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Zillow Group Inc. (Z-4.21%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenue of $2.2 billion, a 15% increase from $1.9 billion in 2023. This growth was driven by increases in Residential and Mortgages revenue, as well as Rentals revenue.
Residential revenue increased by 10% to $1.6 billion, primarily due to growth in Premier Agent revenue and new construction revenue. Mortgages revenue rose by 51% to $145 million, driven by increased mortgage originations.
Rentals revenue grew by 27% to $453 million, attributed to higher multifamily rentals revenue and increased average monthly rentals unique visitors.
The company reported a net loss of $112 million for 2024, compared to a net loss of $158 million in 2023. Adjusted EBITDA was $498 million, up from $391 million in the previous year.
Zillow Group's cash and cash equivalents, investments, and restricted cash totaled $1.9 billion as of December 31, 2024, down from $2.8 billion at the end of 2023.
The company has $419 million of convertible senior notes outstanding, with the 2025 Notes maturing on May 15, 2025.
Zillow Group's board has authorized the repurchase of up to $2.5 billion of its Class A and Class C stock, with $381 million remaining available for future repurchases as of the end of 2024.
The company continues to focus on expanding its Zillow Home Loans operations and investing in its software solutions for real estate professionals.
Zillow Group operates in a single reportable segment, reflecting its integrated approach to providing real estate services.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Zillow Group Inc. annual 10-K report dated February 11, 2025. To report an error, please email earnings@qz.com.