ZILLOW GROUP, INC.
For the period ended Jun 30, 2025. Filed Aug 6, 2025.
View on SEC.govAbout 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
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Property and Equipment, Net
Note 4. Property and Equipment, Net
The following table presents the detail of property and equipment, net as of the dates presented (in millions):
| June 30, 2025 | December 31, 2024 | |
|---|---|---|
| Website development costs | $597 | $564 |
| Leasehold improvements | 32 | 45 |
| Computer equipment | 17 | 18 |
| Office equipment, furniture and fixtures | 12 | 16 |
| Construction-in-progress | 4 | — |
| Property and equipment | 662 | 643 |
| Less: accumulated amortization and depreciation | (289) | (283) |
| Property and equipment, net | $373 | $360 |
We recorded depreciation expense related to property and equipment (other than website development costs) of $3 million and $4 million for the three months ended June 30, 2025 and 2024, respectively, and $7 million and $8 million for the six months ended June 30, 2025 and 2024, respectively.
We capitalized website development costs of $51 million and $54 million for the three months ended June 30, 2025 and 2024, respectively, and $99 million and $106 million for the six months ended June 30, 2025 and 2024, respectively. Amortization expense for website development costs included in cost of revenue was $42 million and $36 million for the three months ended June 30, 2025 and 2024, respectively, and $83 million and $69 million for the six months ended June 30, 2025 and 2024, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.