CSGP CoStar Group Inc

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Exhibit 99.1

 

CoStar Group Second Quarter 2024 Revenue Increased 12% Year-over-Year and Net New Bookings were $67 Million.

CoStar Group Reaches a Record 183 Million Average Monthly Unique Visitors.

WASHINGTON – July 23, 2024 - CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended June 30, 2024 was $678 million, up 12% over revenue of $606 million for the quarter ended June 30, 2023. Net income was $19 million in the second quarter of 2024 and net income per diluted share was $0.05.

“We achieved another strong quarter of results in terms of revenue, sales and traffic to our websites,” said Andy Florance, Founder and CEO of CoStar Group. “Overall revenue grew 12% year-over-year, and our two billion-dollar run rate businesses continue to deliver double-digit revenue growth with Apartments.com growing at 18% and CoStar at 10% over the second quarter of last year. Our commercial information and marketplace businesses continue to perform and delivered 41% profit margins in the second quarter of 2024,” continued Florance.

“Homes.com net new bookings through June reached over $55 million, a significant milestone as it took Apartments.com two years to achieve those results. Our Homes.com Network had 148 million monthly average unique visitors in the second quarter, according to Google Analytics, maintaining our position as one of the top two most heavily trafficked residential property marketplaces in the U.S.” continued Florance. “Our unaided brand awareness continues to climb and reached 27% in June 2024 as a result of our aggressive brand marketing campaign.”

Year 2023-2024 Quarterly Results - Unaudited

(in millions, except per share data)

 

		2023																2024
		Q1				Q2				Q3				Q4				Q1				Q2
Revenues		$	584			$	606			$	625			$	640			$	656			$	678
Net income			87				101				91				96				7				19
Net income per share - diluted			0.21				0.25				0.22				0.24				0.02				0.05
Weighted average outstanding shares - diluted			406				407				407				408				407				407
EBITDA			98				105				89				98				(13	)			12
Adjusted EBITDA			123				127				112				130				12				41
Non-GAAP net income			118				127				120				133				42				61
Non-GAAP net income per share - diluted			0.29				0.31				0.30				0.33				0.10				0.15

2024 Outlook

“This quarter’s results demonstrate the strength of our core commercial business and the continued progress of our Homes.com strategy,” said Chris Lown, CFO of CoStar Group. The Company now expects revenue in the range of $2.735 billion to $2.745 billion for the full year of 2024, representing revenue growth of approximately 12% year-over-year at the midpoint of the range. The Company expects revenue for the third quarter of 2024 in the range of $692 million to $697 million, representing revenue growth of approximately 11% year-over-year at the midpoint of the range.

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“We now expect adjusted EBITDA for the full year of 2024 in the range of $195 million to $205 million, an increase of $5 million at the midpoint of the range from our previous guidance. For the third quarter of 2024, we expect adjusted EBITDA in the range of $47 million to $52 million.”

The Company expects full year 2024 non-GAAP net income per diluted share in a range of $0.64 to $0.66 based on 408 million shares. For the third quarter of 2024, the Company expects non-GAAP net income per diluted share in a range of $0.15 to $0.16 based on 408 million shares. These ranges include an estimated non-GAAP tax rate of 26% for the full year and the third quarter of 2024.

The preceding forward-looking statements reflect CoStar Group’s expectations as of July 23, 2024, including forward-looking non-GAAP financial measures on a consolidated basis, based on current estimates, expectations, observations, and trends. Given the risk factors, rapidly evolving economic environment, and uncertainties and assumptions discussed in this release and in our quarterly reports on Form 10-Q and annual reports on Form 10-K, actual results may differ materially. Other than in publicly available statements, the Company does not intend to update its forward-looking statements until its next quarterly results announcement.

Reconciliations of EBITDA, adjusted EBITDA, non-GAAP net income, and non-GAAP net income per diluted share to the most directly comparable GAAP measures are shown in detail below, along with definitions for those terms. A reconciliation of forward-looking non-GAAP guidance to the most directly comparable GAAP measure, net income, can be found within the tables included in this release.

Non-GAAP Financial Measures

For information regarding the purpose for which management uses the non-GAAP financial measures disclosed in this release and why management believes they provide useful information to investors regarding the Company’s financial condition and results of operations, please refer to the Company’s latest periodic report.

EBITDA is a non-GAAP financial measure that represents GAAP net income attributable to CoStar Group before interest income or expense, net and other income or expense, net; loss on debt extinguishment; income taxes and depreciation and amortization expense.

Adjusted EBITDA is a non-GAAP financial measure that represents EBITDA before stock-based compensation expense, acquisition- and integration-related costs, restructuring costs, and settlements and impairments incurred outside the Company’s ordinary course of business. Adjusted EBITDA margin represents adjusted EBITDA divided by revenues for the period.

Non-GAAP net income is a non-GAAP financial measure determined by adjusting GAAP net income attributable to CoStar Group for stock-based compensation expense, acquisition- and integration-related costs, restructuring costs, settlement and impairment costs incurred outside the Company’s ordinary course of business and loss on debt extinguishment, as well as amortization of acquired intangible assets and other related costs, and then subtracting an assumed provision for income taxes. In 2024, the Company is assuming a 26% tax rate in order to approximate its statutory corporate tax rate excluding the impact of discrete items.

Non-GAAP net income per diluted share is a non-GAAP financial measure that represents non-GAAP net income divided by the number of diluted shares outstanding for the period used in the calculation of GAAP net income per diluted share. For periods with GAAP net losses and non-GAAP net income, the weighted average outstanding shares used to calculate non-GAAP net income per share includes potentially dilutive securities that were excluded from the calculation of GAAP net income per share as the effect was anti-dilutive.

Operating Metrics

Net new bookings is calculated based on the annualized amount of change in the Company’s sales bookings resulting from new subscription-based contracts, changes to existing subscription-based contracts and cancellations of subscription-based contracts for the period reported. Information regarding net new bookings is not comparable to, nor should it be substituted for, an analysis of the Company’s revenues over time.

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Earnings Conference Call

Management will conduct a conference call to discuss the second quarter 2024 results and the Company’s outlook at 5:00 PM ET on Tuesday, July 23, 2024. A live audio webcast of the conference will be available in listen-only mode through the Investors section of the CoStar Group website: https://investors.costargroup.com. A replay of the webcast audio will also be available in the Investors section of our website for a period of time following the call.

