CoStar Posts Record $952 Million Q3 Revenue and $74 Million Profit, Unveils $730 Million Vexcel Deal
Washington-based real estate data and marketplace company CoStar Group (Nasdaq: CSGP) reported third-quarter 2026 results on October 27: revenue rose 14% year over year to a record $952 million, net income swung to $74 million from a $31 million loss a year earlier, and diluted earnings were $0.18 per share. The company also announced an agreement to acquire aerial imagery company Vexcel Group for approximately $730 million in cash.
It was CoStar's 62nd consecutive quarter of double-digit revenue growth. Adjusted EBITDA doubled to a record $229 million and adjusted earnings were $0.38 per share, while income from operations was $84 million against an operating loss of $51 million a year earlier. Revenue for the first nine months of 2026 totaled $2.774 billion, with net income of $132 million.
Commercial real estate revenue rose about 7% to $492 million and residential revenue rose about 23% to $460 million. Apartments.com revenue increased 6% to $320 million, while Homes.com revenue jumped about 50% to roughly $31 million as membership grew 47% to more than 36,000. Net new bookings were $37 million, down from $84 million a year earlier, and the company said attrition in its inside sales team had been higher than hoped.
Vexcel is one of the largest aerial imagery companies in the world, capturing more than 60 million survey-grade images a year, with more than $140 million of revenue over the last 12 months, growth of more than 30%, nearly 500 employees and offices in Austria, Spain and Colorado. After closing, Vexcel will continue to operate its data program under its own brand, led by its CEO Erik Jorgensen.
CoStar raised its full-year 2026 guidance to revenue of $3.75 billion to $3.77 billion and adjusted EBITDA of $820 million to $840 million, and reaffirmed an adjusted EBITDA target of about $1.25 billion in 2028. Founder and CEO Andy Florance told the earnings call the quarter delivered record revenue and adjusted EBITDA, with cost control ahead of earlier guidance.
Source: GSM · USA (original Chinese edition)
Photo: 图：从 Memorial Bridge 一带航拍的 Washington 与北 Virginia 城区，CoStar Group 总部位于 Washington。照片：Carol M. Highsmith，公共领域，经 Wikimedia Commons。 / Photo: An aerial view across Memorial Bridge toward Washington and Northern Virginia; CoStar Group is headquartered in Washington. Photo by Carol M. Highsmith, public domain, via Wikimedia Commons.
