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

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WEBVTT 00:00:00.031 -- 00:00:05.939 Hello and welcome to Zillow Group's first quarter 2025 financial 00:00:05.939 -- 00:00:11.025 results call. We ask that you please hold all questions until the 00:00:11.025 -- 00:00:16.132 completion of the formal remarks, at which time you will be given instructions 00:00:16.132 -- 00:00:18.896 for the question and answer session. 00:00:18.896 -- 00:00:23.842 Also, as a reminder, this conference is being recorded today. 00:00:23.842 -- 00:00:28.388 If you have any objections, please disconnect at this time. 00:00:28.388 -- 00:00:30.457 Brad, you may begin. 00:00:30.457 -- 00:00:35.004 Thank you, good afternoon, and welcome to Zillow Group's quarterly earnings call. 00:00:35.004 -- 00:00:40.251 Joining me today to discuss our results are Zillow Group's CEO, Jeremy Waxman, and CFO, 00:00:40.251 -- 00:00:44.477 Jeremy Hoffman. During today's call, we will make forward-looking statements about our 00:00:44.477 -- 00:00:49.604 future performance and operating plans based on current expectations and assumptions. 00:00:49.604 -- 00:00:54.291 These statements are subject to risks and uncertainties, and we encourage you to consider 00:00:54.291 -- 00:00:58.874 the risk factors described in our SEC filings for additional information. 00:00:58.874 -- 00:01:03.660 We undertake no obligation to update these statements as a result of new information 00:01:03.660 -- 00:01:06.403 or future events, except as required by law. 00:01:06.403 -- 00:01:11.028 This call is being broadcast on the internet and is accessible on our investor relations 00:01:11.028 -- 00:01:14.873 website. A recording of the call will be available later today. 00:01:14.873 -- 00:01:19.518 During the call, we will discuss gap and non-gap measures, including adjusted EBITDA, 00...