Costar Group, Inc. · NASDAQ:CSGP
Costar — Q4 2025 Earnings Presentation
21 slides from Costar's earnings presentation, Feb 24, 2026
Slide 1: Fourth Quarter and Full Year 2025 Highlights
Fourth Quarter and Full Year 2025 Highlights
Slide 2: Forward-Looking Statements
Forward-Looking Statements This investor presentation includes “forward-looking statements”. Potential factors that may cause actual results to differ materially from those projected in these forward-looking statements are described in CoStar Group’s periodic filings with the Securities and Exchange
Slide 3: Fourth Quarter and Full Year 2025 Highlights
Fourth Quarter and Full Year 2025 Highlights • Full year 2025 Revenue of $3.2 billion increased 19% year-over-year, exceeding the high end of our guidance • Fourth quarter revenue of $900 million increased 27% year-over-year, exceeding the high end of our guidance and marking the 59th consecutive qu
Slide 4: Global Traffic of Million Unique Visitors in Q4 2025
Global Traffic of 139 Million Unique Visitors in Q4 2025 200 180 139 MILLION Average Monthly Unique Visitors (in millions) 160 140 120 100 80 60 40 20 - *Prior to June 1, 2024, we measured average monthly unique visitors for all CoStar Group sites using Google’s Universal Analytics. Beginning June 1
Slide 5: Fourth Quarter 2025 Results
Fourth Quarter 2025 Results Fourth Quarter Full Year $900 million $3.2B Revenue 27% year-over-year growth 19% year-over-year growth Net Income $47 million $7 million $177 million $442 million Adjusted EBITDA 20% margin 14% margin Adjusted Net $131 million $364 million Income $0.31 per diluted share
Slide 6: 2026 First Quarter and Full Year Outlook
2026 First Quarter and Full Year Outlook First Quarter Full Year $890 million to $900 million $3.78 billion to $3.82 billion Revenue 22% to 23% YoY growth 16% to 18% YoY growth Net Income (Loss) ($21) million to ($5) million $184 million to $227 million $95 million to $115 million $740 million to $8
Slide 7: 2026 First Quarter and Full Year Outlook – Segments
2026 First Quarter and Full Year Outlook – Segments First Quarter Full Year Commercial $470 million to $475 million $1.955 billion to $1.975 billion Revenue 15% to 16% YoY growth 9% to 11% YoY growth Residential $420 million to $425 million $1.825 billion to $1.845 Billion Revenue 30% to 32% YoY gro
Slide 8: Segment – Commercial Real Estate
Segment – Commercial Real Estate Disaggregated Segment Brand Revenue CoStar CoStar CoStar Debt Solutions Real Estate Manager / Visual Lease LoopNet Commercial Real Estate LoopNet Domain CRE Listings Matterport (Operate) Other Commercial Ten-X BizBuySell
Slide 9: Segment – Residential Real Estate
Segment – Residential Real Estate Disaggregated Segment Brand Revenue Apartments.com Homes.com Residential Real Estate Residential Real Estate Domain Residential Land.com OnTheMarket
Slide 10: Disaggregated Revenue
Disaggregated Revenue 2024 2025 ($ in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2024 2025 CoStar $ 283 $ 286 $ 290 $ 297 $ 305 $ 310 $ 318 $ 325 $ 1,156 $ 1,259 LoopNet 69 70 71 72 73 76 79 84 282 312 Other Commercial Real Estate 17 18 19 22 31 60 64 62 77 216 Total Commercial Real Estate 369 374 380 391 40
Slide 11: Disaggregated Revenue – Prior Disclosure
Disaggregated Revenue – Prior Disclosure 2024 2025 ($ in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2024 2025 CoStar $ 250 $ 253 $ 257 $ 260 $ 265 $ 271 $ 277 $ 283 $ 1,021 $ 1,096 Information Services 33 33 33 37 40 39 41 42 136 162 Multifamily 255 264 272 277 283 292 303 308 1,067 1,185 LoopNet 69 70 71 72
Slide 12: Historical Net New Bookings
Historical Net New Bookings ($ in millions) Year Q1 Q2 Q3 Q4 Total 2015 $21 $34 $31 $25 $111 2016 $30 $26 $26 $29 $112 2017 $35 $37 $34 $43 $148 2018 $35 $45 $40 $50 $169 2019 $48 $59 $50 $52 $210 2020 $48 $35 $53 $49 $184 2021 $52 $51 $47 $67 $217 2022 $69 $84 $76 $77 $305 2023 $80 $82 $65 $58 $286
Slide 13: Stock Repurchase Programs
Stock Repurchase Programs Expect to retire ~5% of shares outstanding with repurchases in 2025 and 2026 Prior Stock Repurchase Program Stock Repurchase Program Announcement Date February 2025 January 2026 Amount Authorized $500 million $1,500 million Duration No limit No limit Actual / Anticipated Am
Slide 14: Additional Significant Investments in 2026 To Drive Future Revenue & EBITDA Growth
12 Additional Significant Investments in 2026 To Drive Future Revenue & EBITDA Growth Approximate Initiative Comment Headcount CoStar in Australia Expand CoStar to Australia - $60 million+ Opportunity 210 CoStar in France Expand CoStar to France - $110 million+ Opportunity 50 CoStar Lender Originati
Slide 15: Appendix
me CoStar Group” Appendix
Slide 16: Non-GAAP Financial Measures
Non-GAAP Financial Measures For information regarding the purpose for which management uses the non-GAAP financial measures disclosed in this presentation and why management believes they provide useful information to investors regarding the Company’s financial condition and results of operations, p
Slide 17: Reconciliation of Net Income to Adjusted Net Income and Adjusted EPS - Unaudited
Reconciliation of Net Income to Adjusted Net Income and Adjusted EPS - Unaudited
Slide 18: Reconciliation of Net Income to Adjusted EBITDA - Unaudited
Reconciliation of Net Income to Adjusted EBITDA - Unaudited
Slide 19: Results of Segments and Guidance Ranges - Unaudited
Results of Segments and Guidance Ranges - Unaudited
Slide 20: Disaggregated Revenues - Unaudited
Disaggregated Revenues - Unaudited During the fourth quarter of 2025, we changed the composition of our segments from geography-based to product line- based. We have recast certain prior period disclosures to align with the new presentation:
Slide 21: Use of Operating Metrics and Other Definitions
Use of Operating Metrics and Other Definitions Operating Metrics CoStar Group reviews a number of operating metrics to evaluate its business, measure performance, identify trends, formulate business plans and make strategic decisions. This presentation includes Net new bookings. Going forward, CoSta