Compass Q3 revenue down 14% to $1.49B; Adj EBITDA loss of $42M vs +$12M a year ago

Compass, Inc.

2022-Q3 EPS reported -$1.04 revenue$4,910,800,000

GAAP net loss $154M vs $100M loss in 3Q21; includes $29M restructuring and $50M stock-based comp.
Adjusted EBITDA loss of $42M; guides Q4 Adj EBITDA loss of $50M-$80M and FY22 loss $185M-$215M.
Transactions down 12% vs market down 21%; principal agents up 15% to 13,314; national share 4.6%.
Cash and equivalents $355M; $300M revolver available; Q4 revenue guidance $1.15B-$1.30B.
Restructuring charges of $29M in Q3 as part of cost savings program targeting $1.05B-$1.15B non-GAAP opex exiting 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Compass, Inc. reported the quarter ended September 30, 2022 results: revenue $1.49 billion, net income $154 million. Guidance initiated.

Period: the quarter ended September 30, 2022
Revenue: $1.49 billion
Net income: $154 million
Guidance: initiated
Result: reported results

Exact text from the filing

Compass, Inc. Reports Third Quarter 2022 Results • Total revenues of $1.49 billion, down 14% compared to 3Q21, driven principally by lower market volumes. • Successfully launched the Compass national agent platform in all markets allowing agents to guide their customers from first contact to close in one seamless workflow platform. • The Company incurred $29 million in restructuring charges, of which $25 million was for severance. GAAP Net Loss was $154 million, compared to a GAAP Net Loss of $100 million in 3Q21 as lower revenues and restructuring costs more than offset reductions in commissions and operating expenses.

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Source: SEC EDGAR

accession 0001563190-22-000185

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