Compass Q4 2022 Earnings Report
Key Takeaways
Compass, Inc. reported a decrease in revenue by 31% year-over-year to $1.11 billion for Q4 2022. The GAAP Net Loss was $158 million, an improvement from a net loss of $175 million in 4Q21. The company's net cash and cash equivalents at the end of 4Q22 was $362 million, which includes a $150 million draw on the revolver.
Revenue decreased by 31% year-over-year to $1.11 billion as transactions declined 25%, which was attributable to lower industry wide transactions.
GAAP Net Loss was $158 million, an improvement from a net loss of $175 million in 4Q21.
Adjusted EBITDA was a loss of $75 million in 4Q22, compared to a loss of $51 million in 4Q21.
Compass’ net cash and cash equivalents at the end of 4Q22 was $362 million which includes a $150 million draw on the revolver.
Compass
Compass
Forward Guidance
Compass expects revenue of $850 million to $950 million and Adjusted EBITDA of negative $90 million to negative $70 million for 1Q23. For FY23, Compass projects a Non-GAAP Operating Expense range of $850-$950 million.