2018 Q4 Form 10-Q Financial Statement

#000105735218000115 Filed on October 24, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $315.6M $305.5M $247.5M
YoY Change 24.24% 23.43% 16.37%
Cost Of Revenue $68.25M $72.07M $55.48M
YoY Change 17.06% 29.9% 31.41%
Gross Profit $247.3M $233.5M $192.1M
YoY Change 26.39% 21.56% 12.65%
Gross Profit Margin 78.37% 76.41% 77.59%
Selling, General & Admin $108.2M $128.3M $108.7M
YoY Change -9.15% 17.99% 2.56%
% of Gross Profit 43.75% 54.94% 56.6%
Research & Development $25.60M $26.17M $21.54M
YoY Change 17.43% 21.53% 11.26%
% of Gross Profit 10.35% 11.21% 11.21%
Depreciation & Amortization $19.70M $20.40M $15.10M
YoY Change 28.76% 35.1% 122.25%
% of Gross Profit 7.97% 8.74% 7.86%
Operating Expenses $141.7M $162.8M $134.5M
YoY Change -2.25% 20.98% 2.78%
Operating Profit $105.7M $70.69M $57.51M
YoY Change 108.16% 22.91% 45.25%
Interest Expense $695.0K $717.0K $2.901M
YoY Change -5.31% -75.28% 16.13%
% of Operating Profit 0.66% 1.01% 5.04%
Other Income/Expense, Net -$700.0K $300.0K -$2.200M
YoY Change 0.0% -113.64% 29.41%
Pretax Income $109.6M $73.01M $55.17M
YoY Change 125.03% 32.34% 47.34%
Income Tax $26.06M $14.25M $20.99M
% Of Pretax Income 23.78% 19.51% 38.05%
Net Earnings $83.51M $58.76M $34.18M
YoY Change 88.92% 71.93% 47.31%
Net Earnings / Revenue 26.46% 19.23% 13.81%
Basic Earnings Per Share $2.31 $1.63 $1.05
Diluted Earnings Per Share $2.29 $1.61 $1.04
COMMON SHARES
Basic Shares Outstanding 36.42M shares 36.13M shares 32.44M shares
Diluted Shares Outstanding 36.52M shares 32.81M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.100B $1.072B $623.0M
YoY Change -9.17% 72.04% 19.05%
Cash & Equivalents $1.100B $1.072B $623.0M
Short-Term Investments
Other Short-Term Assets $23.70M $25.20M $16.20M
YoY Change 51.92% 55.56% 38.46%
Inventory
Prepaid Expenses
Receivables $89.19M $82.28M $60.87M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.213B $1.179B $700.1M
YoY Change -5.8% 68.45% 19.99%
LONG-TERM ASSETS
Property, Plant & Equipment $83.30M $81.94M $84.33M
YoY Change -1.41% -2.83% -1.22%
Goodwill $1.612B $1.549B $1.283B
YoY Change 25.56% 20.71% 2.14%
Intangibles $288.9M $286.0M $191.2M
YoY Change 57.97% 49.58% -7.69%
Long-Term Investments $10.10M $10.10M $10.00M
YoY Change 0.0% 1.0% 1.01%
Other Assets $90.90M $86.10M $11.90M
YoY Change 683.62% 623.53% 14.42%
Total Long-Term Assets $2.100B $2.028B $1.581B
YoY Change 32.43% 28.31% 0.72%
TOTAL ASSETS
Total Short-Term Assets $1.213B $1.179B $700.1M
Total Long-Term Assets $2.100B $2.028B $1.581B
Total Assets $3.313B $3.207B $2.281B
YoY Change 15.3% 40.63% 5.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.327M $10.11M $11.32M
YoY Change -31.69% -10.68% 14.83%
Accrued Expenses $29.82M $33.50M $33.07M
YoY Change 34.37% 1.29% -0.54%
Deferred Revenue $51.46M $50.20M
YoY Change 12.64%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $36.91M
YoY Change 69.12%
Total Short-Term Liabilities $154.2M $153.5M $176.6M
YoY Change 5.11% -13.09% 15.07%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $268.6M
YoY Change -100.0% -14.92%
Other Long-Term Liabilities $67.00M $60.60M $50.90M
YoY Change 5.51% 19.06% -8.45%
Total Long-Term Liabilities $67.00M $60.60M $268.6M
YoY Change -77.44% -14.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $154.2M $153.5M $176.6M
Total Long-Term Liabilities $67.00M $60.60M $268.6M
Total Liabilities $291.0M $278.9M $518.2M
YoY Change 30.98% -46.17% -2.94%
SHAREHOLDERS EQUITY
Retained Earnings $613.5M $529.9M
YoY Change 91.31%
Common Stock $364.0K
YoY Change 0.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.022B $2.928B $1.762B
YoY Change
Total Liabilities & Shareholders Equity $3.313B $3.207B $2.281B
YoY Change 15.3% 40.63% 5.95%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $83.51M $58.76M $34.18M
YoY Change 88.92% 71.93% 47.31%
