Zillow Group Inc
zillowgroup.comWhat Do They Do?
Connects home buyers, sellers and renters with residential listings and digital transaction tools, and provides agents, landlords and property managers with marketing and business software.
10-K for FY2025, filed Feb 11, 2026We are reimagining residential real estate to make home a reality for more and more people. As the most visited real estate app and website…View ↗
To deliver on our mission, we strive to provide a seamless, integrated transaction experience for movers through Zillow, our network of…View ↗
For Buyers and Sellers. When a buyer is ready to begin their home buying journey, we offer a variety of options depending on where they…View ↗
How Do They Make Money?
Agents and brokers pay for advertising connections and software, and Zillow earns referral fees when a referred home sale closes; it also earns from originating and selling mortgages and from lender leads. Rental property managers pay by lead, lease, listing or impression, or a fixed advertising fee; renters pay a flat application fee.
10-K for FY2025, filed Feb 11, 2026Premier Agent advertising products, which include the delivery of validated customer connections, or leads, are offered on a share of voice…View ↗
With the Zillow Preferred model, Premier Agent partners are provided with leads and pay a performance advertising fee when a real estate…View ↗
Follow Up Boss revenue primarily consists of our SaaS customer relationship management system which provides real estate agents, teams and…View ↗
Rentals. Rentals revenue includes advertising and a suite of tools sold to property managers on a cost per lead, lease, listing or…View ↗
Mortgages. Mortgages revenue primarily includes revenue generated through mortgage originations and the related sale of mortgages on the…View ↗
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10-K for FY2025, filed Feb 11, 2026
FY2025 revenue by product or service ↗
$2.6B
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10-K for FY2025, filed Feb 11, 2026
$2.6B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Total For Sale revenue
|
74%
FY2022: 84%
|
Total For Sale revenue, FY2025
$1.9B Sources
|
|
|
Rentals
Usage-based
10-K for FY2025, filed Feb 11, 2026 |
24%
FY2022: 14%
|
Rentals, FY2025
$630M Sources
|
Usage-based |
|
Other
|
1.9%
FY2022: 2.2%
|
Other, FY2025
$50M Sources
|
Who Are Their Customers?
Consumers search Zillow and can connect with agent, builder and mortgage partners; agents and other real estate professionals use its advertising and software, while landlords and property managers use rental listings, marketing and leasing tools.
10-K for FY2025, filed Feb 11, 2026For Buyers and Sellers. When a buyer is ready to begin their home buying journey, we offer a variety of options depending on where they…View ↗
Residential. Residential revenue includes revenue generated from our agent and software offerings and revenue derived from our New…View ↗
Rentals. Rentals revenue includes advertising and a suite of tools sold to property managers on a cost per lead, lease, listing or…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2025 and turned 9 cents into free cash flow.
10-K for FY2025, filed Feb 11, 2026
−$34MView ↗
10-K for FY2025, filed Feb 11, 2026
$23MView ↗
10-K for FY2025, filed Feb 11, 2026
$235MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
−$4MView ↗
- ▼ Now a loss
- vs $2M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Aug 24, 2026
Zillow and Redfin settle litigation and amend their rental listings agreement
Their partnership and multifamily listing syndication continue through at least June 30, 2030; the amendment permits standalone multifamily advertising products.
Sources
8-K, filed Aug 24, 2026
Under the terms of the Order, the partnership between Zillow and Redfin will continue and the syndication of multifamily rental listings…View ↗
Growing. Revenue grew 21% in 4 years, from $2.1B in FY2021 to $2.6B in FY2025, about 5% a year.
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