Airbnb, Inc.

Good afternoon, and thank you for joining Airbnb's earnings conference call for the fourth quarter of 2022. As a reminder, this conference call is being recorded and will be available for replay from the investor relations section of Airbnb's website following this call. I will now hand the call over to Ellie Mertz, VP of Finance. Please go ahead.

Thank you. Good afternoon and welcome to Airbnb's fourth quarter of 2022 earnings call. Thank you for joining us today. On the call today, we have Airbnb's co-founder and CEO, Brian Chesky, and our chief financial officer, Dave Stevenson. Earlier today, we issued a shareholder letter with our financial results and commentary for our fourth quarter of 2022. These items were also posted on the investor relations section of Airbnb's website. During the call, we'll make brief opening remarks and then spend the remainder of time on Q&A. Before I turn it over to Brian, I would like to remind everyone that we will be making forward-looking statements on this call that involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements due to a variety of factors. These factors are described under forward-looking statements in our shareholder letter and in our most recent filings with the Securities and Exchange Commission. We urge you to consider these factors and remind you that we undertake no obligation to update the information contained on this call to reflect subsequent events or circumstances. You should be aware that these statements should be considered estimates only and are not a guarantee of future performance. Also during this call, we will discuss some non-GAAP financial measures. We've provided reconciliations to the most directly comparable GAAP financial measures in the shareholder letter posted to our IR website. These non-GAAP measures are not intended to be a substitute for our GAAP results. And with that, I will pass the call to Brian.

All right. Well, thank you very much, Ellie. And good afternoon, everyone. Thanks for joining. Before I share results, I want to tell a quick personal story. As you may have seen, I've started hosting again. Last November, I listed my guest room on Airbnb. My listing is called Beyond the Airbed, and the room guests stay in is nostalgically themed around the early years of Airbnb. There's memorabilia on the walls, from the receipt for the original airbed to old photos of me huckling boxes of Obama O's and Captain McCain's breakfast cereal. When guests arrive, I have a welcome basket waiting for them. And the first night, we make dinner together, followed by dessert. We bake Chesky's chips, chocolate chip cookies for my cherished family recipe that I got off Google. The next day, we tour the Airbnb offices with my golden retriever, Sophie Subanova, and I tell the story of building Airbnb. Now, why am I doing this? Well, because I love hosting. Joe and I were the first hosts on Airbnb 15 years ago. And having guests stay in your home with you is the original idea behind Airbnb. It's been an amazing way to connect with people. But I also believe that companies that make the best products make products for themselves. And Airbnb will only be as successful as our host. And the best way to understand our host is to be one. Since I've resumed hosting, I've gotten new firsthand insights that have informed some of the new products we'll be releasing, including some exciting updates this May as part of our 2023 summer release. Now, before we get into our quarterly results, I want to recap the full year of 2022. While we're three years out from the start of the pandemic, we are still living with its impact. We've also seen high inflation, recessionary fears, and the war in Ukraine, all of which we're still dealing with in 2023.