Angi (ANGI) 8 Nov 232023 Q3 Earnings call transcript

Company Profile

Participants

Christopher Halpin	executive
Joseph Levin	executive
Jason Helfstein	analyst
Brent Thill	analyst
John Blackledge	analyst
Justin Patterson	analyst
Ross Sandler	analyst
Brian Fitzgerald	analyst
Ygal Arounian	analyst
Thomas Champion	analyst
Kunal Madhukar	analyst

Call transcript

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning, and welcome to the IAC and Angi Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded today. I would now like to turn the conference over to Christopher Halpin, CFO and COO of IAC. Please go ahead.

Christopher Halpin

Thank you. everyone. morning, Good and here, the and IAC Christopher welcome Inc. Angi Halpin to

Call. Earnings Quarter Third

Joey Joining Angi Chairman and me Inc. Levin, of today is CEO IAC and CEO of

Similar website. is currently earnings on the our published to section quarterly available supplemental of Relations has IAC's its which IAC also quarterly letter, shareholder Investor last quarter, releases, to

make will the call over We will shareholder the turn reading brief letter on remarks. Joey shortly to a not be this few introductory call. I to

Q&A. will open then up to We it

to like performance. our be I'd could expressed uncertainties the and you are statements we during get anticipate believe, remind actual we discuss differ our Before materially and expect, from may may this that, we views as subject or outlook that to to preceded words typically today. views presentation, results These such similar risks we we forward-looking by statements. future and forward-looking These

in quarter filings Some SEC. set been ANGI forth of respective our and and third risks these with releases IAC's Inc.'s have the earnings

with Relations IAC and websites We'll public simplicity adjusted and our for filings EBITDA, the measures. for all the our Investor also reconciliations SEC full shareholder all to refer comparable releases, a section reminder, I'll letter, EBITDA we'll as again, measures, include non-GAAP respective earnings to today the refer discuss you our which call. also to measures as of the during for which, GAAP material non-GAAP certain

Joey. to over it turn I'll Now

Joseph Levin

that momentum we that able everybody. lot Thanks bottom growing have be great the Good have keep spending again Thank to Angi think going. both to profit the happening this at of And morning, you, and Nice I a line. businesses work with Meredith should Chris. for time us Dotdash morning. on

platform. on and because our momentum the with our starts Hollywood investing right good Dotdash, At now content we're a even and with in those trends lot strike audience are really

and e-commerce We growing ad capabilities. product have sell high-performing audience, and unique, to industry-leading an attractive a

of the the through cost and should decent I on If in next ad year, we're we rest we've market think into all their year the help of customers our have a more happy. flow means over work And professionals done happier. and the shape. more side lifetime, great At we're making more Angi, making are which those retaining The spending homeowners they're paying dollars longer service through.

base. We don't better experience, maximum And believe is margin. even that profitability right existing we our you our reached showing yet priority or means that biggest up can isn't we're think see delivering we've in profitability overall a really which in business. our we're and professional we're on profitability biggest I each earn priority, transaction our Profitability and more that only now, the we're because our how service and means is of today, way on looking happens up platform, which things But it the well valuable. optimized which homeowner is at one more it better customer making line experience, matches with our the to learning makes

for lifting on When our for homeowners. customer and we more we're satisfaction pros rates matches lifting win we're making we're think platform,

P&L, but thinking here flow the do that cash category. customer isn't win all I we're believe And So experience. in they that's we're this we to patience how how optimize easy, it, more may the term, not optimization taking steps but prioritize we're going yet generating we're and know the for long about meantime.

