LendingTree, Inc.

Good day and thank you for standing by. Welcome to the lending training fourth quarter 2021 earnings conference call. At this time all participants are in a listen only mode. After the speaker's presentation there will be a question and answer session. To ask a question during the session you will need to press star one on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance please press star zero. I would now like to hand the conference over to your speaker today, Andrew Wessel, Vice President of Investor Relations. Please go ahead.

Thanks, Dawn, and good morning to everyone joining us on the call this morning to discuss LendingTree's fourth quarter 2021 financial results. On the call today are Doug Lebda, LendingTree's Chairman and CEO, J.D. Moriarty, President of Marketplace and COO, and Trent Ziegler, CFO. As a reminder to everyone, we posted a detailed letter to shareholders on our investor relations website earlier today, and for purposes of today's call, we will assume that listeners have already read that letter and will focus on Q&A. Before I hand the call over to Doug to give his remarks, I want to remind everyone that during today's call, we may discuss LendingTree's expectations for future performance. Any forward-looking statements that we make are subject to risks 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 our 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 definitions and full reconciliations of non-GAAP measures to GAAP. And with that, Doug, please go ahead.

Thanks, Andrew, and thank all of you who are joining us today. Following our recent Investor Day event, I'm going to forego some of the normal quarterly items and focus my comments on how we are positioning the company to become the ultimate consumer champion in the financial services space. The strategy process we completed in the second half of last year was a deeply meaningful exercise for LendingTree. We engaged employees from all levels of management across the organization and the feedback from our team was clear. We want to create fantastic customer experiences that build trusted and lasting relationships with our customers throughout their financial lives. The fintech space has created a multitude of digitally enabled lenders and insurers. Established companies have responded with increased investment in digital fulfillment channels to defend their market share. Consumers clearly enjoy the convenience that these advances have generated. The ability to take care of all their personal financial needs digitally has been well received, and the adoption curve has been swift. But the market lacks a shopping experience to differentiate between the ever-increasing number of financial products offered. There is no trusted digital advisor that leads with choice and best pricing for the consumer across the entire range of financial products in one easy to use experience as we execute on our strategy we are well positioned to continue our leadership in the consumer finance space we are harnessing the incredible power of our brand with its consistently high levels of aided awareness and combining it with our unmatched depth of partner relationships to be the ultimate resource for consumers wanting to take control of their financial lives. This is the next iteration of LendingTree, but it remains firmly rooted in the core reasons I founded the company 25 years ago. In that time, we've helped over 100 million customers shop and compare financial products, and have facilitated billions in funded loans. Yet we believe this is just the beginning. We're building on our legacy, strengthening our roots, and investing for growth. We are energized by the path we have ahead of us, and 2022 will be a critical year as we execute on this vision. I look forward to sharing our progress with you in the coming quarters. Now, operator, we're happy to open it for questions.