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CoStar Group, Inc.

Condensed Consolidated Statements of Operations - Unaudited

(in millions, except per share data)

 

		Three Months Ended June 30,								Six Months Ended June 30,
		2024				2023				2024				2023
Revenues		$	677.8			$	605.9			$	1,334.2			$	1,190.3
Cost of revenues			135.8				112.4				277.0				231.6
Gross profit			542.0				493.5				1,057.2				958.7
Operating expenses:
Selling and marketing (excluding customer base amortization)			358.4				250.0				724.5				476.2
Software development			79.6				63.4				162.0				130.0
General and administrative			109.9				90.6				208.4				180.1
Customer base amortization			10.2				10.4				21.2				21.0
			558.1				414.4				1,116.1				807.3
(Loss) income from operations			(16.1	)			79.1				(58.9	)			151.4
Interest income, net			53.5				51.9				109.7				95.4
Other (expense) income, net			(1.5	)			0.6				(3.4	)			1.2
Income before income taxes			35.9				131.6				47.4				248.0
Income tax expense			16.7				31.1				21.5				60.3
Net income		$	19.2			$	100.5			$	25.9			$	187.7
Net income per share - basic		$	0.05			$	0.25			$	0.06			$	0.46
Net income per share - diluted		$	0.05			$	0.25			$	0.06			$	0.46
Weighted-average outstanding shares - basic			406.0				405.4				405.8				405.0
Weighted-average outstanding shares - diluted			407.4				406.7				407.3				406.5

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CoStar Group, Inc.

Reconciliation of Non-GAAP Financial Measures - Unaudited

(in millions, except per share data)

Reconciliation of Net Income to Non-GAAP Net Income

 

		Three Months Ended June 30,								Six Months Ended June 30,
		2024				2023				2024				2023
Net income		$	19.2			$	100.5			$	25.9			$	187.7
Income tax expense			16.7				31.1				21.5				60.3
Income before income taxes			35.9				131.6				47.4				248.0
Amortization of acquired intangible assets			18.1				18.0				37.9				35.7
Stock-based compensation expense			22.7				21.8				45.5				41.9
Acquisition and integration related costs			6.0				(0.2	)			8.3				1.5
Restructuring and related costs			—				(0.1	)			—				3.3
Settlements and impairments			—				—				—				(0.1	)
Non-GAAP income before income taxes			82.7				171.1				139.1				330.3
Assumed rate for income tax expense(1)			26.0	%			26.0	%			26.0	%			26.0	%
Assumed provision for income tax expense			(21.5	)			(44.5	)			(36.2	)			(85.9	)
Non-GAAP net income		$	61.2			$	126.6			$	102.9			$	244.4
Net income per share - diluted		$	0.05			$	0.25			$	0.06			$	0.46
Non-GAAP net income per share - diluted		$	0.15			$	0.31			$	0.25			$	0.60
Weighted average outstanding shares - basic			406.0				405.4				405.8				405.0
Weighted average outstanding shares - diluted			407.4				406.7				407.3				406.5

 

(1)	The assumed tax rate approximates our statutory federal and state corporate tax rate for the applicable period.

Reconciliation of Net Income to EBITDA and Adjusted EBITDA

 

		Three Months Ended June 30,								Six Months Ended June 30,
		2024				2023				2024				2023
Net income		$	19.2			$	100.5			$	25.9			$	187.7
Amortization of acquired intangible assets in cost of revenues			7.9				7.5				16.7				14.6
Amortization of acquired intangible assets in operating expenses			10.2				10.5				21.2				21.1
Depreciation and other amortization			10.1				8.1				20.4				16.0
Interest income, net			(53.5	)			(51.9	)			(109.7	)			(95.4	)
Other expense (income), net1			1.5				(0.6	)			3.4				(1.2	)
Income tax expense			16.7				31.1				21.5				60.3
EBITDA		$	12.1			$	105.2			$	(0.6	)		$	203.1
Stock-based compensation expense			22.7				21.8				45.5				41.9
Acquisition and integration related costs			6.0				(0.2	)			8.3				1.5
Restructuring and related costs			—				(0.1	)			—				3.3
Settlements and impairments			—				—				—				(0.1	)
Adjusted EBITDA		$	40.8			$	126.7			$	53.2			$	249.7

 

1	Includes $5.3 million and $8.9 million of amortization and depreciation expense associated with lessor income for the three and six months ended June 30, 2024, respectively.

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CoStar Group, Inc.

Condensed Consolidated Balance Sheets - Unaudited

(in millions)

 

		June 30, 2024				December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents		$	4,919.5			$	5,215.9
Accounts receivable			226.2				213.2
Less: Allowance for credit losses			(22.4	)			(23.2	)
Accounts receivable, net			203.8				190.0
Prepaid expenses and other current assets			83.9				70.2
Total current assets			5,207.2				5,476.1
Deferred income taxes, net			4.3				4.3
Property and equipment, net			853.2				472.2
Lease right-of-use assets			69.3				79.8
Goodwill			2,383.6				2,386.2
Intangible assets, net			342.5				313.7
Deferred commission costs, net			178.9				167.7
Deposits and other assets			26.3				17.7
Income tax receivable			2.0				2.0
Total assets		$	9,067.3			$	8,919.7
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	101.0			$	23.1
Accrued wages and commissions			110.2				117.8
Accrued expenses and other current liabilities			186.3				163.0
Income taxes payable			0.1				7.7
Lease liabilities			41.2				40.0
Deferred revenue			122.9				104.2
Total current liabilities			561.7				455.8
Long-term debt, net			991.2				990.5
Deferred income taxes, net			30.3				36.7
Income taxes payable			18.8				18.2
Lease and other long-term liabilities			69.6				79.9
Total liabilities		$	1,671.6			$	1,581.1
Total stockholders’ equity			7,395.7				7,338.6
Total liabilities and stockholders’ equity		$	9,067.3			$	8,919.7

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CoStar Group, Inc.

