Anghami Inc. (ANGH) AI Stock Analysis

• Market Cap: $28.28M
• Dividend Yield: N/A
• Average Volume (3M): 9.66K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.62
• Revenue Growth: 88.72%
• EPS Growth: -85.54%
• Country: US
• Employees: 186
• Sector: Communication Services
• Sector Strength: 97
• Industry: Entertainment
• EPS (TTM): N/A
• Shares Outstanding: 6,686,470
• 10 Day Avg. Volume: 9,640
• 30 Day Avg. Volume: 9,663
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.79
• Price to Sales (P/S): 0.61
• P/FCF Ratio: -1.00
• Enterprise Value/Market Cap: 1.84
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -8.23
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $4.00 ▲(0.00% Upside)

The score is primarily constrained by weak financial performance—persistent losses, negative margins, and negative operating/free cash flow—despite improved equity. Technicals are supportive in the near term (price above key moving averages and positive MACD), but the elevated RSI indicates the move may be stretched. Valuation is also penalized because the company is loss-making and provides no dividend yield data.

Positive Factors

Revenue Growth

Strong revenue growth indicates increasing demand and market penetration, which can lead to improved market position and potential profitability over time.

Business Model

A diversified revenue model reduces dependency on a single income stream, enhancing resilience and adaptability in changing market conditions.

Balance Sheet Improvement

Improvement in equity suggests better financial health and efforts to stabilize, which can support future growth and investment opportunities.

Negative Factors

Negative Cash Flow

Persistent negative cash flow raises concerns about the company's ability to sustain operations without external funding, impacting long-term viability.

Profitability Challenges

Ongoing losses and negative margins highlight issues in cost management and profitability, which could hinder sustainable growth if not addressed.

High Debt Levels

A high debt-to-equity ratio poses risks to financial stability, potentially limiting the company's ability to invest in growth opportunities.

Anghami Inc. Business Overview & Revenue Model

Company Description

Anghami Inc. operates a digital music entertainment technology platform in the Middle East and North Africa. It offers a music application and platform that provides Arabic and international music to stream and download. The company was founded in 2012 and is based in Abu Dhabi, the United Arab Emirates.

How the Company Makes Money

Anghami generates revenue primarily through a subscription model, offering both free ad-supported and premium subscription tiers. The premium tier allows users to enjoy an ad-free experience, offline listening, and higher audio quality, contributing significantly to the company's earnings. Additionally, Anghami monetizes its platform through advertising revenue from the free tier users, where brands can reach a targeted audience. The company also engages in partnerships with record labels and artists, providing promotional opportunities that can lead to additional revenue streams through exclusive content and sponsorship deals.

Anghami Inc. Financial Statement Overview

Summary

Anghami Inc. shows potential for growth with increased revenue in 2024, but persistent losses, negative cash flows, and a leveraged balance sheet highlight significant operational challenges.

Income Statement

Anghami Inc. has shown fluctuating revenue with a significant increase in 2024 compared to 2023, indicating potential for growth. However, the company consistently operates at a loss, with negative net income and negative EBIT margins. The gross profit margin is negative, highlighting issues with cost management. Despite revenue growth, profitability remains a significant challenge.

Balance Sheet

The company's balance sheet shows a positive stockholders' equity in 2024, an improvement from previous negative equity positions, indicating efforts to stabilize financial health. However, the debt-to-equity ratio is still a concern given the high level of liabilities relative to equity, posing potential risk if not managed carefully.

Cash Flow

Anghami Inc. has negative operating and free cash flow, which raises concerns about its ability to generate sufficient cash from operations. The increase in financing cash flow in 2024 suggests reliance on external funding, which could strain financial flexibility in the long term.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	78.09M	41.38M	48.48M	35.50M	0.00
Gross Profit	0.00	-24.02M	10.29M	9.35M	9.04M	0.00
EBITDA	-6.32M	-55.44M	-11.52M	-55.98M	-14.53M	941.64K
Net Income	-6.32M	-63.55M	-15.81M	-61.02M	-17.79M	941.64K
Balance Sheet
Total Assets	101.11M	124.08M	19.46M	29.63M	13.03M	100.76M
Cash, Cash Equivalents and Short-Term Investments	38.41K	14.17M	6.24M	3.14M	1.08M	709.88K
Total Debt	1.00M	12.30M	170.90K	360.80K	18.78M	0.00
Total Liabilities	9.31M	65.43M	33.56M	36.07M	40.99M	10.43M
Stockholders Equity	91.80M	59.85M	-12.92M	-5.12M	-26.84M	90.33M
Cash Flow
Free Cash Flow	-777.32K	-47.41M	-3.98M	17.06K	-14.31M	-421.32K
Operating Cash Flow	-777.32K	-47.36M	-3.88M	17.06K	-14.14M	-421.32K
Investing Cash Flow	-1.00M	-1.04M	-1.31M	-12.58M	-1.49M	-100.00M
Financing Cash Flow	968.52K	56.31M	8.31M	15.04M	10.65M	101.13M

Anghami Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANGH, the sentiment is Positive. The current price of 4 is above the 20-day moving average (MA) of 2.95, above the 50-day MA of 2.90, and below the 200-day MA of 4.13, indicating a bullish trend. The MACD of 0.36 indicates Negative momentum. The RSI at 65.79 is Neutral, neither overbought nor oversold. The STOCH value of 67.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ANGH.

Anghami Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WMG	64 Neutral	$15.53B	44.71	61.97%	2.47%	4.37%	-16.22%
RSVR	61 Neutral	$482.73M	50.65	2.64%	―	11.17%	―
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
ANGH	46 Neutral	$28.28M	-0.39	―	―	88.72%	-85.54%
LVO	43 Neutral	$46.87M	-1.71	―	―	-32.17%	-135.06%

Anghami Inc. Corporate Events

Anghami Posts Strong Revenue Growth but Deeper Losses in First Half of 2025

On December 30, 2025, Anghami Inc. filed an unaudited condensed interim financial report for the six months ended June 30, 2025, showing that revenue rose to $48.4 million from $29.8 million a year earlier, but costs increased even more sharply, leading to a wider gross loss of $15.1 million versus $8.5 million in the prior-year period. Operating loss deepened to $36.6 million and total comprehensive loss expanded to $37.1 million compared with $27.7 million a year earlier, while accumulated losses grew to $239.6 million and equity attributable to shareholders fell to $22.8 million as of June 30, 2025, underscoring that the company’s strong top-line growth is being offset by rising content and operating costs, with implications for its profitability and capital structure going forward.

The most recent analyst rating on (ANGH) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Anghami Inc. stock, see the ANGH Stock Forecast page.

Anghami Completes OSN Convertible Note Conversion

On December 15, 2025, Anghami Inc. completed the conversion of its senior unsecured convertible notes held by OSN Streaming Limited. This conversion resulted in the issuance of 2,376,171 ordinary shares to OSN, effectively eliminating any outstanding notes. This strategic financial move could enhance Anghami’s equity structure and potentially strengthen its market position by reducing debt obligations.

The most recent analyst rating on (ANGH) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Anghami Inc. stock, see the ANGH Stock Forecast page.

Anghami Inc. Announces OSN Convertible Note Conversion

On October 14, 2025, OSN Streaming Limited notified Anghami Inc. of its intention to convert its senior unsecured convertible notes, totaling $55 million in principal and approximately $4.4 million in PIK interest, into ordinary shares. This conversion will result in the issuance of 2,376,171 shares to OSN, potentially impacting Anghami’s equity structure and market positioning.

The most recent analyst rating on (ANGH) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Anghami Inc. stock, see the ANGH Stock Forecast page.