Anghami Inc (ANGH) AI Stock Analysis
ANGH AI stock analysis summary
AI ResearchAnghami Inc (ANGH) operates a digital music entertainment streaming platform serving the Middle East and North Africa. In FY2025, revenue increased 27.2% to $99.3M, though net income remained negative at -$89.5M. The company maintains net cash of $22.3M alongside an enterprise value of $13.2M.
- Market cap
- $30.1M
- Revenue (TTM)
- $99.3M
- P/E
- —
- 1Y return
- 20.7% S&P 500 16.8%
- Avg. target
- $17.00 412.0% vs last close
Bull case
- Revenue expanded at a 5-year CAGR of 26.6% from FY2020 through FY2025, reaching $99.3M.
- The balance sheet maintains net cash of $22.3M, supported by $22.4M in cash and short-term investments against $126,179 in total debt.
- The stock trades at a price-to-sales ratio of 0.3x, compared to the 0.8x median of its US-listed Communication Services peers.
Bear case
- Net income remained deeply negative at -$89.5M in FY2025, corresponding to a net margin of -90.1%.
- Cash burn remained high in FY2025, generating free cash flow of -$35.3M and operating cash flow of -$35.2M.
- Short-term liquidity is pressured, with a current ratio of 0.49 as of March 31, 2026.
What Anghami does
Anghami Inc. is a digital music entertainment technology platform serving the Middle East and North Africa regions. Headquartered in Abu Dhabi, United Arab Emirates, and founded in 2012, the company provides a music application that enables users to stream and download a catalog of Arabic and international music. In addition to operating as a listening platform with personalized recommendations, Anghami promotes regional artists and supports the local music ecosystem. The platform serves as a cultural hub designed to connect an engaged community of music listeners across the region.
Growth and profitability
Between FY2021 and FY2025, Anghami achieved a 5-year revenue CAGR of 26.6%, lifting revenue from $35.5M in FY2021 to $99.3M in FY2025. Top-line expansion accelerated significantly in FY2024 with 88.7% growth to $78.1M, followed by 27.2% growth in FY2025. Despite top-line gains, margins have weakened. Gross margin dropped from 25.5% in FY2021 to -25.4% in FY2025. Operating margin in FY2025 was -72.9%, and net income stood at -$89.5M, reflecting a net margin of -90.1%. In the latest quarter ended March 31, 2024, quarterly revenue increased 5.3% year-over-year, while trailing twelve-month EPS was -$13.16.
Balance sheet and cash flow
As of March 31, 2026, Anghami held cash and short-term investments of $22.4M and total debt of $126,179, resulting in net cash of $22.3M. Shareholders' equity was $27.3M and total assets were $113.9M, with a debt-to-equity ratio of 0.00. Working capital liquidity is limited, reflected in a current ratio of 0.49. In FY2025, operating cash flow was -$35.2M, free cash flow was -$35.3M, and capital expenditures were $101,676. The company's share count increased 76.6% over 5 years.
Valuation and performance
Anghami carries a market capitalization of $30.1M and an enterprise value of $13.2M. The stock trades at a price-to-sales multiple of 0.3x and an EV-to-revenue multiple of 0.1x, both below the median of its US-listed Communication Services peers at 0.8x price-to-sales. Its price-to-book ratio is 1.3x. Over the past year, ANGH gained 20.7%, outpacing the S&P 500's 16.8% return. Over a 5-year period, the stock fell 96.7%, trailing the S&P 500's 83.0% gain.
What analysts expect
Analysts have established a mean price target of $17.00 for Anghami, which sits 412.0% above its last closing price of $3.32 on October 16, 2026. Across the last four quarters, the company delivered 0 EPS beats. The shares carry a beta of 1.07 and closed 4.8% below their 200-day moving average.
Key risks and what to watch
- Annual operating cash burn of -$35.2M in FY2025 exerts pressure on the cash balance of $22.4M.
- Shareholder value faces dilution pressure following a 76.6% increase in the share count over 5 years.
- Gross margin was negative at -25.4% in FY2025, pointing to persistent direct cost challenges.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this ANGH AI stock analysis
This page is an AI-written research summary of Anghami Inc (ANGH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: ANGH income statement, ANGH balance sheet, ANGH key metrics, ANGH chart. See the ANGH stock overview for the latest quote and news.
ANGH AI stock analysis FAQ
What was Anghami's revenue in FY2025?
Anghami generated revenue of $99.3M in FY2025, representing year-over-year growth of 27.2% and a 5-year revenue CAGR of 26.6%.
Is Anghami profitable?
No, Anghami is not profitable, recording net income of -$89.5M in FY2025, an operating margin of -72.9%, and a trailing twelve-month EPS of -$13.16.
How much debt does Anghami carry?
As of March 31, 2026, Anghami held $126,179 in total debt against $22.4M in cash and short-term investments, resulting in net cash of $22.3M.
What is the analyst price target for ANGH?
The mean analyst price target is $17.00, representing a 412.0% premium over the last close of $3.32 on October 16, 2026.