Proptech Earnings Radar Pt. 2 - Q1 2025 (Series V, Part VIII)

Q1 results are in for proptech’s public companies. Part 1 provides summaries of the ten companies we deem as the most important players in the broader category. In Part 2, we've shared some high level takeaways and included a table covering the top 27 companies in the GEM Proptech Index. Without further ado, let’s get to it.

Note: All market cap figures are taken end of day, May 13, 2025.

As always, links surrounded by the ❇️ emoji indicate exclusive GEM Diamond content. If you would like to have access to all links, please consider GEM Diamond membership.

The 27 companies covered in the table below represent a combined market cap of $242.907B (as of May 13th, 2025). Since Q4’s report (March 13th 2025), the GEM Proptech Index is up  6.68% sequentially from Q4’s release, and 1.01% YoY (For Q1 FY24’s report, the combined market cap of 30 stocks totaled $240.339B and was released on May 14th, 2024). The “Core 4" (Airbnb, CoStar, Zillow, and Rocket) make up 65.475% of the total index, up 12 bps from Q4’s report of 63.45% and down 4.62% YoY ( in Q1 the “Core 4” composed 70.1% of the total index).

Full chart & takeaways are below...