Cars.com Inc.

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Good morning, ladies and gentlemen, and welcome to the CARS fourth quarter and fiscal year 2025 earnings conference call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, February 26, 2026. I would now like to turn the conference over to Catherine Chen, Vice President of Investor Relations. Please go ahead.

Good morning, everyone, and thank you for joining us. It's my pleasure to welcome you to the CARS.com, Inc. Fourth Quarter and Full Year 2025 Conference Call. With me this morning are Toby Hartman, CEO, and Sonia Jane, CFO, who will share business highlights and our financial results and outlook. We'll finish the call with Q&A. Before I turn the call over to Toby, I'd like to draw your attention to our forward-looking statements and the description and definition of non-GAAP financial measures, which can be found in our presentation. We'll be discussing certain non-GAAP financial measures today, including adjusted EBITDA, adjusted EBITDA margin, adjusted operating expenses, adjusted net income, and free cash flow. Reconciliations of these non-GAAP financial measures to the most directly comparable gap measures can be found in the financial tables included with our earnings press release and in the appendix of our presentation. Any forward-looking statements are subject to risks and uncertainties. For more information, please refer to the risk factors included in our SEC filings, including those in our most recently filed 10-K, which is available on the IR section of our website. We assume no obligation to update any forward-looking statements. And now, I'll turn the call over to Toby.