In this weak macro environment, Angi has a tailwind as service pros need them more to generate business. Service pros have increased capacity over the past 1.5 years and now need help filling it.

The rebrand is over. As Angi laps the rebrand they should see an acceleration in revenue growth. The rebrand is key because it puts all of their brands under one umbrella and simplifies their offerings for their customers.

Angi has reached peak investment and the focus is now on profitability. As Angi reinvests less it should return to EBITDA profitability which is what the market is demanding in this higher interest rate environment.