Depreciation, Depletion And Amortization $19.70M $20.40M $15.10M
YoY Change 28.76% 35.1% 122.25%
Cash From Operating Activities $114.8M $101.4M $67.90M
YoY Change 60.78% 49.34% 19.12%
INVESTING ACTIVITIES
Capital Expenditures -$7.800M -$5.900M -$7.100M
YoY Change 65.96% -16.9% 65.12%
Acquisitions
YoY Change
Other Investing Activities -$78.30M $0.00 -$2.700M
YoY Change -100.0% -775.0%
Cash From Investing Activities -$86.10M -$6.000M -$9.800M
YoY Change 1693.75% -38.78% 151.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 600.0K 10.30M -100.0K
YoY Change -99.88% -10400.0% -102.0%
NET CHANGE
Cash From Operating Activities 114.8M 101.4M 67.90M
Cash From Investing Activities -86.10M -6.000M -9.800M
Cash From Financing Activities 600.0K 10.30M -100.0K
Net Change In Cash 29.30M 105.7M 58.00M
YoY Change -95.02% 82.24% -0.17%
FREE CASH FLOW
Cash From Operating Activities $114.8M $101.4M $67.90M
Capital Expenditures -$7.800M -$5.900M -$7.100M
Free Cash Flow $122.6M $107.3M $75.00M
YoY Change 61.1% 43.07% 22.35%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Cost of Revenues</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cost of revenues principally consists of salaries, benefits, bonuses and stock-based compensation expenses for the Company's researchers who collect and analyze the commercial real estate data that is the basis for the Company's information, analytics and online marketplaces. Additionally, cost of revenues includes the cost of data from third-party data sources, credit card and other transactions fees relating to processing customer transactions, which are expensed as incurred, and the amortization of acquired trade names and other intangible assets and database technology.</font></div></div>
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ORGANIZATION</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CoStar Group, Inc. (the &#8220;Company&#8221; or &#8220;CoStar&#8221;) provides information, analytics and online marketplace services to the commercial real estate and related business community through its comprehensive, proprietary database of commercial real estate information covering the United States (&#8220;U.S.&#8221;), the United Kingdom (&#8220;U.K.&#8221;), and parts of Canada, Spain, Germany and France. The Company provides online marketplaces for commercial real estate, apartment rentals, lands for sale and businesses for sale. The Company operates within </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> operating segments, North America and International, and its services are typically distributed to its clients under subscription-based license agreements that renew automatically, a majority of which have a term of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">one year</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition, allowance for doubtful accounts, useful lives of property and equipment, intangible assets and deferred commissions, recoverability of long-lived assets and intangible assets with definite lives, goodwill, income taxes, fair value of equity instruments, fair value of auction rate securities (&#8220;ARS&#8221;), accounting for business combinations and loss contingencies, among others. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenues and expenses. Actual results could differ from these estimates.</font></div></div>

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0001057352-18-000115-index-headers.html Edgar Link pending
0001057352-18-000115-index.html Edgar Link pending
0001057352-18-000115.txt Edgar Link pending
0001057352-18-000115-xbrl.zip Edgar Link pending
csgp-20180930.xml Edgar Link completed
csgp-20180930.xsd Edgar Link pending
csgp-20180930_cal.xml Edgar Link unprocessable
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