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Anghami Inc.
(NASDAQ:ANGH)
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Rating:42Neutral
Price Target:
$3.00
▼(-11.24% Downside)
Action:Reiterated
Date:10/21/26
The score is primarily constrained by weak financial performance—structural unprofitability (negative gross profit), widening losses, and ongoing cash burn—despite strong revenue growth and a meaningful reduction in debt. Technicals add further pressure with price below key moving averages and a negative MACD, while valuation support is limited due to negative earnings and no dividend yield.
Positive Factors
Revenue Growth
Strong revenue growth indicates expanding scale and improved market reach for Anghami’s streaming and audio platform. If sustained, this momentum can broaden the user and monetization base, support operating leverage, and create a stronger foundation for improving financial performance over the next several quarters.
Negative Factors
Negative Gross Profit
Negative gross profit means the core revenue base is not covering direct costs, so growth is currently failing to translate into sustainable unit-level economics. Unless pricing, monetization or content-related costs improve, additional scale may continue to generate revenue without creating durable operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Strong revenue growth indicates expanding scale and improved market reach for Anghami’s streaming and audio platform. If sustained, this momentum can broaden the user and monetization base, support operating leverage, and create a stronger foundation for improving financial performance over the next several quarters.
Read all positive factors
Anghami Inc. (ANGH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$30.37M
Dividend YieldN/A
Average Volume (3M)9.78K
Price to Earnings (P/E)―
Beta (1Y)0.95
Revenue Growth27.16%
EPS Growth-18.55%
CountryUS
Employees191
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)-1.22
Shares Outstanding9,064,808
10 Day Avg. Volume11,894
30 Day Avg. Volume9,781
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-0.37
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. runs a digital music entertainment platform, primarily serving audiences across the Middle East and North Africa. Its service provides users with access to both Arabic and international music, available for streaming and download thro...
How the Company Makes Money
Anghami generates revenue primarily through a mix of subscription and advertising monetization on its streaming platform, as well as content and technology-related services. (1) Subscriptions: Users pay recurring fees for premium plans that typica...
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 | -25.25M | -24.02M | 10.29M | 9.35M | 9.04M |
| EBITDA | -6.32M | -74.13M | -55.35M | -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
Negative
3.38
Price Trends
3.55
Negative
3.72
Negative
3.48
Negative
Market Momentum
-0.06
Positive
44.12
Neutral
19.36
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANGH, the sentiment is Negative. The current price of 3.38 is below the 20-day moving average (MA) of 3.60, below the 50-day MA of 3.55, and below the 200-day MA of 3.48, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 44.12 is Neutral, neither overbought nor oversold. The STOCH value of 19.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
65 Neutral | $16.45B | 24.37 | 90.84% | 2.45% | 12.91% | 125.41% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
52 Neutral | $627.66M | 69.44 | 2.34% | ― | 11.41% | 15.57% | |
45 Neutral | $31.67M | -1.43 | 114.87% | ― | -23.12% | 13.43% | |
42 Neutral | $30.37M | -0.25 | -205.22% | ― | 27.16% | -18.55% |
* Communication Services Sector Average
ANGH
Anghami Inc.
3.33
0.53
18.93%
LVO
LiveOne
2.53
-3.11
-55.14%
WMG
Warner Music Group
31.69
-0.81
-2.50%
RSVR
Reservoir Media
9.60
2.10
28.00%
Anghami Inc. Corporate Events
Anghami Announces Board Resignation and New Audit Committee Chair
Aug 14, 2026
On August 10, 2026, Anghami Inc., the Abu Dhabi–based digital media and technology company listed in the U.S., recorded a board-level change with the resignation of director Michael Johnson. The company specified that Johnson’s departu...
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.