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Anghami Valuation Multiples

Discover Anghami's revenue and EBITDA valuation multiples and M&A history.

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Anghami Overview

About Anghami

Anghami Inc is a digital music entertainment technology platform in the Middle East and North Africa, with a catalog of songs. The company features licensed content from Arabic labels, independent artists, and distributors. It also features music from International labels such as Universal, Sony, and Warner Music. It generates the majority of its revenue from subscriptions.

Founded

2012

HQ

United Arab Emirates

Employees

186

Financials (FY)

Revenue: $99M
EBITDA: ($75M)

EV

$8M

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Anghami Financials

Anghami reported last fiscal year revenue of $99M and negative EBITDA of ($75M).

In the same fiscal year, Anghami generated ($25M) in gross profit, ($75M) in EBITDA losses, and had net loss of ($89M).

Anghami P&L

In the most recent fiscal year, Anghami reported revenue of $99M and EBITDA of ($75M).

Anghami is unprofitable as of last fiscal year, with gross margin of (25%), EBITDA margin of (76%), and net margin of (90%).

See analyst estimates for Anghami
Last FY2025202620272028
Revenue$99M$99M
Gross Profit($25M)($25M)
Gross Margin(25%)(25%)
EBITDA($75M)($75M)
EBITDA Margin(76%)(76%)
EBIT Margin(73%)(73%)
Net Profit($89M)($89M)
Net Margin(90%)(90%)
Net Debt($22M)-

Financial data powered by Morningstar, Inc.

Anghami Stock Performance

Anghami has current market cap of $32M, and enterprise value of $8M.

Market Cap Evolution

Anghami's stock price is $3.52.

Anghami has an EPS (earnings per share) of $-9.87.

See more trading valuation data for Anghami
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$8M$32M0.0%---$-9.87

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Anghami Valuation Multiples

Anghami trades at 0.1x EV/Revenue multiple, and (0.1x) EV/EBITDA.

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Anghami Financial Valuation Multiples

As of September 8, 2026, Anghami has market cap of $32M and EV of $8M.

Anghami has a P/E ratio of (0.4x).

Last FY2025202620272028
EV/Revenue0.1x0.1x
EV/EBITDA(0.1x)(0.1x)
EV/EBIT(0.1x)(0.1x)
EV/Gross Profit(0.3x)(0.3x)
P/E(0.4x)(0.4x)
EV/FCF(0.2x)(0.2x)

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified Anghami Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.

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Anghami Margins & Growth Rates

In the most recent fiscal year, Anghami reported gross margin of (25%), EBITDA margin of (76%), and net margin of (90%).

See estimated margins and future growth rates for Anghami

Anghami Margins

Last FY2025202720282029
Gross Margin(25%)(25%)
EBITDA Margin(76%)(76%)
EBIT Margin(73%)(73%)
Net Margin(90%)(90%)
FCF Margin(37%)(37%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Anghami Operational KPIs

Anghami's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.3M for the same period.

Access forward-looking KPIs for Anghami
Last FY2025202620272028
Revenue per Employee$0.5M-
Opex per Employee$0.3M-
S&M Expenses to Revenue26%26%
G&A Expenses to Revenue1%1%
Opex to Revenue47%47%

Data powered by FactSet, Inc. and Morningstar, Inc.

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Anghami Competitors

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E

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Anghami VC Funding History

Before going public, Anghami raised $13M in total equity funding, across 4 rounds.

Anghami Funding Rounds

DateStageInvestorsRaisedValuationRev. MultipleDeal Summary
Nov-16Series BSamena Capital; du--Anghami announced on 2 November 2016 that it had raised a funding round led by Samena Capital, with the UAE telecommunications operator du also subscribing. The amount raised was not disclosed by the parties. Samena has since stated that the investment was made in July 2016 by the Samena Special Situations Fund II and a selected group of co-investors through a special purpose vehicle named Samena Beats Holdings, and that the vehicle acquired a 9.5 per cent ownership interest in the company. Alongside its investment, du entered into a commercial agreement to bundle the Anghami service with its own products in the United Arab Emirates, giving the streaming company distribution across the operator's subscriber base. Anghami said the proceeds would be used for user acquisition, regional expansion, growth of its music library and development of a music video product. Anghami is a music streaming service for the Middle East and North Africa, offering Arabic and international catalogues through a free advertising-supported tier and paid subscriptions, and it relies on bundling deals with more than fifteen regional telecom operators for distribution and payment collection. The company was founded in 2012 in Beirut by Eddy Maroun and Elie Habib after seed backing from Middle East Venture Partners, and later relocated its headquarters to Abu Dhabi Global Market while retaining offices in Beirut, Dubai, Cairo and Riyadh. At the time of the round it reported roughly 30 million registered users, six million monthly active users and a catalogue of 20 million tracks, with around 500 million songs streamed each month. Anghami later listed on Nasdaq through a merger with a special purpose acquisition company.
Sep-15Series AMiddle East Venture Partners (MEVP)$4M--
Feb-14Series AMobily Ventures$2M--
Jan-13Series AMBC Ventures$8M-Anghami, a music streaming platform founded in 2012 by Elie Habib and Eddy Maroun, provides access to Arabic and international songs across various devices. In January 2013, Anghami FZ-LLC raised venture funding from MBC Ventures. This followed a seed round from Middle East Venture Partners in 2012 and preceded a Series A in 2014 led by MEVP with participation from MBC Group and Mobily Ventures.

Acquisitions by Anghami

Anghami has acquired 1 company to date.

Last acquisition by Anghami was on June 30th 2022. Anghami acquired Spotlight Recreational Services for undisclosed valuation.

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Latest Acquisitions by Anghami

Spotlight Recreational Services
Description
Spotlight Recreational Services is a talent management firm specializing in artist and brand promotion across diverse markets. With a multicultural team fluent in multiple languages, the company tailors marketing strategies to cultural nuances in entertainment sectors. Based in operations supporting global clients, it handles artist bookings, event coordination, and brand placements to maximize visibility and engagement.
HQ CountryUnited Arab Emirates
HQ City
Dubai
Deal Date30 Jun 2022
Valuationundisclosed
EV/Revenue
EV/EBITDA

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About Anghami

When was Anghami founded?Anghami was founded in 2012.
Where is Anghami headquartered?Anghami is headquartered in United Arab Emirates.
How many employees does Anghami have?As of today, Anghami has over 186 employees.
Is Anghami publicly listed?Yes, Anghami is a public company listed on Nasdaq.
What is the stock symbol of Anghami?Anghami trades under ANGH ticker.
When did Anghami go public?Anghami went public in 2022.
Who are competitors of Anghami?Anghami main competitors include
What is the current market cap of Anghami?Anghami's current market cap is $32M.
What is the current revenue of Anghami?Anghami's last fiscal year revenue is $99M.
What is the current EV/Revenue multiple of Anghami?Current revenue multiple of Anghami is 0.1x.
Is Anghami profitable?No, Anghami is not profitable.
How many companies Anghami has acquired to date?As of September 2026, Anghami has acquired 1 company.
What was the largest acquisition by Anghami?None of the M&A deals Anghami has completed have disclosed valuations.
What companies Anghami acquired?Anghami acquired Spotlight Recreational Services.
In how many companies Anghami has invested to date?Anghami hasn't invested in any companies yet (or none have been disclosed publicly).

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