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Compass, Inc. [COMP] reports annual net loss of $320,100,000.0
By USInMinutes - Feb 29, 2024, 05:58 AM ET
Last Updated - May 08, 2024, 08:32 AM EDT
Company Reports Revenue of $4.9 billion Compass, Inc. [COMP] has reported a net loss of $320,100,000.0 for year ended Dec 31, 2023. The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $4.9 billion Based in NEW YORK, New York, Compass, Inc. operates in the SERVICES sector. The Consolidated Statements of Operations for Compass, Inc. shows a significant decline in financial performance for the year ended December 31, 2023, compared to the previous years
Compass, Inc. [COMP] has reported a net loss of $320,100,000.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $4.9 billion
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Based in NEW YORK, New York, Compass, Inc. operates in the SERVICES sector.
The Consolidated Statements of Operations for Compass, Inc. shows a significant decline in financial performance for the year ended December 31, 2023, compared to the previous years.
Revenue for the current reporting period was $4.885 billion, down from $6.018 billion in 2022 and $6.421 billion in 2021. This represents a decrease in revenue year-over-year.
Operating expenses also decreased from $6.607 billion in 2022 to $5.199 billion in 2023. The cost of goods sold or operating income decreased, resulting in a loss from operations amounting to $(314.9) million, an improvement from the previous year's loss of $(589.4) million.
Net income for the current period showed a net loss of $(320.1) million, compared to $(601.5) million in 2022 and $(494.1) million in 2021. This indicates a decrease in the net loss, albeit still negative.
For basic and diluted earnings per share, there was a decrease from $(1.40) in 2022 to $(0.69) in 2023. The weighted-average shares used in computing the earnings per share increased from 428,169,180 in 2022 to 466,522,935 in 2023.
In summary, Compass, Inc. experienced a decline in revenue, operating expenses, and net income for the year ended December 31, 2023, compared to the previous years. Earnings per share also saw a decrease, although the weighted-average shares used in the calculation increased.
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