Anghami Inc. (ANGH)
NASDAQ:ANGH
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Anghami Inc.
(NASDAQ:ANGH)
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Rating:41Neutral
Price Target:
$2.50
▼(-40.90% Downside)
Action:ReiteratedDate:01/22/26
The score is primarily constrained by weak financial performance: ongoing losses, negative margins, and negative operating/free cash flow with reliance on external financing. Technicals also weigh on the score as the stock trades below key moving averages with muted momentum. Valuation offers limited support because earnings are negative and there is no dividend yield data.
Positive Factors
Sustained Revenue Growth
Material top-line acceleration indicates product-market fit in the MENA streaming market and demonstrates the platform can scale users and monetization. Durable revenue growth supports investment in content and features, improving long-term competitive positioning if unit economics are later controlled.
Negative Factors
Persistent Losses and Negative Margins
Ongoing net losses and negative operating margins signal the company has not yet achieved sustainable profitability; this weakens internal cash generation, forces reliance on financing, and raises execution risk that revenue growth may not convert into long-term shareholder value without structural margin improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Material top-line acceleration indicates product-market fit in the MENA streaming market and demonstrates the platform can scale users and monetization. Durable revenue growth supports investment in content and features, improving long-term competitive positioning if unit economics are later controlled.
Read all positive factors
Anghami Inc. (ANGH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$28.83M
Dividend YieldN/A
Average Volume (3M)9.66K
Price to Earnings (P/E)―
Beta (1Y)0.73
Revenue Growth88.72%
EPS Growth-85.54%
CountryUS
Employees186
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)N/A
Shares Outstanding9,064,884
10 Day Avg. Volume9,640
30 Day Avg. Volume9,663
Financial Highlights & Ratios
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 Cap0.79
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-3.60
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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...
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, contributi...
Anghami Inc. Financial Statement Overview
Summary
Income Statement
40
Negative
Balance Sheet
45
Neutral
Cash Flow
35
Negative
| 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
Positive
4.23
Price Trends
2.83
Positive
2.87
Positive
3.35
Negative
Market Momentum
0.08
Negative
56.80
Neutral
78.46
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 4.23 is above the 20-day moving average (MA) of 2.88, above the 50-day MA of 2.83, and above the 200-day MA of 3.35, indicating a neutral trend. The MACD of 0.08 indicates Negative momentum. The RSI at 56.80 is Neutral, neither overbought nor oversold. The STOCH value of 78.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ANGH.
Anghami Inc. Risk Analysis
Anghami Inc. disclosed 72 risk factors in its most recent earnings report. Anghami Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
We are a "controlled company" within the meaning of the rules of The Nasdaq Stock Market LLC and, as a result, can rely on exemptions from certain corporate governance requirements that provide protection to shareholders of other companies. Q4, 2023
2.
We may not be able to successfully integrate the OSN+ business or to realize the anticipated benefits of the transaction. Q4, 2023
3.
We face significant competition from companies that operate in the steaming video-based industry and entertainment video business generally and we compete with these companies for users, content providers and advertisers. Q4, 2023
Anghami Inc. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $12.61B | 22.61 | 48.36% | 2.47% | 4.37% | -16.22% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
57 Neutral | $615.99M | 56.34 | 2.64% | ― | 11.17% | ― | |
52 Neutral | $66.28M | -3.34 | 128.06% | ― | -32.17% | -135.06% | |
41 Neutral | $28.83M | -0.29 | -270.84% | ― | 88.72% | -85.54% |
* Communication Services Sector Average
ANGH
Anghami Inc.
3.18
-4.02
-55.83%
LVO
LiveOne
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-30.47%
WMG
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RSVR
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9.39
2.06
28.10%
Anghami Inc. Corporate Events
Anghami Posts Strong Revenue Growth but Deeper Losses in First Half of 2025
Dec 30, 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, l...
Anghami Completes OSN Convertible Note Conversion
Dec 15, 2025
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 outstand...
Anghami Inc. Announces OSN Convertible Note Conversion
Oct 22, 2025
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 conve...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.