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Over 5.2 million pools sold across the US and Canada are under recall after reports of nine deaths

Over 5.2 million pools sold across the US and Canada are under recall after reports of nine deaths

CNN17 hours ago
More than 5.2 million aboveground swimming pools sold across the US and Canada over the last two decades are being recalled after nine drowning deaths were reported.
The recall covers a range of Bestway, Intex Recreation and Polygroup pools that were sold by major retailers as far back as 2002. According to Monday notices published by the US Consumer Product Safety Commission and Health Canada, these pools have compression straps running along the outside of the product — which 'may create a foothold' for small children and allow them to access the water unattended.
That can pose a serious drowning risk, the safety regulatory warn. To date, the CPSC believes nine children across the US have drowned after gaining access to these now-recalled pools in this way. Those deaths occurred between 2007 and 2022, involving children between the ages of 22 months and 3 years old. No additional fatalities have been reported in Canada.
Consumers in possession of these pools are urged to immediately contact Bestway, Intex and/or Polygroup to receive a free repair kit — which will consist of a rope to replace the compression strap. Owners of these pools should otherwise ensure that small children cannot access the pool without supervision, regulators note — and could alternatively drain the pool until the repair is made.
All of the pools being recalled are 48 inches or taller — and can be identified by brand and model names listed on both the CPSC and Health Canada's recall notices. Sales of the pools ranged by model and location, but date as far back to 2002 and as recently as 2025.
About 5 million of these now-recalled pools were sold across the US — including both online and in-stores at major retailers like Walmart, Target, Lowe's, Costco and Amazon. Another 266,000 were sold in Canada.
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Reconciliation of Non-GAAP Financial Measures - Unaudited (in millions, except per share data) Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) $ 6.2 $ 19.2 $ (8.6 ) $ 25.9 Amortization of acquired intangible assets in cost of revenues 17.1 7.9 27.6 16.7 Amortization of acquired intangible assets in operating expenses 26.5 10.2 43.7 21.2 Depreciation and other amortization 12.2 10.1 26.5 20.4 Interest income, net (32.5 ) (53.5 ) (71.0 ) (109.7 ) Other (income) expense, net (1) (16.3 ) 1.5 (13.9 ) 3.4 Income tax expense 15.4 16.7 23.5 21.5 EBITDA 28.6 12.1 27.8 (0.6 ) Stock-based compensation expense 51.8 22.7 82.2 45.5 Acquisition and integration related costs 5.4 6.0 26.0 8.3 Restructuring and related costs (1.4 ) — 5.7 — Settlements and impairments 0.6 — 8.9 — Adjusted EBITDA $ 85.0 $ 40.8 150.6 $ 53.2 __________________________ (1) Includes $8.5 million and $8.3 million of depreciation and amortization expense, including above-market lease amortization associated with lessor activities for the three months ended June 30, 2025 and 2024, respectively, and $13.5 million and $13.8 million for the six months ended June 30, 2025 and 2024, respectively. 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Condensed Consolidated Balance Sheets - Unaudited (in millions) June 30, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 3,628.6 $ 4,681.0 Restricted cash 98.4 — Equity investment 308.1 — Accounts receivable 231.0 210.7 Less: Allowance for credit losses (27.2 ) (22.8 ) Accounts receivable, net 203.8 187.9 Prepaid expenses and other current assets 92.6 81.3 Total current assets 4,331.5 4,950.2 Deferred income taxes, net 55.4 30.6 Property and equipment, net 1,206.7 1,014.9 Lease right-of-use assets 93.8 103.0 Goodwill 3,689.6 2,527.6 Intangible assets, net 915.6 433.2 Deferred commission costs, net 184.4 169.6 Deposits and other assets 30.1 27.7 Total assets $ 10,507.1 $ 9,256.8 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable 51.5 47.0 Accrued wages and commissions 135.9 133.3 Accrued expenses 220.3 163.7 Litigation accrual 96.7 — Income taxes payable 1.0 23.2 Lease liabilities 25.8 32.0 Deferred revenue 187.4 137.1 Other current liabilities 23.8 16.0 Total current liabilities 742.4 552.3 Long-term debt, net 992.5 991.9 Deferred income taxes, net 8.2 7.6 Income taxes payable 26.4 25.0 Lease and other long-term liabilities 136.2 126.5 Total liabilities 1,905.7 1,703.3 Total stockholders' equity 8,601.4 7,553.5 Total liabilities and stockholders' equity $ 10,507.1 $ 9,256.8 CoStar Group, Inc. Condensed Consolidated Statements of Cash Flows - Unaudited (in millions) Six Months Ended June 30, 2025 2024 Operating activities: Net income (loss) $ (8.6 ) $ 25.9 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 112.8 72.1 Amortization of deferred commissions costs 66.9 56.3 Non-cash lease expense 16.0 16.5 Stock-based compensation expense 82.2 45.5 Deferred income taxes, net (5.5 ) (6.4 ) Credit loss expense 16.9 17.0 Unrealized gains on investments and deal-contingent foreign currency forward contracts (24.6 ) — Other operating activities, net (1.9 ) 1.8 Changes in operating assets and liabilities, net of acquisitions: Accounts receivable (18.8 ) (31.1 ) Prepaid expenses and other current assets and other assets 13.4 (13.9 ) Deferred commissions (80.0 ) (67.6 ) Accounts payable and other liabilities 54.2 88.0 Lease liabilities (18.8 ) (18.4 ) Income taxes payable, net (21.3 ) (7.0 ) Deferred revenue 16.8 19.0 Net cash provided by operating activities 199.7 197.7 Investing activities: Proceeds from sale and settlement of investments 203.4 — Proceeds from sale of property, equipment, and other assets 0.8 — Purchases of property, equipment, and other assets for new campuses (172.5 ) (449.5 ) Purchases of property, equipment, and other assets (58.2 ) (23.0 ) Purchases of equity securities (284.8 ) — Cash paid for acquisitions, net of cash acquired (750.1 ) (5.1 ) Net cash used in investing activities (1,061.4 ) (477.6 ) Financing activities: Payments of debt issuance costs — (3.4 ) Repurchase of restricted stock to satisfy tax withholding obligations (47.0 ) (26.9 ) Stock repurchase (63.8 ) — Proceeds from exercise of stock options and employee stock purchase plan 14.4 17.2 Principal repayments of financing lease obligations (2.0 ) (2.2 ) Net cash used in financing activities (98.4 ) (15.3 ) Effect of foreign currency exchange rates on cash, cash equivalents, and restricted cash 6.1 (1.2 ) Net decrease in cash, cash equivalents, and restricted cash (954.0 ) (296.4 ) Cash, cash equivalents, and restricted cash at the beginning of period 4,681.0 5,215.9 Cash, cash equivalents, and restricted cash at the end of period $ 3,727.0 $ 4,919.5 CoStar Group, Inc. Disaggregated Revenues - Unaudited (in millions) Three Months Ended June 30, 2025 2024 North America International Total North America International Total CoStar $ 251.6 $ 19.3 $ 270.9 $ 237.1 $ 15.9 $ 253.0 Information Services 35.7 3.6 39.3 27.9 5.5 33.4 Multifamily 292.3 — 292.3 264.2 — 264.2 LoopNet 72.6 3.1 75.7 67.2 2.6 69.8 Residential 17.1 11.3 28.4 16.2 10.0 26.2 Other Revenues 74.7 — 74.7 31.2 — 31.2 Total revenues $ 744.0 $ 37.3 $ 781.3 $ 643.8 $ 34.0 $ 677.8 CoStar Group, Inc. Disaggregated Revenues - Unaudited (in millions) Six Months Ended June 30, 2025 2024 North America International Total North America International Total CoStar $ 499.2 $ 36.8 $ 536.0 $ 472.8 $ 30.5 $ 503.3 Information Services 71.7 7.4 79.1 55.3 11.1 66.4 Multifamily 574.8 — 574.8 519.0 — 519.0 LoopNet 142.6 5.9 148.5 133.6 5.3 138.9 Residential 33.6 22.0 55.6 24.6 20.2 44.8 Other Revenues 119.5 — 119.5 61.8 — 61.8 Total revenues $ 1,441.4 $ 72.1 $ 1,513.5 $ 1,267.1 $ 67.1 $ 1,334.2 CoStar Group, Inc. Results of Segments - Unaudited (in millions) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 EBITDA North America $ 43.3 $ 30.8 $ 52.4 $ 34.0 International (14.7 ) (18.7 ) (24.6 ) (34.6 ) Total EBITDA $ 28.6 $ 12.1 $ 27.8 $ (0.6 ) CoStar Group, Inc. Reconciliation of Non-GAAP Financial