Turo we've businesses. plenty to excellent grateful part lot But to in my MGM now. and in discuss today. shape throughout and a those work are, We've IAC of be got with we're leadership, exceptional opinion, got to a right with

So let's to get operator. questions,

Operator

Oppenheimer. from take Jason [Operator Helfstein Instructions] question, At which this come time, we first our with will will

Jason Helfstein

X-part of one question. kind So

of of us kind full being year that How the the in some low the understand, help end much respect of to So cases, prior for to can you with guide range. the to revenue related? So as and outlook? us you're with versus color Meredith is some respect can just Dotdash, revenue margin seeing Angi give particularly far if where the you as related

is And are I et environment we Angi you pressure with comes suffering homeowners -- and from next how business come If impact to then housing transaction about side? of get back imagine an particular year, et into do housing and would and down as the given volume. the secondly, where in discretionary as that volume think where the rates rates half the that of maybe on with cetera, borrowing up, Angi, on costs, lack cetera, well

Joseph Levin

I happening And proactive make improvements there. actions And homeowner talked question. experience, our improving macro, of that's we've a more the customer Sure. on Thanks, hit a revenue. it But the taken to And Jason. about of lot our hand experience, experience. the and quality still happening we've what's does we're Maybe our today I'll pro do our continuing on that market out us. take that business than much guidance is overall, to the Angi to think the Chris let is

for business have times. it's our in need that estimates active side so real are But in movement taken us think And a more in think market, per demand pros probably market, down the good probably busier of a that XX% flip that us, that work from is was closer of transact transaction, the $XX,XXX, think, range. that touch. homes generally industry. a down our now, I to changes home we're in the beginning when overall maybe to not that active the you or our The probably -- the I in up think happens market of is lot estimate about side may estate down. making, housing was flat market business. I are And year, so those pros creates less to and obviously, a the to the X% The

flip up scenarios. platform we've is hedge so -- doing those on about the side more business natural demand be that And pros and talked they're goes are less our of to if where in kind homeowner work, eager our in

have one up down, any reasonably anticipating we're that up market, to in anticipating we're of those the the meaningful we one the or regardless I we profitability think We and kind side, of is in is that But think on guiding We revenue actions what's business. scenarios. that of are we it positioned down. or are taking either most those business room well on that in handle either think the But scenario. proactive expand to revenue not movement happening not in

Christopher Halpin

Yes.

we've Just our to a are of of to $XXX low elements end million there. feel of that. tightened where guide $XXX EBITDA We couple we did We the last just quarter. range million on

proactive lead quality. to softness improve Joey As actions taken driven said, revenue it's the overwhelmingly by from

were have seeing had the initially come back happen. term ramped also that in is more those impact and slowly of larger anticipated, but channels than reduced, factor the of we Some bigger a the few they were short anticipated. that than up we're are Probably fully will a confident

a relative is actions Angi, to the -- it your of impacts question. So for relatively the on margin short-term -- it's degradation taken, nothing

market driven we started softness in Meredith, strike a expected had The the in story bigger and much this We a we our for been the as we environment -- confluence the lack That pulled our totally We entertainment Dotdash. froze really, due really QX to the quarter in softness when macro. market up. predominantly letter of with QX and to more the holiday clear last Hollywood. guided right factors, some last of August, year down anticipated QX now pretty that by solid For activity for in to than QX bit. advertising a is just in season, results it's in traffic that some call in year began sites. see and last

strengthening a publishers platforms, by bit steadily demand a war, in premium reversed for concerns, rates, programmatic cetera. seen but pricing to in October, We've clearly similar of number macro that higher and other et and QX, driven

it's been So in some so an environment. lost better but have momentum. still uncertain we far Trends November,

that's a mildly expecting better from advertising. on macro So a we're perspective only season holiday

is You goes about But about we bottom talked that the incremental will the drives the letter if growth advertising revenue margins. XX% versus That lower, in in talk side, year-over-year I've to and flip EBITDA. plan, on -- line. talked

continue feel where slowdown. -- going major far so and October, to it. Marketing relative and then that what and about to be have November a Performance we I are. we're better Things we to absent consumer in we was a monitor slowdown to apace, expect to been So in But good continues continue strong, guess, broader

Operator

Our next question will come from Brent Thill with Jefferies.

