Zillow reports Q4 revenue $554M, consensus $546.68M

On a GAAP basis, net loss was $52 million and net loss margin was 9% in Q4 2024, compared with net loss of $73 million and net loss margin of 15% in Q4 2023. GAAP net loss was $112 million for the full year 2024 and net loss margin was 5%, a 300 basis point improvement from 8% net loss margin in 2023. Q4 Adjusted EBITDA was $112 million, or 20% of revenue, driven primarily by higher-than-expected Residential revenue and strong Rentals revenue. Adjusted EBITDA for the full year 2024 was $498 million and Adjusted EBITDA margin was 22%, up 200 basis points from 20% Adjusted EBITDA margin in 2023. Cash and investments at the end of Q4 were $1.9 billion, down from $2.2 billion at the end of Q3, primarily due to the settlement of the company’s 2026 convertible debt in December. “2024 was a remarkable year for Zillow (Z): We achieved our stated goals for the year – including double-digit revenue growth – and we expect to keep up our momentum in 2025,” said Zillow Chief Executive Officer Jeremy Wacksman. “The results we reported today demonstrate how well we are executing and seizing our opportunity to transform and digitize residential real estate. With the leading brand in our category and a solid foundation for continued growth, we’re excited to serve more buyers, sellers, renters, and real estate professionals this year.”