Compass

Compass, Inc. engages in the provision of an online real estate platform. Its platform provides an integrated suite of software for customer relationship management, marketing, client service, operations and other critical functionality, as well as brokerage services and adjacent services. The company was founded by Ori Allon and Robert Reffkin in 2012 and is headquartered in New York, NY.

Earnings data Q1 2021

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Earnings data Q1 2022

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Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Compass reports 2022 revenue decline, eyes cost reduction for growth

Compass navigated a challenging year in real estate with a focus on cost reduction and technology enhancements. Despite market uncertainties, the company aims for free cash flow positivity in 2023, leveraging increased buyer interest and agent productivity.

Compass beats revenue targets, eyes positive cash flow in 2023

Compass showcased strong financial performance in Q1 2023, exceeding revenue guidance and improving EBITDA despite market challenges.
Strategic strengths include market share gains, cost efficiency improvements, and a focus on agent technology and culture.
Challenges lie in transaction volume decline, managing operating expenses, and navigating market recovery speed variables.
Opportunities for growth stem from market expansion, technology utilization, and maintaining cost discipline for sustained financial success.

Compass reports strong Q2 earnings, eyes cost control for growth

Compass's Q2 earnings call highlighted robust financial performance, strategic investments in technology, and a focus on agent support. Despite industry challenges, the company maintains a strong financial position and competitive edge through AI tools and global expansion. Cost control and market recovery are key focuses for future growth.

Compass reports strong Q3 performance amidst market challenges and opportunities

Compass reported strong financial performance in Q3, emphasizing cost control measures, technology enhancements, and market positioning. Despite challenges in margins and market conditions, the company remains confident in its current cost base and technology investments for future success.

Compass reports solid Q4 performance, eyes market growth in 2024

Compass showcased resilience in cost management and talent acquisition, outperforming in agent economics and market share growth.
Despite challenges in profitability, the company's focus on operational efficiencies and technology enhancements positions it for future success.
Opportunities lie in continued market outperformance, expansion of services, and strategic positioning for growth in 2024.

Compass reports robust Q1 results, eyes growth amid market challenges

Compass demonstrated financial strength and growth momentum in Q1 2024, despite market challenges.
Strategic initiatives and confidence in agents position Compass for future success and market leadership.
Focus on innovation, client experience, and operational efficiency to drive profitability and value creation.
Adaptation to industry changes and leveraging opportunities to strengthen market position and revenue growth.

Compass achieves record earnings, eyes growth amid operational optimizations

Compass reports stellar Q2 2024 performance with record income and revenue growth. Strategic focus on market share, cost efficiency, and agent economics. Challenges ahead with seasonal cash flow impacts and structural adjustments.

Compass reports stellar Q3 results, eyes market dominance by 2026

Compass's Q3 performance reflects robust growth, operational efficiency gains, and a clear strategic vision for future expansion.
The company's strengths lie in its resilience, market outperformance, and focus on long-term margin expansion strategies.
Challenges include sustaining growth rates, navigating market uncertainties, and balancing operational efficiency with growth ambitions.
Opportunities exist in leveraging structural advantages, pursuing strategic partnerships, and executing on the 30 for 30 vision for market dominance.

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NEW YORK , May 13, 2024 /PRNewswire/ -- Compass, Inc. (NYSE: COMP) ("Compass"), the largest residential real estate brokerage in the United States by sales volume 1 , announces the addition of Parks Real Estate, Tennessee's number one residential real estate firm by sales volume with over 1,500 agents. The combination of Compass and Parks agents now represents one of four homes sold in Tennessee.

Compass Strengthens Footprint in Southeastern U.S., Welcoming the Top Brokerage in Tennessee

Compass, Inc. (NYSE:COMP ) Q1 2024 Earnings Conference Call May 8, 2024 5:00 PM ET Company Participants Richard Simonelli - Senior Vice President, Investor Relations Robert Reffkin - Founder and Chief Executive Officer Greg Hart - Chief Operating Officer Kalani Reelitz - Chief Financial Officer Conference Call Participants Jason Helfstein - Oppenheimer Soham Bhonsle - BTIG Anika Dholakia - Barclays Ryan McKeveny - Zelman Soham Bhonsle - BTIG Operator Thank you for standing by. My name is Kathleen and I will be your conference operator today.

