Overview
- Q3 revenue rose to $834 million versus $813.1 million expected, with adjusted EPS of $0.23 topping the $0.18 consensus.
- Net new bookings reached $84 million, up 92% year over year, with momentum cited across subscription platforms including Homes.com.
- Full-year 2025 revenue guidance increased to $3.23 billion–$3.24 billion from $3.14 billion–$3.16 billion previously.
- Fourth-quarter adjusted EPS was guided to $0.26–$0.28, with the midpoint below analysts’ estimates, and shares fell nearly 3% in extended trading.
- Operating profitability remained pressured by elevated sales and marketing spend (~50% of revenue), as CoStar ramps Homes.com sales capacity (>26,000 subscribing agents; ~500 reps) and Apartments.com reported strong retention and expansion.