ZILLOW GROUP, INC.
Income Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $772.0M | $708.0M | $654.0M | $676.0M | $655.0M | $598.0M | $554.0M | $581.0M |
| Cost of Revenue | $210.0M | $189.0M | $178.0M | $185.0M | $166.0M | $139.0M | $134.0M | $140.0M |
| Gross Profit | $562.0M | $519.0M | $476.0M | $491.0M | $489.0M | $459.0M | $420.0M | $441.0M |
| Gross Margin | 72.8% | 73.3% | 72.8% | 72.6% | 74.7% | 76.8% | 75.8% | 75.9% |
| Operating Expenses | ||||||||
| Research & Development | $156.0M | $150.0M | $154.0M | $151.0M | $153.0M | $149.0M | $149.0M | $145.0M |
| SG&A Expense | $131.0M | $123.0M | $128.0M | $127.0M | $121.0M | $121.0M | $138.0M | $123.0M |
| Operating Income | $-10.0M | $36.0M | $-11.0M | $-3.0M | $-11.0M | $-9.0M | $-69.0M | $-45.0M |
| Operating Margin | -1.3% | 5.1% | -1.7% | -0.4% | -1.7% | -1.5% | -12.5% | -7.7% |
| Interest Expense | $6.0M | $4.0M | $5.0M | $3.0M | $5.0M | $5.0M | $8.0M | $9.0M |
| Pretax Income | $-3.0M | $48.0M | $3.0M | $12.0M | $2.0M | $8.0M | $-51.0M | $-20.0M |
| Income Tax Expense | $1.0M | $2.0M | $0 | $2.0M | $0 | $0 | $1.0M | $0 |
| Net Income | $-4.0M | $46.0M | $3.0M | $10.0M | $2.0M | $8.0M | $-52.0M | $-20.0M |
| Net Margin | -0.5% | 6.5% | 0.5% | 1.5% | 0.3% | 1.3% | -9.4% | -3.4% |
| EPS (Basic) | $-0.02 | $0.19 | $0.01 | $0.04 | $0.01 | $0.03 | $-0.23 | $-0.08 |
| EPS (Diluted) | $-0.02 | $0.19 | $0.01 | $0.04 | $0.01 | $0.03 | $-0.23 | $-0.08 |
| Shares Outstanding (Basic) | 227.9M | 235.7M | 241.9M | 242.3M | 241.1M | 242.3M | 234.1M | 232.5M |
| Shares Outstanding (Diluted) | 227.9M | 239.6M | 254.1M | 256.2M | 251.7M | 256.2M | 234.1M | 232.5M |
| Dividends Per Share | — | — | — | — | — | — | — | — |