Latest news with #CoStarGroup
Business Wire
2 days ago
- Business
- Business Wire
CoStar Group Names Grant Montgomery as National Director of Multifamily Analytics
ARLINGTON, Va.--(BUSINESS WIRE)--CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, analytics, and 3D digital twin technology in the property markets, announced today the appointment of Grant Montgomery as National Director of Multifamily Analytics. The hire will augment the company's already powerful analytics across the U.S. multifamily sector, adding value for CoStar Group clients and the commercial real estate industry as a whole. In his new role, Montgomery will serve as CoStar Group's industry-facing representative for the multifamily sector, delivering the company's data-driven perspective and outlook on the market. As CoStar Group's subject matter expert on all multifamily themes, trends, and topics, Montgomery will use his extensive knowledge to uphold CoStar Group's commitment to providing quality analytics and insights for clients and the industry. 'We are thrilled to have Grant, a demonstrated, multi-faceted researcher, leader and strategic advisor, join the team,' said Galina Alexeenko, Vice President, CoStar Group Market Analytics. 'Grant's vast experience in real estate research and operations, coupled with CoStar's unparalleled multifamily data and analytics, will provide our clients with insights into the multifamily market's key trends and developments. We welcome this outstanding addition to CoStar Group's analytics team.' Montgomery joins CoStar Group with more than 25 years of real estate research and consulting experience. Previously serving as Vice President of Research for Elme Communities, Montgomery led the development of strategic quantitative market analysis that supported the company's transformation into a multifamily REIT, directly influencing portfolio strategies. Prior to his time at Elme, he served as Senior Vice President and Apartment Practice Director at Delta Associates, delivering critical insights into market conditions to developers, lenders, and public agencies. Montgomery is a frequent speaker at industry events on multifamily market conditions. 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 141 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
Yahoo
2 days ago
- Business
- Yahoo
CoStar Group Inc (CSGP) Q2 2025 Earnings Call Highlights: Record Revenue Growth and Strategic ...
Revenue: $781 million, a 15% increase compared to last year. Adjusted EBITDA: $85 million, a 108% increase compared to Q2 2024. Profit Margin: 43% for commercial information and marketplace businesses. Net New Bookings: $93 million, a 65% increase over the previous quarter. Revenue: $292 million, up 11% from Q2 2024. Revenue Growth: 8% increase compared to Q2 2024. CoStar Product Revenue: $271 million, 7% year-over-year growth. LoopNet Revenue Growth: 8% year-over-year increase. Cash Balance: $3.7 billion as of June 30. Share Repurchase: 585,000 shares repurchased for $45 million in Q2. 2025 Revenue Guidance: Increased to $3.135 billion to $3.155 billion. 2025 Adjusted EBITDA Guidance: Revised to $370 million to $390 million. Warning! GuruFocus has detected 4 Warning Sign with CSGP. Release Date: July 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points CoStar Group Inc (NASDAQ:CSGP) reported a strong 15% increase in revenue, reaching $781 million for Q2 2025, marking the 57th consecutive quarter of double-digit revenue growth. Adjusted EBITDA rose significantly by 108% compared to Q2 2024, reaching $85 million, exceeding consensus estimates and the high end of guidance. achieved an 11% revenue increase from Q2 2024, reaching $292 million, with a strong net new bookings performance. delivered solid sales growth with residential annualized net new bookings totaling $12 million for the quarter, and a significant increase in membership. LoopNet's net new bookings surged by 345% in the first half of 2025 compared to the same period last year, with expectations for revenue growth to exceed 10% in the second half of 2025. Negative Points Matterport, despite being a leading provider of digital twin solutions, has not yet achieved profitability and its growth rate has slowed. The commercial real estate market continues to face challenges, particularly in the office segment with high vacancy rates and negative net absorption rates. Zillow's aggressive tactics in the market raise antitrust concerns, potentially impacting CoStar Group Inc (NASDAQ:CSGP)'s competitive positioning. The integration and streamlining efforts at Matterport involve discontinuing