A number of brokerages and real estate tech companies continue rolling out their Q2 numbers, and we’re keep tabs on the big wins. Next up: Compass
The brokerage and real estate tech company posted a record quarter, with revenue increasing by 186 percent year-over-year to a $1.95 billion, as reported by Compass. Agents nearly doubled Compass’ market share from 3.3 percent to 6.2 percent over the last year.
Compared to the second quarter of 2020, which saw a net loss of $84 million, Compass posted a new loss of $7 million for April-June, 2021.
“This past quarter Compass agents strongly outperformed their peers in one of the most competitive real estate markets in recent memory, delivering nearly $2 billion of revenue and $71 million of Adjusted EBITDA as the Compass platform continued to drive growth in agent productivity,” said Robert Reffkin, Founder, Chairman, and CEO of Compass, Inc. “Compass has nearly doubled its share of the national residential real estate market over the past year, and this record quarter validates our vision that agents, when powered by the Compass technology platform, are significantly more successful.”
Compass added some 817 agents during Q2, bringing it’s talent pool to 10,629. Those agents closed a record 65,743 transactions, up 140 percent year-over-year.
Compass stock spiked Monday once the Q2 earnings were made public, trading at more than $16 before dipping to $15.28 per share when the markets closed. According to Inman, that’s up from recent days when shares were trading at less than $13, but down compared to April, when the company’s shares first debuted and went for more than $20.