Filing Flows › Zillow Group (ZG) › Q3 2026 › vs Q3 2025
Zillow Group (ZG) Q3 2026 vs Q3 2025 (year over year)
Zillow Group's revenue rose $48.0M (+7%) from $676M in Q3 2025 to $724M in Q3 2026. The biggest changes: Rentals +$46.0M (+26%); Sales Revenue +$1.0M (+0.2%); Other +$1.0M (+7%).
Zillow Group, Q3 2026: revenue $724M (+7% year over year), operating margin -22.2%, net loss $158M, operating cash flow $162M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 17.7% | 10.8% | +6.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Residential | $419M | $435M | −$16.0M | -4% |
| Mortgages | $70.0M | $53.0M | $17.0M | +32% |
| Sales Revenue | $489M | $488M | $1.0M | +0.2% |
| Rentals | $220M | $174M | $46.0M | +26% |
| Other | $15.0M | $14.0M | $1.0M | +7% |
| Revenue | $724M | $676M | $48.0M | +7% |
| Other income, net | $6.0M | $15.0M | −$9.0M | -60% |
| Net loss | $158M | −$10.0M | $168M | — |
| Costs & expenses | $888M | $691M | $197M | +29% |
| Operating costs | $885M | $679M | $206M | +30% |
| Income tax | $3.0M | $2.0M | $1.0M | +50% |
| Cost of revenue | $208M | $185M | $23.0M | +12% |
| Research & development | $150M | $151M | −$1.0M | -0.7% |
| Sales & marketing | $216M | $214M | $2.0M | +0.9% |
| General & admin | $279M | $127M | $152M | +120% |
| Other operating costs | $32.0M | $2.0M | $30.0M | 16× |
| Operating cash sources | $320M | $95.0M | $225M | +237% |
| Depreciation & amortization | $64.0M | $67.0M | −$3.0M | -4% |
| Share-based compensation | $86.0M | $99.0M | −$13.0M | -13% |
| Working capital & other | $170M | −$71.0M | $241M | — |
| Net loss absorbed | $158M | −$10.0M | $168M | — |
| Operating cash flow | $162M | $105M | $57.0M | +54% |
| Free cash flow (OCF − capex) | $128M | $73.0M | $55.0M | +75% |
| Capital expenditures | $34.0M | $32.0M | $2.0M | +6% |
Questions
How much did Zillow Group's revenue grow year over year in Q3 2026?
Zillow Group's revenue rose $48.0M (+7%) from $676M in Q3 2025 to $724M in Q3 2026.
What drove Zillow Group's revenue change in Q3 2026?
Rentals +$46.0M (+26%); Sales Revenue +$1.0M (+0.2%); Other +$1.0M (+7%).