ZILLOW GROUP, INC.

For the period ended Sep 30, 2025. Filed Oct 30, 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.

Sep 30, 2025 · Filed Oct 30, 2025

ZG$31.28+3.0%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Balance Sheets

(in millions, except share data, unaudited)

	September 30, 2025	December 31, 2024
Assets
Current assets:
Cash and cash equivalents	$874	$1,082
Short-term investments	515	776
Accounts receivable, net	157	104
Mortgage loans held for sale	291	159
Prepaid expenses and other current assets	277	210
Restricted cash	5	3
Total current assets	2,119	2,334
Contract cost assets	27	25
Property and equipment, net	371	360
Right of use assets	58	59
Goodwill	2,823	2,823
Intangible assets, net	273	207
Other assets	27	21
Total assets	$5,698	$5,829
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable	$38	$30
Accrued expenses and other current liabilities	133	105
Accrued compensation and benefits	59	57
Borrowings under credit facilities	272	145
Deferred revenue	69	62
Lease liabilities, current portion	13	14
Convertible senior notes	—	418
Total current liabilities	584	831
Lease liabilities, net of current portion	82	83
Other long-term liabilities	40	67
Total liabilities	706	981
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred stock, $0.0001 par value; authorized — 30,000,000 shares; no shares issued and outstanding	—	—
Class A common stock, $0.0001 par value; authorized — 1,245,000,000 shares; issued and outstanding — 49,633,032 and 54,333,292 shares as of September 30, 2025 and December 31, 2024, respectively	—	—
Class B common stock, $0.0001 par value; authorized — 15,000,000 shares; issued and outstanding — 6,217,447 shares	—	—
Class C capital stock, $0.0001 par value; authorized — 600,000,000 shares; issued and outstanding — 186,184,854 and 181,937,981 shares as of September 30, 2025 and December 31, 2024, respectively	—	—
Additional paid-in capital	6,852	6,733
Accumulated other comprehensive income (loss)	2	(3)
Accumulated deficit	(1,862)	(1,882)
Total shareholders’ equity	4,992	4,848
Total liabilities and shareholders’ equity	$5,698	$5,829

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.