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

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

See the whole filing, with its images and exhibits

Contents

Condensed Consolidated Statements of Operations

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

	Three Months EndedSeptember 30,		Nine Months EndedSeptember 30,
	2025	2024	2025	2024
Revenue:
For Sale revenue:
Residential	$435	$405	$1,286	$1,207
Mortgages	53	39	142	104
Total For Sale revenue	488	444	1,428	1,311
Rentals	174	123	462	337
Other	14	14	39	34
Total revenue	676	581	1,929	1,682
Cost of revenue	185	140	490	393
Gross profit	491	441	1,439	1,289
Operating expenses:
Sales and marketing	214	217	638	588
Technology and development	151	145	453	436
General and administrative	127	123	369	386
Impairment costs	2	—	2	6
Acquisition-related costs	—	1	—	1
Total operating expenses	494	486	1,462	1,417
Loss from operations	(3)	(45)	(23)	(128)
Loss on extinguishment of debt	—	—	—	(1)
Other income, net	18	34	58	101
Interest expense	(3)	(9)	(13)	(28)
Income (loss) before income taxes	12	(20)	22	(56)
Income tax expense	(2)	—	(2)	(4)
Net income (loss)	$10	$(20)	$20	$(60)
Net income (loss) per share:
Basic	$0.04	$(0.08)	$0.08	$(0.26)
Diluted	$0.04	$(0.08)	$0.08	$(0.26)
Weighted-average shares outstanding:
Basic	242,326	232,521	241,889	233,553
Diluted	256,243	232,521	254,700	233,553

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.