CoStar Group, Inc.

Ladies and gentlemen, thank you for standing by and welcome to the COSTAR fourth quarter results conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer period. Instructions will be given at that time. If you should require assistance during today's conference call, please press star followed by zero and an operator will assist you offline. Also, today's conference call is being recorded. I would now like to turn the conference over to your host, Sarah Spray, Investor Relations for the CoStar Group. Please go ahead.

Thank you. Good evening, and thank you all for joining us to discuss the fourth quarter and full year 2019 results of the CoStar Group. Before I turn the call over to Andy Florence, CoStar's CEO and founder, and Scott Wheeler, our CFO, I would like to review the Safe Harbor Statement, which has some new language, so listen well. Certain portions of the discussion today may contain forward-looking statements which involve many risks and uncertainties that can cause actual results to differ materially from such statements. Important factors that can cause actual results to differ include, but are not limited to, those stated in COSTAR Group's press release issued earlier today and in our filings with the SEC, including our most recent annual report on Form 10-K and quarterly report on Form 10-Q under the heading Risk Factors. All forward-looking statements are based on information available to COSTAR on the date of this call. COSTAR assumes no obligation to update these statements, whether as a result of new information, further events, or otherwise. Reconciliation to the most directly comparable GAAP statements and GAAP measure to the non-GAAP financial measure discussed on this call, including EBITDA, adjusted EBITDA, non-GAAP income, and forward-looking non-GAAP guidance are shown in detail in our press release issued today, along with definitions for those terms. The press release is available on our website, located at CoStar Group under Press Room. As a reminder, today's conference call is being webcast, and the link is also available on our website under Investor Relations. Please refer to today's press release on how to replay this call. Over to you, operator. Oh, no, sorry. Actually, what am I saying? Actually, I would like to now turn the call over to our CEO, Andy Lawrence. Andy.

Thank you very much, Sarah. Thank you.