Third quarter earnings reports are rolling out, and we’re covering all the major real estate and mortgage brands for you. Next up: Compass
In the latest earnings statement released just moments ago, Compass reported that the company saw a 47 percent revenue growth in the third quarter of the calendar year, amounting to $1.74 billion. Compass’ GAAP Net Loss was $100 million, compared to $14 million in the third quarter of 2020.
According to a company statement, it’s technology and services platform helped deliver 36 percent transaction growth compared to the prior year.
“For the third consecutive quarter as a public company, Compass agents outperformed in a highly competitive market delivering $69.1 billion in Gross Transaction Value, a 45 percent increase year over year, and revenue of $1.74 billion, up 47 percent year over year,” said Robert Reffkin, Founder, Chairman, and CEO of Compass. “The Compass platform, services and support continue to create business value and growth for our agents, who delivered a 36 percent increase in transactions, outperforming the industry where transactions decreased 1 percent during the same period.
“Our national market share was 5.4 percent in the quarter, up from 4.1 percent in the same quarter last year,” Reffkin added.”
Compass entered five new markets last quarter, bringing the total markets served to 67. The number of principal agents was 11,616 in Q3, an increase of 987 from last quarter.