Brent Thill

in buyback, talked utilizing about the the You left. Angi million shares X.X

behind IAC QX. didn't you repurchasing Angi stock about You buy rationale the IAC? versus an just talk Can in

Joseph Levin

Sure.

correction, Brent, at Angi, I but Angi shares are Just it's million one straightforward. in authorization. the think, purchases relatively The XX

to dilution think the not volume do of things or offset dilution will there. potential there. want is there's be ton I -- a But of one it we

as to if helps up buying, of we're attractive. back the view we buying And so And that. it accomplish course, authorization

far it It's year. we we to million bought this something look, consider. so $XXX we that relates have always As IAC, considered, of worth IAC

we its and of And we we where last think out. saw magnitude, pause that to this and continue think in to will terms evaluate. which quarter a settle see to I Angi the quarter, we reaction surprised when even took that's us wanted look I things something

Brent Thill

on double to take to accelerated get from X%. do to growth you care X% to the quickly going think and it's And digit? back What

Joseph Levin

Yes.

have CEO, quarter. that around potentially. product probably the in about So predominantly double-digit We're side. of of few challenges quarter, it the about be should to marketing and quarters. We in both opportunity in had has Wilson, and bit still we've reigniting That's conversion, we've the growth. enterprise then team care we going the slowdown happened, a And on macro consistent believe by a consumer in. be brought really a and believe talked and for consumer the the he's It's that consistently last management especially opportunities there been driven got grower. third the solid little the Brad market But excited position slowdown there really on

it's going. are on platform still and So improvement the the Enterprise be consumer-driven. repositioning we marketing is -- to solid. working We and across are they we'll think 'XX, see steady going getting

robust, not be continue their expand backup and aggressively going willing add market. going be You demand they to have as sensitive to accounts see that albeit corporate to can spend might But price that to for employees or more the you're broadly they're as pandemic. care for during is

looking what forward driving, really XXXX. we're are So and to We're Brad team about basic and it's and excited blocking tackling.

Operator

next Our with from come Blackledge John TD Cowen. will question

John Blackledge

Great. and in of on plays going including is your about talk maybe forward? October? On Could new kind Digital, And core metrics, properties. in in what how that growth quarter of sessions third engagement revenue trend kind saw you core of XQ sessions, the key the which you DDM into you provided engagement bulk and

Joseph Levin

have a letter, Yes. the and is we brands mentioned where in I'll value we're where the that but strong perpetual start, this again, investment think which the core putting and are we strength. brand is,

so And continued in nicer. -- improve right those that's is seeing seeing what lot accelerated and grow in there's is QX growth those we to that's now. news that that in talked and October. nice trend And a of -- happened even includes notwithstanding entertainment not that entertainment, so The about

an be. that's exciting so to And place

Christopher Halpin

Yes.

Just we're the spread noncore the and where that XX investing not is that key is which in of sales historically were we It really weaker to that sessions versus the traffic, investments the thing total acquired in to add well highlight total for behind for whole One the investors The Joey part as context. decline advertising the comprises sites core. the as flagged, in tail deal. brands thought business. we prioritizing were did of what for or Dotdash long Meredith the portfolio third-party drove behind. information core, good sites Meredith This as is growth actively the the is sessions we difference, drivers said,

point. minimis So in we to core sites the probably to de will the a be continue at noncore same some total level those so expect to attrit

core trends, continue. in total a represented only just quarter For under sessions sessions total are this third and XX% sense the quarter and of that of properties will XX% of the of those 'XX past

story and tailwind, core sites Joey to their to -- a as those have the key Hope that entertainment business. of said, expect via So growth. it's is a continue we

John Blackledge

more Great. Digital. question DDM I one on ask could If

out in Revenue XQ. Marketing. called guys growth You the accelerated to Performance XX% year-over-year

and that of kind strong what of were drivers drove acceleration? Just Any the that part on of that color were business? verticals that

Christopher Halpin

integration expertise that out to modern tremendous properties. the Yes. buying has extensively integrations and of through on year the e-commerce underpunched the content. its the execution talked bringing Dotdash's delays the last we that those of Meredith integrations And in and Meredith, thesis was some definitely acquiring It's of Meredith core content by of to Dotdash e-commerce really really -- which pushed traffic but a journey brands, continued weight

performance XX% them past growth from categories, you that goods quarter is buying to had see commerce. to products is XX% going and steady Across overwhelmingly the in flat we've overall But that. this up year Consumers this can marketing. this driving

