Sector: Real Estate|Industry: Real Estate Services|Market Cap: $29.01B|Employees: 6.2K
CoStar Group, Inc. is a leading provider of online real estate marketplaces, information, and analytics in the U.S. and U.K. The company's core business model revolves around owning and operating online marketplaces for commercial real estate and apartment listings, with primary revenue streams coming from subscription-based services and advertising. CoStar differentiates itself through its comprehensive database, research capabilities, and technology, serving a broad range of industry professionals and consumers.
Total revenues increased by 12% year-over-year to $732.2 million. The Matterport acquisition contributed significantly to this growth, particularly in the 'Other Revenues' segment, which saw a 46% increase. This suggests that the acquisition is successfully driving top-line expansion.
The company reported a net loss of $14.8 million, compared to a net income of $6.7 million in the same period last year. This is primarily due to increases in operating expenses, including general and administrative expenses which increased by 43% and customer base amortization which increased by 56%.
EBITDA decreased from $(12.7) million to $(0.8) million year over year. This decline is attributed to increased amortization of acquired intangible assets, and increased depreciation and amortization expenses.