PRESS RELEASE

WASHINGTON-- 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, 2020, was $397 million, an increase of 16% over revenue of $344 million for the second quarter of 2019. Net income for the second quarter of 2020 was $60 million, or $1.60 per diluted share. Adjusted EBITDA (which excludes stock-based compensation, acquisition and integration related costs and other items as described below) for the second quarter of 2020 was $129 million, an increase of 17% compared to adjusted EBITDA of $110 million for the second quarter of 2019.

“Our team delivered an outstanding set of results in the second quarter as we grew revenue 16%, increased adjusted EBITDA by 17%, set a record sales month, raised $2.7 billion dollars in the equity and debt markets and acquired Ten-X – all while working 100% from remote locations,” said Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group. “Our results indicate that our business is not only resilient but is in fact clearly countercyclical. Traffic to our Apartments.com and LoopNet marketplaces are at record levels, exceeding pre-pandemic levels. We had 62 million monthly unique visitors on our platforms in the second quarter, an increase of 13% over our record traffic levels of 55 million monthly unique visitors reached in the first quarter of 2020.”

Florance continued, “We generated company-wide net new sales bookings of $35 million in the second quarter of 2020, with sales levels increasing each month to a record $22 million of annualized net new sales in June. Our Apartments.com platform delivered record sales, traffic and revenue in the second quarter, once again demonstrating that our solutions are mission critical to our clients, and even more so in an environment of limited person-to-person contact. Our increased brand marketing campaign is producing strong results, generating over three billion impressions in the second quarter, an increase of 57% over the second quarter of 2019. Our investment to create higher levels of brand awareness is driving record sales results.”

Year 2019-2020 Quarterly Results - Unaudited
(in millions, except per share data)
		2019								2020
		Q1		Q2		Q3		Q4		Q1		Q2
Revenues		$328		$344		$353		$375		$392		$397
Net income		85		63		79		88		73		60
Net income per share - diluted		2.33		1.73		2.15		2.39		1.98		1.60
Weighted average outstanding shares - diluted		36.6		36.6		36.7		36.7		36.8		37.7
EBITDA		113		94		113		125		100		109
Adjusted EBITDA		125		110		129		142		124		129
Non-GAAP net income		92		82		96		103		90		88
Non-GAAP net income per share - diluted		2.53		2.23		2.61		2.82		2.44		2.34

Non-GAAP net income (which excludes amortization of acquired intangible assets, stock-based compensation and other items as described below) for the second quarter of 2020 was $88 million or $2.34 per diluted share.

2020 Outlook

With our strong financial results in the second quarter and the initial disruption from the COVID-19 pandemic behind us, we are reinstating guidance for the full year 2020.

The Company expects revenue in the range of $1.63 billion to $1.64 billion for the full year of 2020, representing growth of approximately 17% for the year. This guidance includes an estimated partial year 2020 revenue contribution from Ten-X of $25 to $30 million. We expect revenue for the third quarter of 2020 in the range of $415 million to $420 million, representing revenue growth of 18% year-over-year at the midpoint of the range.

The Company expects adjusted EBITDA in a range of $515 million to $525 million for the full year of 2020, an increase of 3% at the midpoint of the range compared to 2019. Ten-X is not expected to have a material impact on adjusted EBITDA in the second half of 2020. For the third quarter of 2020, the Company expects adjusted EBITDA in a range of $120 million to $125 million.

We expect full-year 2020 non-GAAP net income per diluted share in a range of $9.22 to $9.42 based on 38.3 million shares. For the third quarter of 2020, we expect non-GAAP net income per diluted share in a range of $2.00 to $2.10 based on 39.4 million shares. These ranges include an estimated non-GAAP tax rate of 25% for the full year and the third quarter.

The preceding guidance does not include any operating results from the proposed RentPath acquisition.

