Zillow beats Q2 revenue guidance, promotes Jeremy Wacksman to CEO

ZILLOW GROUP, INC.

Q2 revenue $572M (+13% YoY), $39M above outlook midpoint; Residential revenue $409M (+8% YoY), outperforming industry 3% growth.
GAAP net loss $17M ($0.07 loss per share) vs $35M loss a year ago; Adjusted EBITDA $134M (23% margin), $41M above outlook midpoint.
Rentals revenue $117M (+29% YoY) driven by multifamily (+44%); Mortgages revenue $34M (+42%) with purchase loan origination volume $756M (+125%).
Jeremy Wacksman promoted to CEO from COO; Rich Barton becomes Co-Executive Chairman alongside Lloyd Frink. Effective after Q2 10-Q filing.
Wacksman base salary $825,000; awarded 61,993 RSUs and 185,976 stock options vesting quarterly over 4 years.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Richard N. Barton

Co-Executive Chairman

ZG · ZILLOW GROUP, INC.

Effective: 2024-08-07
Successor: Jeremy Wacksman
Filed: August 7, 2024, 7:59 PM ET

Mr. Barton will remain on the Board and become Co-Executive Chairman of the Board, alongside co-founder, President of Zillow Group, and current Executive Chairman of the Board, Lloyd D. Frink.

Appointed

Jeremy Wacksman

Director

ZG · ZILLOW GROUP, INC.

Effective: 2024-08-07
Filed: August 7, 2024, 7:59 PM ET

the Board increased the size of the Board from ten to eleven members and appointed Mr. Wacksman to fill the vacancy created.

Role change

Jeremy Wacksman

Chief Executive Officer

ZG · ZILLOW GROUP, INC.

Effective: 2024-08-07
Filed: August 7, 2024, 7:59 PM ET

On August 7, 2024, Zillow Group announced the promotion of Jeremy Wacksman from Chief Operating Officer to Chief Executive Officer and his appointment as a member of Zillow Group’s Board of Directors

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Richard N. Barton changed role as Co-Executive Chairman at ZILLOW GROUP, INC..

Action: became
Role: Co-Executive Chairman

Exact text from the filing

Mr. Barton will remain on the Board and become Co-Executive Chairman of the Board, alongside co-founder, President of Zillow Group, and current Executive Chairman of the Board, Lloyd D. Frink.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jeremy Wacksman was appointed as Director at ZILLOW GROUP, INC..

Action: appointed
Role: Director

Exact text from the filing

the Board increased the size of the Board from ten to eleven members and appointed Mr. Wacksman to fill the vacancy created.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jeremy Wacksman changed role as Chief Executive Officer at ZILLOW GROUP, INC..

Action: promoted
Role: Chief Executive Officer

Exact text from the filing

On August 7, 2024, Zillow Group announced the promotion of Jeremy Wacksman from Chief Operating Officer to Chief Executive Officer and his appointment as a member of Zillow Group’s Board of Directors

View on SEC.gov

ZILLOW GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001617640-24-000095

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