AI Earnings Predictions for Zillow Group Inc. Class C Capital Stock (Z)

EX-99.1

2 q22026991.htm

EX-99.1

Document

Exhibit 99.1

Contacts:

Investors

Brad Berning

ir@zillowgroup.com

Media

Gina Cole

press@zillow.com

Zillow Group Reports Second-Quarter 2026 Financial Results

SEATTLE, August 5, 2026 — Zillow Group, Inc. (NASDAQ: Z and ZG), which is transforming the way people buy, sell, rent and finance homes, today announced its consolidated financial results for the three months ended June 30, 2026.

Complete financial results for the second quarter and outlook for the third quarter and the full year of 2026 can be found in the shareholder letter on the Investor Relations section of Zillow Group’s website at https://investors.zillowgroup.com/investors/financials/quarterly-results/default.aspx.

“Zillow delivered another quarter of strong results and consistent execution. We outperformed the broader housing market and our outlook, and we are on track toward our full-year goals,” said Zillow Chief Executive Officer Jeremy Wacksman. “Zillow is the operating system for modern real estate, and we are building toward a future where getting home through the integrated experience on Zillow is the standard for renters, buyers, sellers and the industry professionals who guide them through it.”

Recent highlights include:

•Q2 revenue was up 18% year over year to $772 million, above the high end of the company’s outlook range. The residential real estate industry grew by 6% in Q2.1 The company estimates Q2 purchase mortgage origination volume for the industry was approximately flat year over year, which more closely represents the company’s customer base.

◦For Sale revenue was up 14% year over year in Q2 to $549 million.

▪Residential revenue was up 7% year over year in Q2 to $465 million, benefiting from growth in Preferred, Zillow Showcase, New Construction and the company’s suite of agent software tools.

▪Mortgages revenue increased 75% year over year to $84 million in Q2, primarily due to a 95% increase in purchase loan origination volume to $2.2 billion.

◦Rentals revenue increased 31% year over year in Q2 to $209 million, primarily driven by multifamily revenue growing 42% year over year.

•Net loss was $4 million in Q2, and net loss margin was 1%, an 80-basis-point decrease year over year. Diluted net loss per share was $0.02 compared to diluted net income per share of $0.01 in Q2 a year ago.

•Adjusted net income was $118 million and Diluted adjusted net income per share was $0.52 compared with $0.40 in Q2 a year ago.2

•Q2 Adjusted EBITDA was $176 million, above the high end of our outlook range, and Adjusted EBITDA margin was 23%.2

•Cash and investments at the end of Q2 were $682 million. In Q2, the company repurchased 5.6 million shares for $200 million.

•Traffic to Zillow Group’s mobile apps and sites in Q2 was down 2% year over year to 239 million average monthly unique users.3 Visits during Q2 were down 2% year over year to 2.5 billion. According to Comscore, which tracks growth trends across the residential real estate category, Zillow’s average monthly unique visitors in Q2 outperformed the category, which saw a decline overall, similar to other leading indicators that are pointing to a slower second half. Zillow is the only large company in the category, according to Comscore, to consistently expand its reach with the real estate audience over the past seven quarters.

1 National Association of Realtors® existing homes sold during Q2 2026 multiplied by the average selling price per home for Q2 2026 compared with the same period in 2025

2 Adjusted net income, Diluted adjusted net income per share, Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures; they are not calculated or presented in accordance with U.S. generally accepted accounting principles (“GAAP”). Please see the “Use of Non-GAAP Financial Measures” section below for more information about our presentation of these non-GAAP financial measures, including a reconciliation to the most directly comparable GAAP financial measures for the relevant period.

3 For information on the company’s calculation of average monthly unique users and visits, please see Zillow Group’s publicly available filings with the U.S. Securities and Exchange Commission.

Second-Quarter 2026 Financial Highlights

The following table sets forth Zillow Group’s financial highlights for the periods presented (in millions, except percentages, unaudited):

Three Months Ended June 30, 2025 to 2026

% Change Six Months Ended June 30,2025 to 2026 % Change

2026202520262025

Revenue:

For Sale revenue:

Residential$465$4347%$915$8518%

Mortgages844875%1488966%

Total For Sale revenue54948214%1,06394013%

Rentals20915931%39228836%

Other1414—%2525—%

Total revenue$772$65518%$1,480$1,25318%

Other Financial Data:

Gross profit$562$489$1,081 $948

Net income (loss)$(4)$2$42$10

Diluted net income (loss) per share$(0.02)$0.01$0.18$0.04

Net cash provided by operating activities$11$87$211$191

Non-GAAP Financial Measures:(1

EX-99.1

2 q12026991.htm

EX-99.1

Document

Exhibit 99.1

Contacts:

Investors

Brad Berning

ir@zillowgroup.com

Media

Gina Cole

press@zillow.com

Zillow Group Reports First-Quarter 2026 Financial Results

SEATTLE, May 6, 2026 — Zillow Group, Inc. (NASDAQ: Z and ZG), which is transforming the way people buy, sell, rent and finance homes, today announced its consolidated financial results for the three months ended March 31, 2026.