certain non-core revenue streams, impacting revenue expectations. The product is still in its early stages, requiring ongoing efforts to communicate its value proposition effectively to clients. Q & A Highlights Q: Have you observed any signs of wallet share loss in especially with Zillow's rental package priced below yours? A: Andrew Florance, CEO: We have not seen any loss of share or ability to capture price value at Our product remains strong with high NPS renewal rates and growing bookings. The competitive dynamics involve our competitor purchasing clients at top dollar, but these are low-quality advertisers. We feel confident in our competitive position. Q: What is driving the improvement in Net Promoter Scores (NPS), and where is there still room for improvement? A: Andrew Florance, CEO: The improvement is due to better communication of our value proposition and effective use of our product. Our sales force is relatively new, and as they gain experience, NPS and bookings improve. We are focused on educating agents about the value of marketing real estate online, and the uptake of Matterport offerings is a differentiator. Q: Can you discuss pricing strategies across your business, particularly in multi-family and new homes models? A: Andrew Florance, CEO: We are optimizing pricing based on portfolio size and value. While we are seeing pricing for smaller players at a few hundred dollars a month, larger deals can reach $7,500 to $8,000 a month. We are focusing on penetration rather than maximizing ASP initially, with plans to adjust pricing strategies as we grow. Q: How has the average price for a new membership changed, and what is your broader pricing strategy? A: Andrew Florance, CEO: We focus on profitable growth with high gross margins. Pricing is based on listing value, asset volume, and team size. We have shifted away from buyer agency work pricing and are incorporating rental portfolios into our pricing model. Our strategy is to drive profitable penetration growth, knowing we can capture more value over time. Q: What is the serviceable addressable market for and how are you approaching it with your sales force? A: Andrew Florance, CEO: The addressable market is vast, with 1.5 million agents, of which 500,000 to 750,000 are viable candidates. We aim to build relationships and educate clients on the value of our services. With 750 salespeople, each handling about 1,000 prospects, we are well-positioned to capture a significant market share. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
CoStar Group Inc (CSGP) Q2 2025 Earnings Call Highlights: Record Revenue Growth and Strategic ...
Revenue: $781 million, a 15% increase compared to last year. Adjusted EBITDA: $85 million, a 108% increase compared to Q2 2024. Profit Margin: 43% for commercial information and marketplace businesses. Net New Bookings: $93 million, a 65% increase over the previous quarter. Revenue: $292 million, up 11% from Q2 2024. Revenue Growth: 8% increase compared to Q2 2024. CoStar Product Revenue: $271 million, 7% year-over-year growth. LoopNet Revenue Growth: 8% year-over-year increase. Cash Balance: $3.7 billion as of June 30. Share Repurchase: 585,000 shares repurchased for $45 million in Q2. 2025 Revenue Guidance: Increased to $3.135 billion to $3.155 billion. 2025 Adjusted EBITDA Guidance: Revised to $370 million to $390 million. Warning! GuruFocus has detected 4 Warning Sign with CSGP. Release Date: July 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points CoStar Group Inc (NASDAQ:CSGP) reported a strong 15% increase in revenue, reaching $781 million for Q2 2025, marking the 57th consecutive quarter of double-digit revenue growth. Adjusted EBITDA rose significantly by 108% compared to Q2 2024, reaching $85 million, exceeding consensus estimates and the high end of guidance. achieved an 11% revenue increase from Q2 2024, reaching $292 million, with a strong net new bookings performance. delivered solid sales growth with residential annualized net new bookings totaling $12 million for the quarter, and a significant increase in membership. LoopNet's net new bookings surged by 345% in the first half of 2025 compared to the same period last year, with expectations for revenue growth to exceed 10% in the second half of 2025. Negative Points Matterport, despite being a leading provider of digital twin solutions, has not yet achieved profitability and its growth rate has slowed. The commercial real estate market continues to face challenges, particularly in the office segment with high vacancy rates and negative net absorption rates. Zillow's aggressive