Anghami Files 2022 Annual Report With 37% Revenue Growth & Announces Q1 2023 Results With 60% Improvement in EBITDA - Seite 2

As part of its ongoing commitment to increase the Average Revenue Per User (ARPU), Anghami plans to launch the Gold subscription plan in May 2023. This premium offering will feature innovative AI-generated services and several new features, and will coincide with the repricing of legacy telco plans to optimize revenue generation.

Although the occurrence of the Holy month of Ramadan in Q1 2023 (which is usually characterized by slower business activity and much lower music consumption in the Middle East) affected certain revenue streams and growth prospects, particularly within the Live Events segment, Anghami's overall performance demonstrates its ability to surmount challenges and deliver significant business improvements.

Eddy Maroun, Anghami CEO, remarked, "Our team's exceptional execution in the face of bottlenecks and currency devaluation has culminated in a highly efficient period. Building on Q1 2023’s strong performance, the momentum continues in April 2023 which already shows record growth in revenue in both Subscriptions and Advertisements segments."

Elie Habib, Anghami Chairman & CTO, added, "We are eager to continue enhancing efficiency, delivering higher margins, and innovating with our upcoming Gold subscription plan, laying the foundation for a prosperous 2023."

On May 16, 2023, Anghami submitted its annual report, including audited financials, for the fiscal year ended December 31, 2022, to the United States Securities and Exchange Commission (SEC) through Form 20-F. The complete annual report can be accessed on Anghami's website: https://www.anghami.com/investors.

Continuing its commitment to enhancing margins, Anghami remains dedicated to leveraging the momentum gained from its focus on efficiency throughout 2023.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Anghami’s actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely as predictions of future events.

About Anghami Inc.

The leading music streaming technology platform in the Arab world. To learn: https://anghami.com/investors

*Source: AETOSWire

View source version on businesswire.com: https://www.businesswire.com/news/home/20230517005484/en/

The Anghami Incorporation Stock at the time of publication of the news with a raise of +1,71 % to 1,190USD on Nasdaq stock exchange (17. Mai 2023, 13:12 Uhr).