COMP earnings analysis
What we found in COMP's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Compass, Inc. reported a strong Q1 2026, achieving $2.70 billion in revenue, marking a substantial 99.4% increase year-over-year driven by its merger with Anywhere Real Estate. Although the company incurred a net loss of $22 million, it remains optimistic about operational synergies and revenue growth moving forward, projecting Q2 2026 revenues between $4.0 billion and $4.2 billion.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Significant Revenue Growth
- Revenue increased to $2.70 billion, up 99.4% from $1.36 billion year-over-year.
- EPS Shows Improvement
- Reported an EPS loss of $0.23, a decline from a loss of $0.05 in the prior period.
- Strong Segment Performance
- Brokerage revenue rose by 85.8% to $2.47 billion, bolstered by transaction count growth.
- Increased Cash Reserves
- Cash and cash equivalents at $484 million, providing a strong liquidity position.
- Cost Synergies Target Increased
- Management raised cost synergy target from $250 million to $300 million following the merger.
- Free Cash Flow Recovery
- Free cash flow rose to $61 million compared to $16 million in the same period last year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- High Merger Costs
- Incurred $183 million in merger-related expenses in Q1 2026, which may affect future profitability.
- Negative Operating Cash Flow
- Reported negative operating cash flow of $157 million in Q1 2026.
- Increased Debt Load
- Debt increased significantly due to the merger, with total obligations totaling approximately $3.63 billion.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.234
- Segment
- Brokerage
- Segment
- Franchise
- Segment
- Integrated Services
What they said about what is next.
Management anticipates Q2 2026 revenue to be between $4.0 billion to $4.2 billion.
The filing reads better than the one before it.
What came before.
- 10-K · February 27, 2026
- Compass completed the Anywhere merger (closed Jan 9, 2026) and expanded to a global footprint (presence in every major U.S. city and ~120 countries), growing scale to a combined network of more than 340,000 real estate…
- 10-Q · May 9, 2025
- Compass reported Q1 2025 revenue of $1,356.2 million (up from $1,054.1 million in Q1 2024) and a net loss per share of $(0.09) compared with $(0.27) a year earlier. Operating loss narrowed to $(53.7) million and…
- 10-Q · November 1, 2024
- Compass, Inc. reported revenue of $1,494.0 million for Q3 2024, a 11.7% increase from $1,337.4 million in Q3 2023. However, the company recorded a net loss of $1.7 million, with EPS reported at $0.00, reflecting…
- 10-Q · August 2, 2024
- Compass reported revenue of $1,700.6 million for the quarter ended June 30, 2024, up from $1,494.0 million a year ago, and delivered positive operating income of $21.3 million and net income of $20.8 million (EPS…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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