Zoopla has reported a pre-tax loss in its latest financial results, further widening the gap between the property portal and industry leader Rightmove, The Times reports this morning.
The Silverlake-backed firm continues to grapple with what it calls “challenging market conditions,” including the need to write down the value of Yourkeys – a platform acquired four years ago to support property developers.
The company did not disclose how many estate agents currently pay to list on its platform but claimed its customer base “remained broadly stable” over the past year.
Despite this, annual revenue fell by 7% to £84.17m, down from £90.45m in 2023. Zoopla attributed the drop to what it described as a “rationalised product set,” following the decision to phase out certain legacy advertising offerings.
Chief executive Paul Whitehead has led the shift away from older advertising models as the company refocuses on its core platform and developer services in an increasingly competitive market.
“They generated a bit of revenue, but they weren’t good for consumers or customers,” he said. “Difficult decision, always, but it’s allowed us to concentrate on being a core marketplace.”
He added that the performance of the remaining business “was pretty resilient” in spite of what he described as “challenging market conditions” and the internal streamlining he was overseeing.
But Zoopla still made a pre-tax loss of £5.17m in the 12 months to the end of December 2024, compared with a pre-tax profit of £18.79m the previous year.
The fall into the red was a consequence of a £19.5m writedown of the value of Yourkeys, which was acquired in 2021 and helps developers to manage their reservations and sales. “The writedown relates to a shift in strategic priorities to other brands and initiatives,” Zoopla said.
The accounts demonstrate how far Zoopla has fallen behind Rightmove, which generated more than double portal’s annual revenue in the first six months of 2025 alone.
Sky News reported last week that Silver Lake Partners has hired two investment banks to launch a review of strategic options for the assets which sit within holding company ZPG, amid growing speculation that Zoopla and other key assets which sit within holding company ZPG could be sold.
Zoopla has been approached for comment.
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