CoStar Group Earnings Call Transcripts
Fiscal Year 2026
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The meeting covered director elections, auditor ratification, executive compensation, and an employee stock plan, all of which were approved. Stockholders could submit questions, but none were received on the proposals. Voting outcomes were promptly reported.
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Q1 2026 delivered 23% revenue growth and doubled adjusted EBITDA, with strong performance across commercial and residential segments. Homes.com and Matterport drove engagement and ROI, while guidance for full-year revenue and earnings was raised.
Fiscal Year 2025
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Revenue grew 19% to $3.2B in 2025, with adjusted EBITDA up 83% to $442M. Strong growth in both commercial and residential segments, record net new bookings, and the launch of Homes AI position the company for continued margin expansion and global reach in 2026.
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Apartments and Homes.com are driving growth through technology, AI, and original content, with strong expansion in underpenetrated markets and a focus on agent value. Capital allocation is shifting toward accelerated buybacks, while commercial real estate and LoopNet show signs of recovery and innovation.
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Q3 2025 saw 20% revenue growth to $834M, with adjusted EBITDA up 51% and strong performance across all segments. Major investments in AI and the Domain acquisition are driving future growth, while legal and regulatory risks remain a focus.
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Q2 2025 saw 15% revenue growth to $781M and record Net New Bookings of $93M, with adjusted EBITDA up 108%. Strong segment performance, sales force expansion, and new product initiatives drove results. Full-year revenue and EBITDA guidance were raised, and the Domain Holdings acquisition is expected to close in Q3.
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The meeting covered director elections, auditor ratification, executive compensation, and a new stock incentive plan, all of which were approved. A shareholder proposal for greater political spending transparency was discussed but not adopted. Voting results and Q&A procedures were clearly outlined.
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Q1 2025 saw 12% revenue growth to $732M and a 429% jump in adjusted EBITDA, with strong segment performance across Apartments.com, LoopNet, and Homes.com. The company closed the Matterport acquisition, made a bid for Domain Group, and maintained robust margins and bookings despite a challenging CRE market.
Fiscal Year 2024
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Q4 and full year 2024 results exceeded expectations, with 11% revenue growth and strong profit margins. Strategic investments in Homes.com and international expansion are fueling future growth, while a $500 million share buyback and robust cash position support capital allocation.
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The company is executing a multi-segment, global growth strategy, leveraging proprietary data, integrated platforms, and agent-centric business models to drive double-digit revenue growth and market leadership. Homes.com, Apartments.com, and STR are scaling rapidly, with strong financial performance and continued investments in technology, marketing, and international expansion.
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Investor Day will highlight management and product suite, with Homes.com positioned as a unique, agent-focused platform. Dedicated sales force expansion and product enhancements like Matterport are driving growth, while investments shift from marketing to sales. Core and Apartments.com businesses remain strong, with margin expansion expected as scale increases.
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The conference highlighted a strategic push into residential real estate, emphasizing a unique agent-focused model and significant investment in Homes.com. Core commercial platforms are poised for renewed growth as distractions ease, while international expansion and new products for institutional clients offer substantial long-term opportunities.
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Leadership emphasized ongoing digitalization of real estate, with resilient core products and expanding TAM through new modules and international growth. Apartments.com and Homes.com are positioned for further revenue gains, supported by increased sales force investment and refined strategies. Disciplined M&A and evolving industry regulations offer additional growth levers.
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Q3 2024 revenue grew 11% year-over-year to $693 million, with strong performance in core segments and adjusted EBITDA of $76 million, exceeding guidance. Homes.com ramp-up impacted short-term bookings, but sales force expansion and product investments are expected to drive growth in 2025.
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Q2 2024 revenue grew 12% year-over-year to $678M, with adjusted EBITDA of $41M, both above guidance. Homes.com and Apartments.com drove strong segment growth, while guidance for full-year revenue and EBITDA was raised. Focus shifts to building a dedicated Homes.com sales force.