Compass, Inc. (COMP) Q1 2024 Earnings Call Transcript

Compass, Inc. (COMP) came out with a quarterly loss of $0.27 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.33 per share a year ago.

Compass, Inc. (COMP) Reports Q1 Loss, Tops Revenue Estimates

Grows Revenue 10% year-over-year Increases Agent Count and Market Share year-over-year Free Cash Flow Positive for Q1 2024 NEW YORK , May 8, 2024 /PRNewswire/ -- Compass, Inc. (NYSE: COMP) ("Compass" or "the Company"), the largest residential real estate brokerage in the United States by sales volume1 for the third year in a row, announced its financial results for the first quarter ended March 31, 2024. "We exceeded our expectations for Q1 2024 by growing our Q1 revenue 10% year-over-year and significantly reducing our non-GAAP operating expenses, or OPEX 2 , generating positive free cash flow," said Robert Reffkin, Founder and Chief Executive Officer of Compass.

Compass, Inc. Reports First Quarter 2024 Results

Offerpad Solutions

Redfin

Zillow

Proptech stocks are having a bad year. Redfin (RDFN) stock price has crashed by over 62% this year while Offerpad (OPAD), Compass (COMP, and Zillow (Z) have plunged by over 26% and 27% this year.

Redfin, Offerpad, Zillow, Compass stocks are falling: here's why

NEW YORK , April 18, 2024 /PRNewswire/ -- Compass, Inc. (NYSE: COMP), the largest residential real estate brokerage in the United States by sales volume 1 , announces its first quarter 2024 financial results will be released after market close on Wednesday, May 8, 2024. The company will host a conference call and webcast to discuss its results that afternoon at 5:00 p.m.

Compass to Announce First Quarter 2024 Earnings on Wednesday, May 8

Compass is the latest to settle but likely not the last.

Compass Settles Suit on Commissions. The Real Estate Brokerage's Stock Is Down.

The firm is the first big real estate brokerage to reach such an agreement since the National Association of Realtors' landmark settlement last week.

Compass Agrees to Pay $57.5 Million to Settle Antitrust Claims

RE/MAX Hld

The National Association of Realtors has reached a $418 million settlement to change the automatic commission to the buyer's agent. Home sellers can still choose to sell their homes themselves or negotiate fees with brokers.

Real Estate Stocks Just Got Decimated: What I'm Buying For The Rebound

The National Association of Realtors announced a $418 million settlement to end antitrust lawsuits. The NAR agreed to a new set of rules, which will reset long-held standards on commissions.

Real estate stocks plunge as NAR agrees to landmark settlement that rewrites rules on commissions

Douglas Elliman

Anywhere Real Estate Inc

The powerful National Association of Realtors has agreed to eliminate rules on commissions to settle lawsuits and to pay $418 million in damages, the New York Times reported Friday. The group later confirmed the report in a statement.

Realtor group agrees to cut commissions to settle lawsuits, in a move that could reshape home sales

Compass, Inc. (COMP) Q4 2023 Earnings Call Transcript

Grows Agent Count and Market Share year-over-year and quarter-over-quarter in Q4 Expects to Be Free Cash Flow Positive for Full Year 2024 NEW YORK , Feb. 27, 2024 /PRNewswire/ -- Compass, Inc. (NYSE: COMP) ("Compass" or "the Company"), the largest residential real estate brokerage in the United States by transaction volume1, announced its financial results for the fourth quarter and full year ended December 31, 2023. "Over the past two years, we have successfully navigated the worst residential real estate market in decades and significantly reset our operating expense levels, positioning Compass for what we believe will be significant upside when the market begins to recover," said Robert Reffkin, Founder and Chief Executive Officer of Compass.

Compass, Inc. Reports Fourth Quarter and Full Year 2023 Results

A strong US stock market means homebuyers are more tolerant of high mortgage rates, Compass CEO Robert Refkin said. Mortgage rates have been climbing back up towards 8% after hotter inflation data and delayed Fed rate cuts.

A booming stock market means homebuyers will be more tolerant of high mortgage rates, Compass CEO says

NEW YORK , Feb. 6, 2024 /PRNewswire/ -- Compass, Inc. (NYSE: COMP), the largest residential real estate brokerage in the United States by transaction volume1, today announced its fourth quarter and full year 2023 financial results will be released after market close on Tuesday, February 27, 2023. The company will host a conference call and webcast to discuss its results that afternoon at 5:00 p.m.