We strength to big we're think integrating biggest have of relationships all from many And we the those we're We of the move and we while, folks driving. retailers. we Performance where And those. partner going strength with we're second including season expect of into holiday think positive there. Marketing session. that the monetization be about where for will tailwind to key per And a excited to be a derivative integrations with this

Joseph Levin

able move only be we want that in is performance to great advertisers want and something to shift be where this and have environment the thing tools spend, to I'd especially And that. add inventory is to marketing, great and to

trend. that so overall think And we're I capturing

Operator

Justin question will from KeyBanc. with next come Our Patterson

Justin Patterson

could hoping out on area and experience. It's lot just was elaborate still where homeowners' the the to chop. there's service one work the letter wood experience ahead called that to I you provider a both the Great. as improve in of

Joseph Levin

Yes.

So done It here. service again about is -- talked -- want some highlight retention to is lot. just provider that's a of work I the been we experience

engaged, on pricing pros that last some and they happier they they're We and with that, improved measure the we're in they're And this happening, talked coming we it, times, and pros in this can anecdotally, of platform, to also, quarter about continue debt, improvement better interactions in improved measure homeowners when means us having are we've when And more better improvements things are can quality. on to -- meaningful tone, improved means I ROI that more professionals meaningfully. the presume And value have, those getting meaningful than I said a which professionals service engaged. but happier. the would our think, extent, I platform. which to service our happier, and see multiple as lifetime because raise we've make And bad

is The service professional. improved comes with, a mobile professionals, match for the important. those that things And We've service key their up messaging, fundamental more all have of cliff and the now. funnel example, we for increases -- of But a to the with huge really and very more of service a professional homeowner a whether what parity. the with match match We're platform messaging. on yet. improve hiring they connecting increases And than That the of a professional. with they of is yet odds still a odds lot messaging professional right element transaction those towards in the driven brought our at more heavily their to service and to to is of web seeing point that then launched fundamentally have each levels and tools we there we improved not haven't service

helpful. receive phone historically. calls, Pros they than homeowners That's eager less our That's to good. are Still, phone on between to been have and calls like but relies heavily homeowners telephone. pros the interaction receive

And that still people and started an back message so area have getting to platform, where getting improve. forth and I our think, on room to we is

at we're that match and we're are platform. both homeowners acquisition to Also, economics sure looking and more acquiring likely Pros on making our that

while. which at all a been for doing And a look so of channels, our we've we're marketing taking

profit But demand demand of unprofitable was channels talked out channels. existing existing now our demand out customer our channels, was and just about that better out can of of at more stuff cut saying, Some a we're our existing channels, easy we've lot how experience more that. to not and looking but we

future and areas? borrowing we generally better more work that people is one we have to cutting question, the to, from both lead and will better performance marketing more you in service add have me ways to you're profitability which kind that, or again, Truth the the do just well, think there, our marketing marketing that's we're overstating where homeowners we is profit and channels. here of cut asked interactions, between cutting are I'll And experiences on professionals. still think And thing

are be QX. year-over-year And near-term year-over-year performance channels. actually again up so channels in and spend up will and brand is performance

our at out that do healthy, we channels customer each want looking but So more them, that our of when we bring we're demanding business in for and a part valuable other bring is and and all to of what homeowner when a interactions our more, platform, are again X we each Pro of much to and to the the those between deciding platform. platform, the experience for so

Operator

from come will Sandler with Barclays. Ross question next Our

Ross Sandler

Going back to Meredith. Dotdash

the the although premium a worse think strength business, performance, talked than of XX%, down in tad about side improving. I industry but was So the you the

So And rates? growth at how DDM looking then new how of do the ahead see digital run about do Are some you feel in like of those? we load a about think of the improving is think And context forward, cadence function ad How growth or that? ad the to growth that? about we that or do combo in revenue CPM behind session likely 'XX? of or session we

Christopher Halpin

Ross. Thanks, Okay.

lines. For at -- would blend and compare digital when growth think overall marketing Dotdash, the the advertising performance advertising you to about and market I

