Thanks, Jeremy.
year. and sales headcount our to by retention multi-location improve growth stronger of us our evolution self-serve continue will the our of shifts the allow the us in model XXXX, our to the you revenue the years local noted, around reduce business enabled strategy profitable the now of profitability Investor revenue have and and to will growth, first XX% been We In the business channels detail investor in from economics and our believe to on growth and half while Relations accelerating initiatives. second has significant website, to mix improved As Jeremy drivers the presentation, find more ahead. our
moment that presentation. three XX greater on of Slide take the shown I a drivers path to to would to outline like of profitability our
and we evolving, sales headcount adding expect increasing our growth margin is from profile most on channels, away self-serve, By revenue mix improve. First, growth. dependence profitable our sales channel to multi-location to our drive in
line coming there to of benefiting retention a we to to plan the look our is to by ahead. XXXX from drive bottom opportunity significant this time executed investments Second, in will over year to and improving retention existing our so and offerings advertisers improvements. in believe successfully We percentage grow revenue initiative our greater do new customers. delivering We revenue value and from in greater again
margin and base opportunities are few we next corporate for leverage years. continuing look footprint over expense to Third, see and the location our at closely strategic
recurring to significant we of portions and expenses. our from XXXX, sales footprint reducing Francisco some office reduced our In in San G&A Phoenix operating our greatly San relocated organizations Francisco
our into in pool reducing San expanding reliance talent, now strong are high Francisco cost on area. a of Toronto We footprint while engineering to our technical the tap Bay
to XXXX our to reaching achieved target. in sales retention and expense gains the help and mix shift, growth we profitable discipline expect We us XXXX again closer in bring drive long-term
growth return since through focused outstanding our and capital helped program a revenue in XX% robust, place shares. on margin XXXX reduction Beyond in our allocation. to XXXX, capital expansion, prudent had repurchase in value We’ve we multiyear a and share are program providing drive shareholders
share authorized board the in a since program, bringing noted, Jeremy nearly to repurchase our $X As January, increase XXXX. billion in million authorized total $XXX our
supporting We capital the allocate objectives increasing value. with strategy shareholder will and continue our to two wisely
the billion for our advertising was product exiting fourth X% non-term business double-digit year year will results the turn from outlook growing financial seasonality than to below net Revenue revenue was expected December and reduce year-over-year slightly of I owing greater of for Now, our fourth to growth XXXX. full the local XXXX. of advertisers In as the quarter. took the our XX% during surpassed our up flexibility holidays. million, This XXXX, opting advantage in the to and fourth $XXX $X quarter quarter in outlook spending the of with December
operational in getting acquisition strong budget and this since January, advertising. off non-term XXXX. both we selling non-term start we activity a strongest advertiser signals reversed in seasonal which for suggest month our began However, retention are to These was
adjusted in higher release our XXXX the to compared of point of in the Net in the $XX income percentage of of margin grew million million $XX fourth reflecting driving fourth due incremental $XX quarter to increased to an EBITDA million Adjusted of EBITDA XXXX allowance of was the increase margin XX% XX%. taxes the fourth fourth quarter fourth XXXX, XXXX, the to Adjusted quarter fourth quarter of strong the XXXX of quarter of XXXX. XXXX. in quarter quarter the or fourth in $X to compared million X in a EBITDA valuation of income XX%
to XX%. EBITDA from year full XX% adjusted the For XXXX, margin improved
expand in Turning XXXX. revenue to margins and our outlook, accelerate we expect to growth again
to XX% over XXXX, to Specifically, adjusted over we X to net grow increasing with X XX% points by XXXX. expect revenue EBITDA percentage
channels the planned leverage expense our to anticipate growth continuing X% pattern the quarter progress years year of towards the quarter. we retention For in and slight year second than driven sales margin ago quarter revenue are in the of force of start appropriately as to improvements, with to We begin expect development multi-location making to the The fourth seasonal adjusted points product of approximately XXXX, profitable XXXX deceleration QX by the the flat funding of of line a invest revenue more the percentage half to In our forward lower well net as initiatives. self-serve growth quarter product and we investments improvements outlook model. year. looking X at faster we summary, growth EBITDA in as target leverage headcount past first in recent long-term over and another on compared reflects to are be top the to top first of a our XX% productivity come year the
for that, open with up we operator, will the now And call questions.
