ENVIRONMENTAL, SOCIAL & GOVERNANCE REPORT 2023
Reconciliation of Net Income to Adjusted EBITDA
The following table presents a reconciliation of CoStar Group's Adjusted EBITDA, including forward-looking guidance range Adjusted EBITDA for the full year
ending December 31, 2023, to the most directly comparable GAAP financial measure, net income.
(in thousands)
2012
For the Year Ending December 31,
For the Three
Months Ended
December 31,
2022
Low 2023 (1)
High 2023 (1)
2023 -
Low(1)
For the Three
Months Ended
December 31,
2023 - High(1)
For the Three
Months Ended
September 30,
2023
Net income
9,915
369,453
376,000
Amortization of acquired intangible assets
22,241
102,579
73,000
380,000
73,000
$
97,000
101,000
90,574
18,000
18,000
8,453
Depreciation and other amortization
10,511
29,127
34,000
34,000
10,000
10,000
18,672
Interest income, net
(526)
(32,125)
(212,000)
(212,000)
(58,000)
(58,000)
(58,422)
Other (income) expense, net
4,832
(3,383)
(2,000)
(2,000)
(465)
Income tax expense
13,219
117,004
123,000
124,000
33,000
34,000
29,907
EBITDA
60,192
582,655
392,000
397,000
100,000
105,000
88,719
Stock-based compensation expense
12,282
75,207
86,000
86,000
22,000
22,000
21,899
Acquisition and integration related costs
13,924
5,405
3,000
3,000
1,000
1,000
796
Restructuring and related costs
2,175
4,000
4,000
509
Settlements and impairments
6,069
Adjusted EBITDA
$
86,398
$
671,511
$
485,000
$
490,000
$
123,000
$
128,000
111,923
Represents forward-looking guidance.
CoStar Group™View entire presentation