Meredith the third We'd when it some bit going had traffic. were versus We've versus still probably at holding when be suboptimal felt of the third third a bit like demonetization comparables. actually blended was in and over to is better. some different what is peers, think licensing, we on beast. 'XX about But publishing add-load That those properties little The look saw at of we down which of basis we little quarter, serve we of a on there. X.X% of you leg of a like when digital which quarter a looking in we got

little issue. is a bit comp So a

down it we and we expect numbers ad X.X% October. soft to in as view those with improved in be market QX even But overall, a

about we're that are head So of but the to small from were in things the in our There headwinds ad making. down our Hollywood growth. and good we're numbers labor mind, flat to we That feel the labor into -- But not 'XX. impact those talks to and categories. strike progress entertainment like looking get small,

was core not behind you at when -- talk We're total but more better comps grow grow into even about highlight, which entertainment if year. strike Core look and and derivative but to you providing yet, actors' got the be sessions, the should there to continue to guidance is second continue in expect next QX. should positive solidly, will -- us be to cor core going we that

traffic So tailwind. will a be

premium on sales are in CPMs. right open we market monetization we're even programmatic up this CPMs outperforming soft be now. should the year-over-year, QX and The Our think market

hopefully, digital flattish a revenue continuing marketing performance and source -- revenue QX and So advertising next advertising growth is year. strong into then in as of

digital and incremental drive to revenue improvement about 'XX on then in should said digital overall margins, optimistic profitability. -- given we've are we that what So continued growth drive

Operator

Fitzgerald next Fargo. Our with from come question Wells Brian will

Brian Fitzgerald

on in total like AI off there Joe, couple about general D/Cipher. interest Evergreen and response follow-ups copyrighted sites? Where And then from revenue And content 'XX. on interest general been deprecation on and thinking could how kicks potential DDM for DDM are both thoughts as DDM? cookie further any defending you digital? go uplift think sounds your of for encouraging there's A that penetration of an It do you product

Joseph Levin

very of you good deprecated ad for And regardless. the is powerful that is On being Sure. I and more think, are testing, performance I the forced think Brian, hit based powerful market, that powerful cookies news a and and that our point, much intent direction much is main is more I indicator think in cookies. -- than sort on D/Cipher, so which

the And platform we the unique. over in also really ad intent. to gather data world sort is, of intent that in that pretty with in able are Meredith Our course our good help The and pretty we has the expect exceptional Dotdash overall follow platform wake we to of we what with And XXXX. think, intent. best-performing of

And also making in of interest it campaigns. And it to expect just in a advertiser part but continue, in to seeing their RFPs, in spend we're We're which we buy terms of again, we especially of seeing Internet, it that advertiser responding terms gets broader for it we better easier across us, that product advertisers from to it is all get as across at partners that the have partners. stuff as mapping or underway. broader

relatively defend now, AI, In it? We to pretty straightforward determination. think once are copyright that the terms answered content. needs clear court about figure take everybody that that if do that's been be that, suits using that and but And hopefully, right will that of right probably of We've in that. it reach we ecosystem that and think those there that, not works one of There's do sort expect I small And [ going get look, they're the a together a they clear the is purpose more that underway have and there's be to number question our and and to platforms get a a the in it, we answered our that for which the will to number to time. way to do the existing can the use transform is of over and law reasonable out these it's everybody plan. happens, those solution content to take conclusions, have for table everybody we right it, it get to we'll everybody's ] expect

Operator

from Our next question Citigroup. with Ygal will Arounian come

Ygal Arounian

questions. Two

advertising e-commerce different? important. have Do that's know lot First guys I around softer talked sound any incremental the on relatively the still a about I there discretionary. you hopeful concern October the know macro. a specifically really Dotdash but insight dead is maybe heard holiday. and of you performance horse And the here beat more especially course not and consumer, on earnings, on to over But the we've in

wood to on of as the paring you services. any down on the it you're part then selling now that on Is still chop business And ANGI, well? more that. to there Just you're want business, insight roofing Or be? there where is

