The company acquired Homes.com, BureauxLocaux, Business Immo and OnTheMarket in May 2021, October 2021, April 2022 and December 2023, respectively. The company continues to integrate recent acquisitions and the services they offer into the CoStar network.

Residential's revenues for the year ended December 31, 2023 decreased compared to the year ended December 31, 2022, due to the discontinuation of certain non-strategic products and services.

The company broke ground on the expansion in November 2022 and expect construction to be substantially completed in the first half of 2026. The expansion includes construction of two new buildings spanning 750,000 square feet and will bring the campus footprint to over 1 million square feet when completed.

Selling and marketing expenses increased $306 million, or 44.7%, to $990 million and, as a percentage of revenues, increased from 31% to 40%.

Customer base amortization expense decreased $31 million, or 42.7%, to $42 million and, as a percentage of revenues, decreased from 3% to 2%.

The company continues to implement a financial system that is designed to improve the efficiency and effectiveness of operational and financial accounting processes.

The company's IT systems may be vulnerable to cyberattacks or security breaches, and third parties may be able to access the company's, its customers' or its employees' confidential information.

Global economic uncertainties or downturns could adversely affect the company's business and results of operations, including financial and credit market fluctuations, changes in economic policy, increased inflation and responsive actions, rising interest rates or a period of elevated interest rates, labor shortages, supply chain disruptions, trade uncertainty, political unrest, geographical instability or other impacts from the macroeconomic environment.

The company has expanded its markets and services in part through acquisitions of complementary businesses, services, databases and technologies, and expect to continue to do so in the future. The company's acquisition strategy depends on its ability to identify, and the availability of, suitable acquisition candidates.

The markets for information systems and services and for online marketplaces in general are highly competitive and rapidly changing. Competition in these markets may increase further if economic conditions or other circumstances cause customer bases and customer spending to decrease and service providers to compete for fewer customer resources.

The company relies heavily on its brands, which it believes are key assets. Awareness and differentiation of the company's brands are important for attracting and expanding the number of users of, and subscribers to, its online marketplaces.

The company's products and services access and use listings data through MLS memberships and must comply with each MLS's rules and compliance requirements to maintain their access to listings data and remain a member in good standing.

The significant costs associated with undertaking a large infrastructure project to build out the company's campus in Richmond, Virginia, have impacted and will continue to impact the company's financial condition and results of operations.

Expanding into new markets and increasing the depth of coverage in existing markets imposes additional burdens on the company's research, systems development, sales, marketing and general managerial resources.

The majority of the company's revenue is generated from service offerings that are distributed to its clients under subscription-based agreements that typically renew automatically and have a term of at least one year.

The company's information technology professionals focus on developing new services and features for its customers, improving and maintaining existing services, integrating its current services, securing its comprehensive database of commercial real estate information and delivering research automation tools that improve the quality of its data and increase the efficiency of its research analysts.

The company relies on IT Systems and involves the generation, collection, storage, processing and transmission of Confidential Information, including personal information and proprietary business information, by the company and by third-party providers the company relies on.

The company's comprehensive data protection policy provides for use of secure networks, strong passwords and dual factor authentication systems, encrypted data fields, end-to-end encryption, endpoint detection and response systems and services, security information and event management systems, off-site storage, cloud services, end user and developer security training, multilayered anti-phishing malware and spam protections and other protective measures in an effort to ensure the availability and security of all core systems.

The company believes the balance of cash and cash equivalents, which was $5.2 billion as of December 31, 2023, along with cash generated by ongoing operations and continued access to capital markets, will be sufficient to satisfy its cash requirements over the next 12 months and beyond.

The company has never declared or paid any dividends on its common stock and do not intend to do so for the foreseeable future.

The company is expanding its research and technology center in Richmond, Virginia. These plans have required and will continue to require significant capital expenditures over the next several years and the company's business plans may change.

Increased attention to climate change; diversity, equity, and inclusion; and other ESG issues, as well as societal expectations regarding voluntary ESG initiatives and disclosures, may result in increased costs, impact the company's reputation, or otherwise affect its business performance.

Unfavorable ESG ratings could lead to negative investor sentiment toward the company and/or its industry, which could have a negative impact on the company's access to and costs of capital.

The company may take certain actions, including the establishment of ESG-related goals or targets, to improve the ESG profile of the Company and/or offerings and/or to respond to stakeholder demand; however, such actions may be costly or be subject to numerous conditions that are outside the company's control, and the company cannot guarantee that such actions will have the desired effect.

Global economic uncertainties or downturns could adversely affect the company's business and results of operations, including financial and credit market fluctuations, changes in economic policy, increased inflation and responsive actions, rising interest rates or a period of elevated interest rates, labor shortages, supply chain disruptions, trade uncertainty, political unrest, geographical instability or other impacts from the macroeconomic environment.

The markets for information systems and services and for online marketplaces in general are highly competitive and rapidly changing. Competition in these markets may increase further if economic conditions or other circumstances cause customer bases and customer spending to decrease and service providers to compete for fewer customer resources.

The company depends on processing vendors to process a significant number of credit and debit card transactions and ACH payments, for payments made to the company directly for its services, by renters to landlords using its online leasing services, or by real estate agents to purchase its Homes.com services.