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.

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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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Redfin

Real estate stocks Redfin and Compass have both dropped 25% over the last five days as the US housing market faces turmoil.

Real estate stocks crater as new fears of a prolonged US housing market slump trigger wave of job cuts

Shares of the real estate brokers fell sharply in Tuesday trading after they each announced plans to lay off more than 400 employees.

Compass, Redfin Shed Workers Amid Bleak Housing Market

The housing market has taken a huge hit this year as mortgage interest rates have surged and homeowners scale back on purchases. The latest casualties in the proptech world are Redfin and Compass, which both announced layoffs today that combined amounted to about 920 people.

Redfin and Compass lay off a combined 900+ employees as mortgage interest rates continue to climb

Shares of Compass Inc. dropped 6.1% in afternoon trading Tuesday, after the online real estate platform said it was cutting about 450 jobs, or 10% of its workforce, as part of a restructuring aimed at cutting costs and align its organization structure with its business strategy. The company also said it planned to wind-down its title and escrow software company, Modus Technologies Inc. Compass expects to record charges of $21.5 million to $23.0 million during the current quarter ending June 30, including $15 million to $16 million charges for severance and other termination benefits.

Compass stock sinks after plan to cut 450 jobs, close a title and escrow software business

In filings with the Securities and Exchange Commission, Compass announced a 10% cut to its workforce, and Redfin announced an 8% cut.

Real estate firms Compass and Redfin announce layoffs as housing market slows

Redfin will cut about 6% of its workforce while Compass plans on cutting around 10%.

Redfin and Compass to Cut Jobs as Housing Market Slows

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Goldman Sachs Has 5 Sizzling Buy-Rated Stocks Under $10 With Huge Upside Potential

The relationship will allow Compass agents in the Tri-State area to offer Welcome Home's services to their customers With massive data and tech advantage, Welcome Homes vets property and issues guaranteed all-in new construction pricing in 48 hours NEW YORK , June 2, 2022 /PRNewswire/ -- Welcome Homes , the world's first tech-powered new home builder is launching its Preferred Agent Program with Fortune 500 company and the largest independent residential real estate brokerage in the United States, Compass, Inc. , (NYSE: COMP) in the Tri-State area. The relationship between Compass and Welcome Homes will allow Compass agents to offer Welcome Home's services to their customers.

Real Estate Agents Now Armed with New Construction Options Amidst Historic Inventory Shortages; Compass Leads the Way with Welcome Homes Relationship

Shares of Compass have slid more than 40% year to date and are down by two-thirds relative to all-time highs. The market has baked in the fear of a real estate slowdown, despite the fact that Compass continues to buck the industry trends.

Compass: This Real Estate Titan Is Too Good Of A Steal To Pass On

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Compass, Inc. (NYSE:COMP ) Q1 2022 Earnings Conference Call May 12, 2022 5:00 PM ET Company Participants Rich Simonelli - Vice President of Investor Relations Robert Reffkin - Founder, Chairman & Chief Executive Officer Kristen Ankerbrandt - Chief Financial Officer Conference Call Participants Trevor Young - Barclays Justin Ages - Berenberg Capital Markets Ryan McKeveny - Zelman & Associates Mike Ng - Goldman Sachs Jason Helfstein - Oppenheimer Operator Ladies and gentlemen, thank you for standing by and welcome to the Compass Inc. First Quarter 2022 Earnings Call. All lines have been placed on mute to prevent any background noise.

Compass, Inc. (COMP) CEO Robert Reffkin on Q1 2022 Results - Earnings Call Transcript

Reports Record 1Q Revenue of $1.4 Billion, up 25% from 1Q21 Expands National LTM Market Share to 5.8%, up 150 basis points from 1Q21 LTM NEW YORK , May 12, 2022 /PRNewswire/ -- Compass, Inc. (NYSE: COMP), a leading tech-enabled real estate brokerage, today announced that revenue for the first quarter 2022 was $1.4 billion, an increase of 25% year-over-year. The Compass technology and services platform contributed to year-over-year Total Transactions and Gross Transaction Value growth of 18% and 23%, respectively, for the first quarter.