Condensed Consolidated Statements of Cash Flows - Unaudited

(in millions)

 

		Six Months Ended June 30,
		2024				2023
Operating activities:
Net income		$	25.9			$	187.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			72.1				51.7
Amortization of deferred commissions costs			56.3				45.3
Amortization of Senior Notes discount and issuance costs			1.7				1.2
Non-cash lease expense			12.9				14.1
Stock-based compensation expense			45.5				41.9
Deferred income taxes, net			(6.4	)			(7.0	)
Credit loss expense			17.0				13.9
Other operating activities, net			0.1				0.5
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable			(31.1	)			(40.6	)
Prepaid expenses and other current assets			(13.8	)			(4.2	)
Deferred commissions			(67.6	)			(65.0	)
Accounts payable and other liabilities			82.9				54.4
Lease liabilities			(14.8	)			(16.6	)
Income taxes payable, net			(7.0	)			12.9
Deferred revenue			19.0				8.9
Other assets			(3.5	)			(0.7	)
Net cash provided by operating activities			189.2				298.4
Investing activities:
Purchases of property, equipment and other assets for new campuses			(449.5	)			(45.6	)
Purchases of property and equipment and other assets			(23.0	)			(8.8	)
Net cash used in investing activities			(472.5	)			(54.4	)
Financing activities:
Repurchase of restricted stock to satisfy tax withholding obligations			(26.9	)			(22.5	)
Proceeds from exercise of stock options and employee stock purchase plan			17.2				16.2
Principal repayments of finance lease obligations			(2.2	)			—
Net cash used in financing activities			(11.9	)			(6.3	)
Effect of foreign currency exchange rates on cash and cash equivalents			(1.2	)			(0.4	)
Net (decrease) increase in cash and cash equivalents			(296.4	)			237.3
Cash and cash equivalents at the beginning of period			5,215.9				4,968.0
Cash and cash equivalents at the end of period		$	4,919.5			$	5,205.3

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CoStar Group, Inc.

Disaggregated Revenues - Unaudited

(in millions)

 

		Three Months Ended June 30,
		2024												2023
		North America				International				Total				North America				International				Total
CoStar		$	237.1			$	15.9			$	253.0			$	219.6			$	9.6			$	229.2
Information Services			27.9				5.5				33.4				32.2				9.7				41.9
Multifamily			264.2				—				264.2				224.3				—				224.3
LoopNet			67.2				2.6				69.8				63.2				2.3				65.5
Residential			16.2				10.0				26.2				12.7				—				12.7
Other Marketplaces			31.2				—				31.2				32.3				—				32.3
Total revenues		$	643.8			$	34.0			$	677.8			$	584.3			$	21.6			$	605.9
		Six Months Ended June 30,
		2024												2023
		North America				International				Total				North America				International				Total
CoStar		$	472.8			$	30.5			$	503.3			$	435.4			$	18.8			$	454.2
Information Services			55.3				11.1				66.4				64.3				19.2				83.5
Multifamily			519.0				—				519.0				435.0				—				435.0
LoopNet			133.6				5.3				138.9				124.4				4.4				128.8
Residential			24.6				20.2				44.8				25.9				—				25.9
Other Marketplaces			61.8				—				61.8				62.9				—				62.9
Total revenues		$	1,267.1			$	67.1			$	1,334.2			$	1,147.9			$	42.4			$	1,190.3

CoStar Group, Inc.

Results of Segments - Unaudited

(in millions)

 

		Three Months Ended June 30,								Six Months Ended June 30,
		2024				2023				2024				2023
EBITDA
North America		$	30.8			$	104.6			$	34.0			$	201.3
International			(18.7	)			0.6				(34.6	)			1.8
Total EBITDA		$	12.1			$	105.2			$	(0.6	)		$	203.1

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CoStar Group, Inc.

Reconciliation of Non-GAAP Financial Measures with Quarterly Results - Unaudited

(in millions, except per share data)

Reconciliation of Net Income to Non-GAAP Net Income

 

		2023																2024
		Q1				Q2				Q3				Q4				Q1				Q2
Net income		$	87.1			$	100.5			$	90.6			$	96.4			$	6.7			$	19.2
Income tax expense			29.2				31.1				29.9				36.3				4.8				16.7
Income before income taxes			116.4				131.7				120.5				132.7				11.5				35.9
Amortization of acquired intangible assets			17.7				18.0				18.7				19.3				19.8				18.1
Stock-based compensation expense			20.0				21.8				21.9				21.2				22.8				22.7
Acquisition and integration related costs			1.7				(0.2	)			0.8				10.7				2.3				6.0
Restructuring and related costs			3.4				(0.1	)			0.5				0.2				—				—
Settlements and impairments			(0.1	)			—				—				—				—				—
Other income, net			—				—				—				(3.8	)			—				—
Non-GAAP income before income taxes(1)			159.1				171.2				162.4				180.3				56.4				82.7
Assumed rate for income tax expense(2)			26	%			26	%			26	%			26	%			26	%			26	%
Assumed provision for income tax expense			(41.4	)			(44.5	)			(42.2	)			(46.9	)			(14.7	)			(21.5	)
Non-GAAP net income(1)		$	117.7			$	126.7			$	120.2			$	133.4			$	41.7			$	61.2
Non-GAAP net income per share - diluted		$	0.29			$	0.31			$	0.30			$	0.33			$	0.10			$	0.15
Weighted average outstanding shares - basic			404.5				405.4				405.6				405.8				405.6				406.0
Weighted average outstanding shares - diluted			406.2				406.8				407.2				407.5				407.3				407.4

 

(1)	Totals may not foot due to rounding.

(2)	The assumed tax rate approximates our statutory federal and state corporate tax rate for the applicable period.

