ANGH on Nasdaq

Anghami

Logo: V.M.A 87, CC BY-SA 4.0, via Wikimedia Commons4

Music streaming service in the Arab world

Anghami (Arabic: أنغامي ʾanġāmī "melodic"/"my melodies") is the first legal music streaming platform and digital distribution company in the Arab world. It launched in November 2012 in Lebanon, providing unlimited Arabic and international music to stream and download for offline mode.3 It is headquartered in Abu Dhabi.1 It employed 120 people in 2023.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

Nov 2012Founded1

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  • TickerANGH on Nasdaq1
  • IndustryCommunications Services, NEC1
  • HeadquartersAbu Dhabi1
  • Websitewww.anghami.com
  • Incorporated inCayman Islands5
  • Business address16Th Floor, Al-Khatem Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi5
  • Filer categoryNon-accelerated filer5
  • Legal formCorporation

Anghami (Arabic: أنغامي ʾanġāmī [ʔanˈɣaːmi], "melodic"/"my melodies") is the first legal music streaming platform and digital distribution company in the Arab world. It launched in November 2012 in Lebanon, providing unlimited Arabic and international music to stream and download for offline mode.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-30.8%Gross margin7
-79.6%Operating margin7
-81.4%Net margin7
88.7%Revenue growth, 20247
-108.4%Return on equity7
-$47.9MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Revenue From Subscriptions brought in 90% of the revenue Anghami broke down this way in fiscal 2025.

  1. Revenue From Subscriptions$89.2M890%up 37% from 2024
  2. Revenue From Advertisement$8.4M88%down 26% from 2024
  3. Revenue From Live Events$1.8M82%down 6% from 2024
Products and services by year
Products and services202320242025
Revenue From Subscriptions$24.6M$65.0M$89.2M
Revenue From Advertisement$9.9M$11.2M$8.4M
Revenue From Live Events$6.9M$1.9M$1.8M

Business segments

Revenue From Subscription brought in 90% of the revenue Anghami broke down this way in fiscal 2025.

  1. Revenue From Subscription$89.2M890%up 37% from 2024
  2. Revenue From Advertisement$8.4M88%down 26% from 2024
  3. Revenue From Live Events$1.8M82%down 6% from 2024
Business segments by year
Business segments202320242025
Revenue From Subscription$24.6M$65.0M$89.2M
Revenue From Advertisement$9.9M$11.2M$8.4M
Revenue From Live Events$6.9M$1.9M$1.8M

Regions

AE brought in 30% of the revenue Anghami broke down this way in fiscal 2025.

  1. AE$20.8M830%up 44% from 2024
  2. EG$15.6M823%up 30% from 2024
  3. Others$12.6M818%up 27% from 2024
  4. KW$8.6M812%up 44% from 2024
  5. QA$5.3M88%down 16% from 2024
  6. LBMember$4.6M87%up 50% from 2024
  7. JO$1.5M82%up 1% from 2024
Regions by year
Regions202320242025
AE$11.8M$14.5M$20.8M
EG$9.3M$12.0M$15.6M
Others$3.9M$9.9M$12.6M
KW$1.3M$5.9M$8.6M
QA$713.1K$6.3M$5.3M
LBMember$3.5M$3.1M$4.6M
JO$1.2M$1.5M$1.5M

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue98¢$102.1M
  • Research and development0¢$353.2K
  • Interest0¢$175.0K
  • Income tax2¢$1.8M

Out of $78.1M in revenue.7 The company lost money this year.