Measures with Quarterly Results - Unaudited (in millions, except per share data) Reconciliation of Net Income (Loss) to Non-GAAP Net Income 2024 2025 Q1 Q2 Q3 Q4 Q1 Q2 Net income (loss) $6.7 $19.2 $53.0 $59.8 ($14.8) $6.2 Income tax expense 4.8 16.7 24.7 25.2 8.1 15.4 Income (loss) before income taxes 11.5 35.9 77.7 85.0 (6.7) 21.6 Amortization of acquired intangible assets 19.8 18.1 16.5 19.8 27.7 43.6 Stock-based compensation expense 22.8 22.7 21.8 21.8 30.4 51.8 Acquisition and integration related costs 2.3 6.0 4.4 16.7 20.6 5.4 Unrealized gains on investments and deal-contingent foreign currency forward contracts related to an expected acquisition(1) — — — — (2.5) (22.1) Restructuring and related costs — — 0.2 0.5 7.1 (1.4) Settlements and impairments — — (1.3) — 8.3 0.6 Non-GAAP income before income taxes(2) 56.4 82.7 119.3 143.8 84.9 99.5 Assumed rate for income tax expense(3) 26.0% 26.0% 26.0% 26.0% 26.0% 26.0% Assumed provision for income tax expense (14.7) (21.5) (31.0) (37.4) (22.1) (25.9) Non-GAAP net income(2) $41.7 $61.2 $88.3 $106.4 $62.8 $73.6 Non-GAAP net income per share - diluted $0.10 $0.15 $0.22 $0.26 $0.15 $0.17 Weighted average outstanding shares - diluted 406.2 407.4 408.0 408.4 410.5 424.3 Non-GAAP dilutive shares(4) — — — — 5.0 — Non-GAAP weighted average shares, diluted 406.2 407.4 408.0 408.4 415.5 424.3 __________________________ (1) Recorded in other income (expense), net in the condensed consolidated statements of operations. (2) Totals may not foot due to rounding. (3) The assumed tax rate approximates our statutory federal and state corporate tax rate for the applicable period. (4) Diluted loss per share includes the effect of potential common shares, such as the Company's stock options, restricted stock units, and deferred stock units, to the extent the effect is dilutive. In periods with a net loss available to common stockholders, the anti-dilutive effect of these potential common shares is excluded and diluted net loss per share is equal to basic net loss per share. Non-GAAP weighted average shares have been adjusted for these periods to include the dilutive impact. Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA 2024 2025 Q1 Q2 Q3 Q4 Q1 Q2 Net income (loss) $6.7 $19.2 $53.0 $59.8 $(14.8) $6.2 Amortization of acquired intangible assets 19.8 18.1 16.5 19.8 27.7 43.6 Depreciation and other amortization 10.3 10.1 10.6 13.1 14.3 12.2 Interest income, net (56.2) (53.5) (55.6) (47.2) (38.5) (32.5) Other expense (income), net(1) 1.9 1.5 1.6 2.2 2.4 (16.3) Income tax expense 4.8 16.7 24.7 25.2 8.1 15.4 EBITDA(2) $(12.7) $12.1 $50.8 $72.9 $(0.8) $28.6 Stock-based compensation expense 22.8 22.7 21.8 21.8 30.4 51.8 Acquisition and integration related costs 2.3 6.0 4.4 16.7 20.6 5.4 Restructuring and related costs — — 0.2 0.5 7.1 (1.4) Settlements and impairments — — (1.3) — 8.3 0.6 Adjusted EBITDA(2) $12.4 $40.8 $75.9 $111.9 $65.6 $85.0 __________________________ (1) Includes $5.5 million, $8.3 million, $8.3 million, $5.0 million, $6.5 million, and $8.5 million of depreciation and amortization expense, including above-market lease amortization, associated with lessor activities, for the three months ending March 31, 2024, June 30, 2024, September 30, 2024, December 31, 2024, March 31, 2025, and June 30, 2025, respectively. (2) Totals may not foot due to rounding. CoStar Group, Inc. Reconciliation of Forward-Looking Guidance - Unaudited (in millions, except per share data) Reconciliation of Forward-Looking Guidance, Net Income (Loss) to Non-GAAP Net Income Guidance Range Guidance Range For the Three Months For the Year Ending Ending September 30, 2025 December 31, 2025 Low High Low High Net income (loss) $ (5.4 ) $ 0.6 $ 37.0 $ 46.0 Income tax expense 2.4 6.4 43.0 54.0 Income (loss) before taxes (3.0 ) 7.0 80.0 100.0 Amortization of acquired intangible assets 42.0 42.0 156.0 156.0 Stock-based compensation expense 50.0 50.0 177.0 177.0 Acquisition and integration related costs 3.0 3.0 31.0 31.0 Restructuring and related costs — — 6.0 6.0 Settlements and impairments — — 9.0 9.0 Unrealized