Jun 2026 (Q2 FY26) — Jul 28, 2026
CoStar Group Q2 FY26 — Profitability Inflection and Strong EBITDA Growth
Read the full callCoStar Group (CSGP) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
CoStar Group earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 925 | +18.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 8.2 | +11.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 55.0 | +816.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
54 of 60 judged targets kept · 55 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Apartments AI conversational search launch | launch ahead of the June Apartmentalize trade show | Mar 2026 | Leveraging our successful Homes AI technology, we introduced Apartments.com Ai at the event, an immersive conversational search experience that help renters find, understand, compare and contact properties through natural dialogue or text. | Achieved |
| Full-year Commercial segment revenue | $1.955 billion to $1.975 billion | Dec 2025 | Commercial revenue is expected to range from $1.94 billion to $1.96 billion, a 9% increase at the midpoint | Revised Down |
| Full-year adjusted earnings per share | $1.32 to $1.39 per share | Mar 2026 | We are also affirming our full year adjusted EPS guidance range of $1.32 to $1.39. | On Track |
6 of COSTAR GROUP, INC.'s 115 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 112 more targets are in the full ledger.
Claimed
- Adjusted EBITDA more than doubled year-over-year to $184 million, the second highest quarterly level in company history.
- Residential segment achieved positive adjusted EBITDA of $12 million for the first time, driven by strong revenue growth of 33% year-over-year to $440 million.
- CoStar Debt Solutions delivered its best quarter ever with over $4 million in net new monthly bookings, up 96% year-over-year.
- Homes.com monthly cancel rate dropped to a record low of 2.4% in June, down from 6.5% in June 2025, indicating strong agent ROI.
- Apartments.com delivered 2.5x lead-to-lease conversion rate compared to its next closest competitor, maintaining price integrity despite competitive discounting.
Qualified
- Net new bookings for the quarter were $69 million, up 3% sequentially but down roughly 26% year-over-year, primarily due to Ten-X restructuring and Homes.com sales force optimization.
- Ten-X revenue declined by $4 million in Q2 due to restructuring efforts, partially offsetting commercial revenue growth.
- Apartments.com average revenue per property was down 3.6% year-over-year, primarily due to a mix shift in sales to smaller communities.
- The multifamily market is stressed with elevated supply, widespread concessions (40% of communities), and increased price sensitivity among property owners.
- Homes.com sales force was reduced from 660 reps at the end of Q4 2025 to approximately 400, impacting near-term revenue growth as the company optimizes for productivity.
Price
$32 +6.28% · +$1.89
Performance −57.7% 1Y
1Y: $75.73 on 14 Oct 2025 → $32. High $78.23 (28 Oct 2025), low $26.95 (29 Sept 2026).
- Previous close
- $30.11
- 52-week range
- $26.95 – $78.23
- One year
- −57.44%
Overview
- Symbol
- CSGP
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
54 of 60 judged targets kept · 55 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Apartments AI conversational search launch | launch ahead of the June Apartmentalize trade show | Mar 2026 | Leveraging our successful Homes AI technology, we introduced Apartments.com Ai at the event, an immersive conversational search experience that help renters find, understand, compare and contact properties through natural dialogue or text. | Achieved |
| Full-year Commercial segment revenue | $1.955 billion to $1.975 billion | Dec 2025 | Commercial revenue is expected to range from $1.94 billion to $1.96 billion, a 9% increase at the midpoint | Revised Down |
| Full-year adjusted earnings per share | $1.32 to $1.39 per share | Mar 2026 | We are also affirming our full year adjusted EPS guidance range of $1.32 to $1.39. | On Track |
Claimed
- Adjusted EBITDA more than doubled year-over-year to $184 million, the second highest quarterly level in company history.
- Residential segment achieved positive adjusted EBITDA of $12 million for the first time, driven by strong revenue growth of 33% year-over-year to $440 million.
- CoStar Debt Solutions delivered its best quarter ever with over $4 million in net new monthly bookings, up 96% year-over-year.
- Homes.com monthly cancel rate dropped to a record low of 2.4% in June, down from 6.5% in June 2025, indicating strong agent ROI.
- Apartments.com delivered 2.5x lead-to-lease conversion rate compared to its next closest competitor, maintaining price integrity despite competitive discounting.
Qualified
- Net new bookings for the quarter were $69 million, up 3% sequentially but down roughly 26% year-over-year, primarily due to Ten-X restructuring and Homes.com sales force optimization.
- Ten-X revenue declined by $4 million in Q2 due to restructuring efforts, partially offsetting commercial revenue growth.
- Apartments.com average revenue per property was down 3.6% year-over-year, primarily due to a mix shift in sales to smaller communities.
- The multifamily market is stressed with elevated supply, widespread concessions (40% of communities), and increased price sensitivity among property owners.
- Homes.com sales force was reduced from 660 reps at the end of Q4 2025 to approximately 400, impacting near-term revenue growth as the company optimizes for productivity.
