Slide 1: Q3 2025 Business Update & Supplementary Information
Q3 2025 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: Compass Achieves Record Q3 Results
Compass Achieves Record Q3 Results Q3 2025 Q3 2025 Q3 2025 Q3 2025 Revenue Adjusted EBITDA (1) Adjusted EBITDA Margin (1) Free Cash Flow (1) $1,846.0M $93.6M 5.1% $73.6M +24% Y-o-Y +$41.6M Y-o-Y +159 BPS Y-o-Y +$40.8M Y-o-Y Q3 2025 Q3 2025 Q3 2025 Q3 2025 Operating Cash Flow Number of Principal Agen
Slide 4: Compass Continues to Deliver Significant Top-line Growth
Compass Continues to Deliver Significant Top-line Growth Total Revenue ($M) Gross Transaction Value ($B) 24% y-o-y growth 23% y-o-y growth $70.7 $1,846 $254.2 $6,421 $230.3 $6,018 $216.8 $57.7 $5,629 $1,494 $4,885 $186.1 2021 2022 2023 2024 Q3 24 Q3 25 2021 2022 2023 2024 Q3 24 Q3 25 Number of Princ
Slide 5: Guidance
Guidance Q4 2025 Revenue $1.590 - $1.690 billion Adjusted EBITDA $35 - $49 million Weighted-Average Share Count 571 - 574 million FY 2025 Non-GAAP Operating Expenses (1) $1.000 - $1.005 billion Free Cash Flow Positive (1) Non-GAAP OPEX of $1.000 billion to $1.005 billion reflects a reduction from th
Slide 6: Financial Tables
COMPASS Financial Tables
Slide 7: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (in millions, unaudited) September 30, 2025 December 31, 2024 Assets Current assets Cash and cash equivalents $ 170.3 $ 223.8 Accounts receivable, net of allowance 70.5 48.6 Compass Concierge receivables, net of allowance 35.5 24.4 Other current assets 37.0 33.2
Slide 8: Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations (in millions, except share and per share data, unaudited) Three Months Ended Nine Months Ended September 30, September 30, (1) Total stock-based compensation expense included in the condensed consolidated statements of operations is as 2025 2024 2025 2
Slide 9: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows (in millions, unaudited) Nine Months Ended September 30, 2025 2024 Operating Activities Net loss $ (16.2) $ (114.1) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 85.8 62.7 Stock-based comp
Slide 10: Net Loss to Adjusted EBITDA Reconciliation
Net Loss to Adjusted EBITDA Reconciliation (in millions, unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net loss attributable to Compass, Inc. $ (4.6) $ (1.7) $ (15.9) $ (113.9) Adjusted to exclude the following: Depreciation and amortization 27.6 20.
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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net cash provided by operating activities $ 75.5 $ 37.4 $ 171.4 $ 91.0 Less: Capital expenditures (1.9) (4.6) (10.3) (11.9) Free cash
Slide 12: Reconciliation of GAAP to Non-GAAP Operating Expenses
Reconciliation of GAAP to Non-GAAP Operating Expenses (in millions, unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 GAAP Sales and marketing $ 93.8 $ 88.2 $ 281.9 $ 276.5 Adjusted to exclude the following: Stock-based compensation (9.0) (7.8) (24.6) (2
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, June 30, September 30, 2024 2024 2024 2024 2025 2025 2025 Sales and marketing $ 85.5 $ 86.6 $ 80.4 $ 84.7 $ 84.9 $ 87.
Slide 14: Key Business Metrics and Non-GAAP Financial Measures
Key Business Metrics and Non-GAAP Financial Measures (unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Total Transactions (1) 67,886 55,872 190,032 154,711 Gross Transaction Value (in billions) $ 70.7 $ 57.7 $ 201.4 $ 162.8 Number of Principal Agents (2
Slide 15: Investor Contact
Investor Contact Soham Bhonsle Investorrelations@compass.com