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Reffkin added, "As we look ahead, we believe the housing market will remain challenged during 2023 before returning to stability and growth in the future. The Compass team remains laser focused on providing our agents with technology, workflow tools, and marketing support to be successful in the market. At the same time, we are driving to implement fundamental cost productivity measures that will deliver profitability in the future."

Compass, Inc. Reports Third Quarter 2022 Results

Compass, Inc. (NYSE: COMP), a leading tech-enabled real estate brokerage, today announced its financial results for the quarter ended September 30, 2022

By AP News
Published - Nov 10, 2022, 06:31 PM ET
Last Updated - Apr 24, 2024, 01:26 PM EDT
  • Total revenues of $1.49 billion, down 14% compared to 3Q21, driven principally by lower market volumes.
  • Successfully launched the Compass national agent platform in all markets allowing agents to guide their customers from first contact to close in one seamless workflow platform.
  • The Company incurred $29 million in restructuring charges, of which $25 million was for severance. GAAP Net Loss was $154 million, compared to a GAAP Net Loss of $100 million in 3Q21 as lower revenues and restructuring costs more than offset reductions in commissions and operating expenses.
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