COMP

MKT CAP:$4B

Compass, Inc.

Market Cap

$4B

Technology·Software - Application·🇺🇸 United States·NYSE

Technology·Software App·🇺🇸·NYSE

Stock Price

$7.68-$2.82 (-26.86%)

Apr 23, 2026

Company Details

Compass, Inc. provides real estate brokerage services in the United States. It operates a cloud-based platform that provides an integrated suite of software for customer relationship management, marketing, client service, operations, and ot...

CEO

Robert L. Reffkin

IPO Date

Apr 1, 2021

Website

www.compass.com

Key Metrics TTM

Revenue

$6.3B

+30.7% YoY

Net Income

-$138M

EPS (Diluted)

-$0.25

Free Cash Flow

$162M

Revenue / Share

$10.98

Gross Margin

16.1%

Operating Margin

-2.1%

Net Margin

-2.2%

FCF Margin

2.6%

P/S

0.7x

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Feb 27, 2026

$7.0B+23.7%EPS -$0.10

Q4 2025

Feb 27, 2026

$1.7B+23.1%EPS -$0.07

Q3 2025

Nov 5, 2025

$1.8BEPS -$0.01

Q1 2025

May 9, 2025

$1.4B+28.7%EPS -$0.09

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$1.1B	$172M	-$213M
Q2 21	$2.0B	$361M	-$8M
Q3 21	$1.7B	$313M	-$101M
Q4 21	$1.6B	$265M	-$172M
Q1 22	$1.4B	$251M	-$186M
Q2 22	$2.0B	$367M	-$99M
Q3 22	$1.5B	$276M	-$152M
Q4 22	$1.1B	$188M	-$153M
Q1 23	$957M	$166M	-$148M
Q4 23	$1.1B	$201M	-$83M
Q1 24	$1.1B	$192M	-$132M
Q2 24	$1.7B	$295M	$21M
Q4 24	$1.4B	$241M	-$41M
Q1 25	$1.4B	$250M	-$54M
Q3 25	$1.8B	$343M	-$7M
Q4 25	$1.7B	$177M	-$28M

Valuation

Quarter	P/S	P/E
Q1 21	1.7x	—
Q2 21	0.9x	—
Q3 21	0.9x	—
Q4 21	0.6x	—
Q1 22	0.5x	—
Q2 22	0.2x	—
Q3 22	0.2x	—
Q4 22	0.2x	—
Q1 23	0.3x	—
Q4 23	0.4x	—
Q1 24	0.4x	—
Q2 24	0.3x	—
Q4 24	0.6x	—
Q1 25	0.8x	—
Q3 25	0.7x	—
Q4 25	1.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	-$47M	-$57M
Q2 21	$91M	$81M
Q3 21	$4M	-$9M
Q4 21	-$77M	-$93M
Q1 22	-$111M	-$132M
Q2 22	-$9M	-$30M
Q3 22	-$54M	-$69M
Q4 22	-$118M	-$131M
Q1 23	-$56M	-$59M
Q4 23	-$39M	-$41M
Q1 24	$9M	$6M
Q2 24	$45M	$40M
Q4 24	$31M	$27M
Q1 25	$23M	$20M
Q3 25	$76M	$74M
Q4 25	$45M	$42M