tactics in the market raise antitrust concerns, potentially impacting CoStar Group Inc (NASDAQ:CSGP)'s competitive positioning. The integration and streamlining efforts at Matterport involve discontinuing certain non-core revenue streams, impacting revenue expectations. The product is still in its early stages, requiring ongoing efforts to communicate its value proposition effectively to clients. Q & A Highlights Q: Have you observed any signs of wallet share loss in especially with Zillow's rental package priced below yours? A: Andrew Florance, CEO: We have not seen any loss of share or ability to capture price value at Our product remains strong with high NPS renewal rates and growing bookings. The competitive dynamics involve our competitor purchasing clients at top dollar, but these are low-quality advertisers. We feel confident in our competitive position. Q: What is driving the improvement in Net Promoter Scores (NPS), and where is there still room for improvement? A: Andrew Florance, CEO: The improvement is due to better communication of our value proposition and effective use of our product. Our sales force is relatively new, and as they gain experience, NPS and bookings improve. We are focused on educating agents about the value of marketing real estate online, and the uptake of Matterport offerings is a differentiator. Q: Can you discuss pricing strategies across your business, particularly in multi-family and new homes models? A: Andrew Florance, CEO: We are optimizing pricing based on portfolio size and value. While we are seeing pricing for smaller players at a few hundred dollars a month, larger deals can reach $7,500 to $8,000 a month. We are focusing on penetration rather than maximizing ASP initially, with plans to adjust pricing strategies as we grow. Q: How has the average price for a new membership changed, and what is your broader pricing strategy? A: Andrew Florance, CEO: We focus on profitable growth with high gross margins. Pricing is based on listing value, asset volume, and team size. We have shifted away from buyer agency work pricing and are incorporating rental portfolios into our pricing model. Our strategy is to drive profitable penetration growth, knowing we can capture more value over time. Q: What is the serviceable addressable market for and how are you approaching it with your sales force? A: Andrew Florance, CEO: The addressable market is vast, with 1.5 million agents, of which 500,000 to 750,000 are viable candidates. We aim to build relationships and educate clients on the value of our services. With 750 salespeople, each handling about 1,000 prospects, we are well-positioned to capture a significant market share. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
CoStar Group Inc (CSGP) Q2 2025 Earnings Call Highlights: Record Revenue Growth and Strategic ...
Revenue: $781 million, a 15% increase compared to last year. Adjusted EBITDA: $85 million, a 108% increase compared to Q2 2024. Profit Margin: 43% for commercial information and marketplace businesses. Net New Bookings: $93 million, a 65% increase over the previous quarter. Revenue: $292 million, up 11% from Q2 2024. Revenue Growth: 8% increase compared to Q2 2024. CoStar Product Revenue: $271 million, 7% year-over-year growth. LoopNet Revenue Growth: 8% year-over-year increase. Cash Balance: $3.7 billion as of June 30. Share Repurchase: 585,000 shares repurchased for $45 million in Q2. 2025 Revenue Guidance: Increased to $3.135 billion to $3.155 billion. 2025 Adjusted EBITDA Guidance: Revised to $370 million to $390 million. Warning! GuruFocus has detected 4 Warning Sign with CSGP. Release Date: July 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points CoStar Group Inc (NASDAQ:CSGP) reported a strong 15% increase in revenue, reaching $781 million for Q2 2025, marking the 57th consecutive quarter of double-digit revenue growth. Adjusted EBITDA rose significantly by 108% compared to Q2 2024, reaching $85 million, exceeding consensus estimates and the high end of guidance. achieved an 11% revenue increase from Q2 2024, reaching $292 million, with a strong net new bookings performance. delivered solid sales growth with residential annualized net new bookings totaling $12 million for the quarter, and a significant increase in membership. LoopNet's net new bookings surged by 345% in the first half of 2025 compared to the same period last year, with expectations for revenue growth to exceed 10% in the second half of 2025. Negative Points Matterport, despite being a leading provider of digital twin solutions, has not yet achieved profitability