The preceding forward-looking statements reflect CoStar Group’s expectations as of July 28, 2020, including forward-looking non-GAAP financial measures on a consolidated basis, based on current estimates, expectations, observations and trends. Given the risk factors, rapidly evolving economic environment, and uncertainties and assumptions discussed in this release and in our quarterly reports on Form 10-Q and annual reports on Form 10-K, including uncertainties as a result of the COVID-19 pandemic and responses to it by, and the impact on, global economies, actual results may differ materially. Other than in publicly available statements, the Company does not intend to update its forward-looking statements until its next quarterly results announcement.

Reconciliation of EBITDA, adjusted EBITDA, non-GAAP net income and non-GAAP net income per diluted share to their GAAP basis results are shown in detail below, along with definitions for those terms. A reconciliation of forward-looking non-GAAP guidance to the most directly comparable GAAP measure, net income, can be found within the tables included in this release.

Non-GAAP Financial Measures

For information regarding the purpose for which management uses the non-GAAP financial measures disclosed in this release and why management believes they provide useful information to investors regarding the Company’s financial condition and results of operations, please refer to the Company’s latest periodic report.

EBITDA is a non-GAAP financial measure that represents GAAP net income attributable to CoStar Group before interest (expense) income and other (expense) income, loss on debt extinguishment, income taxes, depreciation and amortization.

Adjusted EBITDA is a non-GAAP financial measure that represents EBITDA before stock-based compensation expense, acquisition- and integration-related costs for pending and completed acquisitions, restructuring costs, and settlements and impairments incurred outside the Company’s normal course of business.

Non-GAAP net income is a non-GAAP financial measure determined by adjusting GAAP net income attributable to CoStar Group for stock-based compensation expense, acquisition- and integration-related costs for pending and completed acquisitions, restructuring costs, settlement and impairment costs incurred outside the Company's normal course of business and loss on debt extinguishment, as well as amortization of acquired intangible assets and other related costs, and then subtracting an assumed provision for income taxes. In 2020, the Company is assuming a 25% tax rate in order to approximate our statutory corporate tax rate excluding the impact of discrete items.

Non-GAAP net income per diluted share is a non-GAAP financial measure that represents non-GAAP net income divided by the number of diluted shares outstanding for the period used in the calculation of GAAP net income per diluted share. For periods with GAAP net losses and non-GAAP net income, the weighted average outstanding shares used to calculate non-GAAP net income per share includes potentially dilutive securities that were excluded from the calculation of GAAP net income per share as the effect was anti-dilutive.

Earnings Conference Call

Management will conduct a conference call at 5:00 PM EDT on Tuesday, July 28, 2020 to discuss earnings results for the second quarter 2020 and the Company’s outlook. The audio portion of the conference call will be broadcast live over the Internet at investors.costargroup.com. To join the conference call by telephone, please dial (833) 714-0936 (from the United States and Canada) or +1 778 560 2890 (from all other countries) and refer to access code 9066087. The webcast replay will also be available in the Investor section of CoStar Group's website for a period of time following the call.

CoStar Group, Inc.
Condensed Consolidated Statements of Operations - Unaudited
(in thousands, except per share data)
		Three Months Ended June 30,							Six Months Ended June 30,
		2020				2019			2020				2019
Revenues		$	397,159			$	343,760		$	789,006			$	672,185
Cost of revenues			74,040				71,918			152,949				143,071
Gross profit			323,119				271,842			636,057				529,114
Operating expenses:
Selling and marketing (excluding customer base amortization)			130,461				119,075			255,568				207,169
Software development			39,001				28,455			80,611				56,383
General and administrative			57,403				42,337			116,276				82,413
Customer base amortization			14,935				7,175			26,419				14,857
			241,800				197,042			478,874				360,822
Income from operations			81,319				74,800			157,183				168,292
Interest (expense) income			(3,596	)			4,678			(1,945	)			8,890
Other (expense) income			(474	)			538			367				539
Income before income taxes			77,249				80,016			155,605				177,721
Income tax expense			16,889				16,768			22,452				29,304
Net income		$	60,360			$	63,248		$	133,153			$	148,417
Net income per share - basic		$	1.61			$	1.74		$	3.60			$	4.09
Net income per share - diluted		$	1.60			$	1.73		$	3.57			$	4.06
Weighted average outstanding shares - basic			37,524				36,310			36,998				36,273
Weighted average outstanding shares - diluted			37,734				36,627			37,256				36,597