Reconciliation of Net Income to EBITDA and Adjusted EBITDA

 

		2023																2024
		Q1				Q2				Q3				Q4				Q1				Q2
Net income		$	87.1			$	100.5			$	90.6			$	96.4			$	6.7			$	19.2
Amortization of acquired intangible assets			17.7				18.0				18.7				19.3				19.8				18.1
Depreciation and other amortization			7.9				8.1				8.4				9.4				10.3				10.1
Interest income, net			(43.5	)			(51.9	)			(58.4	)			(59.7	)			(56.2	)			(53.5	)
Other (income) expense, net(1)			(0.6	)			(0.6	)			(0.5	)			(3.7	)			1.9				1.5
Income tax expense			29.2				31.1				29.9				36.3				4.8				16.7
EBITDA(2)		$	97.8			$	105.2			$	88.7			$	98.0			$	(12.7	)		$	12.1
Stock-based compensation expense			20.0				21.8				21.9				21.2				22.8				22.7
Acquisition and integration related costs			1.7				(0.2	)			0.8				10.7				2.3				6.0
Restructuring and related costs			3.4				(0.1	)			0.5				0.2				—				—
Settlements and impairments			(0.1	)			—				—				—				—				—
Adjusted EBITDA(2)		$	122.9			$	126.8			$	111.9			$	130.1			$	12.4			$	40.8

 

(1)	Includes $5.3 million and $8.9 million of amortization and depreciation expense associated with lessor income for the three and six months ended June 30, 2024, respectively.

(2)	Totals may not foot due to rounding.

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CoStar Group, Inc.

Reconciliation of Forward-Looking Guidance - Unaudited

(in millions, except per share data)

Reconciliation of Forward-Looking Guidance, Net Income to Non-GAAP Net Income

 

		Guidance Range For the Three Months Ending September 30, 2024								Guidance Range For the Year Ending December 31, 2024
		Low				High				Low				High
Net income		$	22			$	26			$	107			$	114
Income tax expense			13				14				57				60
Income before income taxes			35				40				164				174
Amortization of acquired intangible assets			17				17				72				72
Stock-based compensation expense			25				25				95				95
Acquisition and integration related costs			8				8				24				24
Non-GAAP income before income taxes			85				90				355				365
Assumed rate for income tax expense(1)			26	%			26	%			26	%			26	%
Assumed provision for income tax expense			(22	)			(23	)			(92	)			(95	)
Non-GAAP net income			63				67				263				270
Net income per share - diluted		$	0.05			$	0.06			$	0.26			$	0.28
Non-GAAP net income per share - diluted		$	0.15			$	0.16			$	0.64			$	0.66
Weighted average outstanding shares - diluted			408.0				408.0				407.8				407.8

 

(1)	The assumed tax rate approximates our statutory federal and state corporate tax rate for the applicable period.

Reconciliation of Forward-Looking Guidance, Net Income to Adjusted EBITDA

 

		Guidance Range For the Three Months Ending September 30, 2024								Guidance Range For the Year Ending December 31, 2024
		Low				High				Low				High
Net income		$	22			$	26			$	107			$	114
Amortization of acquired intangible assets			17				17				72				72
Depreciation and other amortization			10				10				41				41
Interest income, net			(50	)			(50	)			(208	)			(208	)
Other (income) expense, net			2				2				7				7
Income tax expense			13				14				57				60
Stock-based compensation expense			25				25				95				95
Acquisition and integration related costs			8				8				24				24
Adjusted EBITDA		$	47			$	52			$	195			$	205

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Investor Relations:

Cyndi Eakin

Senior Vice President

CoStar Group Investor Relations

(202) 346-6784

ceakin@costar.com

News Media:

Matthew Blocher

Vice President

CoStar Group Corporate Marketing & Communications

(202) 346-6775

mblocher@costar.com

About CoStar Group

CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over twelve million monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted over 183 million monthly average unique visitors in the second quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

This news release and the Company’s earnings conference call contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about CoStar Group’s plans, objectives, expectations, beliefs and intentions and other statements including words such as “hope,” “anticipate,” “may,” “believe,” “expect,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of management of CoStar Group and are subject to many risks and uncertainties. Actual results may differ materially from the results anticipated in the forward-looking statements and the assumptions and estimates used as a basis for the forward-looking statements. The following factors, among others, could cause or contribute to such differences: risks associated with the ability to consummate the proposed transaction with Matterport, Inc. (“Matterport”) and the timing of the closing of the proposed transaction; the ability to successfully integrate operations and employees; the ability to realize anticipated benefits and synergies of the proposed mergers as rapidly or to the extent anticipated by financial analysts or investors; the potential impact of announcement of the proposed mergers or consummation of the proposed Matterport transaction on business relationships, including with employees, customers, suppliers and competitors; unfavorable outcomes of any legal proceedings that have been or may be instituted against CoStar or Matterport; the ability to retain key personnel; costs, fees, expenses and charges related to the proposed Matterport transaction; the risk that the trends stated or implied by this release or in the earnings conference call cannot or will not be sustained at the current pace or may increase or decrease, including trends and expectations related to revenue, revenue growth, net income, non-GAAP net income, EBITDA, adjusted EBITDA, adjusted EBITDA margin, sales, net new bookings, site traffic and visitors, leads, and renewal rates; the risk that the Company is unable to sustain current Company-wide or Homes.com net new bookings; the risk that revenues for the third quarter and full year 2024 will not be as stated in this press release; the risk that net income for the third quarter and full year 2024 will not be as stated in this press release; the risk that EBITDA for the third quarter and full year 2024 will not be as stated in this press release; the risk that adjusted EBITDA for the third quarter and full year 2024 will not be as stated in this press release; the risk that non-GAAP net income and non-GAAP net income per diluted share for the third quarter and full year 2024 will not be as stated in this press release; the risk that we may not successfully integrate acquired businesses or assets and may not achieve anticipated benefits of an acquisition, including expected synergies; the risk that the tax rate estimates stated in this press release may change and the risk that we may experience declines in our revenues, revenue growth rates and profitability due to the impact of economic conditions on the real estate industry and our core customer base. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar Group’s filings from time to time with the Securities and Exchange Commission (the “SEC”), including in CoStar Group’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report for the quarterly period ended March 31, 2024, each of which is filed with the SEC, including in the “Risk Factors” section of those filings, as well as CoStar Group’s other filings with the SEC (including Current Reports on Form 8-K) available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar Group on the date hereof, and CoStar Group assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Exhibit 99.2 Second Quarter 2024 Investor Presentation

