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Dec 31, 2022
CoStar Q4 2022 Earnings Report
CoStar Group's Q4 2022 earnings were released, with revenue increasing by 13% year-over-year and Apartments.com experiencing significant growth.
Key Takeaways
CoStar Group reported a 13% increase in revenue for Q4 2022, reaching $573 million. The company's Apartments.com platform saw substantial growth, with net new bookings increasing by 177% compared to the same period in 2021.
CoStar Group's Q4 2022 revenue increased by 13% year-over-year.
Apartments.com experienced a 16% year-over-year revenue growth in Q4 2022.
Net new bookings for Apartments.com in Q4 2022 increased by 177% compared to the same period in 2021.
Traffic to Homes.com network has passed 20 million unique monthly visitors.
CoStar
CoStar
CoStar Revenue by Segment
CoStar Revenue by Geographic Location
Revenue by Segment
CoStar Revenue
CapyFin.comInformation Services Revenue
CapyFin.comMultifamily Revenue
CapyFin.comLoopNet Revenue
CapyFin.comResidential Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The Company expects revenue in the range of $2.46 billion to $2.48 billion for the full year of 2023, representing growth of approximately 13% year-over-year at the midpoint of the range.
Positive Outlook
- Revenue in the range of $2.46 billion to $2.48 billion for the full year of 2023
- Revenue growth of approximately 13% year-over-year at the midpoint of the range.
- Revenue for the first quarter of 2023 in the range of $575 million to $580 million
- Revenue growth of approximately 12% year-over-year at the midpoint of the range.
- Adjusted EBITDA in the range of $500 million to $520 million for the full year of 2023.
Challenges Ahead
- Adjusted EBITDA in the range of $500 million to $520 million for the full year of 2023.
- Adjusted EBITDA in the range of $111 million to $116 million for the first quarter of 2023.
- Full year 2023 non-GAAP net income per diluted share in a range of $1.06 to $1.09 based on 408 million shares.
- First quarter of 2023, the Company expects non-GAAP net income per diluted share in a range of $0.25 to $0.26 based on 407 million shares.
- These ranges include an estimated non-GAAP tax rate of 26% for the full year and the first quarter of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income