secwatch.observer — SEC 8-K summary
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Issuer:     ZILLOW GROUP, INC. (ZG)
CIK:        0001617640
Form:       8-K
Filed at:   2025-02-11T23:59:59+00:00
Accession:  0001617640-25-000015
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zillow Q4 revenue $554M (+17% YoY), beat outlook; expects GAAP profitability in 2025
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- Q4 revenue $554M (+17% YoY), above guidance midpoint by $21M; full-year revenue $2.2B (+15% YoY).
- GAAP net loss $52M in Q4 vs $73M a year ago; full-year net loss $112M vs $158M.
- Adjusted EBITDA $112M (20% margin) in Q4, $498M (22% margin) for full year, up 200 bps.
- Mortgages revenue surged 86% to $41M in Q4; purchase loan origination +90% to $923M.
- Management projects positive GAAP net income in 2025, with a long-term path to $5B revenue and 45% EBITDA margin.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1617640/000161764025000015/0001617640-25-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1617640/000161764025000015/z-20250211.htm
  HTML page:      https://secwatch.observer/filing/0001617640-25-000015

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer