CSGP · 10-K filed 26 Feb 2026 · year to 31 Dec 2025

CoStar Group

32 named things its latest annual report says its results depend on, each in the company's own words. 23 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Multiple Listing Services (MLS)

depends onnamed as a risk

We get listings data primarily from MLSs in the markets we serve.Risk factors (Item 1A)

Also named by COMP, RKT

Matterport hardware component suppliers

depends onnamed as a risk

Matterport relies on a limited number of suppliers to supply its hardware components for its cameras and other hardware products, including in some cases only a single supplier for some products and components.Risk factors (Item 1A)

Partners and platforms

Amazon Web Services (AWS)

depends on · a majority of our computingnamed as a risk

We currently run a majority of our computing on AWS and ACC and have built our software and computer systems to use computing, storage capabilities, bandwidth, and other services provided by AWS and ACC.Risk factors (Item 1A)

Also named by AAON, ABNB, ADSK, AIOT, BLK, CARR, CG, COF and 56 more

Alibaba Cloud (ACC)

depends on · a majority of our computingnamed as a risk

Given this, any significant disruption of or interference with AWS or ACC, whether temporary, regular, or prolonged, would negatively impact our operations and our business.Risk factors (Item 1A)

Also named by MDB

Google

depends onnamed as a risk

Google, Bing, DuckDuckGo and other internet search engines drive traffic to our websites, including CoStar.com, the LoopNet Network, the Apartments.com Network, our Homes.com and OnTheMarket residential marketplaces, the Land.com Network, and BizBuySell Network.Risk factors (Item 1A)

Also named by ABNB, AES, APP, BKNG, CTSH, DOCU, ETSY, EXPE and 14 more

Payment card networks

depends onnamed as a risk

The termination of our ability to process payments on any major credit or debit card would significantly impair our ability to operate our business.Risk factors (Item 1A)

Also named by ABNB, ASO, INTU, PYPL, TFC, UBER

Other companies

Matterport

named as a risk

We may be unable to realize the benefits of the acquisition of either Matterport or Domain, which could have an adverse effect on us.Risk factors (Item 1A)

Domain

named as a risk

The success of the Matterport Acquisition and Domain Acquisition will depend in part on our ability to realize the anticipated business opportunities and growth prospects from combining our business with that of Matterport and Domain.Risk factors (Item 1A)

Homes.com

named as a risk

We have incurred, and expect to continue to incur, significant costs to develop and market Homes.com.Risk factors (Item 1A)

STR hotel antitrust class action

named as a risk

For example, on February 20, 2024, several individuals who allegedly rented “luxury” hotel rooms in metropolitan areas in the United States filed a putative antitrust class action alleging that through CoStar's STR hospitality industry benchmarking products, the hotel defendants agreed to share competitively sensitive price and supply information regarding luxury hotel rooms, and that the sharing of that information has allowed the hotel defendants to increase prices for luxury hotel rooms.Risk factors (Item 1A)

Apartment rental market vacancy rates

exposed to its pricenamed as a risk

Further, with respect to the Apartments.com Network and LoopNet Network, our ability to attract and retain advertisers also depends on the current apartment rental market and apartment vacancy rates and commercial rental market and vacancy rates, respectively.Risk factors (Item 1A)

Places

United States

concentrated in · approximately 78% of the overall employee population

6,602 U.S.-based employees, representing approximately 78% of the overall employee populationBusiness (Item 1)

Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more

China

depends onnamed as a risk

Our access to suppliers in China may be limited or impaired as a result of tariffs, including those that have been recently introduced by the current U.S. administration, or other government restrictions in response to geopolitical factors.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

California

operates innamed as a risk

We also maintain communications, network, and computer hardware used to operate some of our mobile applications and websites at facilities in Virginia and California.Risk factors (Item 1A)

Also named by A, AAON, AFRM, ALK, ALLY, AN, ARE, AVAV and 88 more

Virginia

operates innamed as a risk

We also maintain communications, network, and computer hardware used to operate some of our mobile applications and websites at facilities in Virginia and California.Risk factors (Item 1A)

Also named by AUB, CNX, D, ELV, PNFP, PPL, TFC, TREX and 1 more

Richmond, Virginia

operates innamed as a risk

These plans have required and will continue to require significant capital expenditures over the next several years and our business plans may change.Risk factors (Item 1A)

Also named by KNSL

United Kingdom

earns from

Certain U.K. database protection laws provide additional protections for our U.K. databases.Business (Item 1)

Also named by AGX, AJG, AMP, BAC, BF/B, BGC, BRO, C and 59 more

Australia

earns from

Domain and OnTheMarket are our leading marketplaces in Australia and the U.K., respectively allowing real estate agents to advertise their listings.Business (Item 1)

