COSTAR GROUP INC
For the period ended Mar 31, 2025. Filed May 1, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 1, 2025
CSGP$30.55-4.7%Stored close · as of Nov 6, 2026
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Glossary of Terms
The following abbreviations or acronyms used in this Quarterly Report on Form 10-Q (this“Report”) are defined below:
| Abbreviation or Acronym | Definition |
|---|---|
| 2024 Credit Agreement | The credit agreement the Company entered into on May 24, 2024 |
| 2024 Form 10-K | CoStar Group's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 19, 2025 |
| Assumed 2021 Plans | The Matterport, Inc. 2021 Incentive Award Plan and Matterport, Inc. Amended and Restated 2011 Stock Incentive Plan assumed by CoStar Group in connection with the Matterport Acquisition |
| AI | Artificial Intelligence |
| ASC | Accounting Standards Codification |
| ASU | Accounting Standards Update |
| BizBuySell Network | BizBuySell.com and its network of business for-sale websites |
| Board of Directors | The CoStar Group Board of Directors |
| CECL | Current expected credit losses |
| CODM | Chief Operating Decision Maker |
| CoStar Group (also the “Company,” “we,” “us”, or “our”) | The legal entity, CoStar Group, Inc., a Delaware corporation, one or more of its consolidated subsidiaries or operating segments, or the entirety of CoStar Group, Inc. and its consolidated subsidiaries |
| CoStar Group Share | A share of the common stock of the Company, par value $0.01 per share |
| CoStar UK | The legal entity CoStar UK Limited, a wholly owned subsidiary of CoStar Group |
| CRI | The legal entity CoStar Realty Information, Inc., a Delaware corporation and wholly owned subsidiary of CoStar Group, Inc. |
| Domain | Domain Holdings Australia Limited |
| Domain Proposal | The Company’s non-binding indicative proposal to acquire 100% of the issued capital of Domain by way of scheme of arrangement for a cash consideration of $4.43 per ordinary share of Domain. |
| Domain Transaction | The transactions entered into by the Company to acquire Domain pursuant to the Domain Proposal. |
| DSUs | Deferred Stock Units |
| EBITDA | Net (loss) income before interest income or expense, net; other income or expense, net; loss on debt extinguishment; income taxes; depreciation; and amortization |
| ESG | Environmental, Social, and Governance |
| ESPP | Employee Stock Purchase Plan |
| EURIBOR | Euro Interbank Offered Rate |
| Exchange Act | The Securities Exchange Act of 1934, as amended |
| Exclusivity Deed | Exclusivity and process deed entered into between the Company and Domain in connection with the Domain Proposal. |
| FASB | Financial Accounting Standards Board |
| GAAP | Generally accepted accounting principles in the U.S. |
| GILTI | Global intangible low taxed income inclusion |
| Homes.com | The flagship brand of our North American residential products and a homes for-sale listings site, which manages workflow and marketing for residential real estate agents and brokers and allows homebuyers to view residential property listings, research communities, and connect with real estate agents and brokers |
| Land.com Network | Our network of sites featuring rural lands for sale including Land.com, LandsofAmerica, LandAndFarm, and LandWatch |
| Matching RSUs | Awards of matching restricted stock units awarded under the Company's Management Stock Purchase Plan |
| Abbreviation or Acronym | Definition |
|---|---|
| Matterport or Matterport, Inc. | The legal entity Matterport, Inc., a Delaware corporation and provider of a technology platform that uses spatial data to transform physical buildings and spaces into dimensionally accurate, digital images |
| Matterport Acquisition | CoStar's acquisition of Matterport completed on February 28, 2025, pursuant to the Matterport Merger Agreement |
| Matterport Common Stock | Matterport Class A common stock, par value $0.0001 per share |
| Matterport Merger Exchange Ratio | A ratio of 0.03552 which was determined by the Matterport Merger Agreement and was set on the collar floor as the volume-weighted average price at which the CoStar Group Shares traded on the Nasdaq Global Select Market for the 20 consecutive Trading Days was below the Floor Price of the a symmetrical collar of $77.42 |
| Matterport Merger Agreement | The Agreement and Plan of Merger dated as of April 21, 2024, by and among the Company, Matterport, Merger Sub I, and Merger Sub II, pursuant to which the Company completed the Matterport Acquisition |
| Merger Sub I | Matrix Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company |
| Merger Sub II | Matrix Merger Sub II LLC, a Delaware limited liability company and wholly owned subsidiary of the Company |
| MLS | Multiple listing services |
| MSPP | Management Stock Purchase Plan |
| OnTheMarket | The legal entity OnTheMarket Limited, the operator of onthemarket.com, a U.K. residential property portal |
| ROU | Right-of-use |
| SEC | The U.S. Securities and Exchange Commission |
| Securities Act | The Securities Act of 1933, as amended |
| Senior Notes | 2.800% notes issued by CoStar Group, Inc. due July 15, 2030 |
| SOFR | Secured Overnight Financing Rate |
| SONIA | Sterling Overnight Index Average |
| Stock Repurchase Program | The stock repurchase program the Company’s Board of Directors approved in February 2025 that authorizes the repurchase of up to $500 million of shares of the Company’s common stock |
| STR | The legal entity STR, LLC together with STR Global Ltd is a global data and analytics company that specializes in benchmarking hotel performance and providing market insights to the industry |
| Ten-X | The legal entity Ten-X Holding Company, Inc. and its directly and indirectly owned subsidiaries |
| Term SOFR | The forward-looking SOFR term rates administered by CME Group Benchmark Administration Limited |
| U.K. | The United Kingdom of Great Britain and Northern Ireland |
| U.S. | The United States of America |
| Visual Lease | The legal entity Visual Lease, LLC, a Delaware limited liability company and operator of Visual Lease, a SaaS platform for integrated lease management and lease accounting |
| Visual Lease Acquisition | CoStar's acquisition of all of the outstanding equity interest in Visual Lease completed on November 1, 2024, pursuant to the Visual Lease Merger Agreement |
| Visual Lease Merger Agreement | The Agreement and Plan of Merger dated as of October 18, 2024, between CRI; Neptune Merger Sub; Visual Lease, LLC; and Shareholder Representative Services LLC as the Holder Representative, pursuant to which, among other things, and subject to its terms, Neptune Merger Sub merged with and into Visual Lease with Visual Lease surviving the merger as a wholly-owned subsidiary of the CRI |
PART I — FINANCIAL INFORMATION
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