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Legal Disclaimer Certain information in this presentation includes “forward-looking statements” within the meaning of federal securities laws, including financial projections of CoStar Group, Inc. (“CoStar Group” or the “Company”), addressable markets, statements about management’s plans, growth strategy, goals and objectives for future operations and similar statements regarding expected future events. These statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially. Factors that could cause or contribute to such differences include: general economic conditions; the risk that our projections about revenue, EBITDA, Adjusted EBITDA, net income per share, Non-GAAP net income, Non-GAAP net income per share, site traffic or the number of users on our sites are not as expected; product development and releases; planned sales and marketing activities and investments; the anticipated benefits of completed or proposed acquisitions; trends in customer behavior; effective tax rates; the anticipated benefits of cross-selling efforts; planned service enhancements; legal and regulatory issues; methods that we use to measure unique visitors to our portals, including Google Analytics, may misstate the actual number of unique persons who visit our network of mobile applications and websites for a given changes in accounting policies or practices and current economic conditions, including the potential impacts of the COVID-19 pandemic, on the commercial real estate industry and our customer base. Additionally, annualization of historical results from short periods of time or small sample sizes may differ materially from actual results realized in future periods and may not take into account other future market conditions that may negatively affect those results. More information about potential risks that could cause actual results to differ from those contemplated by the forward-looking statements is included in our filings with the Securities Exchange Commission (the “SEC”), including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. All forward- looking statements are based on information available to us on the date of this presentation, and we assume no obligation to publicly update such statements whether as a result of new information, future events or otherwise. This presentation includes certain non-GAAP financial measures, including EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Non-GAAP Net Income, Non- GAAP Net Income per Share, Organic Revenues and Acquired Revenues, which are used by our management and board of directors to measure operating performance and trends and to prepare our annual budget. You should not consider these measures in isolation or as a substitute for analysis of our results as reported under GAAP. Reconciliation tables and other important information about the Company’s financial results and operating metrics used herein are included in the Appendix to this presentation. This presentation also contains estimates and statistical data made by independent parties and by CoStar Group related to market size, the housing rental market, agent users, site traffic, growth and other data about CoStar Group’s industry and performance. These data involve a number of assumptions and limitations, which may significantly impact their accuracy, and you are cautioned not to give undue weight to such estimates. Projections, assumptions and estimates of future performance are necessarily subject to a high degree of uncertainty and risk. This presentation is not an offer or a solicitation of an offer to purchase any securities.

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Second Quarter 2024 Highlights

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Second Quarter 2024 Highlights • Second quarter 2024 revenue of $678 million increased 12% year-over-year and our two businesses with billion dollar run rates delivered double-digit revenue growth. • Annualized net new bookings of $67 million, with commercial business bookings representing 79% and residential bookings contributing 21% • Homes.com net new bookings of $55 million in first two quarters. Apartments.com took two years to achieve and is now our largest business. • Traffic to CoStar Group sites reached a record 183 million average monthly unique visitors in the second quarter, an increase of 81% year-over-year. • Homes.com Network traffic reached 148 million average monthly unique visitors in the second quarter, an increase of 73% year-over-year. CoStar and Apartments.com are both billion dollar run rate businesses based on annualization of 1H24 revenue results. Traffic per Google Analytics. *

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Year-over-Year Traffic Growth of 81% in Q2 2024 200 183 180 MILLION 160 140 120 100 80 60 40 20 - 1Q13 4Q13 3Q14 2Q15 1Q16 4Q16 3Q17 2Q18 1Q19 4Q19 3Q20 2Q21 1Q22 4Q22 3Q23 2Q24 Source: Google Analytics Unique Visitors – All CoStar Group Sites. Growth rate based on 2Q24 vs 2Q23. Unique Visitors (in millions)

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Second Quarter and Year to Date 2024 Results Second Quarter Year to Date $678 million $1,334 million Revenue 12% year-over-year growth 12% year-over-year growth $19 million $26 million Net income $0.05 per diluted share $0.06 per diluted share Adjusted EBITDA $41 million $53 million Net new $67 million $153 million bookings Non-GAAP net $61 million $103 million income $0.15 per diluted share $0.25 per diluted share

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2024 Third Quarter and Full Year Outlook Third Quarter Full Year $692 million to $697 million $2.735 billion to $2.745 billion Revenue 11% year-over-year growth 12% year-over-year growth $22 million to $26 million $107 million to $114 million Net income $0.05 to $0.06 per diluted share $0.26 to $0.28 per diluted share $47 million to $52 million $195 million to $205 million Adjusted EBITDA 7% margin 7% margin Non-GAAP $63 million to $67 million $263 million to $270 million net income $0.15 to $0.16 per diluted share $0.64 to $0.66 per diluted share

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Company Overview

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CoStar Group is the Global Leader in Digitizing Real Estate 38 2 billion+ $5 billion+ ~6,300 years of real estate annual visits investment in research employees experience to our websites and technology member of the 500 Innovator of the Year Best Integrated Marketing Campaign COMPANY OF THE YEAR ~$5 billion 14 ~$31 billion 74 in cash on hand countries market capitalization offices *All numerical data as of June 30, 2024

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38 Years of Growth and Innovation

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A Global Leader in the Digital Transformation of the $300+ Trillion Real Estate Industry • Long growth runway: Global addressable market for real estate information and marketplaces estimated at > $100 billion. • Strong competitive position: Massive proprietary dataset built over 38 years with > $5 billion invested in research. • Leading Property Marketplaces: Hundreds of millions shop our online real estate marketplaces. • Successful growth track record: 53 consecutive quarters of double- digit revenue growth, both organic and through acquisitions. • Attractive financial model: 96% subscription revenue. 90% renewal rates. Strong margins, high free cash flow and a fortress balance sheet. *All data as of June 30, 2024. Subscription revenue includes all contracts regardless of term. Renewal rate is for the trailing 12 months as of June 30, 2024, for contracts with 12 month or longer terms.