Capital Expenditures

Quarter	CapEx
Q1 21	$10M
Q2 21	$10M
Q3 21	$14M
Q4 21	$17M
Q1 22	$21M
Q2 22	$21M
Q3 22	$16M
Q4 22	$13M
Q1 23	$4M
Q4 23	$2M
Q1 24	$3M
Q2 24	$5M
Q4 24	$4M
Q1 25	$4M
Q3 25	$2M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+79.7%	+75.9%
Q2 21	+186.1%	+155.2%
Q3 21	+46.7%	+53.4%
Q4 21	+31.0%	+40.4%
Q1 22	+25.4%	+19.3%
Q2 22	+3.5%	+8.2%
Q3 22	-14.3%	-10.8%
Q4 22	-31.3%	-29.4%
Q1 23	-31.5%	-30.1%
Q4 23	-45.7%	-44.4%
Q1 24	-29.4%	-27.9%
Q2 24	+53.6%	+33.3%
Q4 24	+44.2%	+28.5%
Q1 25	+23.7%	+19.5%
Q3 25	+75.1%	+56.2%
Q4 25	-0.0%	+2.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$168M	15.0%
Q2 21	$54M	2.8%
Q3 21	$71M	4.1%
Q4 21	$93M	5.8%
Q1 22	$64M	4.6%
Q2 22	$59M	2.9%
Q3 22	$50M	3.4%
Q4 22	$61M	5.5%
Q1 23	$45M	4.7%
Q4 23	$0	0.0%
Q1 24	$33M	3.1%
Q2 24	$31M	1.8%
Q4 24	$31M	2.3%
Q1 25	$30M	2.2%
Q3 25	$60M	3.2%
Q4 25	$58M	3.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 21	$97M	$93M	$111M
Q2 21	$74M	$59M	$124M
Q3 21	$90M	$80M	$131M
Q4 21	$106M	$57M	$144M
Q1 22	$108M	$55M	$145M
Q2 22	$107M	$55M	$155M
Q3 22	$82M	$46M	$144M
Q4 22	$63M	$41M	$131M
Q1 23	$49M	$34M	$115M
Q4 23	$44M	$32M	$103M
Q1 24	$47M	$82M	$93M
Q2 24	$47M	$23M	$95M
Q4 24	$47M	$33M	$92M
Q1 25	$50M	$28M	$92M
Q3 25	$67M	$40M	$94M
Q4 25	$65M	$43M	$96M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 21	79.7%	-17.9%	61.8
Q2 21	186.1%	0.4%	186.5
Q3 21	46.7%	-4.8%	41.9
Q4 21	31.0%	-9.5%	21.6
Q1 22	25.4%	-11.9%	13.5
Q2 22	3.5%	-3.6%	-0.1
Q3 22	-14.3%	-8.7%	-23.0
Q4 22	-31.3%	-11.8%	-43.1
Q1 23	-31.5%	-12.6%	-44.1
Q4 23	-45.7%	-5.5%	-51.2
Q1 24	-29.4%	-10.5%	-39.9
Q2 24	53.6%	2.6%	56.2
Q4 24	44.2%	-1.4%	42.9
Q1 25	23.7%	-1.8%	21.9
Q3 25	75.1%	1.2%	76.3
Q4 25	-0.0%	-0.7%	-0.7

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$476M	$0	$476M
Q2 22	$431M	$0	$431M
Q3 22	$355M	$0	$355M
Q4 22	$362M	$0	$362M
Q1 23	$364M	$0	$364M
Q2 23	$335M	$0	$335M
Q3 23	$220M	$0	$220M
Q4 23	$167M	$0	$167M
Q1 24	$166M	$0	$166M
Q2 24	$186M	$0	$186M
Q3 24	$211M	$0	$211M
Q4 24	$224M	$0	$224M
Q1 25	$127M	$0	$127M
Q2 25	$177M	$0	$177M
Q3 25	$170M	$0	$170M
Q4 25	$199M	$0	$199M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	387M	+9.1%	+9.1%
Q2 21	378M	-2.4%	+6.5%
Q3 21	393M	+4.1%	+10.8%
Q4 21	404M	+2.8%	+13.9%
Q1 22	415M	+2.8%	+7.4%
Q2 22	428M	+3.0%	+13.3%
Q3 22	432M	+1.0%	+10.0%
Q4 22	437M	+1.0%	+8.1%
Q1 23	450M	+3.1%	+8.3%
Q4 23	484M	+7.5%	+13.0%
Q1 24	490M	+1.3%	+13.3%
Q2 24	510M	+4.1%	+16.8%
Q4 24	511M	+0.3%	+13.6%
Q1 25	550M	+7.6%	+13.7%
Q3 25	566M	+2.9%	+15.5%
Q4 25	572M	+1.1%	+12.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q4 21	$337.6K	5K
Q1 22	$292.6K	5K
Q2 22	$423.1K	5K
Q3 22	$312.8K	5K
Q4 22	$347.0K	3K
Q1 23	$300.0K	3K
Q4 23	$430.1K	3K
Q1 24	$413.5K	3K
Q2 24	$667.2K	3K
Q4 24	$538.0K	3K
Q1 25	$528.5K	3K
Q3 25	$719.4K	3K
Q4 25	$531.2K	3K

Revenue / Employee