IAC Inc.

Welcome to the IAC and Angie fourth quarter earnings presentations. I'm Christopher Halpin, CFO of IAC. Joining me today are Joey Levin, CEO of IAC and Chairman of Angie, O'Sheen Hanaran, CEO of Angie Inc., and Neil Vogel, CEO of DotDash Meredith. Similar to last quarter, supplemental to our quarterly earnings release, 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 IEC'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 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 IAC and Angie's fourth 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 will refer to today as EBITDA for simplicity during the 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. With that, I will turn it over to Joey.

Morning, everybody. Thank you for joining us. I just realized a few moments ago that we were courteous enough to have Chris introduce himself for the first time as a participant on the IAC earnings call. I think we could have staged that better, I realize. But I am nonetheless incredibly thrilled and relieved to have Chris here in the role of CFO. Chris has been here, I think, I don't know, a few weeks so far and already presented digging in in really incredible ways, challenging assumptions, doing all the things that we would have hoped of a CFO. And I think he's going to be a tremendous, excellent addition to the team. And we're thrilled to have him here for the first time. Hopefully you guys will take it easy on him because he is still only a few weeks in, but he's been doing a lot of studying and learning. So it seems like a quick study. Also, of course, Neil is here, but for the first time in officially a much larger role, and so I'm sure you'll have a lot of questions about that. And Ashin, as Chris mentioned, is here, and most of you know Ashin by now. He's done several calls, but I'll just Mention Ashene again for the opportunity to pronounce his name, and hopefully you'll all get the opportunity to learn it if I keep pronouncing it. So welcome, Ashene again. Rhymes with machine. Very quickly, 2021 was a good year, a year of a lot of change for IAC, for many of our businesses. Think about where we started the year with Vimeo versus where we ended the year with DotDash Meredith. where we started the year as a home advisor, Angie's List, and ended the year as Angie. And so 2022, we have the pieces in place to start to execute on growth across a number of businesses. And we plan to continue to invest throughout the year and really build from here. And I like the tools in our hands for building. And that's what we intend to keep doing. So let's get your questions. Mark. Oh, and also, by the way, thank you to Mark Snyder, who's not on camera today, but he was nice enough nonetheless to wear a tie here with us in the background. And he'll be orchestrating this as usual.

Thanks, Joey. Our first question will be from John Blackledge at Cowan.