- A day after stating it has come to terms with activist TCS Capital, Angie's List (NASDAQ:ANGI +1.4%) announces (in tandem with its investor day) it expects 2016 revenue of $345M-$355M, below a $361.6M consensus and up slightly from 2015's $344.1M.
- Adjusted EBITDA is expected to rise to $31M-$35M from 2015's $28M, and free cash flow is expected to be close to breakeven.
- Meanwhile, in a move meant to help the better compete against Yelp (YELP -1.2%) and other free local reviews providers, Angie's says it plans to remove its ratings/reviews paywall, and introduce "new freemium and premium tiered offerings with additional high value services."
- Both features are expected to begin arriving in Q2. Angie's claims early test results "have shown significant increases in consumer engagement and service provider value, including increases in consumer registrations, total profile views, reviews and originations."
- The company is aiming for 2020 revenue of $750M and adjusted EBITDA of $150M. It plans to focus ion strengthening/repositioning its core business in 2016, better leveraging its home service platform (including via value-added services) in 2017-2018, and expanding to "adjacencies" in 2019-2020.