 103,361 
Goodwill884,696 883,960 
Intangible assets, net of accumulated amortization212,927 251,725 
Other non-current assets 186,398 182,572 
TOTAL ASSETS $2,414,601 $1,921,611 
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES:
Current portion of long-term debt$13,750 $13,750 
Accounts payable42,973 25,987 
Deferred revenue 58,169 58,220 
Accrued expenses and other current liabilities 153,566 116,997 
Total current liabilities 268,458 214,954 
Long-term debt, net 715,408 231,946 
Deferred income taxes 2,088 3,441 
Other long-term liabilities119,112 121,055 
Redeemable noncontrolling interests 25,774 26,663 
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Class A common stock, $0.001 par value; authorized 2,000,000 shares; issued 92,660 and 87,007 shares, respectively, and outstanding77,537 and 79,681, respectively
93 87 
Class B common stock, $0.001 par value; authorized 1,500,000 shares; 421,859 and 421,570 shares issued and outstanding
422 422 
Class C common stock, $0.001 par value; authorized 1,500,000 shares; no shares issued and outstanding
  
Additional paid-in capital1,362,977 1,357,075 
Retained earnings24,213 16,032 
Accumulated other comprehensive loss(985)(1,379)
Treasury stock, 15,123 and 7,326 shares, respectively
(112,808)(57,949)
Total ANGI Homeservices Inc. shareholders' equity1,273,912 1,314,288 
Noncontrolling interests 9,849 9,264 
Total shareholders' equity1,283,761 1,323,552 
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $2,414,601 $1,921,611 
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
3

Table of Contents
ANGI HOMESERVICES INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
(In thousands, except per share data)
Revenue $389,913 $357,358 $1,108,624 $1,004,697 
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below) 48,253 13,312 122,524 34,045 
Selling and marketing expense 210,171 195,542 590,114 567,011 
General and administrative expense 90,122 82,344 270,129 254,786 
Product development expense 17,577 16,021 50,068 46,907 
Depreciation 13,921 11,244 38,614 27,039 
Amortization of intangibles 12,888 14,169 38,846 42,421 
Total operating costs and expenses 392,932 332,632 1,110,295 972,209 
Operating (loss) income(3,019)24,726 (1,671)32,488 
Interest expense(3,699)(3,007)(7,593)(8,964)
Other income, net 223 1,505 856 4,823 
(Loss) earnings before income taxes (6,495)23,224 (8,408)28,347 
Income tax benefit (provision) 11,698 (4,900)17,638 7,062 
Net earnings5,203 18,324 9,230 35,409 
Net earnings attributable to noncontrolling interests (731)(325)(1,049)(473)
Net earnings attributable to ANGI Homeservices Inc. shareholders$4,472 $17,999 $8,181 $34,936 
Earnings per share information attributable to ANGI Homeservices Inc. shareholders:
Basic earnings per share$0.01 $0.04 $0.02 $0.07 
Diluted earnings per share$0.01 $0.04 $0.02 $0.07 
Stock-based compensation expense by function:
Selling and marketing expense $2,346 $796 $4,069 $2,801 
General and administrative expense 10,866 6,375 46,977 37,124 
Product development expense 1,485 1,613 3,985 5,661 
Total stock-based compensation expense $14,697 $8,784 $55,031 $45,586 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

4

Table of Contents
ANGI HOMESERVICES INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS
(Unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
(In thousands)
Net earnings $5,203 $18,324 $9,230 $35,409 
Other comprehensive income (loss), net of income taxes:
Change in foreign currency translation adjustment 3,053 (3,071)971 (2,880)
Change in unrealized gains and losses on available-for-sale debt securities   (3)
Total other comprehensive income (loss), net of income taxes3,053 (3,071)971 (2,883)
Comprehensive income, net of income taxes8,256 15,253 10,201 32,526 
Components of comprehensive (income) loss attributable to noncontrolling interests:
Net earnings attributable to noncontrolling interests(731)(325)(1,049)(473)
Change in foreign currency translation adjustment attributable to noncontrolling interests (1,298)390 (577)581 
Comprehensive (income) loss attributable to noncontrolling interests (2,029)65 (1,626)108 
Comprehensive income attributable to ANGI Homeservices Inc. shareholders$6,227 $15,318 $8,575 $32,634 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

