Filing Flows › Zillow Group (ZG) › Q2 2026 › vs Q2 2025
Zillow Group (ZG) Q2 2026 vs Q2 2025 (year over year)
Zillow Group's revenue rose $117M (+18%) from $655M in Q2 2025 to $772M in Q2 2026. The biggest changes: Sales Revenue +$67.0M (+14%); Rentals +$50.0M (+31%); Other +$0 (0%).
Zillow Group, Q2 2026: revenue $772M (+18% year over year), operating margin -1.3%, net loss $4.0M, operating cash flow $11.0M. The chart draws each line against Q2 2025, the increases inside each band.
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Residential | $465M | $434M | $31.0M | +7% |
| Mortgages | $84.0M | $48.0M | $36.0M | +75% |
| Sales Revenue | $549M | $482M | $67.0M | +14% |
| Rentals | $209M | $159M | $50.0M | +31% |
| Other | $14.0M | $14.0M | $0 | 0% |
| Revenue | $772M | $655M | $117M | +18% |
| Other income, net | $7.0M | $13.0M | −$6.0M | -46% |
| Net loss | $4.0M | −$2.0M | $6.0M | — |
| Costs & expenses | $783M | $668M | $115M | +17% |
| Operating costs | $782M | $666M | $116M | +17% |
| Income tax | $1.0M | $0 | $1.0M | — |
| Cost of revenue | $210M | $166M | $44.0M | +27% |
| Research & development | $156M | $153M | $3.0M | +2% |
| Sales & marketing | $249M | $226M | $23.0M | +10% |
| General & admin | $131M | $121M | $10.0M | +8% |
| Operating cash sources | $153M | $166M | −$13.0M | -8% |
| Depreciation & amortization | $65.0M | $67.0M | −$2.0M | -3% |
| Share-based compensation | $88.0M | $99.0M | −$11.0M | -11% |
| Net loss absorbed | $4.0M | −$2.0M | $6.0M | — |
| Working capital & other | $138M | $81.0M | $57.0M | +70% |
| Operating cash flow | $11.0M | $87.0M | −$76.0M | -87% |
| Capital expenditures | $36.0M | $37.0M | −$1.0M | -3% |
| Negative free cash flow (OCF − capex) | $25.0M | −$50.0M | $75.0M | — |
Questions
How much did Zillow Group's revenue grow year over year in Q2 2026?
Zillow Group's revenue rose $117M (+18%) from $655M in Q2 2025 to $772M in Q2 2026.
What drove Zillow Group's revenue change in Q2 2026?
Sales Revenue +$67.0M (+14%); Rentals +$50.0M (+31%); Other +$0 (0%).