Zillow Group, Inc. (NASDAQ:Z and ZG) today is hosting an AI Summit for Investors, highlighting how the company is leading the next era of residential real estate.

Zillow continues to execute across For Sale and Rentals. The company is reaffirming its first-quarter and full-year 2026 financial outlook and its mid-cycle financial targets while providing a new mid-cycle net income margin target. 

  • Reaffirming ranges for first quarter 2026 financial outlook: For the three months ending March 31, 2026, we expect: 
    • Total revenue of $700 million to $710 million
    • Adjusted EBITDA of $160 million to $175 million
  • Reaffirming full-year 2026 financial outlook: For the full year 2026, year over year we expect: 
    • Mid-teens total revenue growth, including Rentals revenue growth of approximately 30% 
    • Continued Adjusted EBITDA margin expansion
    • Share-based compensation to decrease by more than 10%
  • Reaffirming mid-cycle financial targets and providing mid-cycle net income margin target: For the mid-cycle, assuming a normalized housing market, we are targeting total revenue of $5 billion, Adjusted EBITDA margin of 45%, and net income margin of 25%.