COSTAR GROUP, INC.
For the period ended Sep 30, 2025. Filed Oct 29, 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.
Sep 30, 2025 · Filed Oct 29, 2025
CSGP$30.33-2.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities: | ||
| Net income (loss) | $(39.5) | $78.9 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 182.0 | 107.6 |
| Amortization of deferred commissions costs | 110.4 | 86.1 |
| Non-cash lease expense | 22.3 | 25.1 |
| Stock-based compensation expense | 153.0 | 67.3 |
| Deferred income taxes, net | 5.4 | (15.4) |
| Credit loss expense | 25.9 | 25.8 |
| Other operating activities, net | (5.9) | 1.7 |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Accounts receivable | (32.3) | (13.7) |
| Prepaid expenses, other current assets and other assets | (19.2) | (8.2) |
| Deferred commissions | (117.2) | (91.7) |
| Accounts payable and other liabilities | 10.9 | 57.9 |
| Lease liabilities | (23.8) | (29.9) |
| Income taxes payable, net | (21.2) | (1.7) |
| Deferred revenue | 17.1 | 8.2 |
| Net cash provided by operating activities | 267.9 | 298.0 |
| Investing activities: | ||
| Proceeds from sale and settlement of investments | 203.4 | — |
| Proceeds from sale of property, equipment, and other assets | 1.3 | 1.4 |
| Purchases of property, equipment, and other assets for new campuses | (246.2) | (509.6) |
| Purchases of property, equipment, and other assets | (76.3) | (49.5) |
| Purchases of equity securities | (284.8) | — |
| Cash paid for acquisitions, net of cash acquired | (2,347.2) | (5.1) |
| Net cash used in investing activities | (2,749.8) | (562.8) |
| Financing activities: | ||
| Payments of debt issuance costs | — | (3.4) |
| Repurchase of restricted stock to satisfy tax withholding obligations | (64.2) | (28.7) |
| Stock repurchase | (115.0) | — |
| Proceeds from exercise of stock options and employee stock purchase plan | 20.4 | 21.7 |
| Principal repayments of financing lease obligations | (3.3) | (3.4) |
| Net cash used in financing activities | (162.1) | (13.8) |
| Effect of foreign currency exchange rates on cash, cash equivalents, and restricted cash | (2.2) | 0.3 |
| Net decrease in cash, cash equivalents, and restricted cash | (2,646.2) | (278.3) |
| 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 | $2,034.8 | $4,937.6 |
| Supplemental cash flow disclosures: | ||
| Interest paid | $29.5 | $29.8 |
| Income taxes paid | $56.4 | $63.4 |
| Supplemental non-cash investing and financing activities: | ||
| Accrued capital expenditures and non-cash landlord incentives | $80.5 | $47.8 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.