Page 1

EX - 99.1 2 q22021 earningspressrelease.htm EX - 99.1 CoStar Group ™ CoStar Group Second Quarter 2021 Revenue Increases 21 % Year - over - year , Visitors to CoStar Group Marketplaces up over 45 % Year - over - year Exhibit 99.1 - WASHINGTON – July 27 , 2021 - CoStar Group , Inc. ( NASDAQ : CSGP ) , the leading provider of commercial real estate information , analytics , and online marketplaces , announced today that revenue for the quarter ended June 30 , 2021 was $ 480 million , an increase of 21 % over revenue of $ 397 million for the second quarter of 2020 . Net income for the second quarter of 2021 was $ 61 million , or $ 0.16 per diluted share . Non - GAAP net income for the second quarter of 2021 ( which excludes amortization of acquired intangible assets , stock - based compensation , and other items as described below ) was $ 103 million or $ 0.26 per diluted share , an increase of $ 15 million or 16 % versus the second quarter of 2020 . EBITDA for the second quarter of 2021 was $ 133 million , an increase of 22 % versus EBITDA of $ 109 million for the second quarter of 2020. Adjusted EBITDA ( which excludes stock - based compensation , acquisition and integration related costs and other items as described below ) for the second quarter of 2021 was $ 150 million , an increase of 17 % compared to adjusted EBITDA of $ 129 million for the second quarter of 2020 . “ We saw incredibly strong performance across all of our businesses in the second quarter , with total revenue and profit ahead of forecast and the total numbers of visitors to our platforms up over 45 % year - over - year , " said Andrew C. Florance , Founder and Chief Executive Officer of CoStar Group . " CoStar Group net new bookings in the second quarter of 2021 increased 47 % over the second quarter of 2020 to $ 51 million . CoStar Suite net new bookings were the strongest in years , up over 900 % year - over - year and 19 % quarter - over - quarter in the second quarter . " " Apartments.com set a new traffic record with network visitors up 30 % year - over - year in the second quarter of 2021 , which resulted in a 57 % year - over - year increase in leads to our customers . Total leads generated by Apartments.com are up over 120 % since 2018 , ” continued Florance . “ During the second quarter of 2021 , our most economical ad packages generated more leads than our top - level packages were generating just a year ago . Without significant price increases during the pandemic , our effective price per lead dropped dramatically . This caused net new bookings in Apartments.com to fall from the record high levels achieved in the second quarter of 2020. Moving forward , we intend to adjust pricing to reflect the strength of our dramatically higher lead flows , which we believe will accelerate net new bookings . " " LoopNet Signature Ad revenue grew 71 % year - over - year in the second quarter of 2021 while unique visitors to our LoopNet network increased 33 % , " stated Florance . “ Ten - X revenue increased over 40 % year - over - year on a proforma basis in the second quarter of 2021 , as we are seeing increased volume of assets and higher value assets sold through our platform . Homesnap also performed very well in the second quarter of 2021 , with total revenue growth up 50 % year - over - year on a proforma basis , and total agent subscribers expanding 80 % to over 63,000 at the end of the second quarter . " " With great momentum in our core business , we are focused on significantly expanding our total addressable market by leveraging our strengths into the digitization of residential real estate and into