Complete financial results for the first quarter and outlook for the second quarter and the full year of 2026 can be found in the shareholder letter on the Investor Relations section of Zillow Group’s website at https://investors.zillowgroup.com/investors/financials/quarterly-results/default.aspx.

“Zillow’s integrated platform is delivering meaningful value for buyers, sellers, renters and real estate professionals alike,” said Zillow Chief Executive Officer Jeremy Wacksman. “We’re embedding AI throughout the real estate experience in ways that make Zillow increasingly indispensable, and we’re innovating with speed and intention. Zillow’s strong Q1 results reflect the consistency of our execution, the strength of our brand, our audience engagement, and the durability of our multi-year strategy.”

Recent highlights include:

•Zillow Group reported strong first-quarter results.

•Q1 revenue was up 18% year over year to $708 million, near the high end of the company’s outlook range. The residential real estate industry grew by 2% in Q1, according to NAR.1 The company estimates Q1 purchase mortgage origination volume for the industry declined approximately 1% year over year.

◦For Sale revenue was up 12% year over year to $514 million in Q1.

▪Residential revenue was up 8% year over year in Q1 to $450 million, benefiting from growth across Preferred, Zillow Showcase, the company’s suite of agent software tools and the company’s New Construction marketplace.

▪Mortgages revenue increased 56% year over year to $64 million in Q1, primarily due to a 96% increase in purchase loan origination volume to $1.5 billion.

◦Rentals revenue increased 42% year over year to $183 million in Q1, primarily driven by multifamily revenue growing 57% year over year.

•Net income was $46 million in Q1, and net income margin was 6%, a 520-basis-point increase year over year. Diluted net income per share was $0.19 compared to $0.03 in Q1 a year ago.

•Q1 Adjusted EBITDA was $182 million, and Adjusted EBITDA margin was 26%, flat year over year despite a 160-basis-point headwind from incremental legal expenses.2 Excluding $11 million of incremental year over year legal expenses, Adjusted EBITDA would have been $193 million in Q1, representing a 27% margin.

•Cash and investments3 at the end of Q1 were $788 million, down from $1.3 billion at the end of 2025. During Q1, the company repurchased 13.5 million shares for $626 million.

1 National Association of Realtors® existing homes sold during Q1 2026 multiplied by the average selling price per home for Q1 2026 compared with the same period in 2025

2 Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures; they are not calculated or presented in accordance with U.S. generally accepted accounting principles (“GAAP”). Please see the “Use of Non-GAAP Financial Measures” section below for more information about our presentation of these non-GAAP financial measures, including a reconciliation to the most directly comparable GAAP financial measures for the relevant period.

3 Cash and investments includes Cash and cash equivalents, Restricted cash and Short-term investments.

•Traffic to Zillow Group’s mobile apps and sites in Q1 was down 3% year over year to 220 million average monthly unique users.4 Visits during Q1 were down 3% year over year to 2.3 billion. According to Comscore, which tracks growth trends across the category, average monthly unique visitors to Zillow Group’s mobile apps and sites in Q1 were up 12% year over year to 127 million, and Zillow is the only large company in its category to increase the amount of the real estate audience it reached over the past six quarters.

4 The company counts a unique user the first time an individual accesses one of the company’s mobile apps using a mobile device during a calendar month and the first time an individual accesses one of the company’s websites using a web browser during a calendar month. If an individual accesses the company’s mobile apps using different mobile devices within a given month, the first instance of access by each such mobile device is counted as a separate unique user. If an individual accesses the company’s websites using different web browsers within a given month, the first access by each such web browser is counted as a separate unique user.

First-Quarter 2026 Financial Highlights

The following table sets forth Zillow Group’s financial highlights for the periods presented (in millions, except percentages, unaudited):

Three Months Ended

March 31,

2025 to 20

EX-99.1

2 q42025991.htm

EX-99.1

Document

Exhibit 99.1

Contacts:

Investors

Brad Berning

ir@zillowgroup.com

Media

Gina Cole

press@zillow.com

Zillow Group Reports Fourth-Quarter and Full-Year 2025 Financial Results

SEATTLE, Feb. 10, 2026 — Zillow Group, Inc. (NASDAQ: Z and ZG), which is transforming the way people buy, sell, rent and finance homes, today announced its consolidated financial results for the three months and year ended December 31, 2025.

