CoStar Group (CSGP) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $897 million, up 23% year-over-year, marking 60 consecutive quarters of double-digit revenue growth.

• Net income was $3 million, reversing a $15 million loss in Q1 2025.

• Adjusted EBITDA doubled year-over-year to $132 million, exceeding guidance by $17 million.

• Major acquisitions of Domain and Matterport in 2025 contributed significantly to revenue and operational scale.

• Homes.com and Matterport investments are delivering strong ROI, with rapid membership and monetization growth.

Financial highlights

• Commercial Real Estate revenue: $472 million (+15% y/y); Residential Real Estate revenue: $425 million (+32% y/y).

• Adjusted EBITDA: $132 million, up 100% year-over-year; margin improvement driven by cost efficiencies.

• Net new bookings: $67 million, up 20% year-over-year.

• Adjusted EPS: $0.23 per share, above guidance.

• Gross profit was $701 million, with gross margin at 78%.

Outlook and guidance

• Q2 2026 revenue expected at $922–$932 million, up 18–19% year-over-year.

• Q2 adjusted EBITDA guidance: $160–180 million; margin 17–19%.

• Full-year 2026 revenue guidance reaffirmed at $3.78–3.82 billion (16–18% growth).

• Full-year adjusted EBITDA guidance raised to $780–820 million; adjusted EPS guidance increased to $1.32–1.39.

• Commercial and residential full-year revenue guidance: $1.955–1.975 billion and $1.825–1.845 billion, respectively.