Welcome to our dedicated page for Compass news (Ticker: COMP), a resource for investors and traders seeking the latest updates and insights on Compass stock.
Compass, Inc. (NYSE: COMP) is a pioneering technology-driven real estate platform that aims to revolutionize the traditional brokerage model. Established in 2012 by Ori Allon and Robert Reffkin, Compass combines cutting-edge technology with exceptional talent from the realms of real estate, business, and creativity to simplify and enhance the real estate transaction process. Headquartered in New York City, Compass boasts additional offices in Washington D.C., Miami, Boston, and the Hamptons.
Compass provides an end-to-end platform designed to empower residential real estate agents, enabling them to offer unparalleled service to both buyers and sellers. The platform integrates a comprehensive suite of cloud-based software solutions tailored specifically for the real estate industry, including tools for customer relationship management (CRM), marketing, client service, and core brokerage functionalities.
In recent financial highlights, Compass reported positive free cash flow for the second quarter of 2023, with national market share climbing to 4.6%. The company continues to innovate with features like the Performance Tracker and Compass GPT integration, alongside a 1-click Title & Escrow service. Financial metrics indicated a remarkable operational improvement, with non-GAAP operating expenses significantly reduced.
The company's growing influence is evident through strategic acquisitions and organic growth. Compass recently acquired Parks Real Estate, the leading brokerage in Tennessee, and Latter & Blum, the top brokerage in the Gulf South. These moves strengthen Compass' presence in the Southeast, an area experiencing significant population migration.
Compass' financial position is robust, with $335 million in cash and equivalents as of Q2 2023, and a commitment to maintaining operating expenses at $900 million annually through 2025. The platform continues to attract and retain top talent, boasting over 90% annualized retention of principal agents in Q2 2023.
For more detailed and up-to-date financial information, please visit the Compass Investor Relations website at investors.compass.com.
Compass (NYSE: COMP), the largest US residential real estate brokerage by sales volume, has launched Compass One, a client-facing version of its end-to-end technology platform. This innovative dashboard connects clients with their agents 24/7 throughout their real estate journey.
The platform, developed by Compass's in-house technology team with a $1.6 billion investment, provides three key phases of service: Before the transaction, clients access curated dashboards, customized timelines, and market analyses; During the transaction, clients can track key dates, tasks, and documents; After the transaction, clients maintain access to documentation and stay connected with their agents for future needs.
Compass One aims to strengthen agent-client relationships, drive repeat business, and create new opportunities for ancillary services by providing transparency and streamlined communication throughout the entire homeownership journey.
Compass (NYSE: COMP), the largest US residential real estate brokerage by sales volume, has raised its Q4 2024 and full-year 2024 outlook. Despite a challenging market with resale transactions approaching a 29-year low, the company expects to deliver record Adjusted EBITDA and free cash flow for 2024.
Key updates include:
- Q4 revenue outlook raised to $1.36-1.39 billion (previously $1.225-1.325 billion)
- Full-year 2024 revenue outlook increased to $5.61-5.64 billion (previously $5.47-5.57 billion)
- Q4 Adjusted EBITDA outlook raised to $15-18 million (previously $0-10 million)
- Full-year 2024 Adjusted EBITDA outlook increased to $124-127 million (previously $109-119 million)
The company recruited over 650 principal agents organically in Q4, a 50% improvement year-over-year, and expects to maintain positive free cash flow in every quarter of 2024, including Q4.
Quad-C Management has completed the sale of @properties to Compass (NYSE: COMP). @properties, a Chicago-based real estate services company, operates brokerage firms across seven states and owns the Christie's International Real Estate network, which spans nearly 50 countries.
During Quad-C's partnership, @properties achieved significant growth, including a 250% revenue increase, opening of 20 new offices, and completion of six acquisitions. The company expanded its title and mortgage services while enhancing its technology, marketing, and training platforms.
The merger with Compass aims to provide enhanced resources and support to agents and independent broker-owners affiliated with Christie's International Real Estate, focusing on technology integration, marketing improvements, and service excellence while maintaining the distinct brands of both companies.
