Yelp Inc. (NYSE:YELP) Q1 2023 Results Conference Call May 4, 2023 5:00 PM ET

Company Participants

James Miln - SVP, Finance and IR

Jeremy Stoppelman - CEO

David Schwarzbach - CFO

Jed Nachman - COO

Conference Call Participants

Colin Sebastian - Baird

Sergio Segura - KeyBanc Capital Markets

Justin Patterson - KeyBanc Capital Markets

Operator

Hello and welcome to the Yelp First Quarter 2023 Earnings Conference Call. My name is Elliot and I’ll be your coordinating your call today. [Operator Instructions]

I’d now like to hand to Mr. James Miln, SVP of Finance and Investor Relations. The floor is yours. Please go ahead.

James Miln

Good afternoon, everyone, and thanks for joining us on Yelp’s first quarter 2023 earnings conference call.

Joining me today are Yelp’s Chief Executive Officer, Jeremy Stoppelman; Chief Financial Officer; David Schwarzbach; and Chief Operating Officer, Jed Nachman.

We published the shareholder letter on our Investor Relations website and with the SEC and hope everyone had a chance to read it. We’ll provide some brief opening comments and then turn to your questions.

Now, I’ll read our safe harbor statement. We’ll make certain statements today that are forward-looking and involve a number of risks and uncertainties that could cause actual results to differ materially. Please note that these forward-looking statements reflect our opinions only as of the date of this call, and we undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events.

In addition, we are subject to a number of risks that may significantly impact our business and financial results. Please refer to our SEC filings, as well as our shareholder letter for a more detailed description of the risk factors that may affect our results.

During our call today, we’ll discuss adjusted EBITDA and adjusted EBITDA margin which are non-GAAP financial measures. These measures should not be considered in isolation from or as a substitute for financial information prepared in accordance with Generally Accepted Accounting Principles.

In our shareholder letter released this afternoon on our filings with the SEC, each of which is posted on our website, you will find additional disclosures regarding these non-GAAP financial measures, as well as historical reconciliations of GAAP net income to both adjusted EBITDA and adjusted EBITDA margin.

And with that, I will turn the call over to Jeremy.

Jeremy Stoppelman

Thanks, James and welcome everyone.