CSGP CoStar (CSGP) Q4 FY25 earnings call
CoStar Group delivered strong Q4 FY25 results, marked by record bookings and double-digit revenue growth across both commercial and residential segments. The company is making substantial strategic investments in AI-powered products like Homes AI and expanding its global footprint, particularly in Australia and Europe. While these investments are expected to impact near-term profitability, especially in the residential segment, management anticipates significant EBITDA expansion and long-term value creation, leveraging its proprietary data moat.
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CSGP operating KPIs by quarter
| KPI | This call Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Monthly renewal rate Apartments.com | 99%This increase in properties, coupled with our 99% monthly renewal rate and 92 NPS confirms that property owners and managers understand the value of the Apartments.com site built specifically for the apartment industry.Source: earnings call transcript | — | 99%Apartments ended the quarter with nearly 93,000 paid properties, up 12% year-over-year, sustaining 18 months of adding approximately 1,000 paid properties each month with monthly renewal rates holding strong at 99%.Source: earnings call transcript | — |
| Promoted active listings Homes.com | 216KHomes.com subscribers paid to promote 216,000 active listings, representing 9.4% of 2.3 million homes for sale in the US in Q4 '25.Source: earnings call transcript | 260KHomes.com subscribers paid to promote 260,000 active listings in Q1, representing 8.7% of the nearly 3 million homes for sale in the US In 2025, the Homes.com network grew nearly 2.1 billion views and 108 million average monthly unique visitors.Source: earnings call transcript | <305KSubscribers paid to promote close to 305,000 active listings in Q2.Source: earnings call transcript | — |
| Agent subscribers Homes.com | 31K+We now have over 31,000 agent subscribers generating $100 million in annualized revenue run rate with 76% of them on annual contracts.Source: earnings call transcript | — | 36K+We now have over 36,000 agent subscribers, up 107% from a year ago.Source: earnings call transcript | — |
| Contract renewal rate | — | 89%Our contract renewal rate has held consistently at 89% for the past 7 quarters.Source: earnings call transcript | 89%Our contract renewal rate remains strong at 89%, with customers of five years or more renewing at 94% Subscription revenue on annual contracts was 72% for the second quarter, consistent with post-domain acquisition subscription rates.Source: earnings call transcript | 0 pt |
| Renewal rate Customers with 5+ Years Subscription | 95%Our contract renewal rate was 89% in the fourth quarter of 2025, and customers who have been subscribers for 5 years or longer have a 95% renewal rate.Source: earnings call transcript | 95%Customers who have been subscribers for at least 5 years have an impressive 95% renewal rate.Source: earnings call transcript | 94%Our contract renewal rate remains strong at 89%, with customers of five years or more renewing at 94% Subscription revenue on annual contracts was 72% for the second quarter, consistent with post-domain acquisition subscription rates.Source: earnings call transcript | -1 pt |
| Net new bookings | $75MNet new bookings for the fourth quarter were $75 million, a 42% year-over-year increase.Source: earnings call transcript | $67MQ1 net bookings of $67 million were up 20% year-over-year.Source: earnings call transcript | $69MNet new bookings for the quarter were $69 million, up 3% from the first quarter.Source: earnings call transcript | +3% |
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