gains on investments and deal-contingent foreign currency forward contracts related to an expected acquisition — — (25.0 ) (25.0 ) Non-GAAP income before income taxes 92.0 102.0 434.0 454.0 Assumed rate for income tax expense(1) 26.0 % 26.0 % 26.0 % 26.0 % Assumed provision for income tax expense (23.9 ) (27.0 ) (112.8 ) (118.0 ) Non-GAAP net income 68.0 75.0 321.0 336.0 Net income (loss) per share - diluted $ (0.01 ) $ — $ 0.09 $ 0.11 Non-GAAP net income per share - diluted $ 0.16 $ 0.18 $ 0.76 $ 0.80 Weighted average outstanding shares - diluted 424.6 424.6 421.1 421.1 (1) The assumed tax rate approximates our statutory federal and state corporate tax rate for the applicable period. Reconciliation of Forward-Looking Guidance, Net Income (Loss) to Adjusted EBITDA Guidance Range Guidance Range For the Three Months For the Year Ending Ending September 30, 2025 December 31, 2025 Low High Low High Net income (loss) $ (5.4 ) $ 0.6 $ 37.0 $ 46.0 Amortization of acquired intangible assets $ 42.0 $ 42.0 $ 156.0 $ 156.0 Depreciation and other amortization $ 13.0 $ 13.0 $ 54.0 $ 54.0 Interest income, net $ (32.0 ) $ (32.0 ) $ (133.0 ) $ (133.0 ) Other expense (income), net $ 2.0 $ 2.0 $ (10.0 ) $ (10.0 ) Income tax expense $ 2.4 $ 6.4 $ 43.0 $ 54.0 Stock-based compensation expense $ 50.0 $ 50.0 $ 177.0 $ 177.0 Acquisition and integration related costs $ 3.0 $ 3.0 $ 31.0 $ 31.0 Restructuring and related costs $ — $ — $ 6.0 $ 6.0 Settlements and impairments $ — $ — $ 9.0 $ 9.0 Adjusted EBITDA $ 75.0 $ 85.0 $ 370.0 $ 390.0 About CoStar Group CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world's real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives. CoStar Group's major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; the leading platform for apartment rentals; and the fastest-growing residential real estate marketplace. CoStar Group's industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom. CoStar Group's websites attracted over 111 million average monthly unique visitors in the second quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit This news release and the Company's earnings conference call contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about CoStar Group's plans, objectives, expectations, beliefs and intentions and other statements including words such as "hope," "anticipate," "may," "likely," "might," "believe," "expect," "observe," "consider", "think," "intend," "envision," "will," "should," "could", "would," "plan," "target," "goal," "estimate," "predict," "continue," "commit," and "potential" or the negative of these terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of management of CoStar Group and are subject to many risks and uncertainties. Actual results may differ materially from the results anticipated in the forward-looking statements and the assumptions and estimates used as a basis for the forward-looking statements. The following factors, among others, could cause or contribute to such differences: the risks related to the specific timing, price, and size of repurchases under the Stock Repurchase Program, including that the Stock Repurchase Program may be suspended or discontinued at any time at the Company's discretion; our inability to attract and retain new clients; our inability to successfully develop and introduce new or updated online marketplace services, information, and analytics; our inability to compete successfully against existing or future competitors in attracting advertisers and in general; the effects of fluctuations and market cyclicality; the effects of global economic uncertainties and downturns or a downturn or consolidation in the real estate industry; our inability to hire qualified persons for, or retain and continue to develop our sales force, or unproductivity of our sales force; our inability to retain and attract highly capable management and operating personnel; the downward pressure that our internal and external investments may place on our operating margins; our inability to increase brand awareness; our inability to