CoStar Group, Inc.
Reconciliation of Non-GAAP Financial Measures - Unaudited
(in thousands, except per share data)
Reconciliation of Net Income to Non-GAAP Net Income
		Three Months Ended June 30,								Six Months Ended June 30,
		2020				2019				2020				2019
Net income		$	60,360			$	63,248			$	133,153			$	148,417
Income tax expense			16,889				16,768				22,452				29,304
Income before income taxes			77,249				80,016				155,605				177,721
Amortization of acquired intangible assets			20,989				12,208				38,478				25,403
Stock-based compensation expense			9,527				13,816				24,707				25,845
Acquisition and integration related costs			10,031				492				18,744				741
Restructuring and related costs			—				2,180				—				2,248
Non-GAAP income before income taxes			117,796				108,712				237,534				231,958
Assumed rate for income tax expense *			25	%			25	%			25	%			25	%
Assumed provision for income tax expense			(29,449	)			(27,178	)			(59,384	)			(57,989	)
Non-GAAP net income		$	88,347			$	81,534			$	178,150			$	173,969
Net income per share - diluted		$	1.60			$	1.73			$	3.57			$	4.06
Non-GAAP net income per share - diluted		$	2.34			$	2.23			$	4.78			$	4.75
Weighted average outstanding shares - basic			37,524				36,310				36,998				36,273
Weighted average outstanding shares - diluted			37,734				36,627				37,256				36,597
* A 25% tax rate is assumed for 2020 and 2019, which approximates our statutory corporate tax rate.
Reconciliation of Net Income to EBITDA and Adjusted EBITDA
		Three Months Ended June 30,								Six Months Ended June 30,
		2020				2019				2020				2019
Net income		$	60,360			$	63,248			$	133,153			$	148,417
Amortization of acquired intangible assets in cost of revenues			6,054				5,033				12,059				10,546
Amortization of acquired intangible assets in operating expenses			14,935				7,175				26,419				14,857
Depreciation and other amortization			6,990				6,546				13,757				13,010
Interest expense (income)			3,596				(4,678	)			1,945				(8,890	)
Other expense (income)			474				(538	)			(367	)			(539	)
Income tax expense			16,889				16,768				22,452				29,304
EBITDA		$	109,298			$	93,554			$	209,418			$	206,705
Stock-based compensation expense			9,527				13,816				24,707				25,845
Acquisition and integration related costs			10,031				492				18,744				741
Restructuring and related costs			—				2,180				—				2,248
Adjusted EBITDA		$	128,856			$	110,042			$	252,869			$	235,539

CoStar Group, Inc.
Condensed Consolidated Balance Sheets - Unaudited
(in thousands)
		June 30, 2020				December 31, 2019
ASSETS
Current assets:
Cash, cash equivalents and restricted cash		$	3,548,405			$	1,070,731
Accounts receivable			127,030				96,788
Less: Allowance for credit losses			(13,363	)			(4,548	)
Accounts receivable, net			113,667				92,240
Prepaid expenses and other current assets			28,576				36,194
Total current assets			3,690,648				1,199,165
Long-term investments			—				10,070
Deferred income taxes, net			4,372				5,408
Property and equipment, net			104,316				107,529
Lease right-of-use assets			112,641				115,084
Goodwill			2,009,117				1,882,020
Intangible assets, net			437,550				421,196
Deferred commission costs, net			91,712				89,374
Deposits and other assets			13,868				9,232
Income tax receivable			14,806				14,908
Total assets		$	6,479,030			$	3,853,986
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable		$	26,864			$	7,640
Accrued wages and commissions			56,748				53,087
Accrued expenses			45,726				38,680
Income taxes payable			22,764				10,705
Lease liabilities			30,905				29,670
Deferred revenue			80,358				67,274
Total current liabilities			263,365				207,056
Long-term debt			745,000				—
Deferred income taxes, net			93,934				87,096
Income taxes payable			20,738				20,521
Lease and other long-term liabilities			131,672				133,720
Total liabilities		$	1,254,709			$	448,393
Total CoStar, Inc. stockholders’ equity			5,224,321				3,405,593
Total liabilities and stockholders’ equity		$	6,479,030			$	3,853,986

