CoStar Group (CSGP) Net New Bookings

Measures the value of newly signed contracts and renewals after churn, signaling how quickly CoStar is adding recurring business and expanding its subscription base; strong net new bookings point to sustainable ARR growth and better revenue visibility, while weakness can warn of slowing sales or higher churn.

Net New Bookings follow a lumpy but consistent run‑rate with a noticeable mid‑2025 pickup that culminates in a single, very large quarter in late 2025 which materially skews growth. Excluding that one‑off, bookings revert to the prior band, signaling limited durable acceleration and continued lumpiness in revenue visibility; treat the late‑2025 spike as non‑recurring and focus on the post‑spike run‑rate and backlog conversion to assess sustainable growth.