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ANGH

Anghami Inc.

ANGH

Anghami Inc. • NASDAQ
$2.87 ▲ 0.04% (+0.00)
Market Cap $19.20 M
52w High $9.40
52w Low $2.53
Dividend Yield 0%
P/E -0.26
Volume 4.24K
Outstanding Shares 6.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2021 $0 $213.687K ▼ $4.449M ▲ 0% $0.875 ▲ $4.449M ▲
Q2-2021 $0 $229.107K ▲ $-5.485M ▼ 0% $-1.075 ▼ $-5.485M ▼
Q1-2021 $0 $208.677K ▼ $2.514M ▲ 0% $0.5 ▲ $2.514M ▲
Q4-2020 $0 $259.851K ▼ $-7.794M ▼ 0% $-1.525 ▼ $-7.794M ▼
Q3-2020 $0 $314.875K $8.738M 0% $1.575 $8.738M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $14.174M ▼ $124.076M ▼ $65.435M ▲ $59.854M ▼
Q2-2024 $27.098M ▲ $143.125M ▲ $48.521M ▲ $95.767M ▲
Q4-2023 $6.24M ▲ $19.465M ▼ $33.563M ▲ $-12.923M ▼
Q3-2021 $38.408K ▼ $101.111M ▲ $9.307M ▼ $91.804M ▲
Q2-2021 $249.095K $100.314M $12.958M $87.356M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2021 $4.449M ▲ $-210.686K ▼ $-1M ▼ $1M ▲ $-210.687K ▼ $-210.69K ▼
Q4-2020 $-7.794M ▼ $-105.851K ▲ $0 ▲ $-31.476K ▼ $-137.329K ▼ $-105.85K ▲
Q3-2020 $8.738M $-315.374K $-100M $101.114M $798.658K $-315.37K

Five-Year Company Overview

Income Statement

Income Statement Anghami’s revenue has been small but growing, with a noticeable step up most recently. However, the company has not yet translated this into sustainable profits. Gross margins slipped back into the red, and operating and net losses widened again after a brief period of improvement. Earnings per share remain deeply negative, and the business is still clearly in a “build and invest” phase rather than a profit-generating one. The overall picture is one of growth efforts that are not yet covering the company’s cost base.

Balance Sheet

Balance Sheet The balance sheet looks thin and somewhat fragile. Total assets have increased recently, likely reflecting the OSN+ combination and a broader platform, and shareholder equity has finally turned positive again after several years of being negative. That said, cash levels remain modest relative to the company’s ongoing losses, and even though debt is not large, the past stretch of negative equity underlines a history of financial strain. The company appears to have more substance on its balance sheet now, but with a limited cushion if results disappoint.

Cash Flow

Cash Flow Anghami is still consuming cash rather than generating it. Operating cash flow turned clearly negative again in the latest period after hovering close to breakeven before, and free cash flow mirrors that pattern since there is little capital spending. This suggests that the core business is not yet self-funding and that the company continues to rely on external capital or one-off transactions to support its operations and growth plans. The key risk here is how long it can sustain this without a clear turn toward positive cash generation.

Competitive Edge

Competitive Edge Strategically, Anghami has carved out a strong local position in the MENA region. Its deep catalog of Arabic content, exclusive deals with top regional artists, and tight partnerships with telecom operators create meaningful barriers to entry for global rivals. The integration with OSN+ gives it a differentiated “all-in-one” entertainment offering across music, podcasts, and premium video, something international music-only platforms do not match in the region. Against this, it still faces powerful global competitors with far larger resources, and must execute well to keep users engaged, convert free users to paying subscribers, and defend its local edge as the market matures.

Innovation and R&D

Innovation and R&D The company has a clear innovation focus tailored to its markets. It built technology to work well in lower-bandwidth environments, strengthened its recommendation engine, and adopted advanced audio and video standards to improve user experience. The OSN+ merger, new ad-supported tier, richer podcast and video library, social features, and expansion into live events all show a willingness to experiment with formats and business models. The challenge is balancing this high level of product development and content investment with the need to control costs and eventually improve profitability.

Summary

Anghami is strategically interesting but financially fragile. On one hand, it has a strong regional brand, unique local content, valuable telecom and content partnerships, and a broad entertainment platform that now spans music, podcasts, and premium video. On the other hand, it remains loss-making, has a history of weak equity and modest cash buffers, and continues to burn cash. The future story hinges on successful integration of OSN+, better monetization of its user base, and a clear path from “growth at a cost” to a more self-sustaining, profitable business model. Uncertainty around execution and competition in digital entertainment remains a central risk to watch.