1017 ET - Investors approached Angi's 4Q earnings release looking for signs of upside after the company announced 350 layoffs in January without any associated revenue reduction, Benchmark's Daniel Kurnos writes. "What we got instead was, on the surface, difficult to comprehend: no growth until 2H26; half the $75-80 million RIF being reinvested, including as part of a tripling of brand spend; and somehow that all nets out to flattish y/y EBITDA," he writes. Growing leads and proprietary revenue suggest that an inflection point is at the end of this tunnel, but "the messaging reads that Angi is ramping both OpEx and CapEx ex-RIF at a time when revenue is yet to grow and with minimal near-term return," Kurnos writes. Shares slide 20%. (elias.schisgall@wsj.com)

(END) Dow Jones Newswires

February 11, 2026 10:17 ET (15:17 GMT)

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