Also named by AJG, ARWR, AXP, BF/B, BTU, CL, CVX, DECK and 15 more

Commodities and inputs

British Pound

exposed to its price · approximately 9% of total revenuenamed as a risk

Fluctuations in the British Pound, Canadian Dollar, Australian Dollar, and Euro may have an impact on our business, results of operations, and financial position.Market risk (Item 7A)

Also named by ABBV, ADBE, AJG, AME, AMP, APA, BF/B, BRO and 39 more

Australian Dollar

exposed to its price · approximately $29 millionnamed as a risk

For the years ended December 31, 2025 and December 31, 2024, our revenue would have decreased by approximately $29 million and $14 million, respectively, if the U.S. dollar exchange rate used strengthened by 10%.Market risk (Item 7A)

Also named by ADBE, BEN, BF/B, BTU, EEFT, EZPW, GPC, HRB and 13 more

Regulators

Federal Trade Commission (FTC)

subject to · termination fee of $52 millionnamed as a risk

For example, in 2021, the FTC withheld approval for our proposed acquisition of RentPath, the purchase agreement was subsequently terminated, and we incurred a termination fee of $52 million.Risk factors (Item 1A)

Also named by AMZN, AN, AVGO, BJ, CART, CELH, CHD, CHE and 56 more

Laws and programs

EU Digital Services Act (DSA)

subject to · fines of up to 6% of total annual worldwide turnovernamed as a risk

The DSA and the OSA may increase our compliance costs, require changes to our user interfaces, processes, operations, and business practices which may adversely affect our ability to attract, retain and provide our services to customers, and may otherwise adversely affect our business, operations and financial condition.Risk factors (Item 1A)

Also named by ABNB, ADBE, BKNG, DASH, EBAY, ETSY, GDDY, GOOG and 8 more

UK Online Safety Act (OSA)

subject to · fines of up to 10% of total annual worldwide turnover or £18 millionnamed as a risk

Similarly, in the United Kingdom, the OSA establishes an extensive regulatory framework for certain user-to-user and search services and imposes obligations to protect users from illegal content.Risk factors (Item 1A)

Also named by EBAY, META, RBLX, RDDT

2024 Credit Agreement

up to $1.1 billionnamed as a risk

On May 20, 2024, we entered into the 2024 Credit Agreement, which provides for variable rate borrowings of up to $1.1 billion.Market risk (Item 7A)

General Data Protection Regulation (GDPR)

subject tonamed as a risk

Failure to comply with the GDPR could result in penalties for noncompliance.Risk factors (Item 1A)

Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more

California Consumer Privacy Act (CCPA)

subject tonamed as a risk

The CCPA also provides for civil penalties for violations, as well as a private right of action for data breaches that may increase data breach litigation.Risk factors (Item 1A)

Also named by AAP, AIOT, AKAM, ALL, APP, AYI, BAC, BBSI and 69 more

Telephone Consumer Protection Act (TCPA)

subject tonamed as a risk

In particular, any claims that we have violated the TCPA could be costly to litigate and could expose us to substantial statutory damages or settlement costs.Risk factors (Item 1A)

Also named by ADP, AFL, BBW, CART, COMP, CRM, FCFS, GDDY and 9 more

EU Data Act

subject tonamed as a risk

The Data Act, together with developing guidance in this area, may require changes to our products, customer contracts, operations, and business practices, increase our compliance costs, require adjustments to our revenue recognition practices, and adversely affect our financial condition, business, and operations.Risk factors (Item 1A)

Also named by ADBE, DDOG, IOT, KVYO, MSFT, NET, NOW, PLTR and 6 more

U.S. tariffs on Chinese imports

subject tonamed as a risk

Also named by CGNX, EXPD, LZB, ROST, SSD, WTTR

EU NIS 2 Directive

subject tonamed as a risk

Further, the EU’s NIS 2 and its EU Member State transpositions and implementing regulations impose security obligations, including on online marketplace providers.Risk factors (Item 1A)

Also named by EQIX

Multifamily rental algorithmic pricing regulation

subject tonamed as a risk

Moreover, if state and/or federal legislation regulating the use of third-party algorithmic revenue management systems by multifamily apartment rental companies is passed with language that moves beyond the scope of the current cases and investigations, the impact to us is difficult to predict.Risk factors (Item 1A)

Technology

Google Analytics 4

depends onnamed as a risk

Beginning June 1, 2024, average monthly unique visitors are measured using Google Analytics 4 (GA4), the replacement for Universal Analytics.Risk factors (Item 1A)