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Dec 31, 2020
CoStar Q4 2020 Earnings Report
CoStar Group's Q4 2020 revenue increased by 19% year-over-year, with traffic to marketplaces growing by 29%.
Key Takeaways
CoStar Group reported a strong Q4 2020, with revenue reaching $444 million, a 19% increase year-over-year. The company's marketplaces saw a 29% growth in traffic, and adjusted EBITDA increased by 18% to $167 million.
Revenue for Q4 2020 reached $444 million, a 19% increase compared to Q4 2019.
Adjusted EBITDA for Q4 2020 was $167 million, an 18% increase year-over-year.
Traffic to CoStar Group's marketplaces grew by 29% in Q4 2020.
Apartments.com revenues grew 22% and LoopNet marketplace network revenue grew 20%.
CoStar
CoStar
CoStar Revenue by Segment
CoStar Revenue by Geographic Location
Revenue by Segment
CoStar Revenue
CapyFin.comInformation Services Revenue
CapyFin.comMultifamily Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The Company expects revenue in the range of $1.925 billion to $1.945 billion for the full year of 2021 and adjusted EBITDA in a range of $640 million to $650 million.
Positive Outlook
- Expects revenue in the range of $1.925 billion to $1.945 billion for the full year of 2021, representing growth of approximately 17% year-over-year at the midpoint of the range.
- Expects revenue for the first quarter of 2021 in the range of $450 million to $455 million, representing revenue growth of 15% year-over-year at the midpoint of the range.
- The Company expects adjusted EBITDA in a range of $640 million to $650 million for the full year of 2021, an increase of 17% at the midpoint of the range compared to 2020.
- For the first quarter of 2021, the Company expects adjusted EBITDA in a range of $140 million to $145 million.
- Expect full year 2021 non-GAAP net income per diluted share in a range of $10.83 to $11.03 based on 39.7 million shares.
Challenges Ahead
- Homesnap is expected to have negative adjusted EBITDA of approximately $5 million for the year.
- For the first quarter of 2021, we expect non-GAAP net income per diluted share in a range of $2.33 to $2.43 based on 39.5 million shares.
- 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, including uncertainties as a result of the COVID-19 pandemic and responses to it by, and the impact on, global economies, actual results may differ materially.
- Uncertainty surrounding the impact of the COVID-19 pandemic, including volatility in the international and U.S. economy, worker absenteeism or decreased productivity, quarantines or other travel or health-related restrictions
- The length and severity of the COVID-19 pandemic
Revenue & Expenses
Visualization of income flow from segment revenue to net income