Compass (NYSE: COMP), the leading U.S. residential real estate brokerage by sales volume, has announced its participation in the 27th Annual Needham Growth Conference. The event will be held on January 15, 2025, at the Lotte NY Palace Hotel.
CEO & Founder Robert Reffkin and CFO Kalani Reelitz will engage in a fireside chat at 8:00 a.m. ET, followed by investor meetings throughout the day. The presentation will be accessible via webcast and remain available for replay on the Compass Investor Relations website for 90 days.
Compass (NYSE: COMP) announced a strategic merger with Christie's International Real Estate, @properties, and Ansley Real Estate. Christie's International Real Estate operates through 100+ independent affiliates across 50 countries, while @properties ranks as the 8th largest US residential brokerage by sales volume. The partnership includes Proper Title and Proper Rate mortgage businesses, along with Suburban Jungle lead-generation business. The merger aims to accelerate domestic and international growth opportunities while maintaining Christie's International Real Estate's independent affiliate network structure.
Compass Inc reported strong Q3 2024 results with revenue increasing 11.7% year-over-year to $1.5 billion. The company showed significant improvement with a reduced net loss of $1.7 million compared to $39.4 million in Q3 2023. Adjusted EBITDA reached $52.0 million, up from $21.8 million last year. Transactions increased 16.1% while market share grew to 4.80%. The company maintained strong agent retention at 97.8% and grew principal agents by 20% to 17,542. Cash balance stood at $211.2 million with positive operating cash flow of $37.4 million. For Q4 2024, Compass projects revenue between $1.225-1.325 billion and expects to be free cash flow positive for full year 2024.
Compass, the largest residential real estate brokerage in the United States, has appointed Soham Bhonsle as the new Head of Investor Relations. Bhonsle brings over a decade of experience covering the housing sector and a deep understanding of the real estate transaction cycle. He will report to Compass' Chief Financial Officer, Kalani Reelitz.
Bhonsle joins Compass from BTIG, where he was a Senior Analyst and Vice President covering the Housing Services sector. His expertise spans agent and seller engagement, post-sale services, and emerging market trends. Compass expects Bhonsle's industry knowledge and strategic insights to reinforce their commitment to maximizing shareholder value and empowering agents through innovative technology and support.
Compass, Inc. (NYSE: COMP), the largest residential real estate brokerage in the United States by sales volume, has announced that it will release its third quarter 2024 financial results after market close on Wednesday, October 30, 2024. The company will host a conference call and webcast to discuss the results at 5:00 p.m. ET / 2:00 p.m. PT on the same day.
Investors can access the conference call through the Compass Investor Relations website or by registering in advance. An audio recording of the call will be available for replay for 90 days following the event. The shareholder presentation can also be accessed through the Events and Presentations section of the Investor Relations website.
Compass, the largest residential real estate company in the United States by sales volume, has announced that its CEO & Founder Robert Reffkin will be speaking at the Zelman Housing Summit. The event is scheduled for Thursday, September 12, 2024, at the InterContinental Hotel in Boston.
Reffkin's interview will be accessible to the public via a live webcast. Interested parties can register for the webcast through a provided link. For those unable to attend the live session, a replay will be available under the 'Events & Presentations' section on the Compass Investor Relations website.
This appearance at a prominent housing summit underscores Compass's position as a leader in the real estate industry and provides an opportunity for investors and industry professionals to gain insights from the company's founder.
Compass, the largest residential real estate company in the U.S. by sales volume, has announced its participation in Oppenheimer's 27th Annual Technology, Internet & Communications Conference. The virtual event is scheduled for August 13, 2024, featuring CEO & Founder Robert Reffkin, along with CFO Kalani Reelitz and CAO Scott Wahlers.
The team will be available for one-on-one meetings and participate in a fireside chat at 11:35 AM ET. The chat will be publicly accessible via webcast and available for replay on the Compass Investor Relations website. This event provides an opportunity for investors to gain insights into Compass's strategies and performance in the real estate technology sector.
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