New York, May 21, 2026, 18:06 EDT
- Anghami finished down 3.9% at $3.23 on Nasdaq.
- The shift happened during a normal U.S. trading session, ahead of the Memorial Day market holiday on May 25.
- Company disclosures this week stayed centered on 2025 growth targets, with OSN+ integration plans and execution risk from high content costs still in the spotlight.
Anghami Inc. shares slipped Thursday, trailing a small gain in the Nasdaq. The Abu Dhabi-based streaming stock stayed weak in light trading after it released its annual results.
ANGH shares on Nasdaq finished at $3.23, down 3.9%. Google Finance and late U.S. prices both put the stock at $3.23 after hours.
Why it matters now: Anghami’s investor-relations page didn’t post any new filings this week, so investors worked with the company’s April 30 annual report and the May 1 6-K. Both filings laid out the numbers for Anghami’s post-OSN+ growth and its related expenses.
The stock dropped even as the market moved higher. The Nasdaq Composite finished up 0.09% at 26,293.10 on Thursday, and the Dow rose as well, according to the Associated Press.
Anghami said 2025 revenue came in at $99.3 million, a 27% gain on last year’s $78.1 million. The rise was lifted by more subscribers to OSN+ and Anghami Plus, and a first full-year result with OSN+ in the numbers. Paid subs went over 3.5 million. The company also said registered users reached above 130 million.
Chief Executive Elie Habib said 2025 will be “the first full year of the combined Anghami and OSN+ business.” Habib added that heading into 2026, the company is looking at “scaling revenue, improving unit economics.” Unit economics refers to how much profit or loss the company makes on each customer after direct costs.
Anghami is leaning on partnerships to balance the numbers. The company said Warner Bros. Discovery wrapped up a $57 million minority investment in OSN Streaming Limited in March 2025. OSN+ has also secured bundle or distribution deals with Noon, talabat, Shahid, and Disney+.
Anghami now has a clearer lane to compete in. It is still a Middle East music streamer up against Spotify and Deezer. OSN+ puts Anghami up against Disney+ and Shahid on the video side. Both Disney+ and Shahid are also Anghami partners, not just rivals for scale.
But costs are the problem. Anghami said fixed video content licensing fees hurt profitability. The company also warned that wars, political instability, currency swings, legal shifts and competition could cause its actual results to miss expectations. If subscriber growth or bundle take-up slows, those fixed video costs could hit margins even more.
Stock history is part of the story. Anghami did a 1-for-10 reverse stock split in August 2025 to get back in line with Nasdaq’s minimum bid-price rule. That type of split merges every 10 shares into 1, raising the price per share but keeping investor stakes the same.
U.S. markets opened for trading Thursday. Nasdaq’s 2026 holiday schedule shows the next planned market holiday is Memorial Day, May 25.
