CoStar Group Inc's (CSGP) CEO Andy Florance on Q2 2022 Results - Earnings Call Transcript

CoStar Group, Inc. (NASDAQ:CSGP) Q2 2022 Earnings Conference Call July 26, 2022 5:00 PM ET

Company Participants

Cyndi Eakin – Senior Vice President of Investor Relations

Andy Florance – Chief Executive Officer and Founder

Scott Wheeler – Chief Financial Officer

Conference Call Participants

George Tong – Goldman Sachs

Pete Christiansen – Citi

Jeff Meuler – Baird

Stephen Sheldon – William Blair

Ryan Tomasello – KBW

John Campbell – Stephens, Inc.

Ashish Sabadra – RBC

Gustavo Laguarda – Truist

Mayank Tandon – Needham

Joe Goodwin – JMP

Operator

Good afternoon and thank you for attending today's CoStar Group Second Quarter Earnings Call. My name is Austin and I will be your moderator for today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. [Operator Instructions]

I would now like to pass the conference over to our host Cyndi Eakin with CoStar. Cyndi, please proceed.

Cyndi Eakin

Thank you, Austin. Good evening and thank you all for joining us to discuss the second quarter 2022 results of 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 our Safe Harbor statement.

Certain portions of the discussion today may contain forward-looking statements, including the Company's outlook and expectations for the third quarter and full year 2022 based on current beliefs and assumptions. Forward-looking statements involve many risks, uncertainties, assumptions, estimates, and other factors 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 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 subsequent quarterly reports on Form 10-Q, under the heading Risk Factors.

All forward-looking statements are based on the 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, future events or otherwise. Reconciliation to the most directly comparable GAAP measure of non-GAAP financial measures discussed on this call, including EBITDA, adjusted EBITDA, adjusted EBITDA margin, non-GAAP net income, non-GAAP net income per dilute share and forward-looking non-GAAP guidance are also shown in detail in our press release issued today, along with the definitions for those terms. The press release is available on our website located at costargroup.com under Press Room. As a reminder, today's conference call is being webcast and the link is also available on our website under Investors. Please refer to today's press release on how to access the replay of this call.