Financial statements

Revenue9107$78.1M in 2024+156% since 2020
0$20.0M$40.0M$60.0M$80.0M2020: $30.5M$30.5M20202021: $35.5M$35.5M2021+16%2022: $48.5M$48.5M2022+37%2023: $41.4M$41.4M2023−15%2024: $78.1M$78.1M2024+89%
Gross profit9107-$24.0M in 2024
-$30.0M-$20.0M-$10.0M0$10.0M$20.0M2020: $8.2M$8.2M20202021: $9.0M$9.0M2021+11%2022: $9.4M$9.4M2022+3%2023: $10.3M$10.3M2023+10%2024: -$24.0M-$24.0M2024
Operating income9107-$62.1M in 2024+2338% since 2020
-$80.0M-$60.0M-$40.0M-$20.0M02020: -$2.5M-$2.5M20202021: -$13.6M-$13.6M2021+432%2022: -$17.4M-$17.4M2022+28%2023: -$14.6M-$14.6M2023−16%2024: -$62.1M-$62.1M2024+327%
Net income9107-$63.6M in 2024+1007% since 2020
-$80.0M-$60.0M-$40.0M-$20.0M02020: -$5.7M-$5.7M20202021: -$18.1M-$18.1M2021+214%2022: -$61.2M-$61.2M2022+239%2023: -$15.7M-$15.7M2023−74%2024: -$63.6M-$63.6M2024+306%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Revenue$99.3M$78.1M$41.4M
Cost of revenue-$124.6M-$102.1M-$31.1M
Gross (loss) / profit-$25.3M-$24.0M$10.3M
Selling and marketing expenses-$26.1M-$19.3M-$8.4M
General and administrative expenses-$20.8M-$18.8M-$17.1M
Consultancy and professional fees-$1.4M-$1.2M-$1.7M
Government grants claimed$1.1M$1.8M$2.3M
Impairment of intangible asset-$15.0M
Impairment of goodwill-$600.0K
Operating loss-$87.4M-$62.1M-$14.6M
Finance costs-$5.0M-$175.0K-$268.5K
Finance income$1.1M$538.9K$19.0K
Other income$245.7K$311.6K$3.2M
Share of loss of a joint venture-$8.4K-$213.8K
Loss on liquidation of joint venture-$354.6K
Fair value change of warrants liabilities$173.9K$1.6M-$575.2K
Fair value change of embedded derivative liability$3.6M-$609.3K
Foreign exchange gain / (loss), net$587.5K-$1.0M-$2.7M
Loss before tax-$86.7M-$61.8M-$15.0M
Income tax expense-$2.9M-$1.8M-$655.0K
TOTAL LOSS AND COMPREHENSIVE LOSS FOR THE YEAR-$89.6M-$63.6M-$15.7M
Equity holders of the Parent-$89.5M-$63.6M-$15.8M
Non-controlling interests-$101.9K-$38.0K$147.7K
Basic loss per share attributable to equity holders of the Parent (in Dollars per share)-$13.16-$11.03-$5.98
Diluted loss per share attributable to equity holders of the Parent (in Dollars per share)-$13.16-$11.03-$5.98

Compare Anghami with another company

Corporate structure

Anghami sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Anghami

  • Anghami Abu Dhabi

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Anghami reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$1.4M7 Dec 31, 2024$1.8M7 Dec 31, 2023−25.0%
Operating-lease assets (leased space)$207.8K7 Dec 31, 2024$142.3K7 Dec 31, 2023+46.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$14.1M7 Dec 31, 2024$6.2M7 Dec 31, 2023+126.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$91.8M7 Dec 31, 2024$1.2M7 Dec 31, 2023+7644.7%

The story

The goal of Anghami was to reduce music piracy in the Arab world. The service was meant to serve as an alternative to piracy.

Anghami was founded by Eddy Maroun, and Elie Habib in Lebanon, launched initially as a mobile only app with the slogan "The idea is that everywhere you go, you’ll find your music". One of Anghami's app features is Dolby Pulse encoding, which reduces the file size of streamed music for faster and reliable online streaming when the internet bandwidth is fluctuating. Anghami has more than 35 telecom partners.

Shortly after the partnership between Anghami and mobile operators in MENA has been agreed few months after launching, the service experienced rapid growth with 1 million registered users four months after the launch. However, the next million was reached in three months, mainly after partnering with the major media player MBC Group Middle East Broadcasting Center that featured Anghami in one of its most successful TV shows Arab Idol. In 2013, Anghami partnered with Facebook.

By 2017, Anghami reached 30 million listeners, with 75% of users being in the Arab region. In 2019, Anghami's founder revealed in an interview that Anghami has 21 million monthly active users and 1 million paying subscribers.

In March 2021, Anghami became the first Arabic technology company to list on New York's Nasdaq through a Special Purpose Acquisition Company (SPAC) merger with Vistas Media Acquisition Company and the company was valued at between $220 million and $230 million.

In August 2021, Anghami announced plans to launch a new hybrid entertainment venue named the Anghami Lab in multiple cities worldwide, including Dubai, Riyadh, Jeddah, Cairo, Beirut, London, New York and Los Angeles.