CoStar Group, Inc.
Condensed Consolidated Statements of Cash Flows - Unaudited
(in thousands)
		Six Months Ended June 30,
		2020				2019
Operating activities:
Net income		$	133,153			$	148,417
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			52,235				38,413
Amortization of deferred commissions costs			29,662				25,550
Amortization of debt issuance costs			508				438
Realized loss on investments			541				—
Non-cash lease expense			12,400				10,859
Stock-based compensation expense			24,053				25,845
Deferred income taxes, net			3,569				6,359
Credit loss expense			15,688				5,224
Foreign currency, net			(789	)			—
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable			(37,364	)			(10,898	)
Income taxes payable			12,328				(5,577	)
Prepaid expenses and other current assets			4,371				1,751
Deferred commissions			(32,122	)			(33,397	)
Other assets			(6,757	)			236
Accounts payable and other liabilities			37,793				22,691
Lease liabilities			(14,126	)			(12,977	)
Deferred revenue			13,503				10,633
Net cash provided by operating activities			248,646				233,567
Investing activities:
Proceeds from sale and settlement of investments			10,259				—
Purchases of property and equipment and other assets			(12,782	)			(14,387	)
Cash paid for acquisitions, net of cash acquired			(184,502	)			(13,721	)
Net cash used in investing activities			(187,025	)			(28,108	)
Financing activities:
Proceeds from long-term debt			745,000				—
Repurchase of restricted stock to satisfy tax withholding obligations			(33,653	)			(24,225	)
Proceeds from equity offering, net of transaction costs			1,690,148				—
Proceeds from exercise of stock options and employee stock purchase plan			16,513				16,695
Other financing activities			(1,650	)			(123	)
Net cash provided by (used in) financing activities			2,416,358				(7,653	)
Effect of foreign currency exchange rates on cash and cash equivalents			(305	)			(410	)
Net increase in cash, cash equivalents and restricted cash			2,477,674				197,396
Cash, cash equivalents and restricted cash at the beginning of period			1,070,731				1,100,416
Cash, cash equivalents and restricted cash at the end of period		$	3,548,405			$	1,297,812

CoStar Group, Inc.
Disaggregated Revenues - Unaudited
(in thousands)
		Three Months Ended June 30,
		2020									2019
		North America			International			Total			North America			International			Total
Information and analytics
CoStar Suite		$	157,793		$	7,260		$	165,053		$	145,910		$	6,915		$	152,825
Information services			25,022			5,514			30,536			18,659			2,118			20,777
Online marketplaces
Multifamily			145,541			—			145,541			120,488			—			120,488
Commercial property and land			56,006			23			56,029			49,505			165			49,670
Total revenues		$	384,362		$	12,797		$	397,159		$	334,562		$	9,198		$	343,760
		Six Months Ended June 30,
		2020									2019
		North America			International			Total			North America			International			Total
Information and analytics
CoStar Suite		$	315,128		$	14,881		$	330,009		$	286,883		$	13,643		$	300,526
Information services			50,712			12,206			62,918			35,250			4,377			39,627
Online marketplaces
Multifamily			283,001			—			283,001			234,756			—			234,756
Commercial property and land			112,968			110			113,078			96,910			366			97,276
Total revenues		$	761,809		$	27,197		$	789,006		$	653,799		$	18,386		$	672,185

CoStar Group, Inc.
Results of Segments - Unaudited
(in thousands)
		Three Months Ended June 30,								Six Months Ended June 30,
		2020				2019				2020				2019
EBITDA
North America		$	112,292			$	95,001			$	214,705			$	210,269
International			(2,994	)			(1,447	)			(5,287	)			(3,564	)
Total EBITDA		$	109,298			$	93,554			$	209,418			$	206,705

