Revenue: As of FY2026 Q1, the actual value is USD 2.704 B, beating the estimate of USD 2.667 B.EPS: As of FY2026 Q1, the actual value is USD 0.03.EBIT: As of FY2026 Q1, the actual value is USD -318 M.<h4>Financial Performance</h4><ul><li>Net Income: Compass, Inc. reported a GAAP Net Income of $22 million for Q1 2026, a significant improvement from a net loss of - $51 million in Q1 2025. This includes a non-cash tax benefit of $401 million and $183 million in merger transaction and integration expenses in Q1 2026. </li><li>Adjusted EBITDA: Adjusted EBITDA for Q1 2026 was $61 million, up from $16 million in Q1 2025. The Adjusted EBITDA in Q1 2026 excludes the $401 million non-cash tax benefit and $183 million in merger transaction and integration expenses. </li><li>Revenue: Total revenue in Q1 2026 increased by 99% year-over-year to $2.70 billion, compared to $1.36 billion in Q1 2025. Pro forma revenue increased by 7% year-over-year to $2.76 billion. </li><li>Operating Expenses: Total operating expenses for Q1 2026 were $3,055 million, compared to $1,410 million in Q1 2025. Key components include:<ul><li>Commissions and other related expenses: $2,008 million in Q1 2026, up from $1,105 million in Q1 2025. </li><li>Sales and marketing: $97 million in Q1 2026, up from $58 million in Q1 2025. </li><li>Operations and support: $398 million in Q1 2026, up from $132 million in Q1 2025. </li><li>Technology and development: $119 million in Q1 2026, up from $50 million in Q1 2025. </li><li>General and administrative: $81 million in Q1 2026, up from $27 million in Q1 2025. </li><li>Anywhere merger transaction and integration expenses: $183 million in Q1 2026. </li><li>Restructuring costs: $6 million in Q1 2026, down from $9 million in Q1 2025. </li><li>Depreciation and amortization: $163 million in Q1 2026, up from $29 million in Q1 2025. </li></ul></li></ul><h4>Cash Flow</h4><ul><li>Operating Cash Flow: Q1 2026 operating cash flow was - $157 million, compared to $23 million in Q1 2025. </li><li>Free Cash Flow: Q1 2026 free cash flow was - $168 million, compared to $19 million in Q1 2025. </li></ul><h4>Liquidity &amp; Capital Structure</h4><ul><li>At the end of Q1 2026, Compass, Inc. had a cash balance of $484 million and total long-term debt of $3.14 billion. </li></ul><h4>Segment Revenue (Q1 2026)</h4><ul><li>Brokerage: $2,467 million. </li><li>Franchise: $90 million. </li><li>Integrated Services: $147 million. </li></ul><h4>Operational Metrics</h4>Brokerage Segment:<ul><li>Gross Transaction Value (GTV): Brokerage GTV was $97.3 billion in Q1 2026, an 85.7% increase year-over-year from $52.4 billion in Q1 2025. Pro forma Brokerage GTV increased by 7.3% year-over-year to $98.7 billion from $92.0 billion in Q1 2025. </li><li>Transactions: Brokerage agents closed 99,504 transactions in Q1 2026, a 102.6% increase year-over-year from 49,121 in Q1 2025. Pro forma Brokerage transactions increased by 2.6% year-over-year to 101,147 from 98,582 in Q1 2025. </li><li>Total Agents: At the end of Q1 2026, total Brokerage agents were 84,187, compared to 36,990 at the end of Q4 2025. Pro forma agent retention rate in Q1 2026 was 94%, flat compared to Q4 2025. </li></ul>Franchise Segment:<ul><li>Gross Transaction Value (GTV): Franchise GTV was $76.9 billion in Q1 2026, a 1,131% increase year-over-year from $6.2 billion in Q1 2025. Pro forma Franchise GTV increased by 4.6% year-over-year to $80.7 billion from $77.1 billion in Q1 2025. </li><li>Transactions: The Franchise network closed 137,347 transactions in Q1 2026, a 2,145% increase year-over-year from 6,117 in Q1 2025. Pro forma franchise transactions increased by 0.1% year-over-year to 143,406 from 143,206 in Q1 2025. </li><li>Net Royalty Rate Per Side: Net royalty rate per side was $440 in Q1 2026, a 33% decrease year-over-year from $660 in Q1 2025. Pro forma net royalty per side decreased by 5.0% year-over-year to $438 from $461 in Q1 2025. </li></ul>Integrated Services Segment (Title and Escrow - T&amp;E):<ul><li>Total T&amp;E Transactions: 30,321 in Q1 2026, a 631% increase year-over-year from 4,150 in Q1 2025. Pro forma T&amp;E transactions increased by 13.2% year-over-year to 31,698 from 27,903 in Q1 2025. </li><li>Average Revenue Per Transaction (Pro forma): $3,514 in Q1 2026, up 1% year-over-year. </li><li>Purchase T&amp;E Transactions: 25,003 in Q1 2026, a 543% increase year-over-year from 3,887 in Q1 2025. Pro forma T&amp;E purchase transactions increased by 4% year-over-year to 26,171 from 25,236 in Q1 2025. </li><li>Refinance T&amp;E Transactions: 5,318 in Q1 2026, a 1,922% increase year-over-year from 263 in Q1 2025. Pro forma refinance transactions increased by 100% year-over-year to 5,527 from 2,767 in Q1 2025. </li></ul><h4>Outlook / Guidance</h4><ul><li>For Q2 2026, Compass, Inc. expects revenue between $4.0 billion to $4.2 billion and Adjusted EBITDA between $310 million to $350 million. </li><li>The company anticipates Non-GAAP OPEX of $2.70 billion to $2.75 billion for the full year 2026, including $130 million of realized OPEX synergies. </li><li>Compass, Inc. also expects to be free cash flow positive for the full year 2026. </li></ul>

Compass | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 2.704 B