Compass, Inc.

Listed Company

COMPCIK 0001563190NYSELarge AcceleratedReal Estate Agents & Managers (For Others)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$6.96B

Net Income

$-58.50M

Total Assets

$1.54B

Equity

$782.00M

Shares Out

742.27M

Op. Cash Flow

$216.70M

Business

Compass, Inc. is a tech-enabled real estate services company that operates the largest U.S. real estate brokerage by sales volume and a global affiliate network. It offers brokerage services, integrated title, escrow and mortgage services, client financing programs, and proprietary technology platforms for agents and consumers. The company operates two primary business lines: an owned-brokerage under the Compass brand with technology-driven agent services and an affiliate/franchise business under the Christie’s International Real Estate brand. Its operations span across the United States and, through affiliates, in over 50 countries and territories.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	6,962	5,629	4,885	6,018	6,421
Commissions and other related expense	5,680	4,635	4,007	4,936	5,311
Sales and marketing	378	369	435	575	510
Operations and support	429	335	327	392	375
Research and development	246	189	185	360	365
General and administrative	144	165	126	208	289
Anywhere merger transaction and integration expenses	18	0	0	—	—
Restructuring costs	17	10	30	49	0
Depreciation and amortization	113	82	90	86	64
Total operating expenses	7,025	5,784	5,200	6,607	6,914
Loss from operations	−63	−155	−315	−589	−493
Investment income, net	6	7	9	3	100,000
Interest expense	−9	−6	−11	−4	—
Loss before income taxes and equity in income (loss) of unconsolidated entities	−67	−154	−317	−590	−495
Benefit from income taxes	1	500,000	400,000	900,000	3
Equity in income (loss) of unconsolidated entities	7	−600,000	−3	−12	−1
Net loss	−59	−155	−320	−602	−494
Net loss (income) attributable to non-controlling interests	200,000	100,000	−1	0	0
Net loss attributable to Compass, Inc.	−59	−154	−321	−602	−494
Net loss per share attributable to Compass, Inc., basic (in dollars per share)	−0.1	−0.31	−0.69	−1.4	−1.51
Net loss per share attributable to Compass, Inc., diluted (in dollars per share)	−0.1	−0.31	−0.69	−1.4	−1.51
Weighted-average shares used in computing net loss per share attributable to Compass, Inc., basic (in shares)	562	502	467	428	326
Weighted-average shares used in computing net loss per share attributable to Compass, Inc., diluted (in shares)	562	502	467	428	326

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	199	224	167	362	618
Accounts receivable, net of allowance of $3.5 and $4.4, respectively	57	49	37	37	49
Compass Concierge receivables, net of allowance of $9.7 and $10.4, respectively	25	24	24	43	33
Other current assets	36	33	55	77	95
Total current assets	317	330	282	518	795
Property and equipment, net	114	126	152	193	157
Operating lease right-of-use assets	381	390	409	483	485
Intangible assets, net	193	74	78	99	127
Goodwill	479	234	210	198	188
Other non-current assets	55	25	31	42	48
Total assets	1,540	1,178	1,160	1,533	1,801
Accounts payable	13	13	18	28	35
Commissions payable	95	83	60	48	64
Accrued expenses and other current liabilities	138	140	91	165	241
Current lease liabilities	99	94	99	95	82
Total current liabilities	367	353	293	518	437
Non-current lease liabilities	354	381	410	487	483
Other non-current liabilities	31	32	26	8	33
Total liabilities	752	766	728	1,012	953
Commitments and contingencies (Note 11)	—	—	—	—	—
Common stock, $0.00001 par value, 13,850,000,000 shares authorized at December 31, 2025 and 2024; 563,479,423 and 513,143,108 shares issued and outstanding at December 31, 2025 and 2024, respectively	0	0	0	0	0
Additional paid-in capital	3,513	3,082	2,947	2,714	2,439
Accumulated deficit	−2,731	−2,672	−2,518	−2,197	−1,595
Total Compass, Inc. stockholders equity	782	409	429	517	844
Non-controlling interest	5	3	3	4	4
Total stockholders equity	787	412	432	521	848
Total liabilities and stockholders equity	1,540	1,178	1,160	1,533	1,801

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	113	82	90	86	64
Stock-based compensation	203	128	158	235	386
Change in acquisition-related contingent consideration	−200,000	6	3	−2	−5
Bad debt expense	−600,000	−2	4	7	9
Amortization of debt issuance costs	1	700,000	700,000	900,000	1
Accounts receivable	7	−8	−4	7	9
Compass Concierge receivables	−1	−800,000	18	−12	9
Other current assets	2	21	21	18	−40
Other non-current assets	−7	7	9	10	−12
Operating lease right-of-use assets and operating lease liabilities	−12	−17	−1	6	2
Accounts payable	−3	−6	−10	−5	−3
Commissions payable	5	23	12	−16	−300,000
Accrued expenses and other liabilities	−25	42	−11	−37	43
Net cash provided by (used in) operating activities	217	122	−26	−292	−29
Investment in unconsolidated entities	−4	−2	−1	−15	−5
Capital expenditures	−13	−16	−11	−70	−50
Payments for acquisitions, net of cash acquired	−174	−19	700,000	−15	−137
Net cash used in investing activities	−191	−37	−12	−100	−193
Proceeds from exercise of stock options	18	10	5	9	27
Proceeds from issuance of common stock under the Employee Stock Purchase Plan	3	2	3	2	0
Taxes paid related to net share settlement of equity awards	−61	−35	−24	−24	−62
Payments of issuance costs related to Credit Facilities	−4	0	0	—	−2
Proceeds from issuance of common stock in connection with the Strategic Transaction	0	0	32	0	0
Payments related to acquisitions, including contingent consideration	−7	−3	−15	−18	−11
Other	3	−100,000	−2	−600,000	−2
Net cash used in financing activities	−50	−28	−157	135	399
Net (decrease) increase in cash and cash equivalents	−25	57	−195	−256	178
Cash paid for interest	6	3	9	2	1
Issuance of common stock for acquisitions	264	27	18	4	10

Filings

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