From Wikipedia’s article on Anghami, shared under CC BY-SA 4.0.6

Leadership

Who has led Anghami, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (14)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorAbhayanand Singh named Aug 29, 2023 to Nov 14, 202328
  • DirectorFawad Tariq Khan named Aug 29, 2023 to Nov 14, 202328
  • DirectorJana Yamani named Aug 29, 2023 to Nov 14, 202328
  • DirectorKaswara Saria Alkhatib named Aug 29, 2023 to Nov 14, 202328
  • DirectorWalid Samir Hanna named Aug 29, 2023 to Nov 14, 202328

Employees over time

  • 20231201

Timeline

  1. Apr 23, 2026New chief executive Elias Habib becomes CEO12
  2. Feb 4, 20228-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer29
  3. Jan 20, 20228-K Shareholder vote; Other events30
  4. Jan 18, 20228-K Financial statements and exhibits31
  5. Dec 22, 20218-K Other events32
  6. Dec 16, 20218-K Other events33
  7. Dec 1, 20218-K Earlier financial statements no longer reliable34
  8. Nov 23, 20218-K Earlier financial statements no longer reliable35
  9. Nov 10, 20218-K Entered a material agreement; New debt or obligation; Other events36
  10. Nov 4, 20218-K Other events37
  11. Oct 15, 20218-K Other events38
  12. Aug 6, 2020New chief executive F. Jacob Cherian becomes CEO13
  13. Nov 2012Founded Founded1

Filings

178 filings to the SEC since October 2021: 8 annual reports, 3 quarterly reports, 10 major events, 12 insider forms, 47 large holders, 3 private raises, 95 other. The latest 20:

  1. Oct 8, 2026SCHEDULE 13D/A EDGAR
  2. Sep 14, 2026SCHEDULE 13D/A EDGAR
  3. Sep 14, 2026SCHEDULE 13D/A EDGAR
  4. Aug 14, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  5. Jul 14, 20263 EDGAR
  6. Jul 8, 20263 EDGAR
  7. Jul 8, 20263 EDGAR
  8. Jun 30, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  9. Jun 26, 2026SCHEDULE 13D/A EDGAR
  10. Jun 26, 2026SCHEDULE 13D/A EDGAR
  11. Jun 18, 202620-F/A AMENDMENT NO. 1 TO FORM 20-F EDGAR
  12. May 1, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  13. Apr 30, 20263/A EDGAR
  14. Apr 30, 202620-F ANNUAL REPORT EDGAR
  15. Apr 29, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  16. Apr 28, 20263 EDGAR
  17. Apr 23, 20263 EDGAR
  18. Apr 14, 20263 EDGAR
  19. Apr 8, 20263 EDGAR
  20. Apr 8, 20263 EDGAR

The 178 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$9.3M 2023–2023
Money received by yearMoney received by year, 2023–2023: $9.3M in all. Private raises (Form D) $9.3M.$0$2.5M$5M$7.5M$10M2023 · Private raises (Form D): $9.3M2023
Figures by year
YearPrivate raises (Form D)Total
2023$9.3M$9.3M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Nov 1, 2023Raised $1.4 million in a private offering of equity28 Form D: 8 investors so far Form D
  2. Oct 6, 2023Raised $2.9 million in a private offering of equity59 Form D: 1 investor so far Form D
  3. Aug 16, 2023Raised $5 million in a private offering of securities60 Form D: 1 investor so far Form D

SEC filer profile

How Anghami is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAnghami Inc2
  • CIK0001871983
  • Filer statusNon-accelerated filer not an emerging growth company; not a shell company61
  • Incorporated inCayman Islands61
  • Fiscal year endsDecember 312
  • Industry code (SIC)4899 Communications Services, NEC2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address16Th Floor, Al-Khatem Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, Abu Dhabi, United Arab Emirates2
  • Phone0971445842512
  • Shares outstanding9,064,808 shares as of Dec 31, 202561
  • AuditorGrant Thornton Audit and Accounting Limited (Dubai Branch), Dubai, United Arab Emirates PCAOB ID 3211; no auditor attestation of internal control over financial reporting61
  • On EDGAR sinceAug 3, 20212
  • Filings151 in all: 6-K (51), SCHEDULE 13D/A (13), 3 (11), SC 13G (10), CORRESP (7), 20-F (6), SC 13G/A (6), UPLOAD (6)2
    All 30 form types

    424B3 (5), 425 (4), F-4/A (4), SCHEDULE 13G/A (4), D (3), F-1/A (3), EFFECT (2), NT 20-F (2), 20-F/A (1), 3/A (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), F-1 (1), F-4 (1), S-8 (1), SC 13D (1), SC 13D/A (1), SCHEDULE 13D (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (20-F) Apr 30, 2026

Securities registered for trading

ClassSymbolExchange
Ordinary Shares, par value USD 0.0001 per shareANGHThe Nasdaq Stock Market LLC
Warrants exercisable to purchase Ordinary SharesANGHWThe Nasdaq Stock Market LLC

From the cover page of the 20-F filed Apr 30, 2026 (Section 12(b) of the Exchange Act).61

Sources

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