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10-Q Filing

COSTAR GROUP, INC. CIK: 1057352 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001057352-21-000067
Period End Date 20210331
Filing Date 20210428
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance csgp-20210331_htm.xml
Balance Sheet 64 line items
Line Item Tag Value Unit Period
Cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.76B USD Point-in-time
Cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.93B USD Point-in-time
Cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.07B USD Point-in-time
Cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.69B USD Point-in-time
Accounts receivable AccountsReceivableGrossCurrent $119.06M USD Point-in-time
Accounts receivable AccountsReceivableGrossCurrent $124.36M USD Point-in-time
Less: Allowance for credit losses AllowanceForDoubtfulAccountsReceivableCurrent $14.56M USD Point-in-time
Less: Allowance for credit losses AllowanceForDoubtfulAccountsReceivableCurrent $15.11M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $109.80M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $103.95M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $22.23M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $28.65M USD Point-in-time
Total current assets AssetsCurrent $3.82B USD Point-in-time
Total current assets AssetsCurrent $3.89B USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxAssetsNet $4.98M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxAssetsNet $3.63M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $126.33M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $239.48M USD Point-in-time
Lease right-of-use assets OperatingLeaseRightOfUseAsset $108.74M USD Point-in-time
Lease right-of-use assets OperatingLeaseRightOfUseAsset $90.95M USD Point-in-time
Goodwill Goodwill $2.21B USD Point-in-time
Goodwill Goodwill $2.24B USD Point-in-time
Goodwill Goodwill $1.88B USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $450.34M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $426.75M USD Point-in-time
Deferred commission costs, net DeferredCosts $93.06M USD Point-in-time
Deferred commission costs, net DeferredCosts $93.27M USD Point-in-time
Deposits and other assets DepositsAssetsNoncurrent $16.22M USD Point-in-time
Deposits and other assets DepositsAssetsNoncurrent $15.86M USD Point-in-time
Income tax receivable IncomeTaxesReceivableNoncurrent $14.99M USD Point-in-time
Income tax receivable IncomeTaxesReceivableNoncurrent $14.99M USD Point-in-time
Total assets Assets $6.92B USD Point-in-time
Total assets Assets $6.94B USD Point-in-time
Accounts payable AccountsPayableCurrent $15.73M USD Point-in-time
Accounts payable AccountsPayableCurrent $16.87M USD Point-in-time
Accrued wages and commissions EmployeeRelatedLiabilitiesCurrent $81.00M USD Point-in-time
Accrued wages and commissions EmployeeRelatedLiabilitiesCurrent $68.59M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $58.29M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $110.31M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $16.32M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $28.76M USD Point-in-time
Lease liabilities OperatingLeaseLiabilityCurrent $32.65M USD Point-in-time
Lease liabilities OperatingLeaseLiabilityCurrent $27.93M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $74.85M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $89.70M USD Point-in-time
Total current liabilities LiabilitiesCurrent $290.13M USD Point-in-time
Total current liabilities LiabilitiesCurrent $330.85M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $986.72M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $987.02M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $86.08M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $72.99M USD Point-in-time
Income taxes payable AccruedIncomeTaxesNoncurrent $25.39M USD Point-in-time
Income taxes payable AccruedIncomeTaxesNoncurrent $25.28M USD Point-in-time
Lease and other long-term liabilities LeaseAndOtherLiabilitiesNoncurrent $124.22M USD Point-in-time
Lease and other long-term liabilities LeaseAndOtherLiabilitiesNoncurrent $106.42M USD Point-in-time
Total liabilities Liabilities $1.54B USD Point-in-time
Total liabilities Liabilities $1.50B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.41B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.45B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.46B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.45B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.38B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $6.92B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $6.94B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $391.85M USD 1 Quarter
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $457.70M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $88.75M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $78.91M USD 1 Quarter
Gross profit GrossProfit $312.94M USD 1 Quarter
Gross profit GrossProfit $368.95M USD 1 Quarter
Selling and marketing (excluding customer base amortization) SellingAndMarketingExpense $125.11M USD 1 Quarter
Selling and marketing (excluding customer base amortization) SellingAndMarketingExpense $138.69M USD 1 Quarter
Software development ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost $41.61M USD 1 Quarter
