Zillow Group

Zillow Group (NASDAQ: Z, ZG) runs the most visited real estate app and website in the U.S. and earns by selling advertising, leads and software to the professionals who want to reach its audience: agents, property managers, mortgage lenders and builders. FY2025 (year ended Dec 31, 2025) revenue was $2.6B (+16%): Residential 66%, Rentals 24% (+39%), Mortgages 8% and Other 2%. It posted an operating loss of $34M and net income of $23M because sales, marketing, technology and administrative costs consume nearly all of its 74% gross margin. In H1 2026 revenue grew 18% to $1.5B and operating income was $26M, while average monthly unique users were down 2% in Q2.

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