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Angie's List +6.5% pre-market; Q4 2016 EPS over, revenue below projections

Feb. 15, 2017 8:40 AM ETAngi Inc. (ANGI) StockBy: Eric McCaffrey, SA News Editor
  • Q4 2016 results – revenue $76.67M (-11.1% Y/Y, $1.34M below estimates), EPS $0.15 ($0.07 above estimates), net income $8.9M, adjusted EBITDA $16.9M
  • Highlights – gross member additions 0.8M (total count 5.1M at year end), net participating service provider additions 1,242 for FY 2016 (total 55,644)
  • Angie's List president and CEO Scott Durchslag: "2016 was a transformative year for Angie’s List. We achieved a number of important objectives, including removing the reviews paywall, introducing freemium tiers, migrating our technology platform, strengthening our marketing and sales processes and delivering new products to our customers. . . . While this is good progress, we continue to expect it will take time before we meaningfully improve trends in our financial results. In 2017, we have three priorities: 1) Build products that increase member engagement, 2) Strengthen the value proposition to our service providers, and 3) Continue to improve our cost structure. I am excited about the opportunity ahead of us and look forward to building on the strong foundation that we established last year."
  • Pre-market – (NASDAQ:ANGI) $6.72
  • Conference call
  • Press release
  • Presentation

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