LendingTree, Inc.

Good afternoon, ladies and gentlemen, and welcome to the LendingTree, Inc. fourth quarter conference call. At this time, all participants are on a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. If anyone should require assistance during the conference call, please press star, then zero on your touchtone phone. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Trent Ziegler. VP of Investor Relations, please go ahead.

Great, thank you. And thanks to everybody for joining the call this morning to discuss LendingTree's fourth quarter 2020 financial results. On the call with me this morning are Doug Levda, LendingTree's chairman and CEO, and J.D. Moriarty, chief financial officer. As a reminder, once again, we posted a detailed letter to shareholders on our Investor Relations website. earlier this morning, and with that, we will keep our prepared remarks relatively brief and spend the bulk of our time addressing your questions. Before I hand the call over, I also want to remind everyone that during today's call, we may discuss LendingTree's expectations for future performance. Any forward-looking statements are subject to risk and uncertainties, and LendingTree's actual results could differ materially from the views expressed today. Many but not all of the risks we face are described in LendingTree's periodic reports filed with the SEC. We will also discuss a variety of non-GAAP measures on the call today, and I refer you to today's press release and shareholder letter, both available on our website at investors.lendingtree.com for the comparable GAAP measures, definitions, and full reconciliations of non-GAAP measures to GAAP. And with that, I will turn it to Doug.

Thanks, Trent, and thank you, everyone, for joining our call. Before we get into questions, I'd like to spend a few minutes giving you my perspective on the business and a few of the reasons why I'm increasingly encouraged by our prospects as we've successfully navigated the challenges of the past year and we enter 2021 with positive momentum and clear focus on our strategic priorities. 2020 was a year unlike any other. The pandemic wrought havoc on public health and safety. It brought massive unemployment and economic strain, in part countered by unprecedented fiscal and monetary policy. While we've seen far-reaching changes in the way people live, work, consume, and manage their money, the past has also prevented many challenges, and it has created great opportunity. Despite headwinds in certain continuous areas or aspects of our business in 2020, we were able to maintain a healthy and productive workforce along with a strong balance sheet, sustained positive cash flows, thanks to our diversified portfolio of businesses. Because of that, we were able to remain focused on execution, serving our customers and our partners without losing sight of our broader strategic objectives around innovation and scale. Our fourth quarter's results reflect increasing momentum, at strength in our home and insurance segments combined with sustained recovery in consumer through its sequential growth in both revenue and adjusted EBITDA during what is typically a seasonally slower quarter. As we head into 2021 and the world begins to return to normal, as we all hope, we are focused on a broad range of strategic objectives across each and every one of our business segments that all serve to accomplish the greater objective of growing, engaging, and delighting our customers while serving our partners in a more integrated and automated fashion. We look forward to highlighting those initiatives and our continued momentum as the year unfolds. And with that, we'd love to take your questions.