v3.25.2
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenues by operating segment and type of service consist of the following (in millions):
Three Months Ended June 30,
20252024
North AmericaInternationalTotalNorth AmericaInternationalTotal
CoStar$251.6 $19.3 $270.9 $237.1 $15.9 $253.0 
Information Services35.7 3.6 39.3 27.9 5.5 33.4 
Multifamily292.3 — 292.3 264.2 — 264.2 
LoopNet72.6 3.1 75.7 67.2 2.6 69.8 
Residential17.1 11.3 28.4 16.2 10.0 26.2 
Other Revenues
74.7 — 74.7 31.2 — 31.2 
Total revenues$744.0 $37.3 $781.3 $643.8 $34.0 $677.8 
Six Months Ended June 30,
20252024
North AmericaInternationalTotalNorth AmericaInternationalTotal
CoStar$499.2 $36.8 $536.0 $472.8 $30.5 $503.3 
Information Services71.7 7.4 79.1 55.3 11.1 66.4 
Multifamily574.8 — 574.8 519.0 — 519.0 
LoopNet142.6 5.9 148.5 133.6 5.3 138.9 
Residential33.6 22.0 55.6 24.6 20.2 44.8 
Other Revenues
119.5 — 119.5 61.8 — 61.8 
Total revenues$1,441.4 $72.1 $1,513.5 $1,267.1 $67.1 $1,334.2 
Schedule of Contract with Customer, Asset and Liability
Deferred revenue as of June 30, 2025 and December 31, 2024 was as follows (in millions):
BalanceBalance Sheet CaptionJune 30,
2025		December 31,
2024
Current portionDeferred revenue$187.4 $137.1 
Non-current portionLease and other long-term liabilities1.4 0.2 
Total deferred revenue$188.8 $137.3 
Changes in deferred revenue for the period were as follows (in millions):
Balance at December 31, 2024
$137.3 
Revenues recognized in the current period from the amounts in the beginning balance(101.0)
New deferrals, net of amounts recognized in the current period (1)
149.9 
Effects of foreign currency2.6 
Balance at June 30, 2025
$188.8 
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(1) This balance includes $32.1 million of new deferrals from an acquisition completed in 2025. See Note 5 for further discussion of acquisitions.
Contract assets as of June 30, 2025 and December 31, 2024 were as follows (in millions):
BalanceBalance Sheet CaptionJune 30,
2025		December 31,
2024
Current portionPrepaid expenses and other current assets$7.3 $5.8 
Non-current portionDeposits and other assets3.9 6.0 
Total contract assets$11.2 $11.8 
Schedule of Commissions Expense Commissions expense activity for the three and six months ended June 30, 2025 and 2024 was as follows (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Commissions incurred$63.0 $44.7 $109.2 $96.5 
Commissions capitalized in the current period(45.6)(28.9)(78.5)(67.6)
Amortization of deferred commissions costs35.9 29.1 66.9 56.3 
Total commissions expense$53.3 $44.9 $97.6 $85.2