Angi Inc.

Good day and welcome to the Angie Home Services Reports Q1 2020 results conference call. At this time, I would like to turn the conference over to Glenn Shiffman, Chief Financial Officer of IAC. Please go ahead, sir.

Thank you, operator. Good morning, everyone, and hope you all are safe. Glenn Shiffman here, and welcome to the Angie Home Services first quarter earnings call. Joining me today is Joey Levin, Chairman of Angie Home Services and CDO of IAC, and Brandon Woodenhour, CDO of Angie Home Services. Joey, I will also address any questions you may have on IAC's first 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 will 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 to risks and uncertainties, and our actual results could differ materially from the views expressed today. Some of these risks have been set forth in both IAC and Antidome Services' first quarter press releases and our reports filed with the SEC. will also discuss certain non-GAAP measures, which, as a reminder, include adjusted EBITDA, which we will refer to today as EBITDA, for simplicity during the call. I'll also refer you to our press releases, the IAT shareholder letter, and again to the investor relations section of our website for all comparable GAAP measures and full reconciliations for all material non-GAAP measures. Now let's jump right into it. Joseph?

Thanks, Glenn. Welcome, everybody. Glenn and I are sitting here in New York City, six feet apart. We've got Mr. Ridenour on video in Colorado where we're exchanging hand signals to manage the call. But other than that, the earnings ritual is not much different. We always do this with everybody remote, and so... Hopefully that goes smoothly today. Normally I like to thank our employees in the quarter when we're doing great work and getting good results. I actually want to thank a different group today, which is our employees have the benefit right now of working from home with only minor inconveniences, and the only reason we're all able to operate from the safety of our own homes is because there's a lot of people at a lot of other companies who are putting themselves in harm's way, doing the work on the front lines. And I just want to say that on behalf of all 9,000 IAC employees, we're incredibly grateful to that group of people for making what we do and a lot of other people do possible. Back to IAC, we're really pleased with how the quarter turned out given the The overall environment and we're cautiously optimistic on where things go from here. We have a meeting with the CEOs every Monday afternoon which we've been doing since we started working from home and sheltering in place It's really interesting to see the tone of the businesses evolve over that. The first couple of weeks was a little bit of confusion, and the next few weeks were a little bit of disappointment. And the two weeks after that, it seems like a lot of optimism among our businesses. And it's comforting to be a part of IAC right now where we can see the benefit of a multi-business business and be able to communicate with each other on what's going on. and how we're managing through changes in the business and it's great to see how our leadership is handling that.