Anghami Inc, listed on NASDAQ under the ticker ANGH, experienced a notable spike in its share price on Wednesday morning. This upward movement followed the publication of the company's financial results for the first six months of 2025, which showcased nearly double the revenue compared to the same period in the previous year. Alongside this financial report, Anghami emphasized its collaboration with Warner Bros. Discovery Inc (NASDAQ:WBD), further captivating investor attention.
Revenue and Subscriber Growth
For the half-year ending June 30, 2025, Anghami achieved a remarkable 97% increase in revenue year-over-year, reaching $48.4 million. This substantial growth was primarily attributed to the integration of OSN+ and increased subscription income, which accounted for $43 million of the total revenue. The subscriber base similarly expanded, with paying users doubling to 3.54 million. Additionally, the total number of registered users surpassed 120 million within the Middle East and North Africa (MENA) market, attesting to the platform's increasing penetration in the region.
Ongoing Costs and Losses
Despite the impressive top-line performance, Anghami recorded a net loss of $37.1 million for the period. The continuation of significant acquisition and integration expenses related to OSN+ contributed to this deficit. Earlier in 2025, a pivotal investment took place when Warner Bros. Discovery injected $57 million into OSN Streaming Ltd., a majority-owned entity of Anghami. This funding secured exclusive rights to premium content, including HBO and Max Originals, strengthening the streaming offerings available through the service.
Management Outlook and Market Valuation
Looking ahead, Anghami's management projects continued revenue growth throughout the second half of 2025. However, the company anticipates that integration-related costs will persist, exerting pressure on profit margins. Management remains focused on achieving economies of scale and implementing cost controls, which are expected to alleviate margin constraints over time. As of the close of trading on Tuesday, Anghami's market capitalization stood at approximately $21 million, reflecting recent price performance.
Stock Performance and Technical Indicators
Despite the rapid expansion in revenue, Anghami's stock has experienced a substantial decline over the preceding 12 months and was trading near its 52-week low before this recent rally. Investors are thus faced with the challenge of balancing enthusiasm over the accelerating top-line growth against the backdrop of sustained losses and execution risk inherent to ongoing integration efforts.
According to Benzinga Edge stock rankings, ANGH demonstrates bullish momentum in short- and medium-term price trends, indicating positive near-term investor sentiment. Conversely, the long-term trend remains bearish, signaling persistent challenges over extended horizons. At the time of reporting on Wednesday, Anghami shares had surged 63.79%, reaching a price of $3.80 as per Benzinga Pro data.
Technical analysis points to favorable conditions, underscored by recent increases in price and volume activity. However, caution is advised as the stock price remains below its longer-term average levels, suggesting the possibility of underlying selling pressure should the positive momentum falter. Investors closely monitoring the stock will need to consider both the broader market dynamics and any emerging news or developments impacting Anghami's business trajectory.