maintain or increase internet traffic to our marketplaces, and the risk that the methods, including Google Analytics, that we use to measure average monthly unique visitors to our portals may misstate the actual number of unique persons who visit our network of mobile applications and websites for a given month or may differ from the methods used by competitors; our inability to attract new advertisers; our inability to successfully identify, finance, integrate, and/or manage costs related to acquisitions; our inability to complete certain strategic transactions if a proposed transaction is subject to review or approval by regulatory authorities pursuant to applicable laws or regulations; our inability to realize the benefits of the acquisition of Matterport; the effects of cyberattacks and security vulnerabilities, and technical problems or disruptions; the significant costs associated with undertaking a large infrastructure project to build out our campus in Richmond, Virginia; our inability to generate increased revenues from our current or future geographic expansion plans; the risks related to acceptance of credit cards and debit cards and facilitation of other customer payments; the effects of climate related events and other events beyond our control; the effects related to attention to climate-related risks and opportunities; our inability to obtain and maintain accurate, comprehensive, or reliable data; our inability to obtain and maintain stable data feeds, or disruption of our data feeds; our inability to enforce or defend our ownership and use of intellectual property; the effects of use of new and evolving technologies, including artificial intelligence, on our ability to protect our data and intellectual property from misappropriation by third parties; our inability to defend against potential legal liability for collecting, displaying, or distributing information; our inability to obtain or retain listings from real estate brokers, agents, property owners, and apartment property managers; our inability to maintain or establish relationships with third-party listing providers; our inability to comply with the rules and compliance requirements of Multiple Listing Services; the risks related to international operations; the effects of foreign currency exchange rate fluctuations; our indebtedness; the effects of a lowering or withdrawal of the ratings assigned to our debt securities by rating agencies; the effects of any actual or perceived failure to comply with privacy laws and standards; the effects of changes in tax laws, regulations, or fiscal and tax policies; the effects of third-party claims, litigation, regulatory proceedings, or government investigations; and risks related to return on investment; the inability of third-party suppliers upon which Matterport relies to fulfill its needs; the risks related to our equity investments; the risks associated with the ability to consummate the transaction to acquire Domain Holdings Australia Limited (the "Domain Transaction") and realize the benefits of the Domain Transaction; and the risks related to open source software. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar Group's filings from time to time with the Securities and Exchange Commission (the "SEC"), including in CoStar Group's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, each of which is filed with the SEC, including in the "Risk Factors" section of those filings, as well as CoStar Group's other filings with the SEC (including Current Reports on Form 8-K) available at the SEC's website ( All forward-looking statements are based on information available to CoStar Group on the date hereof, and CoStar Group assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. View source version on Contacts Investor Relations: Rich Simonelli Head of Investor Relations CoStar Group Investor Relations (973) 896-8184 getrich@ News Media: Matthew Blocher Vice President CoStar Group Corporate Marketing & Communications (202) 346-6775 mblocher@

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