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Global Real Estate: A $300 Trillion Asset Class U.S. REAL ESTATE GLOBAL REAL ESTATE $70 TRILLION $300 TRILLION (Year CoStar entered market) Office (1986) Industrial (1994) United States Retail (2004) Rural Land (2011) Apartment (2014) Hotel Single Family (2019) Residential/ Canada New Homes China (2020) France UK CoStar Group Offices India Germany U.S. Real Estate Sources: Apartment – CoStar estimate Global Real Estate Sources: Office – CoStar estimate Hotel – CoStar estimate Global real estate value calculated by scaling Industrial – CoStar estimate Single Family – Federal Reserve Flow of Funds and U.S. real estate value based on the U.S. Retail – CoStar estimate Urban Institute share of global GDP, Global GDP data from Based on 2023 Data Rural Land – U.S. Department of Agriculture New Homes – Federal Reserve Economic Data (FRED) The World Bank

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~$40B North American Addressable Market, Global Market > $100B Total North American Addressable Market $4 Billion $9 Billion $5 Billion >$15 Billion $6 Billion 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% TAM Sources: CoStar, Apartments, LoopNet and Ten-X – CoStar estimate Homes.com – extrapolation of Borrell Associates “2019 Real Estate Advertisement Outlook” combined with CoStar estimate

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Strong Double-Digit Growth with Two Brands Over $1 Billion in Revenue Run Rate 5 YEAR CAGR $2.7B 20% 14% $2.5B 8% TOTAL 5 YEAR REVENUE CAGR 133% 2023-2024 only $2.2B 13% $1.9B $1.7B $1.1B 17% $1.4B $1.0B 10% 2019 2020 2021 2022 2023 2024E Costar Multifamily LoopNet Residential Information Services Other Marketplaces

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53 Consecutive Quarters of Double-Digit Revenue Growth Regardless of Commercial Property Transaction Volumes High Inflation 700 Quarterly Revenue Transaction Volumes 2022-2024: +12% Growth Pandemic 260 600 2020-2021: +18% Growth • 96% subscription revenue • 81% annual contracts 500 210 • Resilient through market cycles • Single, integrated global platform 400 160 300 110 200 Great Recession 2009 Revenue: -1% 60 100 - 10 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 All data as of March 31, 2024. Quarterly Revenue (in millions)

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More Diversified with More Countercyclical Business Mix Since the Great Recession 2008 REVENUE 2024E REVENUE Other Marketplaces Other 5% Information Revenue Residential 4% Services LoopNet 10% CoStar 37% Information CoStar Marketplaces & Analytics 92% 58% 42% Information & Analytics Information Multifamily Services 100% 39% 5% Based on internal CoStar data.

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Diversified Client Base with Minimal Concentration TOP 1,000 CLIENTS: REVENUE BY CLIENT SEGMENT NONE MORE THAN 2% Other 15% Broker 21% Lender 4% Investor 7% Property Management Owner 19% 34% *Revenue by client segment and by client extrapolated from December 2023 CoStar billing data.

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Successful Acquisition and Integration Track Record $700 2024 REVENUE COMPOSITION Acquired $600 23% $500 $400 Organic 77% $300 $200 $100 $0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Organic Revenue Acquired Revenue at the time of acquisition Millions

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High-Growth, High-Margin Subscription Business Model ✓ 23% Revenue CAGR since IPO 24 years ago Double-Digit Revenue Growth ✓ CoStar and Apartments.com reached $1 billion in annual run rate revenue ✓ 96% subscription revenue with 81% annual contracts Predictable Subscription ✓ 95% renewal rate for clients > 5 years Services Revenue ✓ Double-digit revenue growth for 53 straight quarters ✓ 80% gross margin Strong Operating Leverage ✓ Commercial information and marketplace businesses 40%+ margins ✓ Net cash provided by operating activities of $490 million for 2023 Highly Cash Generative with Strong Balance Sheet ✓ ~$5 billion cash versus $1 billion of debt Note: All data as of 6/30/24 unless otherwise noted.

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The fastest growing U.S. residential marketplace

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Our Vision Establish Homes.com as the #1 residential real estate marketplace

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Homes.com by the Numbers 148M 99M Homes.com Network Homes.com Average Monthly Average Monthly Unique Visitors Unique Visitors $55M 2M+ Net New Annualized Residential For Sale Bookings and Rental Listings to Date Millions 10K+ of Leads Member Agents * Sources: The Homes.com site reached 99 million average monthly unique visitors and the Homes.com Network had 148 million, according to Google Analytics for the second quarter of 2024. All other based on Internal data as of June 2024.

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Homes.com Network Traffic Reaches 148M Average Monthly Unique Visitors in Q2 150 130 110 90 70 50 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 Homes.com Network traffic according to Google Analytics. . Average Unique Visitors (in millions)

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A Better Business Model – “Your Listing, Your Lead” • The most powerful real estate digital marketing solution to sell a home • Agents are using Homes.com to sell homes faster, win more listings and grow their brands • Only Homes.com prominently displays listing agent on the listing and connects you directly to the listing agent who knows the home best • Competitor models divert leads from agents and their brands; taking buyer and seller leads from your listings

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Homes.com Displays the Listing Agent, Firm & Buyer Agent Directory

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The Real Estate Portals Adhering to the Your Listing, Your Lead Principal are the Most Successful Not Your Listing, Your Listing, Your Lead Your Lead $2.0 $2.0 $1.5 $1.5 $1.0 $1.0 $0.5 $0.5 $0.0 $0.0 Zillow Redfin CoStar Rightmove REA Group Scout24 Lifull ($0.5) ($0.5) Group ($1.0) ($1.0) ($1.5) ($1.5) Billions in Net income (loss) for 10-year period from 2014-2023 from publicly filed financial statements. When full year 2023 was not available, trailing 12 months was used.

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Our Proprietary Content Sets Us Apart. Consumers Aren’t Just Looking for a Home, They’re Looking for a Community Homes.com is digitizing rich content for communities across the U.S. 20,000+ 40,000+ Neighborhoods Parks 125,000+ 65,000+ Schools Condo Buildings Launched Matterport 3D Virtual Tours on Homes.com Members Listings in 100 cities

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“We’ve done your home work.” 2024 Supercharged Marketing Campaign

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BIGGEST Real Estate Campaign Ever Working on behalf of the industry to help agents sign more buyer and seller agreements, drive demand for their listings and close more transactions. Over a Reaching BILLION 80 90% DOLLARS BILLION of households invested impressions

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Homes.com is EVERYWHERE No other competitors come close to our investment to drive leads to all agents

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Homes.com Unaided Brand Awareness up 7x in 9 Months to 27% UP 7X 27% 4% Sept ‘23 Jun ‘24

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Member Agent Listings Sell Homes Faster and For More Money Than Non-Member Agents 300% 87% 20% more listing shares more favorites more likely to go under contract within first 10 days $11K 51% average higher sales price more listings won in a month on average Based on internal CoStar data of listings on Homes.com.

