v3.25.2
ACQUISITIONS (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Purchase Consideration
The total purchase consideration for the Matterport Acquisition was $1.9 billion, which consisted of the following (in millions):
Amount
Cash$902.1 
CoStar Group Shares (11.7 million shares)
881.2 
Fair value of rollover awards143.8 
Total$1,927.1 
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the amounts recorded for acquired assets and assumed liabilities recorded at their fair value as of the closing date of the Matterport Acquisition (in millions):
Preliminary: February 28, 2025Measurement Period Adjustments
Updated Preliminary: February 28, 2025
Cash and cash equivalents$55.1 $— $55.1 
Restricted cash97.0 — 97.0 
Accounts receivable13.3 0.4 13.7 
Available for sale investments203.7 — 203.7 
Deferred tax assets, net of valuation allowance24.6 0.5 25.1 
Goodwill1,136.4 1.0 1,137.4 
Intangible assets527.0 — 527.0 
Deferred revenue(32.1)— (32.1)
Litigation accrual(95.0)(1.7)(96.7)
Other assets and (liabilities), net(2.9)(0.2)(3.1)
Fair value of identifiable net assets acquired$1,927.1 $— $1,927.1 
The following table summarizes the amounts recorded for acquired assets and assumed liabilities recorded at their fair value as of the closing date of the acquisition (in millions):
Preliminary: November 1, 2024Measurement Period Adjustments
Updated Preliminary: November 1, 2024
Cash and cash equivalents$5.2 $— $5.2 
Accounts receivable4.2 — 4.2 
Deferred tax assets5.3 0.5 5.8 
Goodwill148.0 1.5 149.5 
Intangible assets135.9 — 135.9 
Deferred revenue(22.4)— (22.4)
Other assets and (liabilities), net(0.2)(2.0)(2.2)
Fair value of identifiable net assets acquired$276.0 $— $276.0 
Schedule of Business Combination, Intangible Asset, Acquired, Finite-Lived
The following table summarizes the fair values (in millions) of the identifiable intangible assets acquired in the Matterport Acquisition included in the Company's North America operating segment, their related estimated useful lives (in years), and their respective amortization methods:
Estimated Fair ValueEstimated Useful LifeAmortization Method
Developed technology$295.0 9Straight-line
Customer relationships140.0 5Accelerated
Trade names92.0 15Straight-line
Total intangible assets$527.0 
The following table summarizes the fair values (in millions) of the identifiable intangible assets acquired in the Visual Lease Acquisition included in the Company's North America operating segment, their related estimated useful lives (in years), and their respective amortization methods:
Estimated Fair ValueEstimated Useful LifeAmortization Method
Customer base$119.3 15Accelerated
Trade name1.3 5Straight-line
Software technology1.5 3 Straight-line
Database technology13.8 7.5 Straight-line
Total intangible assets$135.9 
Schedule of Unaudited Pro Forma Financial Information
The unaudited pro forma financial information presented below reflects the condensed consolidated results of operations of the Company assuming the Matterport Acquisition had taken place on January 1, 2024 and was as follows (in millions, except per share data):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Revenue$781.3 $718.9 $1,539.0 $1,414.2 
Net income (loss)
$16.8 $(125.4)$(48.3)$(203.3)
Net income (loss) per share - basic
$0.04 $(0.30)$(0.12)$(0.49)
Net income (loss) per share - diluted
$0.04 $(0.30)$(0.12)$(0.49)