Financial Data and Key Metrics Changes - Full year marketplace revenue increased by 14% year-over-year, with revenue growth accelerating throughout the year [8] - Annual consolidated adjusted EBITDA grew by 26% year-over-year, reaching $51 million, with margins expanding over 600 basis points to nearly 28% [11] - Fourth quarter consolidated revenue was $229 million, up 2% year-over-year, driven by a 15% increase in marketplace revenue [38][39] - Non-GAAP consolidated gross profit for Q4 was $199 million, up approximately 14% year-over-year, with a gross margin of 87% [42] Business Line Data and Key Metrics Changes - Marketplace revenue for Q4 was $210 million, up 15% year-over-year, driven by subscription-based listings revenue growth [38] - Digital Wholesale segment ended the year with an $18 million adjusted EBITDA loss, reflecting declines in transaction volume [12] - International business revenue increased by 23% year-over-year, with significant operating profit expansion [9] Market Data and Key Metrics Changes - Global accounts grew to 32,010 dealers, up 326 dealers sequentially, reflecting higher engagement and improved retention [39] - The international dealer base and car seat growth were up about 11% and 17% year-over-year, respectively [40] Company Strategy and Development Direction - The company plans to continue investing in product innovations and enhancing the value proposition for dealers [13][30] - Focus on integrating offerings into dealers' daily workflows to strengthen market leadership [30] - Emphasis on rebuilding and integrating the Digital Wholesale segment, with a focus on improving operations and refining product market fit [31] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ability to replicate domestic success in international markets [9] - The company anticipates continued strong growth in the Marketplace segment, with guidance for Q1 2025 revenue growth between 12% and 14% year-over-year [49][78] - Management noted that dealers are currently in a wait-and-see mode regarding potential tariffs, focusing on normal operations [102] Other Important Information - The company ended Q4 with $304 million in cash and cash equivalents, an increase of $57 million from the previous quarter [47] - A $200 million share repurchase program was announced, effective January 2025 [48] Q&A Session Summary Question: Inquiry about Digital Deal and financing functionality - Management highlighted the pilot program for direct credit applications, which integrates with dealer financing systems to enhance consumer experience and lead conversion [58][59] Question: Impact of tariffs on affordability and business components - Management discussed potential shifts in new car brands and the impact on used car demand, emphasizing a focus on ROI for dealers [62][63] Question: Drivers behind strong dealer additions - Management attributed growth to the company's reputation as an ROI provider and the delivery of unique insights to dealers [70][72] Question: Thoughts on OEM advertising trends - Management expressed confidence in the advertising business, noting strong retention rates and the importance of targeting [120][121] Question: Marketing strategy and channel preferences - Management indicated a shift towards online video and television marketing, moving away from traditional performance marketing [127][129] Question: Integration with DMS systems - Management confirmed ongoing efforts to integrate with various dealer management systems to enhance product offerings [92][94]