Complete financial results, and outlook for the first quarter of 2026, can be found in the shareholder letter on the Investor Relations section of Zillow Group’s website at https://investors.zillowgroup.com/investors/financials/quarterly-results/default.aspx.

“We delivered strong results in the fourth quarter and throughout 2025, achieving all our reported full-year financial targets, including positive net income, while continuing to gain share in both For Sale and Rentals,” said Zillow Chief Executive Officer Jeremy Wacksman. “As we celebrate 20 years of Zillow, our results demonstrate our disciplined and consistent execution of our strategy. With our deeply engaged audience, industry-leading software that powers industry workflows, and two decades of AI innovation, we are uniquely positioned to drive durable growth by making the entire moving journey easier for consumers and the real estate professionals who serve them.”

Recent highlights include:

•Zillow Group reported strong fourth-quarter results.

•Q4 revenue was up 18% year over year to $654 million, near the high end of the company’s outlook range. Full-year 2025 revenue of $2.6 billion was up 16% year over year. The residential real estate industry grew by 3% in Q4 and 3% for full-year 2025, according to the NAR, meaning the company outperformed the industry by 1,500 basis points in Q4 and 1,300 basis points for full-year 2025.1 The company estimates Q4 and full-year 2025 purchase mortgage origination volume for the industry was roughly flat year over year.

◦For Sale revenue was up 11% year over year to $475 million in Q4.

▪Residential revenue was up 8% year over year in Q4 to $418 million, benefiting from growth in the company’s agent and software offerings and in the company’s New Construction marketplace.

▪Mortgages revenue increased 39% year over year to $57 million in Q4, primarily due to a 67% increase in purchase loan origination volume to $1.5 billion.

◦Rentals revenue increased 45% year over year to $168 million in Q4, primarily driven by multifamily revenue growing 63% year over year.

•On a GAAP basis, net income was $3 million in Q4, and net income margin was 0%, a 990-basis-point increase year over year. GAAP net income was $23 million for full-year 2025, and net income margin was 1%, a 590-basis-point increase year over year.

•Q4 Adjusted EBITDA was $149 million, and Adjusted EBITDA margin was 23%, a 260-basis-point increase year over year, driven by revenue growth and cost management. Adjusted EBITDA was $622 million for full-year 2025, and Adjusted EBITDA margin was 24%, a 180-basis-point increase year over year.2

•Cash and investments at the end of Q4 were $1.3 billion, down from $1.4 billion at the end of Q3. During Q4, the company repurchased 3.4 million shares for $232 million.

•Traffic to Zillow Group’s apps and sites in Q4 was up 8% year over year to 221 million average monthly unique users. Visits during Q4 were up 2% year over year at 2.1 billion.

1 National Association of Realtors® existing homes sold during Q4 2025 and full-year 2025 multiplied by the average selling price per home for Q4 2025 and full-year 2025, compared with the same period in 2024

2 Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures; they are not calculated or presented in accordance with U.S. generally accepted accounting principles (“GAAP”). Please see the “Use of Non-GAAP Financial Measures” section below for more information about our presentation of these non-GAAP financial measures, including a reconciliation to the most directly comparable GAAP financial measures for the relevant period.

Fourth-Quarter and Full-Year 2025 Financial Highlights

The following table sets forth Zillow Group’s financial highlights for the periods presented (in millions, except percentages, unaudited):

Three Months Ended

December 31,

2024 to 2025

% Change

Year Ended

December 31, 2024 to 2025 % Change

2025202420252024

Revenue:

For Sale revenue:

Residential$418$3878%$1,704$1,5947%

Mortgages574139%19914537%

Total For Sale revenue47542811%1,9031,7399%

Rentals16811645%63045339%

Other111010%504414%

Total revenue$654$55418%$2,583$2,23616%

Other Financial Data:

Gross profit$476$420$1,915$1,709

Net income (loss)$3$(52)$23$(112)

Diluted net income (loss) per share$0.01$(0.22)$0.09$(0.48)

Net cash provided by operating activities$72$122$368$428

Non-GAAP Financial Measures:(1)

Adjusted EBITDA$149$112$622$498

Adjusted net income$98$68$417$349

Diluted adjusted net