Costar Group, Inc. (NASDAQ: CSGP) has reported some impressive figures in its Q2 2025 earnings release. The company's revenue for the quarter ended June 30, 2025, stood at $781 million, marking a substantial 15% increase over the revenue of $678 million for the same period in 2024.
Net income for the second quarter of 2025 was $6 million, with net income per diluted share at $0.01. Adjusted EBITDA also saw a significant surge, reaching $85 million in Q2 2025, reflecting a remarkable 108% increase from Q2 2024.
Moreover, Costar Group achieved its all-time high quarterly net new bookings of $93 million, representing a remarkable 65% increase from the previous quarter. The growth was notably driven by apartments.com's highest net new bookings quarter in two years.
The company also saw a substantial uptick in its Homes.com members, with a 56% increase from Q1 2025, adding 6,300 members. Additionally, the demo-to-close rate exceeded 50%, further underlining the success of its investments in the sales force, mission-critical products, and marketplaces.
An interesting point mentioned in the release is that member agents are winning 62% more listings than comparable non-member agents, showcasing the value of Costar Group's offerings. The launch of "boost" on Homes.com in Q2, a digital marketing package aimed at maximizing property exposure, has seen over 1,200 boosts sold to agents and home sellers.
In the financials, it's important to note the company's strong performance in the face of challenges. Costar Group has provided a breakdown of its quarterly results for 2024-2025, showcasing a steady increase in revenues and adjusted EBITDA over the quarters.
Looking ahead, the company is optimistic about its outlook for 2025. Costar Group expects revenue in the range of $3.135 billion to $3.155 billion for the full year 2025, representing revenue growth of approximately 15% year-over-year at the midpoint of the range. The company also anticipates adjusted EBITDA in the range of $370 million to $390 million for the full year 2025, marking an increase of $10 million at the midpoint of the range from its previous guidance.
Costar Group's Q2 2025 results are a testament to its strong performance, marked by substantial revenue growth and increased net new bookings, showcasing the company's robust position in the online real estate marketplaces and analytics sector. Today the company's shares have moved 0.14% to a price of $85.125. Check out the company's full 8-K submission here.
