Compass Q1 2024 revenue up 10% YoY to $1.05B; free cash flow positive for first time in Q1

Compass, Inc.

2024-Q1 EPS reported -$0.27 revenue$1,054,100,000

Revenue $1.05B (+10% YoY); GAAP net loss $132.9M improved $17.5M YoY (includes $57.5M antitrust settlement).
Adjusted EBITDA ($20.1M) improved 70% from ($67.1M); operating cash flow $8.6M, free cash flow $5.9M (first positive Q1 FCF).
Principal agents 14,591 (+7.3% YoY); market share 4.76% (+26 bps YoY). Acquired Latter & Blum post-quarter (1,000+ agents).
Q2 2024 guidance: revenue $1.6-1.7B, Adj. EBITDA $55-75M; FY 2024 non-GAAP OPEX $867-887M; expects positive FCF for full year.
Transactions 38,449 (+7.1% YoY) outperforming market decline of 3.5%; GTV $40.1B (+9.6% YoY) vs market +3.6%.

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 first quarter ended March 31, 2024 results: revenue $1.05 billion, net income $132.9 million.

Period: the first quarter ended March 31, 2024
Revenue: $1.05 billion
Net income: $132.9 million
Result: reported results

Exact text from the filing

Q1 2024 was $211.2 million, an improvement of $32.1 million from Q1 2023 OPEX of $243.3 million.” Q1 2024 Highlights: • Revenue in Q1 2024 increased by 10% year-over-year to $ 1.05 billion as transactions increased 7.1%, while transactions declined by 3.5% for the entire residential real estate market in the first quarter, as reported by the National Association of

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Source: SEC EDGAR

accession 0001563190-24-000084

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