Zillow Group, Inc. (Z) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to Zillow Group's first quarter 2025 financial results call. We ask that you please hold all questions until the completion of the formal remarks, at which time you will be given instructions for the question and answer session. Also, as a reminder, this conference is being recorded today. If you have any objections, please disconnect at this time. Brad, you may begin. Thank you, good afternoon, and welcome to Zillow Group's quarterly earnings call. Joining me today to discuss our results are Zillow Group's CEO, Jeremy Waxman, and CFO, Jeremy Hoffman. During today's call, we will make forward-looking statements about our future performance and operating plans based on current expectations and assumptions. These statements are subject to risks and uncertainties, and we encourage you to consider the risk factors described in our SEC filings for additional information. We undertake no obligation to update these statements as a result of new information or future events, except as required by law. This call is being broadcast on the internet and is accessible on our investor relations website. A recording of the call will be available later today. During the call, we will discuss gap and non-gap measures, including adjusted EBITDA, which we refer to as EBITDA. We encourage you to read our shareholder letter and earnings release, both of which can be found on our investor relations website, as they contain important information about our gap and non-gap results, including reconciliations of historical non-gap financial measures. We will open the call with remarks, followed by live Q&A. And with that, I will now turn the call over to Jeremy Waxman. Thank you, Brad, and good afternoon, everyone. Thank you for joining us today. It's been another excellent q...