Anghami Inc. (ANGH)
NASDAQ:ANGH
Want to see ANGH full AI Analyst Report?
Top Page
Anghami Inc.
(NASDAQ:ANGH)
Select Model
Select Model
Rating:48Neutral
Price Target:
$3.50
▼(-17.26% Downside)
Action:ReiteratedDate:05/04/26
The score is held down primarily by weak financial performance—persistent unprofitability and ongoing cash burn—despite strong revenue growth and a materially de-risked balance sheet from sharply lower debt. Technical indicators are neutral-to-slightly positive, while valuation is constrained by loss-making results and no dividend support.
Positive Factors
Revenue growth & scale
Sustained top-line growth and a large registered and paying user base create durable recurring revenue potential. Scale across 3.5M+ subscribers and 130M users supports advertising inventory, bundling economics and network effects that improve lifetime value and unit economics over time.
Negative Factors
Negative gross profit
Negative gross profit shows core content and delivery costs currently exceed streaming revenues, indicating unit economics are not yet viable. Without sustained margin improvement or lower content fees, profitability will be structurally constrained despite revenue growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & scale
Sustained top-line growth and a large registered and paying user base create durable recurring revenue potential. Scale across 3.5M+ subscribers and 130M users supports advertising inventory, bundling economics and network effects that improve lifetime value and unit economics over time.
Read all positive factors
Anghami Inc. (ANGH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$33.81M
Dividend YieldN/A
Average Volume (3M)9.66K
Price to Earnings (P/E)―
Beta (1Y)0.44
Revenue Growth27.16%
EPS Growth-18.55%
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)0.94
Price to Sales (P/S)0.26
P/FCF Ratio-0.73
Enterprise Value/Market Cap0.08
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-0.44
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 primarily generates revenue from its music streaming business through (1) paid subscriptions and (2) advertising on its free, ad-supported tier. Subscription revenue is earned when users pay recurring fees for premium access (typically inc...
Anghami Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
44
Neutral
Cash Flow
20
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 99.30M | 78.09M | 41.38M | 48.48M | 35.50M |
| Gross Profit | 0.00 | -25.88M | -24.02M | 10.29M | 9.35M | 9.04M |
| EBITDA | -6.32M | -65.97M | -55.44M | -11.52M | -55.98M | -14.53M |
| Net Income | -6.32M | -89.47M | -63.55M | -15.81M | -61.02M | -17.79M |
Balance Sheet | ||||||
| Total Assets | 101.11M | 113.87M | 124.08M | 19.46M | 29.63M | 13.03M |
| Cash, Cash Equivalents and Short-Term Investments | 38.41K | 22.40M | 14.17M | 6.24M | 3.14M | 1.08M |
| Total Debt | 1.00M | 126.18K | 12.30M | 170.90K | 360.80K | 18.78M |
| Total Liabilities | 9.31M | 87.84M | 65.43M | 33.56M | 36.07M | 40.99M |
| Stockholders Equity | 91.80M | 27.34M | 59.85M | -12.92M | -5.12M | -26.84M |
Cash Flow | ||||||
| Free Cash Flow | -777.32K | -35.31M | -47.41M | -3.98M | 17.06K | -14.31M |
| Operating Cash Flow | -777.32K | -35.21M | -47.36M | -3.88M | 17.06K | -14.14M |
| Investing Cash Flow | -1.00M | -790.69K | -1.04M | -1.31M | -12.58M | -1.49M |
| Financing Cash Flow | 968.52K | 44.11M | 56.31M | 8.31M | 15.04M | 10.65M |
Anghami Inc. Technical Analysis
Positive
4.23
Price Trends
3.06
Positive
3.02
Positive
3.23
Positive
Market Momentum
0.24
Negative
59.94
Neutral
72.88
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 3.61, above the 50-day MA of 3.06, and above the 200-day MA of 3.23, indicating a bullish trend. The MACD of 0.24 indicates Negative momentum. The RSI at 59.94 is Neutral, neither overbought nor oversold. The STOCH value of 72.88 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 | $14.68B | 22.61 | 48.36% | 2.47% | 8.46% | -40.64% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
57 Neutral | $656.66M | 56.34 | 2.64% | ― | 8.41% | -17.11% | |
50 Neutral | $69.78M | -3.34 | 128.06% | ― | -38.49% | -61.52% | |
48 Neutral | $33.81M | -0.29 | -270.84% | ― | 27.16% | -18.55% |
* Communication Services Sector Average
ANGH
Anghami Inc.
3.73
-2.37
-38.85%
LVO
LiveOne
5.18
-1.76
-25.38%
WMG
Warner Music Group
28.11
-1.72
-5.76%
RSVR
Reservoir Media
10.01
2.85
39.80%
Anghami Inc. Corporate Events
Anghami Posts 27% FY2025 Revenue Growth as OSN+ Integration, Warner Bros. Discovery Investment Drive Scale
May 1, 2026
On April 30, 2026, Anghami reported consolidated results for the year ended December 31, 2025, posting a 27% rise in revenue to $99.3 million driven by subscriber growth across Anghami Plus and OSN+, and the first full-year consolidation of OSN+ f...
Anghami Secures $20 Million Unsecured Loan to Boost Liquidity and Working Capital
Apr 29, 2026
On April 29, 2026, Anghami Inc. entered into a senior unsecured loan agreement with UBC Ventures W.L.L., an affiliate of OSN Streaming Limited, giving the company access to up to $20 million in advances that cannot be reborrowed once repaid. The f...
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.