Filing Flows › Costar Group (CSGP) › Q2 2025
Costar Group (CSGP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 23, 2025
Costar Group (CSGP) reported revenue of $781M for the second quarter 2025 (Q2 2025), +15% from a year earlier and +7% from the quarter before. Operating margin was -3.5%, net earnings $6.0M (0.8% of revenue).
Costar Group, Q2 2025: revenue $781M (+15% year over year), operating margin -3.5%, net earnings $6.0M, operating cash flow $147M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $781M | +7% | +15% |
| Operating profit | −$27.0M | — | — |
| Net earnings | $6.0M | — | — |
| Operating cash flow | $147M | +177% | +153% |
| Free cash flow | $28.0M | — | — |
What changed
Revenue was $781.0M in Q2 2025, up 15% year over year and up 7% from the previous quarter. Multifamily was the largest line at 37% of revenue. Other Revenues added $43.5M year over year (up 139%), 42% of the total change.
Gross margin was 78.5%, down 1.5 points from a year earlier. Operating costs exceeded revenue by $27.0M, an operating margin of -3.5%. Operating expenses grew 15% against revenue growth of 15%. The fastest-growing cost line was Other operating costs (+37%). Net earnings were $6.0M, down 69% year over year. The effective tax rate was 72.7%. Non-operating items added $49.0M, 223% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $147.0M (up 153% year over year), 2450% of net earnings. Non-cash charges added back $66.0M of depreciation and amortization and $52.0M of share-based compensation. Working capital and other items added $23.0M. Capital expenditures of $119.0M left free cash flow of $28.0M.
Questions
What was Costar Group's revenue in the second quarter 2025?
Costar Group (CSGP) reported revenue of $781M for the second quarter 2025 (Q2 2025), +15% from a year earlier and +7% from the quarter before.
Was Costar Group profitable in the second quarter 2025?
Operating loss was $27.0M (-3.5% of revenue) and net earnings $6.0M.
Source: Costar Group 10-Q on SEC EDGAR.