MediaAlpha, Inc.

Hello, my name is Philip, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Media Alpha Key 4 2020 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during that time, simply press star and then the number one on your telephone keypad. If you'd like to withdraw the question, press the pound key. And now we'll turn the call over to your host, Denise Garcia with Investor Relations. Please go ahead.

Thank you, Philip. Our discussion today will include forward-looking statements about our outlook for future financial results, including our financial guidance for the first quarter and the full year 2021, which are based on assumptions, forecasts, expectations, and information currently available to management. These forward-looking statements are subject to risks and uncertainties that could cause future results or events to differ materially from today's guidance. Please refer to the earnings release we filed with the SEC on Form 8K and the shareholder letter we posted to the investor relations section of our website today for a fuller explanation of those risks and uncertainties and the limits applicable to forward-looking statements. MediaAlpha will routinely post information that may be important to investors on our IR website, investors.medialpha.com, and we use this website address as a means of disclosing material information to the public in a broad, non-exclusionary manner for purposes of the SEC's regulation fair disclosure. In addition, we will be referring to certain actual and projected financial metrics of MediaAlpha, which are non-GAAP financial measures. These metrics include adjusted EBITDA, contribution, and contribution margin, and we present them in order to supplement your understanding and assessment of our financial performance. Non-GAAP measures should not be considered a substitute for or superior to financial measures calculated in accordance with GAAP. The most directly comparable GAAP measures, as well as reconciliations of the non-GAAP measures to those GAAP measures, are available in our fourth quarter earnings release. As a reminder, we published a shareholder letter on our IR website that we'll refer to during this Q&A session. Now I'll turn the call over to Steve.

Thanks, Denise. Hi, everyone. As you saw in our shareholder letter, we're pleased with our fourth quarter and overall 2020 results, and we anticipate a strong 2021. We're looking forward to discussing our most recent results with you, so we'll open the call to questions now.