Joseph Levin

now, business we pairing services better. things where want be look, of there is one want it the are first. meaning other second do we services to be business. I'll But out that to services not every The right are we always business business, the the

in things can now And which final consideration the place but there services were the in a in projects down we from think But where was in comp, when managed right roofing. we still see year-over-year, we is is that we this You higher are build. can business. step

and on to where demand business healthy and terms it a service Angi. And happens there, think and place overall customer We sort a that's I of know to be customer and the in very in we're there we overall services after it's be. want at from we're best very think doing is we're on services the that the growth We participates business downstream and reality will good happy to to to it. healthy. experience, close in doing tied all there. the that with our services it's excited There be experience, expand requests somewhat means requests, move which of But in want in Angi, revenue what service roofing

the question. first For

Christopher Halpin

Angi footnote next operation But in will be the customer. GAAP, the starting And discontinued the not Yes. given to on just a a third will it one well being to thrilled have in business the point related We're private and roofing operate We for hands quarter transaction. of under it's IAC. party for Page earnings flagged returned that materiality roofing be who to of X this will technical release. but a

up Angi a IAC, rolled and out order roofing put is we the in what into other. emerging will in keep stand-alone what and Angi financials on between to will basis consistent historical So move

We've Other On Angi. next roofing a to will flag. will a be ops starting work sure to go-forward I'm just basis investors. just basis, no thing that that Emerging be we for with through business. wanted sold and be one quarter, explain the discontinued on within impact. But there'll a continue & But to historical we'll then

your Meredith seeing question On and macro. on first Dotdash we're what

vigilant the point. on are We

DDM have relative are distinct go percent, Meredith impact. and have the to are and ago can't elements to But we X% just expect interest we're expectations X to because integrations a some to that You are There trends, a grow on such just platform. without that assets and and rates we looking. take year broader didn't consumers from share these higher big

What year-to-year. the e-commerce is and keeps of shopping hard cadence holiday is that changing

back to worried were or 'XX, present out. and If was able right not you holiday chain one go run things child their because the the about they forward loved being to everyone pulled supply would issues because get

got to moved about chain. worried year, up because things Last So waited November. consumers supply weren't they

things up into in Thanksgiving more much that flagged moved We into even December. So year. last packed and

This seen Amazon was see business, expecting of and deal-oriented And this could how say that promotional but managing retailers competitors probably cadence more a of the we're anything spending consumers about players But signs and being and works but discussion Deals in happen some we've There demand year, among are. the we'll our also e-commerce waiting. consumer forward. specific which I'd Prime pulled environment. we're cautious, Day, how not was strong, slowdown, any seeing then

Operator

Our next Sandler. question from Champion Piper Tom come with will

Thomas Champion

the around then the it? comments on maybe does the for would mean? It it. into gen driving the Angi And movement just business is It's expand that what just existing marketplace, bit Any timing. away be the that buyback, was Chris, to lean clarify you're the buyback. you can model talk to of right? statement Joey, you about a want So comment helpful. but the that around home point That's you a the note, lead discussed in to a from little at evolution Can Angi?

Joseph Levin

and service it's a service big the over to customer Angi. to lead rallying a request important cry means marketplace, as quickly On Sure. going sort and very from to It's of possible a acquiring gen as internally. moving that is What that what more is which important and just customers with build moving us, another That on is There's with for lead nothing brand loyalty to lead mindset. and for and generation. ANGI hard akin drive is wrong to life on. It's generation. professional feature that

which And the customers rewarding is platform on interactions and homeowners making a do to itself. were getting happening And interactions and those think and and in platform which to the those building most with changing I behaviors. get it's professionals, how reward signs too more each our richer interactions other drive systems on platform productively and marketplace and That's on of And we moving much the and so think that more past, transaction of grows interact the platform. on what's best I was first builds job trying those transactions, on. and sides, now service both the those those upon on lead a generation, little

-- referenced the homeowners' the them earlier, one-way what that that theme helping transactions platform. those contact that service There's and things example the we're sending that's having the to each professional back Just between lines monetized many road terms experience, the accomplish. launched is we're things to But per -- but call on I improve or in many, of trying that one-way seeing and of communications. map the transactions, to request. service in or a phone to we've one difference and benefit other along transactions allowing them of of forth and driving the to the just that's less the and messaging And more messaging that professional service number