CoStar Group, Inc.
Reconciliation of Non-GAAP Financial Measures with 2019-2020 Quarterly Results - Unaudited
(in millions, except per share data)
Reconciliation of Net Income to Non-GAAP Net Income
		2019												2020
		Q1			Q2			Q3			Q4			Q1			Q2
Net income		$85.2			$63.2			$78.6			$87.9			$72.8			$60.4
Income tax expense		12.5			16.8			20.3			26.4			5.6			16.9
Income before income taxes		97.7			80.0			98.9			114.3			78.4			77.2
Amortization of acquired intangible assets		13.2			12.2			12.5			17.4			17.5			21.0
Stock-based compensation expense		12.0			13.8			13.1			13.3			15.2			9.5
Acquisition and integration related costs		0.2			0.5			2.3			3.7			8.7			10.0
Restructuring and related costs		0.1			2.2			0.8			—			—			—
Settlements and impairments		—			—			—			(10.8	)		—			—
Non-GAAP income before income taxes		123.2			108.7			127.6			137.9			119.8			117.7
Assumed rate for income tax expense *		25	%		25	%		25	%		25	%		25	%		25	%
Assumed provision for income tax expense		(30.8	)		(27.2	)		(31.9	)		(34.5	)		(30.0	)		(29.4	)
Non-GAAP net income		$92.4			$81.5			$95.7			$103.4			$89.8			$88.3
Non-GAAP net income per share - diluted		$2.53			$2.23			$2.61			$2.82			$2.44			$2.34
Weighted average outstanding shares - basic		36.2			36.3			36.3			36.4			36.5			37.5
Weighted average outstanding shares - diluted		36.6			36.6			36.7			36.7			36.8			37.7
* A 25% tax rate is assumed for 2020 and 2019, which approximates our statutory corporate tax rate.
Reconciliation of Net Income to EBITDA and Adjusted EBITDA
		2019												2020
		Q1			Q2			Q3			Q4			Q1			Q2
Net income		$85.2			$63.2			$78.6			$87.9			$72.8			$60.4
Amortization of acquired intangible assets		13.2			12.2			12.5			17.4			17.5			21.0
Depreciation and other amortization		6.5			6.5			6.3			6.5			6.8			7.0
Interest expense (income)		(4.2	)		(4.7	)		(4.4	)		(3.4	)		(1.7	)		3.6
Other expense (income)		—			(0.5	)		(0.2	)		(9.9	)		(0.8	)		0.4
Income tax expense		12.5			16.8			20.3			26.4			5.6			16.9
EBITDA		$113.2			$93.5			$113.0			$124.9			$100.2			$109.3
Stock-based compensation expense		12.0			13.8			13.1			13.3			15.1			9.5
Acquisition and integration related costs		0.2			0.5			2.3			3.7			8.7			10.0
Restructuring and related costs		0.1			2.2			0.8			—			—			—
Adjusted EBITDA		$125.5			$110.0			$129.2			$141.9			$124.0			$128.8

