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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
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