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, a leading technology-enabled residential real estate brokerage, announced its participation in two upcoming investor conferences. Robert Reffkin, Founder and CEO, along with Kristen Ankerbrandt, CFO, will present at:
- UBS Global Technology, Media and Telecommunications Conference on December 7, 2021, at 5:00 p.m. ET.
- Barclays Global Technology, Media and Telecommunications Conference on December 8, 2021, at 12:40 p.m. ET.
Live and replay presentations will be available on the Compass Investor Relations website.
Compass, Inc. (NYSE: COMP) has appointed Frank Martell, CEO of CoreLogic, to its board of directors. Martell brings over 30 years of leadership experience in real estate and analytics, having previously served as CFO and COO at CoreLogic before becoming CEO in 2017. Compass reported $69.1 billion in Gross Transaction Value and $1.74 billion in revenue last quarter, with a 36% increase in transactions compared to a 1% decrease in the broader market. Martell's expertise is expected to strengthen Compass's mission to empower agents through technology.
Compass, a leading real estate technology firm, announced a presentation at the Stephens Annual Investment Conference on December 1, 2021. CEO Robert Reffkin and CFO Kristen Ankerbrandt will engage in a fireside chat starting at 10:00 a.m. ET. Investors can access both live and replay versions of the presentation on the Compass Investor Relations website. Founded in 2012, Compass offers a robust platform for real estate agents, enabling them to deliver exceptional client services.
Compass reported a record revenue of $1.74 billion for 3Q21, up 47% year-over-year, driven by a 36% increase in transactions. Despite a GAAP Net Loss of $100 million, Adjusted EBITDA improved to $12 million. The company expanded its market share from 4.1% to 5.4% year-over-year, and launched operations in five new markets. For FY2021, Compass expects revenue between $6.375 billion and $6.425 billion, and aims for Adjusted EBITDA profitability in 2022.
Compass, a major real estate technology firm, announced that its leadership team, including CEO Robert Reffkin, will present at the Compass REtreat on November 16, 2021, at 6:30 p.m. ET. The presentation will be accessible both live and for replay on the Compass Investor Relations website. Founded in 2012, Compass offers a comprehensive platform to enhance the efficiency of real estate agents.
Compass, a real estate technology firm, will announce its third quarter 2021 financial results after market close on November 10, 2021. A conference call and webcast will follow at 4:30 p.m. ET to discuss the results. Investors can access the call via the Compass Investor Relations website. An audio recording will be available for 90 days post-call. Compass aims to provide innovative solutions for real estate agents through its comprehensive platform, which streamlines various industry functions.
Compass, Inc. (NYSE: COMP) announced the signing of a definitive agreement to acquire CommonGround Abstract, LLC, a title company serving Pennsylvania and New Jersey. This acquisition expands Compass' title and escrow portfolio, allowing services in nine states and Washington D.C. Founded in 2019, CommonGround Abstract has a reputation for quality service and efficiency. The transaction is expected to close by year-end, enhancing Compass' presence in the Greater Philadelphia and South Jersey markets. Details of the transaction remain undisclosed.
Compass has announced a definitive agreement to acquire First Alliance Title LLC, a prominent title company in the Denver area, enhancing its title and escrow service portfolio across nine states. This acquisition aligns with Compass's vision of providing a seamless real estate experience, focusing on transparency and efficiency for agents. The deal, expected to close by year-end, follows recent acquisitions in Washington D.C. and Dallas-Fort Worth, expanding Compass's operations in major US markets, including California and Florida.
Compass has announced a definitive agreement to acquire LegacyTexas Title Co., a prominent title insurance provider in the Dallas-Fort Worth area. This acquisition aims to enhance Compass's expanding portfolio of title and escrow services. LegacyTexas Title, known for its reliable customer service, aligns with Compass's goal of delivering exceptional experiences to clients. The deal is subject to regulatory approval and is expected to close by year-end. This move follows Compass's prior acquisitions, further solidifying its footprint in key markets across the U.S.
Compass reported record results for 2Q21 with revenue of $1.95 billion, up 186% year-over-year. The company nearly doubled its market share to 6.2% and expects to achieve Adjusted EBITDA profitability by 2022, one year earlier than anticipated. Total transactions rose 140%, with agents generating an average of 6.2 transactions each. GTV reached $77.0 billion, reflecting strong transaction volume. Compass also entered 15 new markets, expanding to 62 total. For 3Q21, revenue guidance is set at $1.65 to $1.75 billion, and full-year revenue is projected at $6.15 to $6.35 billion.
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