The full ledger
Open COSTAR GROUP, INC.’s full ledger
A free account opens 5 company ledgers a month. All 115 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 28, 2026
CoStar Group Q1 FY26 — Double-Digit Growth Continues, Homes.com Investment Delivering Strong ROI
Read the full callDec 2025 (Q4 FY25) — Feb 24, 2026
CoStar Q4 FY25 — Record Bookings and AI-Driven Growth Amidst Strategic Investments
Read the full callEvery analysed call
CoStar Group earnings calls (CSGP)
Financials
What the filings say
Net profit, year on year: +817% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 693 | 709 | 732 | 781 | 834 | 900 | 897 | 925 |
| Operating profit | 24 | 40 | -43 | -27 | -51 | 49 | 3 | 76 |
| Operating margin | 3.4% | 5.6% | −5.9% | −3.5% | −6.1% | 5.5% | 0.3% | 8.2% |
| Interest | 6 | 6 | 6 | 5 | 4 | 4 | 4 | 12 |
| Profit before tax | 78 | 85 | -7 | 22 | -46 | 61 | 12 | 74 |
| Tax rate | 31.8% | 29.6% | −114.3% | 72.7% | 32.5% | 23.6% | 75.0% | 25.7% |
| Net profit | 53 | 60 | -15 | 6 | -31 | 47 | 3 | 55 |
| EPS ($ per share) | 0.13 | — | -0.04 | 0.01 | -0.07 | — | 0.01 | 0.14 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 613 | 940 | 1,168 | 1,460 | 1,830 | 2,204 | 2,343 | 2,350 |
| Total liabilities | 291 | 448 | 1,540 | 1,545 | 1,533 | 1,581 | 1,704 | 2,167 |
| Fixed assets | 83 | 108 | 126 | 271 | 321 | 472 | 1,015 | 1,323 |
| Total assets | 3,313 | 3,854 | 6,915 | 7,257 | 8,403 | 8,920 | 9,257 | 10,538 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 335 | 458 | 486 | 470 | 479 | 490 | 393 | 430 |
| Cash from investing | -448 | -484 | -464 | -381 | -69 | -239 | -913 | -2,816 |
| Cash from financing | 3 | -4 | 2,662 | -16 | 734 | -4 | -14 | -559 |
| Net cash flow | -111 | -30 | 2,685 | 71 | 1,141 | 248 | -535 | -2,948 |
| Capital expenditure | -30 | 0 | 0 | -124 | -35 | -118 | -579 | -307 |
| Free cash flow | 306 | 458 | 486 | 346 | 444 | 372 | -186 | 123 |
CSGP revenue by segment
| Segment | Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Commercial Real Estate | — | — | — | — | — | — | — | 52% | — |
| Residential Real Estate | — | — | — | — | — | — | — | 48% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CSGP operating KPIs by quarter
| KPI | 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% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- Non Us 16% ↑ 11 pt
As CSGP cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
52 filings between Nov 13, 2025 and Aug 7, 2026.
Open market
decisions to buy or sellPurchases
$8.48M
7 purchases by 4 insiders
Sales
$534.3K
4 sales by 2 insiders
Compensation
not trading decisions- 12
- Award — granted as compensation
- 25
- Tax withheld — shares kept back by the company to cover tax
Also filed: 4 dispositions to the issuer.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| FLORANCE ANDREW C | $7.48M | — | Aug 4, 2026 |
| SAINT FREDERICK G. | $906.6K | — | Mar 2, 2026 |
| Cann Cynthia Cammett | — | $274.0K | Aug 7, 2026 |
| Hill John W | — | $260.3K | Aug 5, 2026 |
| Sams Louise S | $48.4K | — | Mar 6, 2026 |
| Glaser Rachel C | $44.9K | — | Mar 2, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 7, 2026 | Cann Cynthia Cammett Chief Accounting Officer | Sale | 4,788 | $147.4K |
| Aug 5, 2026 | Hill John W Director | Sale | 3,500 | $105.7K |
| Aug 4, 2026 | FLORANCE ANDREW C Founder and CEO | Purchase | 83,300 | $2.49M |
| Aug 1, 2026 | SAINT FREDERICK G. President, Marketplaces | Tax withheld | 1,436 | $41.3K |
| Aug 1, 2026 | Cann Cynthia Cammett Chief Accounting Officer | Tax withheld | 1,077 | $31.0K |
| Jul 1, 2026 | LOWN CHRISTIAN M. Chief Financial Officer | Tax withheld | 5,597 | $164.3K |
| Jun 23, 2026 | Hill John W Director | Award | 8,262 | $0 |
| Jun 23, 2026 | Glaser Rachel C Director | Award | 8,262 | $0 |