5

Table of Contents
ANGI HOMESERVICES INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY
Three Months Ended September 30, 2020 and 2019
(Unaudited)
ANGI Homeservices Inc. Shareholders' Equity
Class A
Common Stock
$0.001
Par Value
Class B
Common Stock
$0.001
Par Value
Class C
Common Stock
$0.001
Par Value
Total
ANGI Homeservices Inc. Shareholders' Equity
Accumulated
Other
Comprehensive (Loss) Income
Total
Shareholders'
Equity
Redeemable
Noncontrolling
Interests
Additional Paid-in CapitalRetained Earnings (Accumulated Deficit) Treasury
Stock
Noncontrolling
Interests
$Shares$Shares$Shares
(In thousands)
Balance as of June 30, 2020$25,093 $89 89,076 $422 421,757 $  $1,387,618 $19,741 $(2,740)$(112,808)$1,292,322 $9,604 $1,301,926 
Net earnings438 — — — — — — — 4,472 — — 4,472 293 4,765 
Other comprehensive income, net of income taxes920 — — — — — — — — 1,755 — 1,755 378 2,133 
Stock-based compensation expense — — — — — — 13,846 — — — 13,846 — 13,846 
Issuance of common stock pursuant to stock-based awards, net of withholding taxes— 4 3,584 — — — — (37,842)— — — (37,838)— (37,838)
Issuance of common stock to IAC pursuant to the employee matters agreement— — — — 102 — — (632)— — — (632)— (632)
Adjustment of redeemable noncontrolling interests to fair value(677)— — — — — — 677 — — — 677 — 677 
Purchase of noncontrolling interests— — — — — — — — — — — (1,115)(1,115)
Other— — — — — — — (690)— — — (690)689 (1)
Balance as of September 30, 2020$25,774 $93 92,660 $422 421,859 $  $1,362,977 $24,213 $(985)$(112,808)$1,273,912 $9,849 $1,283,761 
Balance as of June 30, 2019$23,421 $86 85,803 $421 421,453 $  $1,338,280 $(1,860)$(1,482)$ $1,335,445 $9,101 $1,344,546 
Net earnings233 — — — — — — — 17,999 — — 17,999 92 18,091 
Other comprehensive loss(365)— — — — — — — — (2,681)— (2,681)(25)(2,706)
Stock-based compensation expense36 — — — — — — 8,748 — — — 8,748 — 8,748 
Issuance of common stock pursuant to stock-based awards, net of withholding taxes—  272 — — — — (2,357)— — — (2,357)— (2,357)
Issuance of common stock to IAC pursuant to the employee matters agreement— — — 1 117 — — (971)— — — (970)— (970)
Purchase of treasury stock— — — — — — — — — — (34,157)(34,157)— (34,157)
Purchase of redeemable noncontrolling interests(71)— — — — — — — — — — — — — 
Adjustment of redeemable noncontrolling interests to fair value(1,255)— — — — — — 1,255 — — — 1,255 — 1,255 
Other— — — — — — — 1 — — — 1 — 1 
Balance as of September 30, 2019$21,999 $86 86,075 $422 421,570 $  $1,344,956 $16,139 $(4,163)$(34,157)$1,323,283 $9,168 $1,332,451 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

