Zillow Group Inc-C 2026年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 Commission File Number: 001-36853 ZILLOW GROUP, INC. (Exact name of registrant as specified in its charter)_____________________________________________________ 1301 Second Avenue, Floor 36,Seattle, Washington 98101(Address of principal executive offices) (Zip Code)(206) 470-7000(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registeredClass A Common Stock, par value $0.0001 per shareZGThe Nasdaq Global Select MarketClass C Capital Stock, par value $0.0001 per shareZThe Nasdaq Global Select Market Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Acceleratedfiler☐Smallerreportingcompany☐Emerging growth company☐ Large accelerated filer☒Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the ExchangeAct).Yes☐No☒ As of April29, 2026, 42,360,248 shares of ClassA common stock, 6,217,447 shares of Class B common stock and 180,224,115shares of Class C capital stock were outstanding. ZILLOW GROUP, INC. Quarterly Report on Form 10-Q For the Three Months Ended March 31, 2026 TABLE OF CONTENTS PART I – FINANCIAL INFORMATION Glossary of TermsItem 1.Financial Statements (unaudited)Condensed Consolidated Balance SheetsCondensed Consolidated Statements of OperationsCondensed Consolidated Statements of Comprehensive IncomeCondensed Consolidated Statements of Shareholders’ EquityCondensed Consolidated Statements of Cash FlowsNotes to Condensed Consolidated Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures PART II – OTHER INFORMATION Item 1.Legal Proceedings38Item1A.Risk Factors39Item 2.Unregistered Sales of Equity Securities and Use of Proceeds40Item 5.Other Information41Item 6.Exhibits42 Signatures43 GLOSSARY OF TERMS As used in this Quarterly Report on Form 10-Q, the terms identified below have the meanings specified below unless otherwisenoted or the context indicates otherwise: NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q, including Part I, Item2 (Management’s Discussion and Analysis of Financial Conditionand Results of Operations), contains forward-looking statements based on our management’s beliefs and assumptions and oninformation currently available to our management. Forward-looking statements include all statements that are not historical facts andgenerally may be identified by terms such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “could,”“would,” “project,” “plan,” “expect,” “potential,” “might” or the negative or plural of these words or similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those risks,uncertainties and assumptions described in Part I, Item1A (Risk Factors) in our Annual Report on Form 10-K for the fiscal year endedDecember31, 2025, including, but not limited to risks related to: •the health and stability of the economy and United States residential real estate industry, including changes in inflationaryconditions, interest rates, housing availability and affordability, labor shortages and supply chain issues;•our ability to manage advertising, product inventory and pricing, and to maintain relationships with our real estate partners;•our ability to establish or maintain relat