Compass, Inc. Reports Record Third Quarter 2026 Results
Key Highlights
- ➤Q3 revenue $3.90B, up 11.6% pro forma year-over-year
- ➤Adjusted EBITDA $306M, surpassing guidance high-end
- ➤GAAP net income $62M versus $4M loss year-ago
- ➤Operating cash flow $248M; cash balance reaches $841M
- ➤Q4 revenue outlook $3.15B-$3.35B; Adjusted EBITDA $100M-$130M
Expert Statements
Robert Reffkin, Founder and Chief Executive Officer of Compass
“In a housing market where transactions were down year-over-year, Compass delivered record financial and operational results in Q3.”
Robert Reffkin, Founder and Chief Executive Officer of Compass
“Adjusted EBITDA(2) surpassed the high-end of our guidance range driven by solid OPEX(2) discipline and ongoing cost synergy realization, while organic(3) Brokerage GTV outperformed the market by 680 basis points on a pro forma(1) basis.”
Robert Reffkin, Founder and Chief Executive Officer of Compass
“Organic(3) Brokerage transactions also outperformed the market by approximately 150 basis points in the quarter.”
Robert Reffkin, Founder and Chief Executive Officer of Compass
“Across our entire history as a public company, spanning 22 consecutive quarters, the Compass standalone brand has outperformed the market - and now we have done so for three consecutive quarters including Anywhere.”
Robert Reffkin, Founder and Chief Executive Officer of Compass
“Looking ahead, while the housing market has softened over the past few weeks, I believe Compass is positioned to do very well in the current environment.”
Robert Reffkin, Founder and Chief Executive Officer of Compass
“I believe our track record of prudently managing OPEX(2) and ongoing cost synergy realization positions the company to generate significant free cash flow(2).”
Robert Reffkin, Founder and Chief Executive Officer of Compass
“This financial strength will allow us to delever the balance sheet while continuing to invest in our agents and platform as the industry pulls back.”
Scott Wahlers, Chief Financial Officer of Compass
“We are pleased with the results we delivered in a challenging environment with Q3 Revenue of $3.9 billion, GAAP Net income of $62 million and Adjusted EBITDA(2) of $306 million, each reflecting all-time records for any third quarter in our history.”
Scott Wahlers, Chief Financial Officer of Compass
“Our Q3 results also demonstrate the cash flow generative nature of our business.”
Scott Wahlers, Chief Financial Officer of Compass
“In a quarter where industry transactions were down year-over-year, we generated $248 million in operating cash flow and $240 million in free cash flow(2).”
Scott Wahlers, Chief Financial Officer of Compass
“We ended the quarter with $841 million in cash and no balance on our revolver.”
Scott Wahlers, Chief Financial Officer of Compass
“At the end of Q3, Net Debt(2) to Adjusted EBITDA was 2.7x which is nearly two turns below the 4.4x when we first announced the Anywhere transaction.”
Scott Wahlers, Chief Financial Officer of Compass
“Additionally, given the healthy cash balance at the end of Q3, we remain in a good position to redeem our $500 million 9.75% Notes when they are first callable in Q2 of 2027.”
Compass, Inc. Reports Record Third Quarter 2026 Results PR Newswire
All-time Q3 Records for Revenue, Net Income, Adjusted EBITDA and Operating Cash Flow
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