Yelp Inc. (NYSE:YELP) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET

Company Participants

James Miln - Senior Vice President, Finance and Investor Relations

Jeremy Stoppelman - Chief Executive Officer

David Schwarzbach - Chief Financial Officer

Jed Nachman - Chief Operating Officer

Conference Call Participants

Jason Kreyer - Craig-Hallum

Eric Sheridan - Goldman Sachs

Cory Carpenter - J.P. Morgan

Sergio Segura - KeyBanc Capital Markets

Shweta Khajuria - Evercore ISI

Stan Velikov - Wells Fargo

Operator

Hello, and welcome to the Yelp Third Quarter 2023 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

I'll now turn the conference over to James Miln, Senior Vice President, Finance and Investor Relations. Please go ahead.

James Miln

Good afternoon everyone, and thanks for joining us on Yelp's third 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 Web site 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, adjusted EBITDA margin, and free cash flow, 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 and our filings with the SEC, each of which is posted on our Web site, 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 historical reconciliation of GAAP to cash flows from operating activities to free cash flow.