IAC Inc.

Good morning, everyone. Glenn Schiffman here, and welcome to the IAC and Angie Home Services third quarter earnings call. Joining me today is Joey Levin, CEO of IAC and chairman of Angie Home Services, and Brandon Ridenour, CEO of Angie Home Services. Similar to last quarter, supplemental to our quarterly earnings releases, IAC has also published its quarterly shareholder letter. We will not be reading the shareholder letter on this call. IT IS CURRENTLY AVAILABLE ON THE INVESTOR RELATIONS SECTION OF IAC'S WEBSITE. I WILL SHORTLY TURN THE CALL OVER TO JOEY TO MAKE A FEW BRIEF INTRODUCTORY REMARKS AND THEN WE'LL OPEN IT UP TO Q&A. BEFORE WE GET TO THAT, I'D LIKE TO REMIND YOU THAT DURING THIS CALL WE MAY DISCUSS OUR OUTLOOK AND FUTURE PERFORMANCE. THESE FORWARD-LOOKING STATEMENTS TYPICALLY MAY BE PROCEEDED BY WORDS SUCH AS WE EXPECT, WE BELIEVE, WE ANTICIPATE, OR SIMILAR SUCH STATEMENTS. THESE FORWARD-LOOKING VIEWS ARE SUBJECT TO RISKS AND UNCERTAINTIES, AND OUR ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THE VIEWS EXPRESSED HERE TODAY. SOME OF THESE RISKS HAVE BEEN SET FORTH IN IAC AND ANGI HOME SERVICES' THIRD QUARTER PRESS RELEASES AND OUR RESPECTIVE REPORTS FILED WITH THE SEC. WE'LL ALSO DISCUSS CERTAIN NON-GAP MEASURES, WHICH, AS A TO TODAY SIMPLY AS EBITDA DURING THIS CALL. I'LL ALSO REFER YOU TO OUR PRESS RELEASES, THE IAC SHAREHOLDER LETTER, AND AGAIN TO THE INVESTOR RELATIONS SECTION OF OUR WEBSITES FOR ALL COMPARABLE GAP MEASURES AND FULL RECONCILIATIONS FOR ALL MATERIAL NON-GAP MEASURES. LET'S JUMP RIGHT INTO IT. JOEY?

THANKS, GLENN. GOOD MORNING, EVERYBODY. Very fortunate to be here right now. The fact that you're on this call means you've got your health. This means you're working, probably able to work remotely. And if you're working, God knows you're not doing these earnings calls for fun. But if you're working, it also means you're probably doing pretty well because as a shareholder, things have worked out for IAC during this period. which we're all very grateful for and very much appreciate everyone's support. I know it's a very, very busy week between corporate stuff and, of course, what's going on in the country. As usual, we put some big news in the letter, so I do want to also get to questions quickly. And I know you'll have a bunch. And then after that, we can all get back to watching John King on that map. So I guess, Mark, why don't you open up the first question?

Sure. We'll take our first question from John Blackledge at Calend.