Airbnb, Inc.

Good afternoon and thank you for joining Airbnb's earnings conference call for the fourth quarter of 2024. 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 Angela Yang, Director of Investor Relations. Please go ahead.

Good afternoon and welcome to Airbnb's fourth quarter of 2024 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, Ellie Merz. Earlier today, we issued a shareholder letter with our financial results and commentary for our fourth quarter of 2024. 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. and 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 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 the call, we will discuss some non-GAAP financial measures. We provided reconciliations to the most directly comparable GAAP financial measures in the shareholder letter posted to our investor relations website. These non-GAAP measures are not intended to be a substitute for GAAP results. With that, I'll pass the call to Brian.

All right, well, thank you very much. And hey, everyone, thanks for joining us today. 2024, Airbnb outpaced the travel industry's growth. We ended the year with Q4 revenue, nights booked, and GBV all accelerating from Q3. Now, before we get into the results, I want to just quickly touch on some of the work that got us here. You know, over the past several years, we've been preparing for Airbnb's next chapter. And we wanted to make sure that guests and hosts love our core service before we introduced something new. So we listened to their feedback, and we rolled out more than 535 features and upgrades to improve the experience. These upgrades include major reliability efforts like guest favorites. Guest favorites make it easier for guests to find the best listings in their B&B. We've also made it easier to host by launching the co-host networks. which is a really simple way to find the best local host to manage your Airbnb. Now, in just four months, the co-host network has grown to almost 100,000 listings. At the same time, we've been driving growth in a number of product optimizations. We made it easier for guests to find the perfect stay with enhanced search functionality and better merchandising. And this includes things like suggested destinations, more detailed maps, and a new welcome guide for guests. We also introduced flexible payment options and local payment methods in nearly two dozen countries, making it easier for people around the world to use Airbnb. And we're in the process of rolling out a completely redesigned checkout experience that makes it even simpler to book an Airbnb. Now, as a result, we've seen higher conversion rates, and we expect these improvements to continue delivering growth in 2025. By optimizing key parts of our product, like search, merchandising, and payments. We're seeing strong near-term results, and we're building a foundation to support the introduction of new offerings. Finally, we've rebuilt our platform from the ground up with a new technology stack. This includes new listing management tools for hosts, and these tools make it easier for hosts to list and manage their homes while giving them the ability to eventually offer more services. We've also upgraded our messaging system into a single unified platform, making communication between guests and hosts smoother, more reliable. Now with this new tech platform, we are able to innovate faster and expand beyond short-term rentals into becoming an extensible platform with a range of new offerings. And 2025 marks the start of Airbnb's next chapter. Now, today, Our service is better than ever, and our platform is ready to support what's next. In 2025, we will continue building on this momentum. We're executing on a multi-year growth strategy to perfect our core service, accelerate growth in global markets, and launch and scale new offerings. Now, we've talked a lot on previous calls about how we're preparing to expand beyond our core business. And this is the year you'll see the beginning of a new Airbnb. So now I'm going to turn it over to Ellie to give you a financial update. Ellie?