Slide 1: 1Q 2024 Business Update & Supplementary Information
1Q 2024 Business Update & Supplementary Information 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation includes forward-looking statements, which are statements other than statements of historical facts, and statements in the future tense. These statements include, but are not limited to, statements regarding our future performance, including expected financial
Slide 3: 1Q 2024 Highlights
1Q 2024 Highlights FINANCIAL(1) OPERATIONAL $1,054M | +10% 14,591 | +7% 1Q 2024 Revenue & Y-o-Y Change 1Q 2024 Number of Principal Agents & Y-o-Y Change(2) 18.2% | Declined 39 BPS 29,297 | +2% 1Q 2024 Revenue less Non-GAAP Commissions & 1Q 2024 Number of Agents & Y-o-Y Change(2) Other Related Expens
Slide 4: Compass Increases Revenue, Agent Count, Total Transactions & GTV in 1Q 2024
Compass Increases Revenue, Agent Count, Total Transactions & GTV in 1Q 2024 Total Revenue ($M) Gross Transaction Value ($B) 10% y-o-y increase 10% y-o-y increase $254.2 $6,421 $230.3 $6,018 $1,054 $186.1 $40.1 $4,885 $957 $36.6 $151.7 $3,721 2020 2021 2022 2023 1Q23 1Q24 2020 2021 2022 2023 1Q23 1Q2
Slide 5: Guidance
Guidance 2Q 2024 Revenue $1.6 - $1.7 billion Adjusted EBITDA $55 - $75 million Weighted-Average 496 - 499 million Share Count(1) (1) Weighted-average share count forecast excludes any potential share issuances for future mergers and acquisitions. FY 2024 Non-GAAP Operating $867 - $887 million Expens
Slide 6: Financial Tables
Effective July 1, 2023, pursuant to an amendment entered into on May 1, 2023 by and among the parties to the Revolving Credit Facility, the London Interbank Offered Rate (“LIBOR”) benchmark will be replaced with a new benchmark based on the Secured Overnight Financing Rate (“SOFR”). Financial Tables
Slide 7: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (in millions, unaudited) March 31, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 165.9 $ 166.9 Accounts receivable, net of allowance 48.7 36.6 Compass Concierge receivables, net of allowance 29.9 24.0 Other current assets 48.3 54.5 Tot
Slide 8: Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations (in millions, except share and per share data, unaudited) Three Months Ended March 31, 2024 2023 (1) Total stock-based compensation expense included in the condensed consolidated statements of operations is as follows (in millions): Revenue $ 1,054.1 $
Slide 9: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows (in millions, unaudited) Three Months Ended March 31, 2024 2023 Operating Activities Net loss $ (133.0) $ (150.2) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 20.8 24.9 Stock-ba
Slide 10: Net Loss to Adjusted EBITDA Reconciliation
Net Loss to Adjusted EBITDA Reconciliation (in millions, unaudited) Three Months Ended March 31, 2024 2023 Net loss attributable to Compass, Inc. $ (132.9) $ (150.4) Adjusted to exclude the following: Depreciation and amortization 20.8 24.9 Investment income, net (1.1) (2.9) Interest expense 1.5 3.2
Slide 11: Reconciliation of Operating Cash Flows to Free Cash Flow
Reconciliation of Operating Cash Flows to Free Cash Flow (in millions, unaudited) Three Months Ended March 31, 2024 2023 Net cash provided by (used in) operating activities $ 8.6 $ (55.5) Less: Capital expenditures (2.7) (3.5) Free cash flow $ 5.9 $ (59.0) 11
Slide 12: Reconciliation of GAAP to Non-GAAP Operating Expenses
Reconciliation of GAAP to Non-GAAP Operating Expenses (in millions, unaudited) Three Months Ended March 31, 2024 2023 GAAP Commissions and other related expense $ 862.3 $ 790.9 Adjusted to exclude the following: Stock-based compensation — (11.6) Non-GAAP Commissions and other related expense $ 862.3
Slide 13: Total Non-GAAP Operating Expenses Excluding Commissions and Other Related Expense
Total Non-GAAP Operating Expenses Excluding Commissions and Other Related Expense (in millions, unaudited) Three Months Ended March 31, June 30, September 30, December 31, March 31, 2023 2023 2023 2023 2024 Sales and marketing $ 106.7 $ 104.3 $ 95.1 $ 94.3 $ 85.5 Operations and support 75.0 79.8 78.
Slide 14: Key Business Metrics and Non-GAAP Financial Measures
Key Business Metrics and Non-GAAP Financial Measures (unaudited) Three Months Ended March 31, 2024 2023 Total Transactions(1) 38,449 35,886 Gross Transaction Value (in billions) $ 40.1 $ 36.6 Number of Principal Agents(2) 14,591 13,601 Net loss attributable to Compass, Inc. (in millions) $ (132.9) $
Slide 15: Investor Contact
Investor Contact Richard Simonelli 973-896-8184 richard.simonelli@compass.com