Compass, Inc. Reports First Quarter 2022 Results

Chief Financial Officer, Kristen Ankerbrandt, Announces Resignation, Will Stay Into September to Ensure Orderly Transition – Global Search for New CFO Underway Chief Product Officer, Greg Hart, Promoted to Chief Operating Officer NEW YORK , May 12, 2022 /PRNewswire/ -- Compass, Inc. (NYSE: COMP), a leading technology-enabled residential real estate brokerage, today announced that Chief Financial Officer, Kristen Ankerbrandt, will be leaving Compass in September to pursue opportunities outside the Company. Compass also announced that Chief Product Officer, Greg Hart, has been promoted to the role of Chief Operating Officer.

Compass Announces Changes to Executive Structure, Outlines Plan to Support Transition

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NEW YORK , May 11, 2022 /PRNewswire/ -- Compass, Inc. (NYSE: COMP), a leading technology-enabled residential real estate brokerage, today announced that management will present at the 17th Annual Needham Technology & Media Conference on Monday May 16, 2022. The virtual Fireside Chat is scheduled to begin at 2:15 p.m.

Compass to Present at 17th Annual Needham Technology & Media Conference

The Shopify CTO brings decades of engineering leadership experience to the Company's growing board of directors In addition to Shopify, Leinwand has led engineering teams at several of the world's most transformational companies, including Slack, ServiceNow and Zynga NEW YORK , May 9, 2022 /PRNewswire/ -- Compass, Inc. (NYSE: COMP), a leading technology-enabled residential real estate brokerage, today announced that Shopify CTO Allan Leinwand has been appointed to the company's Board of Directors. One of the most widely-respected leaders in technology, Leinwand brings decades of engineering experience to the Compass board.

Compass Appoints Shopify CTO Allan Leinwand to Its Board of Directors

CHICAGO , May 5, 2022 /PRNewswire/ -- OriginPoint, a digitally driven mortgage origination joint venture between Compass, Inc. (NYSE: COMP) and Guaranteed Rate, Inc. ("Guaranteed Rate") is delighted to welcome John Stewart as its new EVP of National Sales. In this role, Stewart will oversee all of OriginPoint's sales and recruiting operations.

OriginPoint Welcomes John Stewart as EVP of Sales

The Mindbody CEO brings deep platform and embedded payment applications expertise to the company's growing board of directors NEW YORK , April 11, 2022 /PRNewswire/ -- Compass, Inc. (NYSE: COMP), a leading technology-enabled residential real estate brokerage, today announced the appointment of Josh McCarter to its board of directors. McCarter currently serves as Chief Executive Officer of Mindbody, the leading wellness experience technology platform that empowers businesses and entrepreneurs in the fitness, wellness, and beauty industries.

Compass Appoints Josh McCarter, CEO of Mindbody, to Board of Directors

The consensus price target hints at a 141.4% upside potential for Compass, Inc. (COMP). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Does Compass, Inc. (COMP) Have the Potential to Rally 141% as Wall Street Analysts Expect?

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Compass stock has been beaten down by virtue of being part of a bad vintage of IPOs.

Compass: Wall Street Doesn't Get It Yet

NEW YORK, March 18, 2022 /PRNewswire/ -- Compass, Inc. (NYSE: COMP), a leading technology-enabled residential real estate brokerage, today announced that its first quarter 2022 financial results will be released after market close on Thursday, May 12, 2022. 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 2022 Results on May 12

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NEW YORK, March 1, 2022 /PRNewswire/ -- Compass, Inc. (NYSE: COMP), a leading technology-enabled residential real estate brokerage, today announced that it will participate in the following investor conferences. Robert Reffkin, Founder, Chairman, and Chief Executive Officer, and Kristen Ankerbrandt, Chief Financial Officer, will both present at: 2022 Wedbush Real Estate Technology Conference on Thursday March 3 at 10:40 a.m.

Compass to Present at Upcoming Investor Conferences

The residential real estate industry has been targeted by tech players for disruption. It has all the ingredients for process innovation.

News for Compass Stock (COMP)