NYSE$COMP
Compass Inc. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Compass exceeded expectations by growing revenue 10% year-over-year and significantly reducing non-GAAP operating expenses, generating positive free cash flow.
Compass reported a strong Q1 2024, exceeding expectations with a 10% year-over-year revenue increase to $1.05 billion and positive free cash flow of $5.9 million. The company also grew market share and agent count while reducing non-GAAP operating expenses.
- Revenue increased by 10% year-over-year to $1.05 billion.
- GAAP Net loss improved by $17.5 million from Q1 2023, totaling $132.9 million.
- Free cash flow was positive at $5.9 million, an improvement of $64.9 million year-over-year.
- Principal agent count increased by 7.3% year-over-year, adding 990 agents.
Headline financials
Revenue & EPS history
Compass · Revenue · Quarterly
$1.05B
Forward guidance
Compass provided Q2 2024 revenue guidance of $1.6 billion to $1.7 billion and adjusted EBITDA guidance of $55 million to $75 million. The company expects to be free cash flow positive for the full year 2024.
Tailwinds
- Revenue of $1.6 billion to $1.7 billion is expected for Q2 2024.
- Adjusted EBITDA of $55 million to $75 million is expected for Q2 2024.
- The company anticipates being free cash flow positive for the full year 2024.
- Non-GAAP OPEX is projected to be $867 million to $887 million for FY 2024, including the impact of the Latter & Blum acquisition.
- The company expects significant upside when the market begins to recover.
Headwinds
- The company's Q1 2024 GAAP net loss was $132.9 million.
- The net loss includes a $57.5 million expense for the proposed settlement of class action lawsuits.
- The net loss includes non-cash stock-based compensation expenses of $32.9 million.
- The net loss includes depreciation and amortization of $20.8 million.
- The company's adjusted EBITDA for Q1 2024 was still negative at ($20.1) million, although it improved significantly from the previous year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2024
+8.7%
Avg return
Earnings day
+6.9%
Avg return
5 days after
+4.2%
Avg return
30 days after
48%
10 / 21 earnings
Positive
+89.2%
Q3 2022
Best reaction
-18.8%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | -7.2% | — | |
| Q4 2025 | -2.7% | -5.1% | -29.2% | |
| Q3 2025 | +7.7% | +9.9% | +33.7% | |
| Q1 2025 | -18.8% | -18.0% | -18.6% | |
| Q4 2024 | +28.3% | +14.0% | +17.7% | |
| Q3 2024 | +17.6% | +23.3% | +31.3% | |
| Q2 2024 | -4.5% | -4.5% | +15.0% | |
| Q1 2024 | +19.4% | +21.2% | +5.9% | |
| Q4 2023 | +15.4% | +16.0% | +8.4% | |
| Q3 2023 | -5.5% | -10.5% | +21.5% | |
| Q2 2023 | -5.2% | -8.4% | -13.5% | |
| Q1 2023 | +43.2% | +38.6% | +39.0% | |
| Q4 2022 | -14.8% | -4.7% | -14.2% | |
| Q3 2022 | +89.2% | +84.9% | +38.9% | |
| Q2 2022 | -5.3% | -23.0% | -34.9% | |
| Q1 2022 | +29.5% | +27.3% | +26.8% | |
| Q4 2021 | +1.8% | -5.7% | -23.3% | |
| Q3 2021 | -8.7% | -10.9% | -17.7% | |
| Q2 2021 | +9.8% | +18.7% | +3.2% | |
| Q4 2020 | -2.1% | -1.7% | +0.6% | |
| Q1 2021 | -11.5% | -8.8% | -5.8% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — |
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