DoorDash, Inc.

Good afternoon. My name is Emma and I will be your conference operator today. At this time, I would like to welcome everyone to the DoorDash fourth quarter 2022 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, again, press the star one. We ask today that you limit yourself to one question and one follow-up. Thank you. Andy Hargraves, you may begin your conference.

Thank you, Emma. Good afternoon, and thanks for joining us for our fourth quarter and full year 2022 earnings call. I'm very pleased today to be joined by co-founder, chair, and CEO, Tony Hsu, CFO and incoming president and COO, Prabir Adarkar, and VP of Finance and Strategy and our incoming CFO, Ravi Anaconda. We'll be making forward-looking statements during today's call, including our expectations for our business, financial position, operating performance, our market, guidance, strategies, our investment approach, and the consumer spending environment. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those described. Many of these uncertainties are described in our SEC filings, including Form 10-Ks and 10-Qs. You should not rely on our forward-looking statements as predictions of future events. We disclaim any obligation to update any forward-looking statements except as required by law. During this call, we will discuss certain non-GAAP financial measures. Information regarding our non-GAAP financial measures, including our reconciliation of such non-GAAP measures to the most directly comparable GAAP financial measures, may be found in our letter to shareholders, which is available on our IR website. These non-GAAP measures should be considered in addition to our GAAP results and are not intended to be a substitute for our GAAP results. Finally, this call is being audio webcast on our IR website, and an audio replay of the call will be available on our website shortly after the call ends. With that, I will pass it to Tony for some brief remarks, and then we'll go into questions.

Tony. Thanks, Andy. Hey, everyone. Thanks for joining us today. Typically, we just dive right into Q&A, but for today's call, I wanted to say a few words at the top about Christopher, Prabir, and Ravi. I'm sure many of you have seen the news that we're naming Prabir president and chief operating officer and Ravi as CFO, as Christopher retires from operating roles and day-to-day management. In his seven-plus years here, Christopher, or CP as we call him internally, has helped to shape our business and our culture. He infused an operator mindset across the company and coached an entire generation of our leaders. On a personal level, I will miss him. I've learned so much from him and consider myself lucky to count him as a business partner and friend. Today's news is a chance to celebrate CP's 33 incredible years as an operator and what he has helped us build. It also shows the strength of our systems and the amazing team we have built at DoorDash. Prabir and Ravi have been with us for more than four years and have mastered every aspect of our business. Both are without equal in this space, and I'm excited for what they'll achieve and what we'll continue building together. Over our near 10-year history, DoorDash has been fortunate to have had a remarkably stable and high-quality leadership team. Nonetheless, everyone in our team has a succession plan. We knew that CP wouldn't always be here, and we've been ready for this possibility for some time. And we're always developing our bench of talent as well as our systems and processes so that the right people can step up when ready. We operate in a very complicated and dynamic space. And the understanding of nuance and the ability to translate this intuition into pragmatic judgment takes time. We're lucky that we have two people we've been grooming for a while and a group of operators behind them to continue executing with excellence without skipping a beat. Prabir and Ravi are also excellent stewards of our unique culture. Again, I wanna thank CP for everything he's done and congratulate both Prabir and Ravi. I'm super excited for what's ahead because as CP likes to say, we're just getting started. With that, I'll turn it back over to Andy and let's get started with your questions.