BuzzFeed, Inc.

day and thank you for standing by. Welcome to the BuzzFeed, Inc. Third Quarter 2025 Earnings Conference Call. I would now like to hand the conference over to your first speaker today, Juliana Clifton, Vice President of Communications.

Please go ahead.

Hi, everyone, and welcome to BuzzFeed, Inc.' 's Third Quarter 2025 Earnings Conference Call. I'm Juliana Clifton, VP of Communications for BuzzFeed. Joining me today are CEO Jonah Peretti and CFO Matt Omer. Before we begin, please note that our remarks today will include forward-looking statements. Actual results may differ materially from those contemplated by these statements. Risks and factors that could cause actual results to differ materially are described in our Q3 2025 earnings release and in our filings with the SEC, including our most recent annual report on Form 10-K and our Q3 2025 quarterly report on Form 10-Q filed with the SEC. Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events. During this call, we present both GAAP and non-GAAP financial measures, including adjusted EBITDA and adjusted EBITDA margins. The use of non-GAAP financial measures allows us to measure the operational strength and performance of our business, to establish budgets, and to develop operational goals for managing our business. We believe adjusted EBITDA and adjusted EBITDA margins are relevant and useful information for investors because they allow investors to view performance in a manner similar to the method used by our management. A reconciliation of these GAAP to non-GAAP measures is included in today's earnings press release, which is available now on our investor relations website.