CoStar Group, Inc. (CSGP) Earnings Call Transcripts

CoStar Group, Inc.'s Latest Earnings Call - Q2 FY2026

In Q2 2026, CoStar Group reported revenue of $925 million, an 18% year-over-year increase, and adjusted EBITDA of $184 million, more than doubling from the previous year. The company confirmed its full-year adjusted EBITDA guidance of $780 million to $820 million, signaling strong profitability momentum. Notably, net income surged by 817%, indicating significant operational efficiency, while the company maintained a disciplined approach to cost management, limiting operating cost growth to just 2%.

Reported metrics

Guidance from management

For Q3 2026, CoStar expects revenue between $935 million and $945 million, with adjusted EBITDA guidance of $190 million to $210 million. For the full year, revenue guidance has been revised to $3.715 billion to $3.755 billion, reflecting strategic operational decisions.

What management said

I would concur with that, and we continue to invest on optimized sales force growth. I mean, obviously, we've gone from a 0 to a 600 and some 660-person sales team. We are now focusing more on the productivity of each of these salespeople, including shifting to more field salespeople in both homes and apartments, which we think will have a benefit. And again, to reiterate what Chris said, the -- as we move into depth...

And George, I'd add two other things as I kind of thought through the question. One, we're excited about additional product launches and the investments we've made on the commercial side primarily that are coming in the next four to six quarters. So we think those -- the take-up will be fantastic. So we're excited by that. And we continue to expand our sales force. While some of our sales forces have reached our obje...

What analysts pressed on

Analysts expressed concerns regarding the decline in net new bookings, which dropped 26% year-over-year. There were questions about the impact of restructuring efforts in the Ten-X business and how this might affect future revenue growth. Additionally, analysts were curious about the competitive pressures in the multifamily market and the potential for pricing pressures.

Main topics on the call

• Profitability Inflection Point — CoStar Group's adjusted EBITDA more than doubled year-over-year to $184 million, marking the second highest quarterly level in company history. CEO Andy Florance stated, "We expect to deliver the highest full year adjust...
• Revenue Growth Consistency — The company achieved $925 million in revenue, representing its 61st consecutive quarter of double-digit revenue growth. This was driven by an 18% increase year-over-year, with commercial revenue up 8% and residential rev...
• Net New Bookings Performance — Net new bookings for Q2 were $69 million, up 3% sequentially but down 26% year-over-year. Management indicated that the decline was partly due to restructuring efforts in the Ten-X business, which affected overall bookin...
• Guidance Confirmation and Revision — CoStar maintained its full-year adjusted EBITDA guidance of $780 million to $820 million and revised its revenue guidance to $3.715 billion to $3.755 billion. CFO Christian Lown noted, "The key drivers of the revision in...

Read the full CoStar Group, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 34 CoStar Group, Inc. earnings call transcripts on record, spanning February 25, 2020 to July 28, 2026. Based on this history, CoStar Group, Inc. reports quarterly. The most recent call on file is dated July 28, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

CSGP

Exchange

NasdaqGS

Country

US

Sector

Real Estate

Industry

Real Estate Management and Development

Calls on record

34

First call

February 25, 2020

Most recent

July 28, 2026

Reporting cadence

quarterly