Christopher Halpin

question. the for thanks Tom, then And

in be and you. buying, buyback. plan we liquidity price question to Operator, to that last the but are investors. are question. levels, then our that Yes, we going relative one Thank a message obviously, On putting to subject was just anticipating from

Operator

from with be Kunal will here Madhukar question UBS. last Our

Kunal Madhukar

and could, on A I Dotdash. on one couple, Angi one if

$XX. is a at based seeing that Marketing math transaction, on XX% year-over-year I'm ads revenue XX.X%. more on modestly about our about and per costs declined only what monetized X% side, Angi the about like declined is on leads So to to

costs the So as can to this CAC of LTV revenue. not changing declining you of as marketing how much dynamic kind is the within about talk

on does and talking of premium with was basis recent the you advertising then that kind side, the Amazon high-intent advertisers like or -- How out them or Amazon, a and the that whole one-on-one going Dotdash selling maybe doesn't? how change view high-intent And of concept leads. to on ads the does agreement a it

Joseph Levin

Kunal. referring a last I of around for announcement the you're up that about what you're think Amazon broke it, You got And to? The D/Cipher. talking second, is I

Kunal Madhukar

just at they XXXX announced cloud, the publisher Conference. the UNBOX the that On DSP Amazon

Joseph Levin

Yes.

those any think So just kind advertiser part Dotdash -- access But for in question. of and inventory infrastructure those access and in media essentially think But we is Dotdash long-term there. D/Cipher, what for Meredith, that, of that we're our is a Chris benefit come on sort to basis. is can that add if huge inventory. the means network we capture that, work those that and a not, of easier can Amazon's win And it's dollars answers to I both our retail D/Cipher But I of an we validation -- it being place can DDM Meredith the and to questions. to of now to on huge back that. can the I hope get if endorsement doing a more

But transaction Angi, is revenue is on monetized the per now. -- down right rate

certain meaning think had far I that too in price, price we, not some areas. back optimized price we've had come areas, in pushed on we on and

rate, of service but question And is so request. there's a also transactions there per

we of with service of true service quality, They're and engaged. professionals more for requests. we service terms to back one is that are happening of getting And requests. things things demand more more both marketing service of therefore, both lead driving those in more of same requests. engaging out in as except And as we're channels, return for except terms get and so more And the existing that's pair

And individual I so SR even that if the revenue each less. question. can per transaction is answers improve, hope worth

Kunal Madhukar

Sure.

ahead. Okay. Go

Joseph Levin

No, go ahead.

Kunal Madhukar

marketing of in terms it No, up just wanted to costs. follow the

marketing costs not did So the as much. decline

So does the that to LTV within impact plans? your dynamic how CAC

Joseph Levin

in heading is CAC and in short-term things some there, Chris that which earlier, taking we the is more that up. we to time QX, are is the retaining a we meaningful transactions adjustments talked channel which where to right valuable. the the about in and referenced LTV that back are and I that's in some ramp are that are There direction, name quality of there made Yes. longer

is CAC And short-term the LTV to direction. right in impact in But heading so the that some economics. generally, has

Christopher Halpin

specifically Yes. year-over-year number ramp calculating. we And up had you're also in brand some TV that

good And feel would answer you and I from? we the full the just the picture. the where that wouldn't into So question, you're we Dotdash then be about say, -- were did on are trends coming given think backing metrics

Kunal Madhukar

Yes.

Joseph Levin

Perfect.

one add on make to Just just that, clear. it more to

going in trend to a per We That's that been transactions and revenue see up. transaction. per is can that counter SR about monetized You a talked the monetized letter.

Christopher Halpin

Well, Thank your thank great morning. a for everyone, you, Thank you, have everyone. you, operator. and questions,

Joseph Levin

you, Bye-bye. all. Thank

Operator

concluded. now has conference The presentation. Thank you attending for today's

may disconnect lines. your now You

We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our Cookie Policy for more information.