CoStar Group, Inc.
Reconciliation of Forward-Looking Guidance - Unaudited
(in thousands, except per share data)
Reconciliation of Forward-Looking Guidance, Net Income to Non-GAAP Net Income
		Guidance Range
		For the Three Months								For the Twelve Months
		Ended September 30, 2020								Ended December 31, 2020
		Low				High				Low				High
Net income		$	39,000			$	45,000			$	239,000			$	250,000
Income tax expense			10,000				11,000				53,000				56,000
Income before income taxes			49,000				56,000				292,000				306,000
Amortization of acquired intangible assets			25,000				25,000				87,000				87,000
Stock-based compensation expense			15,000				14,000				55,000				53,000
Acquisition and integration related costs			16,000				15,000				37,000				35,000
Non-GAAP income before income taxes			105,000				110,000				471,000				481,000
Assumed rate for income tax expense *			25	%			25	%			25	%			25	%
Assumed provision for income tax expense			(26,300	)			(27,400	)			(118,000	)			(120,300	)
Non-GAAP net income		$	78,700			$	82,600			$	353,000			$	360,700
Net income per share - diluted		$	0.99			$	1.14			$	6.24			$	6.53
Non-GAAP net income per share - diluted		$	2.00			$	2.10			$	9.22			$	9.42
Weighted average outstanding shares - diluted			39,400				39,400				38,300				38,300
* A 25% tax rate is assumed, which approximates our statutory corporate tax rate.
Reconciliation of Forward-Looking Guidance, Net Income to Adjusted EBITDA
		Guidance Range								Guidance Range
		For the Three Months								For the Twelve Months
		Ended September 30, 2020								Ended December 31, 2020
		Low				High				Low				High
Net income		$	39,000			$	45,000			$	239,000			$	250,000
Amortization of acquired intangible assets			25,000				25,000				87,000				87,000
Depreciation and other amortization			7,000				7,000				27,000				27,000
Interest and other expense, net			8,000				8,000				17,000				17,000
Income tax expense			10,000				11,000				53,000				56,000
Stock-based compensation expense			15,000				14,000				55,000				53,000
Acquisition and integration related costs			16,000				15,000				37,000				35,000
Adjusted EBITDA		$	120,000			$	125,000			$	515,000			$	525,000

About CoStar Group, Inc.

CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality sector. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online with over 7 million monthly unique visitors. Realla is the UK’s most comprehensive commercial property digital marketplace. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group’s websites attracted an average of approximately 62 million unique monthly visitors in aggregate in the second quarter of 2020. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe, Canada and Asia with a staff of over 4,200 worldwide, including the industry’s largest professional research organization. For more information, visit www.costargroup.com.

This news release and the Company’s earnings conference call contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about CoStar's plans, objectives, expectations, beliefs and intentions and other statements including words such as “hope,” “anticipate,” “may,” “believe,” “expect,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of management of CoStar and are subject to many risks and uncertainties. Actual results may differ materially from the results anticipated in the forward-looking statements and the assumptions and estimates used as a basis for the forward-looking statements. The following factors, among others, could cause or contribute to such differences: uncertainty surrounding the impact of the COVID-19 pandemic, including volatility in the international and U.S. economy, worker absenteeism or decreased productivity, quarantines or other travel or health-related restrictions; the length and severity of the COVID-19 pandemic; the pace of recovery following the COVID-19 pandemic; government and private actions taken to control the spread of COVID-19; the risk that the trends stated or implied by this release or in the earnings conference call cannot or will not be sustained at the current pace or may increase or decrease, including trends related to revenue, net income, non-GAAP net income, EBITDA, adjusted EBITDA, site traffic and visitors, sales, renewal rates, impressions and brand awareness; the risk that the Company is unable to sustain current revenue, earnings and net new sales bookings growth rates or increase them; the risk that CoStar and Ten-X cannot be combined successfully or that the acquisition does not produce the expected results; the risk that Ten-X’s auction platform is not combined into the Company’s product offerings when and as expected; the risk that the Company’s estimated results for Ten-X, including partial year 2020 revenue contribution and adjusted EBITDA impact in the second half of 2020 will not be as expected and stated in this release; the risk that revenues for the third quarter and full year 2020 will not be as stated in this press release; the risk that net income for the third quarter and full year 2020 will not be as stated in this press release; the risk that adjusted EBITDA for the third quarter and full year 2020 will not be as stated in this press release; the risk that non-GAAP net income and non-GAAP net income per diluted share for the third quarter and full year 2020 will not be as stated in this press release; the risk that the tax rate estimates stated in this press release may change; the possibility that the Company’s investment plans or strategy may change; and the possibility that the acquisition of RentPath does not close when expected or at all. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar’s filings from time to time with the Securities and Exchange Commission, including in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2019, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, each of which is filed with the SEC, including in the “Risk Factors” section of those filings, as well as CoStar’s other filings with the SEC available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Scott Wheeler
Chief Financial Officer
(202) 336-6920
swheeler@costar.com

Sarah Spray
Vice President
Investor Relations
(202) 346-6394
sspray@costar.com

 

Source: CoStar Group, Inc.