Compass to Announce Fourth Quarter and Full Year 2023 Results February 27

The housing market is flashing signs of life, Compass CEO Robert Reffkin said. Home sales plunged to their lowest since 1995 in 2023, driven down by higher borrowing costs.

There are 3 bullish signals flashing that point a recovery in the housing market, Compass CEO says

Buyers react more to the change in mortgage rates than the actual rates themselves, Compass CEO Robert Reffkin said. The rate relief comes as inventory is loosening up, which is an encouraging sign for buyers.

Homebuyers react more to changes in mortgage rates than actual rates, Compass CEO says

Compass reported revenue and EBITDA in line with estimates, but negative sentiment in the housing market remains a concern. High mortgage rates are disincentivizing sellers from listing their homes, leading to low inventory in the market. Lawsuits against the National Association of Realtors and real estate brokerage firms could permanently impair Compass's business if commission rates are adjusted.

Compass: Potential Impairment To Its Business

Compass, the largest brokerage in the US, has seen its share price plummet due to the real estate market dampening and the recent lawsuit against the NAR. The lawsuit questions the fee-based real estate agency model and may lead to changes in fee structures and commission rates. Despite the risks, Compass has shown improvement in revenue declines, market share growth, and success in bringing down operating expenses.

Compass: Risks Have Multiplied, But Market Share Gains Are Encouraging (Ratings Downgrade)

Compass, Inc. (NYSE:COMP ) Q3 2023 Earnings Conference Call November 6, 2023 5:00 PM ET Company Participants Richard Simonelli - Vice President of Investor Relations Robert Reffkin - Founder and Chief Executive Officer Greg Hart - Chief Operating Officer Kalani Reelitz - Chief Financial Officer Conference Call Participants Soham Bhonsle - BTIG Bernie McTernan - Needham Mike Ng - Goldman Sachs Matthew Bouley - Barclays Lloyd Walmsley - UBS Ryan McKeveny - Zelman and Associates Matthew Cost - Morgan Stanley Operator Thank you for standing by. And welcome to the Compass Inc. Third Quarter 2023 Earnings Call.

Compass, Inc. (COMP) Q3 2023 Earnings Call Transcript

Achieves Positive Free Cash Flow In Third Quarter NEW YORK , Nov. 6, 2023 /PRNewswire/ -- Compass, Inc. (NYSE: COMP) ("Compass" or "the Company"), the largest residential real estate brokerage in the United States by transaction volume1, announced its financial results for the third quarter ended September 30, 2023. "In the third quarter, for the second quarter in a row, Compass is free cash flow positive as we continue to execute our plan to drive operating expenses down while continuing to grow our agent count and expanding the features on our technology platform, the industry's only proprietary first-contact to close platform," said Robert Reffkin, Founder and Chief Executive Officer of Compass.

Compass, Inc. Reports Third Quarter 2023 Results

Opendoor

Real estate stocks stand to benefit if the Fed is done raising rates. Existing home sales have been crushed by rising mortgage rates.

Why Opendoor, Redfin, and Compass Stocks All Jumped Today

US mortgage rates are soaring as investors predict that the Federal Reserve will continue hiking rates for longer. They jumped to 8% on Thursday for the first time in 23 years.

US mortgage rates hit 8%: Is it safe to buy RDFN, COMP, OPAD, OPEN stocks dip?

NEW YORK , Oct. 17, 2023 /PRNewswire/ -- Compass, Inc. (NYSE: COMP), the largest residential real estate brokerage in the United States by transaction volume1, today announced its third quarter 2023 financial results will be released after market close on Monday, November 6, 2023. The company will host a conference call and webcast to discuss its results that afternoon at 5:00 p.m.

Compass to Announce Third Quarter 2023 Results on Monday, November 6

Compass has a positive competitive standing and strong brand reputation, but there are risks to the agent commission model and uncertainty in expanding related services. Q2 earnings saw a decline, and the company expects a decline in market volumes for the fiscal year. COMP is focused on managing operating expenses and investing in research and development, but the stock may experience a negative reaction if earnings fall short of expectations.

News for Compass Stock (COMP)