Real estate data giant CoStar Group exceeded $1 billion in revenue in 2018. And by the end of 2023, it hopes to roughly triple that figure to $3 billion.
Though tumult in the stock market contributed to a dip in CoStar’s market value, the company finished 2018 with a strong balance sheet, it disclosed in an earnings report on Tuesday. On the company’s subsequent earnings call, chief executive Andrew Florance said the firm posted $1.2 billion in revenue, a jump from $965 million for 2017. CoStar ended the year with $238 million in net income, up 94 percent over 2017’s $123 million. Its adjusted EBITDA checked in at $418 million, a 49 percent increase year-over-year.