Anghami Inc. (ANGH) AI Stock Analysis

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Anghami Inc.

(NASDAQ:ANGH)

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Rating:42Neutral

Price Target:$3.00▼(-12.79% 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 GrowthStrong 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 ProfitNegative 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.

Anghami Inc. (ANGH) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $31.19M
Dividend Yield: ―
Average Volume (3M): 21.18K
Price to Earnings (P/E): -0.3
Beta (1Y): 0.93
Revenue Growth: 27.16%
EPS Growth: -18.55%
Country: US
Employees: 191
Sector: Communication Services
Sector Strength: 60
Industry: Entertainment

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 through...

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 typically...

Anghami Inc. Financial Statement Overview

Summary

Strong recent revenue growth is outweighed by weak fundamentals: negative gross profit in 2024–2025, widening net losses in 2025, and continued negative operating results. The main offset is lower financial risk from sharply reduced debt, but equity has declined materially alongside ongoing losses.

Income Statement

18Very Negative

Balance Sheet

44Neutral

Cash Flow

20Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0	99.30M	78.09M	41.38M	48.48M	35.50M
Gross Profit	0	-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

Technical Analysis SentimentNegative

Last Price3.44

Price Trends

50DMA3.56Negative

100DMA3.55Negative

200DMA3.48Negative

Market Momentum

MACD-0.03Negative

RSI48.44Neutral

STOCH51.71Neutral

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 3.44 is above the 20-day moving average (MA) of 3.43, below the 50-day MA of 3.56, and below the 200-day MA of 3.48, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 48.44 is Neutral, neither overbought nor oversold. The STOCH value of 51.71 is Neutral, 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

Overall Rating

UnderperformOutperform

Sector (60)

Financial Indicators

ANGH against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WMG	74Outperform	$16.66B	24.69	90.84%	2.42%	12.91%	125.41%
Sector *	60Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
RSVR	59Neutral	$679.26M	60.28	0.01%	―	10.90%	16.03%
LVO	44Neutral	$36.88M	-1.57	114.87%	―	-23.12%	13.43%
ANGH	42Neutral	$31.36M	-0.26	-205.22%	―	27.16%	-18.55%

* Communication Services Sector Average

Performance Comparison

ANGH and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
ANGH	Anghami Inc.	3.44	0.52	17.81%
LVO	Liveone, Inc.	2.78	-1.51	-35.20%
WMG	Warner Music Group Corp.	31.85	2.28	7.71%
RSVR	Reservoir Media, Inc.	10.41	3.19	44.18%

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 departure did not stem...

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.

Date of analysis: Oct 21, 2026

Anghami Inc. AI Stock Analysis