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Investing to Create the #1 Residential Portal in the UK ✓Average monthly unique visitors up 174% year-over-year ✓Property listings reached 710,000, up 41% year-over-year ✓Agent advertisers now ~17,000 ✓Leads have grown 56% year-over-year

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Discover your new home. Helping 100 million renters find their perfect fit.

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Apartments.com by the Numbers 18% $1B Year-over-Year Revenue Run Rate Revenue Growth 1M+ 48% Rental Unaided Brand Availabilities Awareness 49M 1B Average Monthly Annual Visits Unique Visitors *All data as of 6/30/24. Revenue Run Rate based on first half of 2024 annualized.. Traffic data for Apartments.com Network from Google Analytics 2Q24.

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Our Biggest Customer Count Ever! ~76,000 APARTMENT COMMUNITIES now advertise on Apartments.com

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Apartments.com Beats Competition on the Metrics That Matter to Advertisers 2X 2X 3X more time higher more per visit conversion leases Sources: Traffic from Comscore Media Matrix, October 2023 - March 2024; Lease data from Rent Dynamics, January - September 2023

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Tremendous Opportunity Ahead in the Small to Medium Property Space Annual Subscription Universe Clients Revenue Unit Range TAM ($M) (Properties) (Properties) Revenue Run Penetration Rate ($M) 1-49 23M 18K $64M 1% $6B $7B opportunity 50-99 69K 11K $116M 11% $1B 100+ 104K 44K $832M 40% $2B Grand Total 23M 73K $1B 12% $9B Data as of March 2024 based on CoStar internal estimates. Annual revenue run rate based on annualized March 2024. Excludes transactional revenue for Independent Owners.

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Ten Years of Success for Apartments.com Growth Since Acquisition 2014 2024 th 5 place in highly fragmented The leading online rental Industry Rank #1 online rental search industry marketplace Revenue $75 million $1 billion annual revenue run rate 13X 4 million average monthly unique Traffic 49 million monthly unique visitors 11X visitors Customers 18,000 communities ~76,000 communities 4X #1 in revenue in 2023 and 1Q24 vs. competitors. Revenue Run Rate based on first half 2024 annualized including transactional revenue. 2014 ComScore traffic data. 06/24 Google Analytics traffic data. Customer data from internal database.

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A global leader in commercial real estate information, analytics, and data-driven news

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CoStar by the Numbers $1B 230K+ Revenue Run Rate Subscribers 7M 930K Commercial Listings Properties 15M 5M Lease Sale Transactions Transactions * Revenue Run Rate based on first half of 24 annualized. All other data from CoStar internal database as of June 2024.

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CoStar Product Investments Expand the Market Size, Resulting in Long-Term Double-Digit Growth $4B U.S. MARKET SIZE 12% Revenue Growth Rate $250 Tenants Ten Year CAGR Hospitality $200 Lenders Owners / Investors $150 Brokers / Appraisers $100 $50 $0 Total addressable market for CoStar – CoStar estimate. CAGR based on trailing twelve-month revenue as of 6/30/24. Quarterly Revenue (in millions)

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Unparalleled Research Methodology 1,000+ Drones 70 400 Analysts and In-market Economists canvassers 1 1,600 Cessna capturing Researchers aerial insights Automated data 1,200 extraction Software Developers To facilitate the gathering of data 60 Data feeds and Journalists Across third-party data North America & Europe 1 Based on 12/31/23 Internal Data

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The #1 global commercial real estate marketplace

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LoopNet by the Numbers 14% $279M 5 Year Revenue Revenue Run Rate CAGR 13M 370K Monthly Unique CRE Brokers & Visitors Worldwide Owners Advertising 12X 96% #1 Google Fortune 1000 keywords than Companies closest competitor Active on Site *All data as of June 2024. Run Rate based on 1H24 annualized. Traffic data from Google Analytics.

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Commanding Share of Traffic vs. Marketplace Competitors LoopNet Network vs. Competitors LoopNet Network crexi commercialsearch propertyshark commercialcafe officespace 71x vts Unique Visitors of the Avg. rcm1 CRE Marketplace Competitor Instantoffices buildout commercialexchange 6x propertycapsule Unique Visitors of the squarefoot Nearest Competitor reonomy catylist realnex 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 Source: SEMRush unique visitors for calendar month ending 6/30/24; U.S. market

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LoopNet Revenue Up 5x Since Acquisition $70 Domestic International Early Stages of a Massive $60 Global Opportunity $5 Billion $50 North American TAM $40 $15 Billion Global TAM $30 $20 $10 $0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Quarterly Revenue in Millions

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LoopNet International Expansion Underway LoopNet Canada loopnet.ca LoopNet UK loopnet.co.uk LoopNet Spain loopnet.es LoopNet France loopnet.fr

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Appendix

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Non-GAAP Measures For information regarding the purpose for which management uses the non-GAAP financial measures disclosed in this release and why management believes they provide useful information to investors regarding the CoStar Group Inc.’s (the “Company” of “CoStar Group”) financial condition and results of operations, please refer to the Company’s latest periodic report filed with the Securities and Exchange Commission at www.sec.gov. EBITDA is a non-GAAP financial measure that represents GAAP net income attributable to CoStar Group before interest income or expense, net and other income or expense, net; loss on debt extinguishment; income taxes; depreciation and amortization. Adjusted EBITDA is a non-GAAP financial measure that represents EBITDA before stock-based compensation expense, acquisition- and integration-related costs, restructuring costs, and settlements and impairments incurred outside the Company’s ordinary course of business. Adjusted EBITDA margin represents adjusted EBITDA divided by revenues for the period. Non-GAAP net income is a non-GAAP financial measure determined by adjusting GAAP net income attributable to CoStar Group for stock-based compensation expense, acquisition- and integration-related costs, restructuring costs, settlement and impairment costs incurred outside the Company's ordinary course of business and loss on debt extinguishment, as well as amortization of acquired intangible assets and other related costs, and then subtracting an assumed provision for income taxes. In 2024, the Company is assuming a 26% tax rate in order to approximate its statutory corporate tax rate excluding the impact of discrete items. Non-GAAP net income per diluted share is a non-GAAP financial measure that represents non-GAAP net income divided by the number of diluted shares outstanding for the period used in the calculation of GAAP net income per diluted share. For periods with GAAP net losses and non-GAAP net income, the weighted average outstanding shares used to calculate non-GAAP net income per share includes potentially dilutive securities that were excluded from the calculation of GAAP net income per share as the effect was anti-dilutive. Organic revenues and acquired revenues are non-GAAP measures for reporting financial performance of the business. Organic revenues represent total company revenues excluding net revenues from acquired companies for the first four full quarters since the entities’ acquisition date. Acquired revenues represents revenues from acquired companies for the first four full quarters since the entities' acquisition date. After the completion of four full fiscal quarters, changes in revenues of acquired is treated as organic for future periods. For products discontinued after an acquisition, the lesser of the reported revenues or the actual revenues reported is included in acquired revenues.

