For the quarter ending 2026-03-31, ZG had -$90M decrease in cash & cash equivalents over the period. $166M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 46 | 3 | 10 | 2 |
| Depreciation and amortization | 65 | 65 | 67 | 67 |
| Share-based compensation | 81 | 95 | 99 | 99 |
| Amortization of right of use assets | 2 | 2 | 2 | 2 |
| Amortization of contract cost assets | 6 | 5 | 6 | 5 |
| Amortization of debt issuance costs | - | - | 0 | 0 |
| Impairment costs | - | 0 | 2 | 0 |
| Accretion of bond discount | - | 2 | 2 | 2 |
| Other adjustments to reconcile net income to net cash provided by operating activities | -16 | 12 | -1 | -2 |
| Accounts receivable | 4 | -8 | 6 | 36 |
| Mortgage loans held for sale | -25 | 95 | 41 | 65 |
| Prepaid expenses and other assets | 64 | 15 | 21 | 8 |
| Contract cost assets | 6 | 5 | 5 | 6 |
| Lease liabilities | -4 | -2 | -3 | -4 |
| Accounts payable | 32 | -2 | -18 | 21 |
| Accrued expenses and other current liabilities | 23 | -1 | 14 | 9 |
| Accrued compensation and benefits | 8 | 3 | 2 | 5 |
| Deferred revenue | 5 | 0 | -1 | 0 |
| Other long-term liabilities | 1 | 3 | - | 0 |
| Net cash provided by operating activities | 200 | 72 | 105 | 87 |
| Proceeds from maturities of investments | 93 | 73 | 66 | 122 |
| Proceeds from sales of investments | 391 | 0 | 11 | 48 |
| Purchases of investments | 64 | 84 | 18 | 49 |
| Purchases of property and equipment | 34 | 28 | 32 | 37 |
| Purchases of intangible assets | 10 | 11 | 8 | 7 |
| Cash paid for acquisitions, net | - | 0 | - | - |
| Net cash provided by (used in) investing activities | 376 | -50 | 19 | 77 |
| Net borrowings on warehouse line of credit and repurchase agreements | - | 219 | - | - |
| Net borrowings (repayments) on master repurchase agreements | -128 | - | 42 | 57 |
| Repurchases of class a common stock and class c capital stock | 626 | 232 | 38 | 150 |
| Settlement of convertible senior notes | - | 0 | 0 | 419 |
| Settlement of capped call transactions | - | 0 | 38 | - |
| Payments for debt issuance costs | 2 | - | - | - |
| Proceeds from exercise of stock options | 18 | 12 | 121 | 22 |
| Payment of contingent consideration for acquisition | 27 | 0 | 0 | 0 |
| Net cash used in financing activities | -666 | -128 | 163 | -490 |
| Net decrease in cash, cash equivalents and restricted cash during period | -90 | -106 | 287 | -326 |
| Cash, cash equivalents and restricted cash at beginning of period | 773 | 879 | 592 | 918 |
| Cash, cash equivalents and restricted cash at end of period | 683 | 773 | 879 | 592 |
ZILLOW GROUP, INC. (ZG)
ZILLOW GROUP, INC. (ZG)