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CoStar
🇺🇸 NASDAQ:CSGP
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•
Dec 31, 2021

CoStar Q4 2021 Earnings Report

CoStar Group's revenue increased and net sales bookings grew, marking a strong finish to the year.

Key Takeaways

CoStar Group reported a 14% increase in revenue for Q4 2021, reaching $507 million. Net income for the quarter increased by 160% to $93 million, or $0.24 per diluted share. Net sales bookings reached an all-time high of $67 million. The company's Q4 revenue run rate is now over $2 billion.

CoStar Group's Q4 2021 revenue increased by 14% year-over-year to $507 million.

Net income for Q4 2021 was $93 million, a 160% increase compared to Q4 2020.

Company-wide net sales bookings for Q4 2021 reached an all-time high of $67 million.

Residential property revenue reached $75 million for the full year, with Homesnap products growing over 50%.

Total Revenue
$507M
Previous year: $444M
+14.0%
EPS
$0.35
Previous year: $0.29
+20.7%
EBITDA
$173M
Adjusted EBITDA
$193M
Previous year: $167M
+15.8%
Gross Profit
$420M
Previous year: $366M
+14.8%
Cash and Equivalents
$3.83B
Previous year: $3.76B
+1.9%
Free Cash Flow
$150M
Previous year: $131M
+15.0%
Total Assets
$7.26B
Previous year: $6.92B
+4.9%

CoStar

CoStar

CoStar Revenue by Segment

CoStar Revenue by Geographic Location

Forward Guidance

The Company expects revenue in the range of $2.145 billion to $2.165 billion for the full year of 2022, representing growth of approximately 11% year-over-year at the midpoint of the range. We expect revenue for the first quarter of 2022 in the range of $510 million to $515 million, representing revenue growth of approximately 12% year-over-year at the midpoint of the range.

Positive Outlook

  • Revenue in the range of $2.145 billion to $2.165 billion for the full year of 2022
  • Revenue growth of approximately 11% year-over-year at the midpoint of the range.
  • Revenue for the first quarter of 2022 in the range of $510 million to $515 million
  • Revenue growth of approximately 12% year-over-year at the midpoint of the range.
  • Adjusted EBITDA in a range of $565 million to $605 million for the full year of 2022

Challenges Ahead

  • Adjusted EBITDA a decrease of $62 million, or 10%, at the midpoint of the range compared to 2021.
  • Adjusted EBITDA in a range of $155 million to $160 million for the first quarter of 2022.
  • Increase the level of investment in Residential to a range of approximately $300 to $320 million for the full year of 2022
  • Uncertainty surrounding the impact of the COVID-19 pandemic
  • Volatility in the international and U.S. economy and the real estate industry

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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