CoStar Group, Inc. (NASDAQ:CSGP) Q4 2019 Earnings Conference Call - Final Transcript

Feb 25, 2020 • 05:00 pm ET

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CoStar Group, Inc. (NASDAQ:CSGP) Q4 2019 Earnings Conference Call - Final Transcript

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Operator
Operator

Ladies and gentlemen, thank you for standing by, and welcome to the CoStar Fourth Quarter Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer period and instructions will be given at that time. [Operator Instructions].

I would now like to turn the conference over to your host, Sarah Spray, Investor Relations for the CoStar Group. Please go ahead.

Executive
Sarah Spray

Thank you. Good evening and thank you all for joining us to discuss the fourth quarter and full year 2019 results for the CoStar Group. Before I turn the call over to Andy Florance, CoStar's CEO and Founder; and Scott Wheeler, our CFO, I would like to review the safe harbor statement which has some new language, so listen up.

Certain portions of the discussion today may contain forward-looking statements, which involve many risks and uncertainties that can cause actual results to differ materially from such statements. Important factors that can cause actual results to differ include, but are not limited to those stated today in CoStar Group's press release issued earlier today and in our filings with the SEC, including our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, under the heading Risk Factors. All forward-looking statements are based on information available to CoStar on the date of this call. CoStar assumes no obligation to update these statements, whether as a result of new information, further events or otherwise. Reconciliation to the most directly comparable GAAP measure to the non-GAAP financial measures discussed on this call, including EBITDA, adjusted EBITDA, non-GAAP income and forward-looking non-GAAP guidance are shown in detail in our press release issued today, along with definitions for these terms. The press release is available on our website located at CoStar Group under Press Room.

As a reminder, today's conference call is being webcast and the link is also available on our website under Investor Relations. Please refer to today's press release on how to replay this call. Over to you operator. No, sorry -- actually, what am I saying?

Actually, I would like to now turn the call over to our CEO, Andy Florance. Andy?

Executive
Andrew C. Florance

Thank you very much, Sarah. We are joined [Technical Issues].

Executive
Sarah Spray

I am sorry. We are now turning over to Andy Florance who is the CEO. Apologize for the short delay.

Executive
Andrew C. Florance

Thank you, Sarah. Good evening.

Operator
Operator

Sorry. This is the AT&T operator. We do not hear any sound.

Executive
Sarah Spray

I'm sorry.

Executive
Andrew C. Florance

Can you hear us?

Executive
Sarah Spray

Can you hear us now?

Operator
Operator

Yes.

Executive
Andrew C. Florance

Great.

Executive
Sarah Spray

Okay, please let's continue.

Executive
Andrew C. Florance

Okay, we'll get going here. So good evening and thank you for joining us in CoStar Group's fourth quarter and 2019 year-end earnings call. I'm very pleased that CoStar continued to deliver outstanding growth throughout 2019.

CoStar Group's total revenue grew 17% to $1.4 billion for 2019, adding $200 million of revenue in the full year. We generate strong double digit growth across all our primary businesses with multi-family leading the way with 21% year-over-year