Software development ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost $46.78M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $63.85M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $58.87M USD 1 Quarter
Customer base amortization AmortizationOfIntangibleAssets $18.42M USD 1 Quarter
Customer base amortization AmortizationOfIntangibleAssets $11.48M USD 1 Quarter
Total operating expenses OperatingExpenses $237.07M USD 1 Quarter
Total operating expenses OperatingExpenses $267.74M USD 1 Quarter
Income from operations OperatingIncomeLoss $101.21M USD 1 Quarter
Income from operations OperatingIncomeLoss $75.86M USD 1 Quarter
Interest (expense) income InterestIncomeExpenseNonoperatingNet $1.65M USD 1 Quarter
Interest (expense) income InterestIncomeExpenseNonoperatingNet $-7.88M USD 1 Quarter
Other (expense) income OtherNonoperatingIncomeExpense $841.00K USD 1 Quarter
Other (expense) income OtherNonoperatingIncomeExpense $-50.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $78.36M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $93.28M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $5.56M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $19.07M USD 1 Quarter
Net income IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $74.21M USD 1 Quarter
Net income IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $72.79M USD 1 Quarter
Net income per share-basic (in dollars per share) EarningsPerShareBasic $2.00 USD 1 Quarter
Net income per share-basic (in dollars per share) EarningsPerShareBasic $1.90 USD 1 Quarter
Net income per share-diluted (in dollars per share) EarningsPerShareDiluted $1.98 USD 1 Quarter
Net income per share-diluted (in dollars per share) EarningsPerShareDiluted $1.88 USD 1 Quarter
Weighted average outstanding shares-basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 36.47M shares 1 Quarter
Weighted average outstanding shares-basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 39.16M shares 1 Quarter
Weighted average outstanding shares-diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 36.78M shares 1 Quarter
Weighted average outstanding shares-diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 39.37M shares 1 Quarter
Cash Flow Statement 74 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $74.21M USD 1 Quarter
Net income NetIncomeLoss $74.21M USD 1 Quarter
Net income NetIncomeLoss $72.79M USD 1 Quarter
Net income NetIncomeLoss $72.79M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $35.41M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $24.26M USD 1 Quarter
Amortization of deferred commissions costs AmortizationOfDeferredSalesCommissions $15.32M USD 1 Quarter
Amortization of deferred commissions costs AmortizationOfDeferredSalesCommissions $14.75M USD 1 Quarter
Amortization of Senior Notes discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $578.00K USD 1 Quarter
Amortization of Senior Notes discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $292.00K USD 1 Quarter
Non-cash lease expense NonCashLeaseExpense $6.26M USD 1 Quarter
Non-cash lease expense NonCashLeaseExpense $6.48M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $15.18M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $15.54M USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $5.46M USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $2.83M USD 1 Quarter
Credit loss expense ProvisionForDoubtfulAccounts $1.82M USD 1 Quarter
Credit loss expense ProvisionForDoubtfulAccounts $6.18M USD 1 Quarter
Other operating activities, net OtherOperatingActivitiesCashFlowStatement $541.00K USD 1 Quarter
Other operating activities, net OtherOperatingActivitiesCashFlowStatement $-136.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $7.61M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $26.61M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $2.82M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-1.84M USD 1 Quarter
Deferred commissions IncreaseDecreaseDeferredCommissions $-15.08M USD 1 Quarter
Deferred commissions IncreaseDecreaseDeferredCommissions $-16.52M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $15.56M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-63.05M USD 1 Quarter
Lease liabilities IncreaseDecreaseInLeaseLiability $-7.79M USD 1 Quarter
Lease liabilities IncreaseDecreaseInLeaseLiability $-6.97M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $12.56M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $1.62M USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $14.68M USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $18.25M USD 1 Quarter
Other assets IncreaseDecreaseLeaseRightofUseandOtherAssets $2.27M USD 1 Quarter
Other assets IncreaseDecreaseLeaseRightofUseandOtherAssets $1.22M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $87.85M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $131.46M USD 1 Quarter
Proceeds from sale and settlement of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments - USD 1 Quarter
Proceeds from sale and settlement of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $10.26M USD 1 Quarter
Purchase of Richmond assets PaymentsToAcquireAssetsInvestingActivities $123.26M USD 1 Quarter
Purchase of Richmond assets PaymentsToAcquireAssetsInvestingActivities - USD 1 Quarter
Purchases of property and equipment and other assets PaymentsToAcquireProductiveAssets $10.62M USD 1 Quarter
Purchases of property and equipment and other assets PaymentsToAcquireProductiveAssets $7.13M USD 1 Quarter
Cash paid for acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $432.00K USD 1 Quarter
Cash paid for acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $442.00K USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $2.69M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-134.32M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $745.00M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Repurchase of restricted stock to satisfy tax withholding obligations PaymentsRelatedToTaxWithholdingForShareBasedCompensation $27.67M USD 1 Quarter
Repurchase of restricted stock to satisfy tax withholding obligations PaymentsRelatedToTaxWithholdingForShareBasedCompensation $30.14M USD 1 Quarter
Proceeds from exercise of stock options and employee stock purchase plan ProceedsFromExerciseOfStockOptionsAndEspp $10.29M USD 1 Quarter
Proceeds from exercise of stock options and employee stock purchase plan ProceedsFromExerciseOfStockOptionsAndEspp $9.12M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $725.15M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-18.54M USD 1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-606.00K USD 1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-2.12M USD 1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-65.62M USD 1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $857.19M USD 1 Quarter
Cash, cash equivalents and restricted cash at the beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.76B USD Point-in-time
Cash, cash equivalents and restricted cash at the beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.93B USD Point-in-time
Cash, cash equivalents and restricted cash at the beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.07B USD Point-in-time
Cash, cash equivalents and restricted cash at the beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.69B USD Point-in-time
Cash, cash equivalents and restricted cash at the end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.76B USD Point-in-time
Cash, cash equivalents and restricted cash at the end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.93B USD Point-in-time
Cash, cash equivalents and restricted cash at the end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.07B USD Point-in-time
Cash, cash equivalents and restricted cash at the end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.69B USD Point-in-time
Interest paid InterestPaidNet $499.00K USD 1 Quarter
Interest paid InterestPaidNet $16.04M USD 1 Quarter
Income taxes paid IncomeTaxesPaid $1.11M USD 1 Quarter
Income taxes paid IncomeTaxesPaid $1.04M USD 1 Quarter
Consideration owed for acquisitions OtherSignificantNoncashTransactionValueOfConsiderationGiven1 $385.00K USD 1 Quarter
Consideration owed for acquisitions OtherSignificantNoncashTransactionValueOfConsiderationGiven1 - USD 1 Quarter
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.41B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.45B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.46B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.45B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.38B USD Point-in-time
Net income NetIncomeLoss $74.21M USD 1 Quarter
Net income NetIncomeLoss $74.21M USD 1 Quarter
Net income NetIncomeLoss $72.79M USD 1 Quarter
Net income NetIncomeLoss $72.79M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-12.22M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $323.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-12.22M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.41B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.45B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.46B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.45B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.38B USD Point-in-time
Comprehensive Income 15 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $74.21M USD 1 Quarter
Net income NetIncomeLoss $74.21M USD 1 Quarter
Net income NetIncomeLoss $72.79M USD 1 Quarter
Net income NetIncomeLoss $72.79M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-12.95M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $323.00K USD 1 Quarter
Unrealized gain on investments OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $189.00K USD 1 Quarter
Unrealized gain on investments OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax - USD 1 Quarter
Reclassification adjustment for realized loss on investments included in net income OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $-541.00K USD 1 Quarter
Reclassification adjustment for realized loss on investments included in net income OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax - USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-12.22M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $323.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-12.22M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $60.57M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $74.53M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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