| Jun 23, 2026 | Brunner Angelique G. Director | Award | 8,262 | $0 |
| Jun 23, 2026 | McCarthy Christine M Director | Award | 8,262 | $0 |
| Jun 23, 2026 | Sams Louise S Director | Award | 8,262 | $0 |
| Jun 23, 2026 | Musslewhite Robert W Director | Award | 8,262 | $0 |
| Jun 23, 2026 | BERISFORD JOHN L Director | Award | 8,262 | $0 |
| Jun 15, 2026 | Cann Cynthia Cammett Chief Accounting Officer | Tax withheld | 461 | $14.8K |
| May 1, 2026 | FLORANCE ANDREW C President and CEO | Purchase | 68,330 | $2.40M |
| May 1, 2026 | FLORANCE ANDREW C President and CEO | Purchase | 3,100 | $111.0K |
| Mar 15, 2026 | SIMURO FRANK Chief Technology Officer | Tax withheld | 11,107 | $484.6K |
| Mar 15, 2026 | Ruggles Lisa Senior VP, Global Operations | Tax withheld | 2,977 | $129.9K |
| Mar 15, 2026 | Cann Cynthia Cammett Chief Accounting Officer | Tax withheld | 1,194 | $52.1K |
| Mar 15, 2026 | Boxer Gene General Counsel and Secretary | Tax withheld | 482 | $21.0K |
| Mar 15, 2026 | DESMARAIS MICHAEL J Chief Human Resources Officer | Tax withheld | 2,873 | $125.3K |
| Mar 10, 2026 | FLORANCE ANDREW C President and CEO | Award | 124,162 | — |
| Mar 10, 2026 | DESMARAIS MICHAEL J Chief Human Resources Officer | Award | 17,676 | — |
| Mar 10, 2026 | Boxer Gene General Counsel and Secretary | Award | 21,920 | — |
| Mar 10, 2026 | LOWN CHRISTIAN M. Chief Financial Officer | Award | 12,268 | — |
| Mar 10, 2026 | Cann Cynthia Cammett Chief Accounting Officer | Award | 4,374 | — |
| Mar 6, 2026 | Sams Louise S Director | Purchase | 1,000 | $48.4K |
| Mar 2, 2026 | Glaser Rachel C Director | Purchase | 1,000 | $44.9K |
| Mar 2, 2026 | SAINT FREDERICK G. President, Marketplaces | Purchase | 20,000 | $906.6K |
| Mar 1, 2026 | Cann Cynthia Cammett Chief Accounting Officer | Tax withheld | 1,385 | $61.8K |
| Mar 1, 2026 | FLORANCE ANDREW C President and CEO | Tax withheld | 59,593 | $2.66M |
| Mar 1, 2026 | Ruggles Lisa Senior VP, Global Operations | Tax withheld | 8,931 | $398.6K |
| Mar 1, 2026 | SIMURO FRANK Chief Technology Officer | Tax withheld | 18,702 | $834.7K |
| Mar 1, 2026 | LOWN CHRISTIAN M. Chief Financial Officer | Tax withheld | 7,175 | $320.2K |
| Mar 1, 2026 | Boxer Gene General Counsel and Secretary | Tax withheld | 4,547 | $202.9K |
| Mar 1, 2026 | SAINT FREDERICK G. President, Marketplaces | Tax withheld | 11,096 | $495.2K |
| Mar 1, 2026 | DESMARAIS MICHAEL J Chief Human Resources Officer | Tax withheld | 6,353 | $283.5K |
| Feb 27, 2026 | FLORANCE ANDREW C President and CEO | Purchase | 55,720 | $2.48M |
| Feb 19, 2026 | Ruggles Lisa Senior VP, Global Operations | Tax withheld | 3,219 | $158.0K |
| Feb 19, 2026 | SIMURO FRANK Chief Technology Officer | Disposition to issuer | 30,727 | $0 |
| Feb 19, 2026 | FLORANCE ANDREW C President and CEO | Tax withheld | 19,221 | $943.2K |
| Feb 19, 2026 | Ruggles Lisa Senior VP, Global Operations | Disposition to issuer | 17,583 | $0 |
| Feb 19, 2026 | SAINT FREDERICK G. President, Marketplaces | Disposition to issuer | 17,583 | $0 |
| Feb 19, 2026 | FLORANCE ANDREW C President and CEO | Disposition to issuer | 104,983 | $0 |
| Feb 19, 2026 | SAINT FREDERICK G. President, Marketplaces | Tax withheld | 2,149 | $105.5K |
| Feb 19, 2026 | SIMURO FRANK Chief Technology Officer | Tax withheld | 4,421 | $216.9K |
| Feb 15, 2026 | SIMURO FRANK Chief Technology Officer | Tax withheld | 4,151 | $186.8K |
| Feb 15, 2026 | Ruggles Lisa Senior VP, Global Operations | Tax withheld | 3,576 | $160.9K |
| Feb 15, 2026 | SAINT FREDERICK G. President, Marketplaces | Tax withheld | 2,424 | $109.1K |
| Feb 15, 2026 | FLORANCE ANDREW C President and CEO | Tax withheld | 17,482 | $786.5K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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