COMP
Compass, Inc.10.88
+0.54+5.22%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Integration timelines, referral program detailed
Q&A surfaced execution details on Anywhere integration, with Compass platform rollout to owned brokerages in July, franchises in January, and Coming Soons/Private Exclusives option by late next month—95%+ syndicating to Redfin. Robert unveiled a new listing agent referral program featuring flexible buyer inquiry routing and 10% fees kicked back to listers. The Rocket Redfin alliance is exclusive, positioning Rocket as digital mortgage partner alongside Guaranteed Rate. Scott flagged gross margin expansion from franchise/title mix and 70-80% normalized FCF conversion. No walk-backs; responses doubled down on eroding MLS/Zillow restrictions via partnership advocacy. Platform adoption accelerates.
Key Stats
Market Cap
6.12BP/E (TTM)
-Basic EPS (TTM)
-0.11Dividend Yield
0%Recent Filings
10-K
FY2025 results
Compass delivered FY2025 revenue of $6.96B, up 23.7% y/y, driven by 21,190 principal agents (up 19.4%) and 250,360 total transactions (up 22.1%), with gross transaction value hitting $267B. Q4 accelerated momentum, contributing strongly to the annual topline amid a challenging residential market. Commissions expense dipped to 81.6% of revenue from 82.3%, reflecting favorable agent splits from acquisitions. Adjusted EBITDA surged to $293M (4.2% margin), up from $126M (2.2%). Cash from operations hit $217M. Post-year Anywhere merger adds franchise scale and debt; integration risks loom.
8-K
Record Q4 revenue, Anywhere closed
8-K
Gustavson named CAO
Compass appointed Timothy B. Gustavson as Chief Accounting Officer effective March 2, 2026, following Anywhere Real Estate's acquisition on January 9, 2026. The 57-year-old CPA previously led accounting at Anywhere since 2015, with 16 years at KPMG. No new compensation or related transactions. CFO Wahlers stays on.
8-K
Compass acquires Anywhere, issues notes
Compass completed its all-stock acquisition of Anywhere Real Estate on January 9, 2026, via merger, converting Anywhere shares at 1.436 Compass shares each. To finance, it issued $1,000.0 million 0.25% convertible senior notes due 2031 at ~$15.98 conversion price, using proceeds to repay Anywhere debt while entering capped calls at $23.68 cap. Merger closed seamlessly. Notes rank senior unsecured.
8-K
Compass prices $850M notes
Compass priced $850M of 0.25% convertible senior notes due 2031, upsized $100M from prior plans, with a $150M overallotment option. Proceeds target general corporate uses, including Anywhere merger debt repayment if completed. Conversion starts at $15.98/share, 35% premium. Capped calls cap at $23.68.
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