CoStar Group Reports Record Third Quarter Revenue of $952 Million; Profitability Surges with Net Income of $74 Million; Highest Ever Adjusted EBITDA of $229 Million, Doubling Year-over-Year; Raises Full-Year 2026 Adjusted EBITDA Guidance

Andy Florance, Founder and Chief Executive Officer of CoStar Group

“CoStar Group generated outstanding profitability growth in the third quarter, delivering on our commitment to expand margins as we exit a period of investment”

Andy Florance, Founder and Chief Executive Officer of CoStar Group

“Adjusted EBITDA doubled year-over-year and was considerably above the high end of our $190 million to $210 million guidance range.”

Andy Florance, Founder and Chief Executive Officer of CoStar Group

“We achieved significant additional efficiencies in the quarter, bringing total anticipated cost savings this year to approximately $150 million versus our original guidance.”

Andy Florance, Founder and Chief Executive Officer of CoStar Group

“Our ongoing deep expense review has identified potential additional savings of at least $200 million that we believe will improve efficiency without sacrificing revenue growth.”

Andy Florance, Founder and Chief Executive Officer of CoStar Group

“We expect to realize these over the next 12 to 18 months, keeping us on track to achieve our 2028 Adjusted EBITDA target of $1.25 billion.”

Andy Florance, Founder and Chief Executive Officer of CoStar Group

“We are demonstrating our ability to meaningfully grow profitability and are confident in our strategy to fuel future growth.”

Andy Florance, Founder and Chief Executive Officer of CoStar Group

“We are leveraging AI and our proprietary ground truth data, giving us a unique competitive advantage in providing value to our information clients.”

Andy Florance, Founder and Chief Executive Officer of CoStar Group

“Furthermore, our global scale enables us to deliver best-in-class consumer-facing AI functionality on our marketplaces at significantly lower costs than our competitors.”

Andy Florance, Founder and Chief Executive Officer of CoStar Group

“Our acquisition of Zonda and agreement to acquire Vexcel demonstrate our ability to further enhance our proprietary datasets and global scale, which are real differentiators in the world of AI.”