Record-Breaking Quarterly Results
Compass delivered the strongest quarterly results in its history with all-time high records in revenue, adjusted EBITDA, GAAP net income, and free cash flow. Revenue increased by 21.1% year-over-year, reaching $2.06 billion.
Significant Market Share Gains
Compass increased its market share to an all-time high of 6.09%, a 96 basis point increase from the previous year. Total transactions grew by 20.9%, significantly outpacing the overall market's decline of 0.9%.
Successful Agent Recruitment and Retention
Compass achieved its best organic principal agent recruiting quarter in history with 832 principal agents recruited, up 53% year-over-year. Principal agent retention improved to 97.5%.
Title and Escrow Business Expansion
Compass achieved record quarterly revenue and attach rates in its Title and Escrow business, with attach rates up close to 700 basis points year-over-year. The business entered the New York market and is expected to be present in 70% of Compass markets by year-end.
Operational Efficiency and Cost Control
Compass delivered over $600 million in OpEx savings over the last 3 years. A new program is underway to drive $50 million to $75 million of incremental adjusted EBITDA, focusing on cost efficiencies and offsetting inflationary pressures.