Nextdoor Holdings, Inc. (NYSE:KIND) Q1 2024 Results Conference Call May 7, 2024 5:00 PM ET

Company Participants

John Williams - Head-Investor Relations
Nirav Tolia - Executive Chair and Incoming Chief Executive Officer
Matt Anderson - Chief Financial Officer

Conference Call Participants

Stan Velikov - Wells Fargo

Operator

Hello, and welcome to the Nextdoor Q1 2024 Earnings Call. My name is Carie, and I'll be the conference operator for today. All lines have been placed on mute to avoid any background noise. [Operator Instructions]

I would now hand the call over to John T. Williams, Head of Investor Relations to begin.

John Williams

Thank you, operator. I'm John T. Williams, Head of Investor Relations. Good afternoon, and thank you for joining us to review Nextdoor's first quarter 2024 financial results. With us on the call today are Nirav Tolia, Executive Chair and Incoming Chief Executive Officer; and Matt Anderson, Chief Financial Officer.

During this call, we may make statements related to our business that are forward-looking statements under federal securities laws. These statements are not guarantees of future performance. They are subject to a variety of risks and uncertainties. Our actual results could differ materially from expectations reflected in any forward-looking statements.

For a discussion of the material risks and other important factors that could affect our actual results, please refer to our SEC filings available on the SEC's website and in the Investor Relations section of our website, as well as the risks and other important factors discussed in today's earnings release. Additionally, non-GAAP financial measures will be discussed on today's conference call. A reconciliation of these measures to their most directly comparable GAAP financial measures can be found in the Q1 2024 shareholder letter released today.

With that, I'd like to turn the call over to Nirav.

Nirav Tolia

Thank you, John T, and good afternoon, everyone. It is an honor to reconnect with you as Nextdoor’s CEO. Today, I have the same feelings of excitement and possibility as I did when we created this company 14 years ago. Nextdoor has certainly grown a lot since then, but I'm confident that our best times are ahead. We had a productive Q1, but before I get into those details, I'd like to briefly discuss how we're thinking philosophically and practically about taking Nextdoor to the next level.

In Silicon Valley, there's a commonly held belief that companies benefit when their founders return. I believe this is due to the value of the founder's mentality. A phenomenon explored by Bain Partners, Chris Zu and James Allen in their book of the same name. They argue that founders possess a set of attitudes and behaviors that is one of the most undervalued secrets of business success. This is the mindset that we plan to instill in Nextdoor.