IAC Inc.

Good day and welcome to the IAC and Angie second quarter 2024 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to hand the call to Christopher Halpin, Chief Financial Officer and COO of AIC. Please go ahead.

Thank you. Good morning, everyone. Christopher Halpin here, and welcome to the IAC and Angie Inc. Second Quarter Earnings Call. Joining me today is Joey Levin, CEO of IAC and Chairman of Angie Inc., and Jeff Kipp, CEO of Angie Inc. Similar to last quarter, supplemental to our quarterly earnings releases, IAC has also published its quarterly shareholder letter, which is currently available on the investor relations section of IAC's website. We will not be reading the shareholder letter on this call. I will shortly turn the call over to Joey to make a few brief introductory remarks, and we'll then 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's and Angie Inc.' 's second quarter earnings 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 earnings releases, the IAC shareholder letter, our public filings with the SEC, and again, to the investor relations section of our respective websites for all comparable GAAP measures and full reconciliations for all material non-GAAP measures. With that, I will now turn it over to Joey. Thank you all for joining us this morning.

Special thank you again, as always, to the incredibly brilliant and resilient IAC team. Any of you who are on this call today, we are incredibly grateful for the work that everyone's been doing here. This is a team of fighters. grinders, builders, and that's what we saw come through not just really this quarter but for the last 18 months is a team that figures out how to make things work and deliver for our customers. At DDM, we've been incredibly focused on delivering for viewers to give them a compelling customer experience and converting for advertisers, and we have not been distracted from those focuses, and now that's really working and helping to gain share. And we really have the same story at Angie. The focus on jobs done well there to make pros and homeowners happy has been the focus, and over time that's going to show through in a business that can grow and win share in its category. And same true for businesses that we are minority owners of. Bill Hornbuckle at MGM and Andre Haddad at Turo are totally customer obsessed and we're incredibly grateful to be associated with those businesses right now. IAC had, I think, a great quarter this past quarter, and we're feeling some good momentum looking forward, and so we'd love to talk about that with all of you. Let's get your questions.