Q2 results have come and gone, and once again, GEM is there to summarize and analyze 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 26 companies in the GEM Proptech Index.
The 26 companies covered in the table below represent a combined market cap of $267.479B (as of August 12, 2026). Since Q1’s report (May 15, 2026), the GEM Proptech Index is up 22.89% sequentially and 4.62% YoY. (For comparison, Q1 FY26’s report covered 25 companies with a combined market cap of $217.661B, while last year’s Q2 report covered companies with a combined market cap of $255.672B.)
The “Core 4”, Airbnb, CoStar, Zillow, and Rocket, still represent nearly two thirds of the total index value (64.76%, or $173.216B), increasing 108 bps from Q1 (63.68%) and decreasing 106 bps YoY from Q2 2025 (65.82%).
Full chart & takeaways are below over on our Crystal newsletter…