Angi's Sep 2022 preliminary data: total revenue growth slows to 6%; Services growth collapses to 5% on Hurricane Ian

Angi Inc.

Total revenue growth slowed to 6% in Sep from 27% in Jun; Services growth dropped to 5% from triple digits.
Angi Service Requests fell 16% YoY in Sep; Monetized Transactions -15%; Transacting SPs -10%.
Hurricane Ian impacted Services business in late Sep, contributing to sharp deceleration.
European revenue declined 2% in Sep; Ads and Leads revenue growth held steady at 6%.
Data is preliminary and subject to change upon Q3 close; final results expected in Nov.

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