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Dec 31, 2023
Compass Q4 2023 Earnings Report
Compass increased agent count and market share, while also reducing operating expenses.
Key Takeaways
Compass reported a 1% year-over-year revenue decrease to $1.1 billion in Q4 2023. The company grew agent count and market share year-over-year and quarter-over-quarter. They anticipate being free cash flow positive for the full year 2024.
Revenue decreased by 1% year-over-year to $1.1 billion.
GAAP Net loss improved by 47% to $83.7 million.
Adjusted EBITDA improved by 69% to ($23.7) million.
National market share increased to 4.41%.
Compass
Compass
Forward Guidance
Compass anticipates Q1 2024 revenue between $975 million and $1,075 million and adjusted EBITDA between negative $22 million and negative $40 million. For FY 2024, they expect non-GAAP OPEX of $855 million - $875 million and to be free cash flow positive.
Positive Outlook
- Revenue of $975 million to $1,075 million (Q1 2024)
- Adjusted EBITDA of negative $22 million to negative $40 million (Q1 2024)
- Non-GAAP OPEX of $855 million - $875 million (FY 2024)
- Expects to be free cash flow positive for full year 2024