Name: CoStar Group Inc. (NASDAQ:CSGP) | Analysis of Revenues
Creator: Stock Analysis on Net

Analysis of Revenues

Revenues as Reported

Revenues as Reported

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CoStar Group Inc., income statement, revenues

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
CoStar	836,980)	722,821)	664,735)	617,798)	545,195)
Information services	157,382)	141,655)	130,070)	88,446)	67,624)
Multifamily	745,388)	678,680)	598,555)	490,631)	405,795)
LoopNet	230,941)	207,511)	179,805)	149,980)	—)
Residential	73,747)	74,583)	—)	—)	—)
Other Marketplaces	137,961)	118,885)	85,854)	52,864)	—)
Commercial Property and Land (legacy)	—)	—)	—)	—)	173,218)
Revenues	2,182,399)	1,944,135)	1,659,019)	1,399,719)	1,191,832)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Total revenues exhibited steady and uninterrupted growth from 2018 through 2022, increasing from US$ 1,191,832 thousand to US$ 2,182,399 thousand. This represents a cumulative increase of approximately 83% over the five-year period, reflecting a consistent expansion of the company's top-line earnings.

Primary Revenue Drivers: The CoStar and Multifamily segments constitute the largest portions of the revenue mix. CoStar revenues grew from US$ 545,195 thousand in 2018 to US$ 836,980 thousand in 2022. The Multifamily segment demonstrated significant scaling, rising from US$ 405,795 thousand in 2018 to US$ 745,388 thousand in 2022, indicating a strong growth trajectory in this specific vertical.
Marketplace and Service Expansion: Diversification is evident in the growth of LoopNet and Other Marketplaces. LoopNet revenue increased from US$ 149,980 thousand in 2019 to US$ 230,941 thousand in 2022. Other Marketplaces showed a similar upward trend, rising from US$ 52,864 thousand in 2019 to US$ 137,961 thousand in 2022. Information services also saw substantial growth, more than doubling from US$ 67,624 thousand in 2018 to US$ 157,382 thousand in 2022.
New and Legacy Stream Transitions: A strategic shift in revenue composition is observable. The Commercial Property and Land (legacy) segment contributed US$ 173,218 thousand in 2018 but was completely phased out in subsequent years. Simultaneously, the Residential segment was introduced in 2021 with US$ 74,583 thousand in revenue, which remained relatively stable at US$ 73,747 thousand in 2022.

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