Compass, Inc. (COMP) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.555 Hello, everyone. Thank you for joining us and welcome to the Compass Inc. 00:00:04.555 -- 00:00:09.580 2025 Q4 earnings call. After today's prepared remarks, we 00:00:09.580 -- 00:00:12.363 will host a question and answer session. 00:00:12.363 -- 00:00:17.828 If you would like to ask a question, please press star 1 on your telephone keypad. 00:00:17.828 -- 00:00:20.591 To withdraw your question, press star 1 again. 00:00:20.591 -- 00:00:26.657 I would now like to turn our call over to Soham Bonslay, Head of Investor Relations. 00:00:26.657 -- 00:00:28.759 Please go ahead. 00:00:28.759 -- 00:00:31.592 Thank you very much, Operator. And good afternoon, everybody. 00:00:31.592 -- 00:00:37.099 And thank you for joining the Compass fourth quarter 2025 earnings call. 00:00:37.099 -- 00:00:42.244 Joining us today will be Robert Refkin, our founder and CEO, and Scott Wallers, our chief 00:00:42.244 -- 00:00:44.387 financial officer. 00:00:44.387 -- 00:00:48.511 In discussing our company's performance, we will refer to some non-GAAP measures. 00:00:48.511 -- 00:00:52.516 You can find the reconciliation of these non-GAAP measures to the most directly comparable 00:00:52.516 -- 00:00:57.542 GAAP measures in our fourth quarter 2025 earnings release posted on our 00:00:57.542 -- 00:00:59.819 investor relations website. 00:00:59.819 -- 00:01:05.588 Any discussion regarding organic revenue, organic op-ex, organic transactions, 00:01:05.588 -- 00:01:10.837 or organic GTV excludes activity from businesses we acquired since 00:01:10.837 -- 00:01:14.199 October 1, 2024. We 00:01:14.403 -- 00:01:19.631 will make forward-looking statements that are based on our current expectations, forecasts, 00:01:19.631 -- 00:01:24.018 and assumptions and involve ri...