Angi Inc.

Ladies and gentlemen, good day and welcome to the Angie Home Services Report, Quarter 3, 2019 results call. At this time, I would like to turn the conference over to Mr. Glenn Schiffman, the CFO of IAC. Please go ahead, sir.

Thank you, operator. Good morning, everyone. Glenn Shiffman here, and welcome to Angie Home Services' third quarter earnings call. Joining me today is Joey Levin, chairman of Angie Home Services and CEO of IAC, and Brandon Ridenour, CEO of Angie Home Services. Joey and I will also address any questions you may have on IAC's third quarter results. Similar to last quarter, supplemental to our quarterly earnings releases, IAC has also published its quarterly shareholder letter. We will not be reading the shareholder letter on this call. It is currently available on the investor relations section of our website. I will shortly turn the call over to Joey to make a few brief introductory remarks, and then we'll open it up to Q&A. Before we get to that, I'd like to remind you that during this call, we may discuss our outlook and future performance. These forward-looking statements typically may be preceded by words such as we expect, we believe, we anticipate, or similar such statements. These forward-looking views are subject and our actual results could differ materially from the views expressed today. Some of these risks have been set forth in both IAC and Angie Home Services third quarter press releases and our reports filed with the SEC. We'll also discuss certain non-GAAP measures, which as a reminder include adjusted EBITDA, which we'll refer to today as EBITDA for simplicity during the call. I'll also refer you to our press releases, the IAC shareholder letter, and again, to the investor relations section of our websites for all comparable gaps and full reconciliation for all material non-gap measures. Now let's jump right into it. Joey? Thanks, Glenn. Thanks, everybody, for joining.

We entered this year with plans to accelerate revenue growth and really invest through our P&L in the form of higher margins, which is something we're doing for the first time in a really long time to accomplish that. And we did that for a few reasons. We saw opportunities and continue to see big opportunities in our addressable markets. We have fantastic leaders in fantastic categories, and we wanted to press those competitive leads. and we really like the price of internal investment more than the price of external investment opportunities. And as we're nearing the end of the year, we feel very good about that decision. We're seeing the accelerating revenue growth we are looking for. We like our position as we start to end the year going into next year. And We have real high confidence in the business, including at Angie, where we had a bit of a bumpy quarter last quarter, and we're feeling good about our outlook now from here. Obviously, we're in the middle of a discussion with the special committee of match, and to the extent that happens could be a big transformation for our business. and it's a really exciting time for us at IEC because the extent we can pull that off if we go back to the period of rebuilding which is a phase that we love, that I think we can do well in and starting to focus on some new and interesting things if we can pull that off. I'm sure you all have a lot of questions so let's transition that to questions starting with the first now. Operator.