and its growth rate has slowed. The commercial real estate market continues to face challenges, particularly in the office segment with high vacancy rates and negative net absorption rates. Zillow's aggressive tactics in the market raise antitrust concerns, potentially impacting CoStar Group Inc (NASDAQ:CSGP)'s competitive positioning. The integration and streamlining efforts at Matterport involve discontinuing certain non-core revenue streams, impacting revenue expectations. The product is still in its early stages, requiring ongoing efforts to communicate its value proposition effectively to clients. Q & A Highlights Q: Have you observed any signs of wallet share loss in especially with Zillow's rental package priced below yours? A: Andrew Florance, CEO: We have not seen any loss of share or ability to capture price value at Our product remains strong with high NPS renewal rates and growing bookings. The competitive dynamics involve our competitor purchasing clients at top dollar, but these are low-quality advertisers. We feel confident in our competitive position. Q: What is driving the improvement in Net Promoter Scores (NPS), and where is there still room for improvement? A: Andrew Florance, CEO: The improvement is due to better communication of our value proposition and effective use of our product. Our sales force is relatively new, and as they gain experience, NPS and bookings improve. We are focused on educating agents about the value of marketing real estate online, and the uptake of Matterport offerings is a differentiator. Q: Can you discuss pricing strategies across your business, particularly in multi-family and new homes models? A: Andrew Florance, CEO: We are optimizing pricing based on portfolio size and value. While we are seeing pricing for smaller players at a few hundred dollars a month, larger deals can reach $7,500 to $8,000 a month. We are focusing on penetration rather than maximizing ASP initially, with plans to adjust pricing strategies as we grow. Q: How has the average price for a new membership changed, and what is your broader pricing strategy? A: Andrew Florance, CEO: We focus on profitable growth with high gross margins. Pricing is based on listing value, asset volume, and team size. We have shifted away from buyer agency work pricing and are incorporating rental portfolios into our pricing model. Our strategy is to drive profitable penetration growth, knowing we can capture more value over time. Q: What is the serviceable addressable market for and how are you approaching it with your sales force? A: Andrew Florance, CEO: The addressable market is vast, with 1.5 million agents, of which 500,000 to 750,000 are viable candidates. We aim to build relationships and educate clients on the value of our services. With 750 salespeople, each handling about 1,000 prospects, we are well-positioned to capture a significant market share. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
CoStar (CSGP) Reports Q2 Earnings: What Key Metrics Have to Say
CoStar Group (CSGP) reported $781.3 million in revenue for the quarter ended June 2025, representing a year-over-year increase of 15.3%. EPS of $0.17 for the same period compares to $0.15 a year ago. The reported revenue represents a surprise of +1.25% over the Zacks Consensus Estimate of $771.67 million. With the consensus EPS estimate being $0.14, the EPS surprise was +21.43%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how CoStar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Revenues- CoStar: $270.9 million versus $267.89 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7.1% change. Revenues- Information Services: $39.3 million versus $36.74 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +17.7% change. Revenues- Other Marketplaces: $74.7 million compared to the $50.2 million average estimate based on two analysts. The reported number represents a change of +139.4% year over year. Revenues- LoopNet: $75.7 million versus $74.65 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.5% change. Revenues- Residential: $28.4 million versus $31.02 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.4% change. Revenues- Multifamily: $292.3 million compared to the $293.26 million average estimate based on two analysts. The reported number represents a change of +10.6% year over year. View all Key Company Metrics for CoStar here>>> Shares of CoStar have returned +6.2% over the past month versus the Zacks S&P 500 composite's +5.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CoStar Group, Inc. (CSGP) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
