ZILLOW GROUP, INC.

For the period ended Jun 30, 2025. Filed Aug 6, 2025.

About this filing

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.

Jun 30, 2025 · Filed Aug 6, 2025

ZG$29.51-5.7%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations

(in millions, except share data, which are presented in thousands, and per share data, unaudited)

	Three Months EndedJune 30,		Six Months EndedJune 30,
	2025	2024	2025	2024
Revenue:
For Sale revenue:
Residential	$434	$409	$851	$802
Mortgages	48	34	89	65
Total For Sale revenue	482	443	940	867
Rentals	159	117	288	214
Other	14	12	25	20
Total revenue	655	572	1,253	1,101
Cost of revenue	166	130	305	253
Gross profit	489	442	948	848
Operating expenses:
Sales and marketing	226	205	424	371
Technology and development	153	144	302	291
General and administrative	121	131	242	263
Impairment costs	—	—	—	6
Total operating expenses	500	480	968	931
Loss from operations	(11)	(38)	(20)	(83)
Loss on extinguishment of debt	—	(1)	—	(1)
Other income, net	18	34	40	67
Interest expense	(5)	(10)	(10)	(19)
Income (loss) before income taxes	2	(15)	10	(36)
Income tax expense	—	(2)	—	(4)
Net income (loss)	$2	$(17)	$10	$(40)
Net income (loss) per share:
Basic	$0.01	$(0.07)	$0.04	$(0.17)
Diluted	$0.01	$(0.07)	$0.04	$(0.17)
Weighted-average shares outstanding:
Basic	241,083	233,453	241,667	234,074
Diluted	251,665	233,453	253,916	234,074

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.