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Sep 30, 2023
Compass Q3 2023 Earnings Report
Compass achieved positive free cash flow and increased market share in Q3 2023.
Key Takeaways
Compass, Inc. reported a 10% decrease in revenue year-over-year to $1.34 billion for Q3 2023, while achieving positive free cash flow of $12 million. The company's national market share increased by 26 basis points year-over-year to 4.4%. Compass is targeting $850 million annualized non-GAAP operating expense for 2024.
Revenue decreased by 10% year-over-year to $1.34 billion.
GAAP Net loss was $39 million, an improvement of 74% from Q3 2022.
Free cash flow was $12 million in Q3 2023.
National market share increased to 4.4%, up 26 basis points year-over-year.
Forward Guidance
Compass expects revenue between $1.1 billion and $1.2 billion and Adjusted EBITDA between negative $35 million and negative $20 million for Q4 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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