Angi Inc.

Good morning, and welcome to the IAC and Angie first quarter 2023 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. Please note, this event is being recorded. I would now like to turn the conference over to Christopher Halpin, CFO and COO of IAC. Please go ahead.

Thank you. Good morning, everyone. Christopher Halpin here, and welcome to the IAC and Angie Inc. first quarter earnings call. Joining me today is Jolie Levin, CEO of IAC and CEO and Chairman of Angie Inc. Similar to last quarter, supplemental to our quarterly earnings releases, IAC has also published its quarterly shareholder letter, which is currently available on the investor relations section of IAC's website. We will not be reading the shareholder letter on this call. I will shortly turn the call over to Joey to make a few brief introductory remarks. We will then open it up to Q&A. Before we get to that, I'd like to remind you that during this presentation, 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 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 IAC's and Angie Inc.' 's first quarter releases and our respective filings 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 releases, the IAC shareholder letter, and again, to the investor relations section of our respective websites, for all comparable gap measures and full reconciliations for all material non-gap measures. Now, let's jump right into it, Joey. Thank you, Chris.

Welcome, everybody. Thanks for joining us this morning. Feels good to be playing a bit of offense again here. I think we've meaningfully turned a corner on earnings. I think the back to basics theme is working here. We have really focused internally for the last quarter or several quarters. And I think that's starting to show up in our numbers. And that's allowed us to focus on allocating capital again, too. You saw we put a lot of capital to work this quarter and really all of it focused internally on the things we know really well. I think that's consistent with our back to basics theme and consistent with what we're seeing in our business, which is We're getting things working. We're getting things working in terms of profitability. We're getting things working in terms of customer experience. And we're getting things working in terms of preparing for the future and starting to win competitively. And that feels really good to be on that team. I know there's a lot of things we did this quarter that people are interested to hear about. So let's get to questions quickly. Thanks, Operator.