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ANGHW

Anghami Inc.

ANGHW

Anghami Inc. • NASDAQ
$0.01 ▲ 10.45% (+0.00)
Market Cap $17.49 M
52w High $0.02
52w Low $0.01
Dividend Yield 0%
P/E 0
Volume 500
Outstanding Shares 1.18B

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 base is still relatively small but has been moving in the right direction, helped recently by faster growth in subscriptions and better pricing and content mix. The company is still loss‑making, with operating and net losses each year and earnings per share firmly in negative territory, so profitability remains a work in progress rather than a near‑term reality. A clear positive is that gross margins have improved meaningfully in the latest reported period, showing that recent strategic moves are starting to make the core streaming business more efficient, even if overhead and growth spending still keep the bottom line in the red.

Balance Sheet

Balance Sheet The balance sheet is light and reflects a young, high‑growth digital platform rather than an asset‑heavy business. Cash levels are modest relative to the scale of the ambition, and the company has gone through a period of weak or even negative equity, which signals accumulated losses and reliance on external funding. The OSN+ transaction and related investment help strengthen the capital base and strategic resources, but the overall picture is still one of a company that needs careful capital management and successful integration to avoid future balance‑sheet strain.

Cash Flow

Cash Flow Cash flow from operations has generally been negative, indicating that the business is not yet self‑funding and still depends on outside capital to support growth and cover losses. Free cash flow has tracked operating cash flow closely because capital spending has been relatively low, which limits infrastructure risk but also shows how little room there is for missteps. The key question going forward is whether the combined Anghami–OSN+ platform can convert revenue growth and better margins into more stable, eventually positive operating cash flow before investor support or market conditions tighten.

Competitive Edge

Competitive Edge Anghami enjoys a strong niche as the leading locally focused music and entertainment platform in the MENA region, with a very deep Arabic content catalog, strong brand recognition, and long‑standing relationships with local labels, artists, and telecom operators. The merger with OSN+ significantly upgrades its scale and turns it into a broader entertainment hub for both music and video, giving it more ways to engage users and cross‑sell services. At the same time, it faces intense competition from global streaming giants with deeper pockets and more mature technology, so maintaining its edge will depend on superior localization, content relevance, and execution of the integration strategy.

Innovation and R&D

Innovation and R&D Anghami has been consistently innovative, using its Abu Dhabi R&D base to build features in‑house such as social “Live Radio,” AI‑powered recommendations and search, and a refreshed, more personalized app experience. It has pushed beyond pure streaming with concepts like Anghami Lab, which blends physical venues, live performance, and digital distribution, and with the acquisition of Spotlight Events to weave live concerts and experiences directly into the platform. The OSN+ merger and the recent rebranding signal a continued willingness to invest in product development, data‑driven personalization, and original content, but they also raise execution risk: integrating multiple offerings smoothly while controlling costs will be critical.

Summary

Anghami is evolving from a regional music streamer into a broader MENA entertainment platform that combines music, video, and live experiences, helped by its merger with OSN+ and acquisition of Spotlight Events. Its strengths lie in deep localization, strong Arabic content, established partnerships, and a history of product innovation tailored to regional tastes. However, the company remains structurally loss‑making, has a relatively thin balance sheet, and burns cash, which keeps financial risk elevated until the combined business proves it can generate sustainable profits and healthier cash flow. The next phase will hinge on how well Anghami integrates OSN+, monetizes its larger user base, and continues to differentiate itself from global competitors without overextending its finances.