IAC Interactive Corporation (NASDAQ:IAC) Q1 2022 Earnings Conference Call May 10, 2022 8:30 AM ET

Company Participants

Joey Levin - Chief Executive Officer, IAC

Christopher Halpin - Executive Vice President, Chief Financial Officer

Oisin Hanrahan - Chief Executive Officer, Angi

Neil Vogel - Chief Executive Officer, Dotdash Meredith

Mark Schneider - Senior Vice President, Finance and Investor Relations

Conference Call Participants

Ross Sandler - Barclays

John Blackledge - Cowen

Cory Carpenter - JP Morgan

Justin Patterson - Keybanc

Jason Helfstein - Oppenheimer

Brian Fitzgerald - Wells Fargo

Eric Sheridan - Goldman Sachs

Tom Champion - Piper Sandler

Ygal Arounian - Wedbush

Brent Thill - Jefferies

Brad Erickson - RBC Capital Markets

Mark Schneider

During this presentation, we may discuss our outlook and future performance. These forward-looking statements typically may be preceded by words such as we expect, we believe, we anticipate, or similar statements. These forward-looking views are subject to risks and uncertainties and our actual results could differ materially from the views expressed today. Some of these risks have been set forth in IAC’s and Angi Inc.’s first quarter press releases and our respective filings with the SEC.

We’ll also discuss certain non-GAAP measures which, as a reminder, include adjusted EBITDA which we’ll refer today as EBITDA for simplicity during the call. Please also refer to our press releases, the AIC shareholder letter, and again to the Investor Relations section of our websites for all comparable GAAP measures and full reconciliations for all material non-GAAP measures.

Christopher Halpin

Good morning. I’m Chris Halpin, CFO of Interactive Corp, and I would like to welcome you to our first quarter earnings call. I’m joined here today by Joey Levin, CEO of IAC, by Oisin Hanrahan, CEO of Angi, and Neil Vogel, CEO of Dotdash Meredith.

With that, I will turn it over to Joey.

Joey Levin

Good morning everybody. Thank you for joining us in what is a very turbulent broader environment.

There’s a lot of talk right now around forces outside our control - inflation and war and the very volatile market. I want to focus today on forces that are inside our control, and the two biggest things impacting IAC inside our control are Dotdash Meredith, which is led by Neil Vogel, who you’ll hear from today, and Angi led by Oisin, who you’ll hear from today. I think what you’ll hear from both of them is a tremendous amount of confidence in where we are going in our business, and both are at pivotal proof points in the business. Dotdash Meredith is still new - I mean, we completed the acquisition only recently and deep in the midst of the integration, so there’s a lot to report on that front, and Angi, we’re coming off of a 15-month period where we really took on every project we could as an organization in terms of making changes to grow the business, and we have a lot to show for that and we’ll talk about that over the course of the call.