IAC Inc.

Good morning, everyone. Mark Schneider here, and welcome to the IAC and Angie Inc. second quarter earnings presentation. Joining me today is Joey Levin, CEO of IAC and Chairman of Angie, and O'Sheen Hanrahan, CEO of Angie. 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 for Q&A. Before we get to that, I'd like to remind you that during this presentation, we may discuss our outlook and future performance. These forward-looking statements typically may be preceded by words such as we expect, we believe, we anticipate, or similar statements. These forward-looking views are subject to risks and uncertainties, and our actual results could differ materially from the views expressed today. Some of these risks have been set forth in IEC and ANGI's second quarter press releases and our respective filings with the SEC. We'll also discuss certain non-GAAP measures, which, as a reminder, include adjusted EBITDA, which we'll refer to today as EBITDA for simplicity during the call. I'll also refer you to our press releases, the IEC shareholder letter, and again to the investor relations section of our website for all comparable GAAP measures and full reconciliations for all material non-GAAP measures. Now let's jump into it. Joey?

Thank you, Mark. I do want to start by thanking Mark Schneider here, who everyone on the call knows very well because he answers every single one of your emails and phone calls probably instantly. And you all know he has an encyclopedic knowledge of IAC. He's been here, I think, as long as I have, maybe even a little bit longer. But he's always been behind the scenes. Today, he is on the screen. You can see his smiling face. So we're lucky to have Mark here. I know there's going to be a lot of important questions today, so we're going to want to get questions quickly, but I'll just quickly take stock of where we are relative to where we've been. And going into COVID, Matt and Vimeo were both still part of IAC. And they are now off on their own, doing very well, 50-something billion of value off separately. And what's left in IAC is lots of small businesses and anti-home services. And when I look across those businesses, every single one of them, I think almost every single one of them is better off coming out of COVID, I don't know if you can quite say coming out of COVID yet, but is better off today than we were going into the pandemic. And that's probably hardest to see at Angie, but we're going to talk about Angie a lot today and what we're doing and how we're building that business for the long term. That's really, I think, quite an accomplishment and quite a testament to the businesses that we have and the people that we have working here. And I'm very grateful for that group of people and what I think we can do from here. So we're excited about the future. We'd love to talk about what we're doing. And let's start it with the questions.

Great. So our first question will be from Dan Salmon at BMO.