DoorDash, Inc.

Good afternoon, everybody, and thanks for joining us on our Q4 2023 earnings call. I'm very pleased today to be joined by co-founder, chair, and CEO, Tony Hsu, and CFO, Ravi Nekonda. We'll be making forward-looking statements during today's call, including our expectations for our business, financial position, operating performance, our guidance, strategies, capital allocation approach, and the broader economic 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 a reconciliation to the most directly comparable GAAP financial measures, may be found in our earnings release, 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 webcasted on our IR website. An audio replay of the call will be available on our website shortly after the call ends. Bundy, we'll pass it back to you, and we can take our first question.

The floor is now open for your questions. To ask a question at this time, simply press the star followed by the number one in your telephone keypad.

We'll now take a moment to compile our roster. Our first question comes from the line of Michael Morton with Moffitt Nathanson.