Proptech Earnings Radar Pt. 2 - Q1 2026 (Series V, Part XII)

Q1 results are in for proptech’s public companies.

In part 1, we shared earnings summaries and links to the full articles for each of the the ten companies we deem as the most important players in the broader category. This part 2 is the wrap-up that includes a table covering the performance of the 25 companies in the GEM Proptech Index.

The 25 companies covered in the table below represent a combined market cap of $217.661B (as of May 15, 2026). Since Q4's report (March 13, 2026), the GEM Proptech Index is down 2.62% sequentially and 10.4% YoY. (For comparison, Q4 FY25's report covered 25 companies with a combined market cap of $223.519B and last year's Q1 report covered 27 companies with a combined market cap of $242.907B).

The "Core 4", Airbnb, CoStar, Zillow, and Rocket, still represent nearly two thirds of the total index value (63.68%), decreasing 82 bps from Q4 (64.5%), and decreasing 179.5 bps YoY (65.475%).

Full chart & takeaways are below...