CoStar Group said revenue for the 3 months ended September 30, 2024 rose $68 million, or 11%, to $693 million. Multifamily revenue rose $37 million, CoStar revenue rose $24 million, and Residential revenue rose $17 million, while Information Services revenue fell $12 million.

10-QQuarterly reportFiled Oct 23, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

CoStar Group said revenue for the 3 months ended September 30, 2024 rose $68 million, or 11%, to $693 million. Multifamily revenue rose $37 million, CoStar revenue rose $24 million, and Residential revenue rose $17 million, while Information Services revenue fell $12 million.
The company said selling and marketing expenses (excluding customer base amortization) for the 3 months rose $64 million, or 24%, to $331 million, and that the ratio of these expenses to revenue increased from 43% to 48%. Of this, the increase in advertising and marketing expenses was $38 million.
CoStar Group said cash flow from operating activities for the 9 months was $298 million, down $43 million from $341 million in the same period of the prior year. Cash used in investing activities was $563 million. The company attributed the main cause to higher spending related to its new campus, which was $448 million (including the $343 million purchase of an Arlington building).
CoStar Group estimated the cash consideration for the Matterport acquisition at $940 million, excluding the Fractional Share Consideration. The company said the purchase price for the Visual Lease acquisition, which was entered into on October 18, 2024, is $272.5 million in cash. The company said it plans to fund both transactions with cash on hand.

Key figures

Quarter ended September 30, 2024

Revenue: $693M
Operating income: $24M
Net income: $53M
EPS: $0.13
Gross profit: $552M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q3 Revenue $693 million, Segment Changes

CoStar Group said revenue for the 3 months ended September 30, 2024 rose $68 million, or 11%, to $693 million. Multifamily revenue rose $37 million, CoStar revenue rose $24 million, and Residential revenue rose $17 million, while Information Services revenue fell $12 million.

Source · Based on the MD&A text of the filing

Q3 Selling and Marketing Expenses and Ratio to Revenue

The company said selling and marketing expenses (excluding customer base amortization) for the 3 months rose $64 million, or 24%, to $331 million, and that the ratio of these expenses to revenue increased from 43% to 48%. Of this, the increase in advertising and marketing expenses was $38 million.

Source · Based on the MD&A text of the filing

Operating Cash Flow and Investing Cash Use for 9 Months

CoStar Group said cash flow from operating activities for the 9 months was $298 million, down $43 million from $341 million in the same period of the prior year. Cash used in investing activities was $563 million. The company attributed the main cause to higher spending related to its new campus, which was $448 million (including the $343 million purchase of an Arlington building).

Source · Based on the MD&A text of the filing

Matterport and Visual Lease Acquisition Agreements

CoStar Group estimated the cash consideration for the Matterport acquisition at $940 million, excluding the Fractional Share Consideration. The company said the purchase price for the Visual Lease acquisition, which was entered into on October 18, 2024, is $272.5 million in cash. The company said it plans to fund both transactions with cash on hand.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.