Compass Q1 revenue down 31% to $957M; net loss improves to $150M; guides Q2 Adj EBITDA positive $30-50M

Compass, Inc.

2023-Q1 EPS reported -$0.33 revenue$957,200,000

Revenue $957M, down 31% YoY; GAAP net loss $150M (vs $188M loss in Q1 2022).
Adjusted EBITDA loss improved to $67M from $97M; cash and equivalents $364M.
Principal agents up 6% to 13,515; national market share 4.5%, up 17 bps sequentially.
Q2 guidance: revenue $1.45B-$1.6B, Adjusted EBITDA $30M-$50M, expects free cash flow positive.
FY 2023 outlook: Non-GAAP OpEx $850-950M, free cash flow positive.

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 0.95

Compass, Inc. reported the first quarter ended March 31, 2023 results: revenue $957 million, net income $150 million.

Period: the first quarter ended March 31, 2023
Revenue: $957 million
Net income: $150 million
Result: reported results

Exact text from the filing

Revenue decreased by 31% year-over-year to $ 957 million as transactions declined 24%, which was attributable to lower industry-wide transactions. • Q1 2023 GAAP Net loss was $150 million, an improvement from a Net loss of $188 million in Q1 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Compass, Inc. reported Q2 2023 results: revenue $1.45 billion to $1.6 billion. Guidance initiated.

Period: Q2 2023
Revenue: $1.45 billion to $1.6 billion
Guidance: initiated
Result: guidance update

Exact text from the filing

Outlook Q2 2023 Outlook: • Revenue of $1.45 billion to $1.6 billion • Adjusted EBITDA of $30 million to $50 million • Free cash flow positive

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Compass, Inc. filing history →

Source: SEC EDGAR

accession 0001563190-23-000108

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