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Other financials

Income statement

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Revenue$772.0M+17.9%
Gross profit$562.0M+14.9%
Operating income-$10.0M+9.1%
Net income-$4.0M-300%
EPS (diluted)-$0.02-300%

Balance sheet

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Cash & equivalents$578.0M-2.4%
Total debt$93.0M-71.6%
Total equity$4.3B-9.2%
Total assets$5.3B-2.0%

Cash flow

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Operating cash flow$11.0M-87.4%
CapEx$36.0M-2.7%
Free cash flow$166.0M+144%

Valuation

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Market cap$7.59B-60.7%
Enterprise value$7.11B-62.7%
P/E138×
P/S2.7×-5.4×

Profitability

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Gross margin72.9%-2.9pp
Operating margin0.4%+0.2pp
Net margin2%+1.2pp
FCF margin12.4%-1.2pp

Returns & leverage

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Return on equity1.2%+0.8pp
Debt / equity0.0×
Current ratio1.9×-1.4×

Where this comes from

Reported directly by Zillow Group, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Zillow Group, Inc.’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:36 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001617640-26-000052
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Gross profit5624891,081948
Operating expenses:
Sales and marketing249226459424
Technology and development156153306302
General and administrative131121254242
Restructuring costs3636
Total operating expenses5725001,055968
Income (loss) from operations(10)(11)26(20)

Item 1. Financial Statements (unaudited)

FAQ

What is Zillow Group, Inc.'s R&D?
Zillow Group, Inc. (Z) reported R&D of $156M in Q2 2026.
How has Zillow Group, Inc.'s R&D changed year-over-year?
Zillow Group, Inc.'s R&D increased by 2.0% year-over-year, from $153M to $156M.
What is the long-term trend for Zillow Group, Inc.'s R&D?
Over 4 years (2021 to 2025), Zillow Group, Inc.'s R&D has grown at a 7.6% compound annual growth rate (CAGR), from $452M to $607M.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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