Earnings Releases·Nov 5, 2026, 4:07 PM ET

Compass, Inc. — Third Quarter 2026 Earnings Summary

Q3 2026 GAAP net income reversed to a $62 million profit from a $4 million loss in Q3 2025, while Adjusted EBITDA reached a record $306 million, up from $94 million year-over-year.
Revenue surged 111% year-over-year to $3.90 billion, driven by the Anywhere acquisition, though organic revenue grew 7.4% on a pro forma basis; full-year 2026 is expected to be free cash flow positive.
Management lowered full-year 2026 Non-GAAP OPEX guidance to $2.71–$2.73 billion and set Q4 2026 revenue guidance at $3.15–$3.35 billion.
The company plans to redeem $500 million of 9.75% Notes in Q2 2027 and intends to retain earnings rather than pay dividends, while maintaining a Net Debt to Adjusted EBITDA ratio of 2.7x.
Compass outperformed the U.S. residential market for 22 consecutive quarters, with organic Brokerage GTV and transactions growing 7.5% and 0.3% respectively on a pro forma basis despite a softening housing market.