Zillow Group, Inc. (Z) Q2 2026 Earnings Call

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WEBVTT 00:00:01.674 -- 00:00:07.439 Hello and welcome to Zillow Group's second quarter 2026 financial results call. 00:00:07.439 -- 00:00:12.144 We ask that you please hold all questions until the completion of the formal remarks, 00:00:12.144 -- 00:00:16.688 at which time you will be given instructions for the question and answer session. 00:00:16.688 -- 00:00:21.032 Also, as a reminder, this conference is being recorded today. 00:00:21.032 -- 00:00:24.575 If you have any objections, please disconnect at this time. 00:00:24.575 -- 00:00:27.324 Brad, you may begin. 00:00:27.324 -- 00:00:31.726 Thank you. Good afternoon, and welcome to Zillow Group's quarterly earnings call. 00:00:31.726 -- 00:00:36.788 Joining me today to discuss our results are Zillow Group's CEO, Jeremy Wacksman, as well 00:00:36.788 -- 00:00:41.850 as COO and CFO, Jeremy Hofmann. During today's call, we will make 00:00:41.850 -- 00:00:45.992 forward-looking statements about our future performance and operating plans based on 00:00:45.992 -- 00:00:51.354 current expectations and assumptions. These statements are subject to risks and uncertainties, 00:00:51.354 -- 00:00:55.996 and we encourage you to consider the risk factors described in our SEC filings for additional 00:00:55.996 -- 00:00:59.693 information. Thank you. Thank you. 00:01:19.953 -- 00:01:24.957 During the call, we will discuss GAAP and non-GAAP measures, including adjusted net income, 00:01:24.957 -- 00:01:29.920 diluted adjusted net income per share, adjusted EBITDA, which we refer to as EBITDA, 00:01:29.920 -- 00:01:33.743 and adjusted free cash flow, which we refer to as free cash flow. 00:01:33.743 -- 00:01:37.746 We encourage you to read our shareholder letter and earnings release, which can be found 00:01:37.746 -- 00:01:42.309...