Anghami (ANGH) H1 2025 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2025, was $48.4M, up from $29.8M year-over-year, but the period ended with a net loss of $37.1M, compared to a $27.7M loss in 2024.

• OSN Streaming acquired a 55.45% stake via asset transfer, resulting in significant changes in ownership and capital structure.

• A one-for-ten reverse stock split was implemented effective August 1, 2025, with all share and per-share data retrospectively adjusted.

Financial highlights

• Gross loss widened to $15.1M from $8.5M year-over-year, as cost of revenue increased to $63.6M from $38.3M.

• Operating loss was $36.6M, up from $26.3M in the prior year.

• Basic and diluted loss per share was $(5.5), compared to $(5.7) in 2024, after adjusting for the reverse split.

• Cash and cash equivalents at period end were $18.0M, down from $26.9M at June 30, 2024.

Outlook and guidance

• Management expects to generate cash flows from operations but highlights material uncertainty regarding the ability to continue as a going concern without additional funding.

• OSN Streaming has provided a letter of support for financial backing over the next twelve months.