CoStar Group, Inc. (CSGP) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Q4 and year-end 2025 CoStar Group Earnings Conference Call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. After the speaker's presentation, there will be a question-and-answer session. To ask a question, please press star 1-1 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1-1 again. I would now like to hand the conference over to your speaker today, Rich Simonelli, head of investor relations. Hello, and thank you for joining us to discuss the full year and fourth quarter 2025 results of CoStar Group. Before I turn the call over to Andy Florence, CoStar CEO and founder, and Chris Lown, our CFO, I'd like to review our safe harbor statement. Certain portions of the discussion today may contain forward-looking statements, including the company's outlook and expectations for the first quarter, full year of 2026, and beyond. These statements are based on current beliefs and assumptions, and forward-looking statements involve many risks and certainties of assumptions, estimates, and other factors that can cause actual results to differ materially from such statements involved. Important factors that can cause actual results to differ include, but are not limited to, those stated in CoStar Group's press release issued earlier today and in our filings with the SEC, including our annual report on Form 10-K and quarterly reports on Form 10-Q, included under the heading Risk Factors in these filings, as well as other filings with the SEC available on the SEC's website. All forward-looking statements are based on the information available to COSTAR on the date of this call. COSTAR assumes a new obli...