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Reconciliation of Net Income to Non-GAAP Net Income - Unaudited The following table presents a reconciliation of CoStar Group’s Non-GAAP Net Income, including forward-looking guidance Non-GAAP Net Income, to the most directly comparable GAAP financial measure, net income. For the Year Ended December 31, For the Three Months Ended September 30, September 30, (in millions) except per share amounts (1) (1) (1) (1) 2024 Low 2024 High 2024 - Low 2024 - High June 30, 2024 Net income $ 107.0 $ 114.0 $ 22.0 $ 26.0 $ 19.2 Income tax (benefit) expense 57.0 60.0 13.0 14.0 16.7 Income before income taxes 164.0 174.0 35.0 40.0 35.9 Amortization of acquired intangible assets 72.0 72.0 17.0 17.0 18.1 Stock-based compensation expense 95.0 95.0 25.0 25.0 22.7 Acquisition and integration related costs 24.0 24.0 8.0 8.0 6.0 Non-GAAP income before income taxes 355.0 365.0 85.0 90.0 82.7 (2) Asssumed rate for income tax expense 26% 26% 26% 26% 26% Assumed provision for income tax expesne (92.0) (95.0) (22.0) (23.0) (21.5) Non-GAAP net income $ 263.0 $ 270.0 $ 63.0 $ 67.0 $ 61.2 $ 0.26 $ 0.28 $ 0.05 $ 0.06 $ 0.05 Net income per share - diluted $ 0.64 $ 0.66 $ 0.15 $ 0.16 $ 0.15 Non-GAAP net income per share - diluted Weighted average outstanding shares - diluted 407.8 407.8 4 08.0 408.0 407.4 (1) Represents forward-looking guidance.

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Reconciliation of Net Income to Adjusted EBITDA - Unaudited The following table presents a reconciliation of CoStar Group’s Adjusted EBITDA, including forward-looking guidance range Adjusted EBITDA, to the most directly comparable GAAP financial measure, net income. For the Year Ending December 31, For the Three Months Ended September 30, September 30, (in millions) (1) (1) (1) (1) 2024 - Low 2024 - High 2024 - Low 2024 - High June 30, 2024 Net income $ 107.0 $ 114.0 $ 22.0 $ 26.0 $ 19.2 Amortization of acquired intangible assets 72.0 72.0 17.0 17.0 18.1 Depreciation and other amortization 41.0 41.0 10.0 10.0 10.1 Interest income, net (208.0) (208.0) (50.0) (50.0) (53.5) Other (income) expense, net 7.0 7.0 2.0 2.0 1.5 Income tax expense 57.0 60.0 13.0 14.0 16.7 EBITDA 76.0 86.0 14.0 19.0 12.1 Stock-based compensation expense 95.0 95.0 25.0 25.0 22.7 Acquisition and integration related costs 24.0 24.0 8.0 8.0 6.0 Adjusted EBITDA $ 195.0 $ 205.0 $ 47.0 $ 52.0 $ 40.8 (1) Represents forward-looking guidance.

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Use of Operating Metrics and Other Definitions CoStar Group reviews a number of operating metrics to evaluate its business, measure performance, identify trends, formulate business plans and make strategic decisions. This presentation includes Net New Bookings. Going forward, CoStar Group expects to use these operating metrics on a periodic basis to evaluate and provide investors with insight into the performance of the Company’s subscription-based services. Net New Bookings are calculated based on the annualized amount of change in the Company's sales bookings, resulting from new subscription-based contracts, changes to existing subscription-based contracts and cancellations of subscription-based contracts for the period reported. Information regarding net new bookings is not comparable to, nor should it be substituted for, an analysis of the Company's revenues over time. Other Definitions References to “commercial information and marketplace businesses” refer to our consolidated financial position and results excluding the impact of our Residential brands, which are Homes.com and OnTheMarket. Our “Homes.com Network” consists of the following list of U.S. only brands: Apartments.com, ApartmentFinder, FinderSites, ApartmentHomeLiving, WestSideRentals, ForRent, After55, CorporateHousing, ForRentUniversity, Cozy.com, Off Campus Partners, Homes.com, Homesnap, CitySnap, Land.com, Landandfarm.com, and LandWatch.com. Our “Apartments.com Network” consists of the following list of U.S. only brands: Apartments.com, ApartmentFinder, FinderSites, ApartmentHomeLiving, WestSideRentals, ForRent, After55, CorporateHousing, ForRentUniversity, Cozy.com, Off Campus Partners, rental-only listings on Homes.com. Our “Land.com Network” consists of the following U.S. only brands: Land.com, Landandfarm.com, and LandWatch.com.

v3.24.2

Document and Entity Information	Jul. 23, 2024
Cover [Abstract]
Amendment Flag	false
Entity Central Index Key	0001057352
Document Type	8-K
Document Period End Date	Jul. 23, 2024
Entity Registrant Name	COSTAR GROUP, INC.
Entity Incorporation State Country Code	DE
Entity File Number	0-24531
Entity Tax Identification Number	52-2091509
Entity Address, Address Line One	1331 L Street
Entity Address, Address Line Two	NW
Entity Address, City or Town	Washington
Entity Address, State or Province	DC
Entity Address, Postal Zip Code	20005
City Area Code	(202)
Local Phone Number	346-6500
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Common Stock ($0.01 par value)
Trading Symbol	CSGP
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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