6

Table of Contents
ANGI HOMESERVICES INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY
Nine Months Ended September 30, 2020 and 2019
(Unaudited)
ANGI Homeservices Inc. Shareholders' Equity
Class A
Common Stock
$0.001
Par Value
Class B
Common Stock
$0.001
Par Value
Class C
Common Stock
$0.001
Par Value
Total
ANGI Homeservices Inc. Shareholders' Equity
Accumulated
Other
Comprehensive
(Loss) Income
Total
Shareholders'
Equity
Redeemable
Noncontrolling
Interests
Additional Paid-in CapitalRetained Earnings (Accumulated Deficit)Treasury
Stock
Noncontrolling
Interests
$Shares$Shares$Shares
(In thousands)
Balance as of December 31, 2019$26,663 $87 87,007 $422 421,570 $  $1,357,075 $16,032 $(1,379)$(57,949)$1,314,288 $9,264 $1,323,552 
Net earnings383 — — — — — — — 8,181 — — 8,181 666 8,847 
Other comprehensive income, net of income taxes233 — — — — — — — — 394 — 394 344 738 
Stock-based compensation expense
15 — — — — — — 54,664 — — — 54,664 — 54,664 
Issuance of common stock pursuant to stock-based awards, net of withholding taxes— 6 5,653 — — — — (48,615)— — — (48,609)— (48,609)
Issuance of common stock to IAC pursuant to the employee matters agreement— — — — 289 — — (1,423)— — — (1,423)— (1,423)
Purchase of treasury stock— — — — — — — — — — (54,859)(54,859)— (54,859)
Purchase of redeemable noncontrolling interests(3,165)— — — — — — — — — — — — — 
Adjustment of redeemable noncontrolling interests to fair value1,645 — — — — — — (1,645)— — — (1,645)— (1,645)
Purchase of noncontrolling interests— — — — — — — — — — — — (1,115)(1,115)
Adjustment pursuant to the tax sharing agreement— — — — — — — 3,613 — — — 3,613 — 3,613 
Other— — — — — — — (692)— — — (692)690 (2)
Balance as September 30, 2020$25,774 $93 92,660 $422 421,859 $  $1,362,977 $24,213 $(985)$(112,808)$1,273,912 $9,849 $1,283,761 
Balance as of December 31, 2018$18,163 $81 80,515 $421 421,118 $  $1,333,097 $(18,797)$(1,861)$ $1,312,941 $9,046 $1,321,987 
Net earnings284 — — — — — — — 34,936 — — 34,936 189 35,125 
Other comprehensive loss
(514)— — — — — — — — (2,302)— (2,302)(67)(2,369)
Stock-based compensation expense113 — — — — — — 45,473 — — — 45,473 — 45,473 
Issuance of common stock pursuant to stock-based awards, net of withholding taxes— 5 5,560 — — — — (27,805)— — — (27,800)— (27,800)
Issuance of common stock to IAC pursuant to the employee matters agreement— — — 1 452 — — (1,766)— — — (1,765)— (1,765)
Purchase of treasury stock— — — — — — — — — — (34,157)(34,157)— (34,157)
Purchase of redeemable noncontrolling interests(71)— — — — — — — — — — — — — 
Adjustment of redeemable noncontrolling interests to fair value4,024 — — — — — — (4,024)— — — (4,024)— (4,024)
Other— — — — — — — (19)— — — (19)— (19)
Balance as of September 30, 2019$21,999 $86 86,075 $422 421,570 $  $1,344,956 $16,139 $(4,163)$(34,157)$1,323,283 $9,168 $1,332,451 
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
7

Table of Contents
ANGI HOMESERVICES INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)
Nine Months Ended September 30,
20202019
(In thousands)
Cash flows from operating activities:
Net earnings $9,230 $35,409 
Adjustments to reconcile net earnings to net cash provided by operating activities:
Stock-based compensation expense 55,031 45,586 
Amortization of intangibles 38,846 42,421 
Provision for credit losses60,090 49,294 
Depreciation 38,614 27,039 
Deferred income taxes (18,081)(8,294)
Other adjustments, net 8,694 6,371 
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable (70,705)(66,596)
Other assets 5,200 15,701 
Accounts payable and other liabilities 46,941 30,609 
Income taxes payable and receivable(570)1,628 
Deferred revenue (105)2,916 
Net cash provided by operating activities 173,185 182,084 
Cash flows from investing activities:
Acquisition, net of cash acquired  (20,341)
Capital expenditures (37,637)(54,801)
Purchases of marketable debt securities(49,987) 
Proceeds from maturities of marketable debt securities— 25,000 
Net proceeds from the sale of a business730 23,615 
Other, net— (103)
Net cash used in investing activities (86,894)(26,630)
Cash flows from financing activities:
Proceeds from the issuance of Senior Notes500,000  
Principal payments on Term Loan(10,313)(10,313)
Principal payments on related-party debt (1,008)
Debt issuance costs(5,635) 
Purchase of treasury stock(54,400)(33,979)
Proceeds from the exercise of stock options 573 
Withholding taxes paid on behalf of employees on net settled stock-based awards(49,993)(30,039)
Distribution from (to) IAC pursuant to the tax sharing agreement3,071 (11,355)
Purchase of noncontrolling interests (4,280)(71)
Other, net (3,732)
Net cash provided by (used in) financing activities 378,450 (89,924)
Total cash provided