Rightmove (RMV) Trading Update summary

Strategic direction and business evolution

• Accelerating execution with AI and data at the core, targeting both partners and consumers across core and new growth areas.

• Focus on developing a leading digital ecosystem for the moving experience, leveraging network effects and proprietary data for growth and diversification.

• Five pillars drive growth: consumer engagement, core partner value, strategic growth in commercial, rental, and financial services, platform/data/AI, and people.

• Core residential business remains central, accounting for 90% of revenue, with strong operational and financial execution across all business pillars.

• Strategic growth areas have delivered operational milestones, with revenue growth rates three times higher than core business, though initial absolute targets will take longer to realize.

Product and technology innovation

• Launched new digital tools across commercial, mortgage, and rental segments, including Online Agent Valuation, AI-powered search, and Renters Checklist, driving user engagement and operational efficiency.

• 27 prioritized AI projects and multiple live applications, including hyper-personalized search, conversational tools, and AI-powered partner products, are transforming consumer and partner experiences.

• Proprietary data and AI models deliver higher accuracy in partner products, creating a virtuous cycle of data enrichment and innovation.

• App and web experiences are being aligned, with device-specific features and app-only tools to boost engagement among high-intent users.

• Signed a multi-year collaboration with Google Cloud to leverage advanced AI and data capabilities, supporting innovation across the platform.

Consumer experience transformation

• AI-driven features include hyper-personalized search, move journey assistants, integrated mortgage tools, and renovation calculators.

• Over 20 million searches per day, 18 million mortgage interactions, and 3 million tracked properties annually.

• Consumer-facing features like Style with AI and Online Agent Valuation enhance platform stickiness and data collection.

• Deepening engagement and expanding utility to accelerate new revenue opportunities.

• App adoption and engagement accelerating, with app users showing higher retention and more sessions than web-only users.