Short answer
CoStar Group (CSGP) filed its Q3 2025 10-Q quarterly report on Oct 29, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $834M (up 20.4% year over year) with net income of −$31M.
Q3 2025 key financials · XBRL
- Revenue
- $834M
- +20.4% YoY · +6.7% QoQ
- Net income
- −$31M
- −158.3% YoY · −598.4% QoQ
- Operating margin
- -6.1%
- Gross margin
- 79.3%
- EPS (diluted)
- −$0.07
- −153.8% YoY · −450.0% QoQ
Source: XBRL data from the CoStar Group (CSGP) Q3 2025 10-Q on SEC EDGAR. USD.
CoStar Group Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $834M, up $141M (20%) YoY; driven by Other (+$46M, 142%, Matterport Acquisition), Multifamily (+$31M, 11%), Residential (+$27M, 98%), CoStar (+$20M, 8%), LoopNet (+$8M, 12%), Info Services (+$8M, 25%)
- Gross margin 79% vs 80% YoY; gross profit $661M, up $109M (20%); increased costs included $13M amortization (Matterport, Domain acquisitions)
- Best performing segment: Residential revenue +$27M (98%) YoY driven by Domain Acquisition and Homes.com growth; Worst: EBITDA North America down 48% to $33M on higher expenses
- Cash & equivalents $2.0B down from $4.7B Dec’24; operating cash flow $268M (down $30M YoY); investing cash outflow $2.7B mainly for Matterport, Domain acquisitions; stock repurchase $115M YTD, $385M remaining
- Management expects continued growth but moderating revenue growth in CoStar and Multifamily; plans investments in Homes.com, AI integration, international expansion; notes risks: economic uncertainty, competitive pressure, investment impact on margins
Risk Factors
- New supplier risk for Matterport hardware from supply chain, tariffs, geopolitical factors, and single-source dependence affecting production timelines and costs
- Most material update: Domain acquisition completed August 27, 2025, at $4.43 AUD/share, risks include integration costs, employee loss, and management distraction
- Regulatory/legal risk from open source software use exposing CoStar to potential IP litigation, indemnity gaps, and source code disclosure under license terms
- Operational risk from dependence on suppliers in China with risks of tariffs, trade restrictions, and potential supply disruptions impacting near-term hardware availability
- Financial risk: transaction and integration costs incurred for Domain acquisition with uncertain realization of synergies and efficiencies affecting profitability
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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