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EarningsQ2 2026 Earnings Report
COMP Q2 2026 EPS Results
Actual EPS$0.11
Consensus EPS$0.08
Beat/MissBeat by +$0.03
One Year Ago EPS$0.07
COMP Q2 2026 Revenue Results
Actual Revenue$4.31B
Expected Revenue$4.11B
Beat/MissBeat by +$193.17M
YoY Revenue Growth+109.07%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
COMP Upcoming Earnings
Compass's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
COMP Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive operating and financial update: record revenue and adjusted EBITDA, meaningful cash generation and rapid progress on cost synergies, strong outperformance versus the housing market (notably in luxury and the Bay Area), accelerating technology and AI adoption, and early benefits from the Rocket-Redfin partnership. Headwinds are manageable and mostly execution/timing-related — lower gross agent adds as the company trades for higher productivity, commission mix pressure (43 bps), a modest increase in full-year OpEx guidance, Q3 guidance that is seasonally lower than Q2, and debt call provisions that limit immediate gross-debt paydown. Overall, the highlights materially outweigh the lowlights given the size of the record metrics, cash flow improvement, and accelerated synergy realization.Company Guidance
Record Revenue and Adjusted EBITDA
Q2 revenue of $4.3 billion, up ~14% year-over-year (pro forma). Record adjusted EBITDA of $363 million (highest second-quarter on record and more than any full year previously).
Strong Cash Flow and Leverage Improvement
Free cash flow of $180 million in Q2; cash on hand increased by $210 million quarter-over-quarter to $694 million. Net debt / adjusted EBITDA improved to ~3.3x (trailing 12-month pro forma) from 4.2x in Q1, with company expecting net leverage to move into the 2s by year-end assuming consensus EBITDA and current cash balance.
Brokerage Outperformance vs. Market
Owned brokerage transactions up 7.4% year-over-year vs. market +3.5% (outperformance ~390 bps). Brokerage gross transaction value (GTV) up ~16% YoY vs. market +6% (outperformance ~1,000 bps versus market and acceleration vs. Q1).
Luxury & Bay Area Momentum
Company saw Bay Area revenue in Compass stand-alone brand up ~19% YoY in July and August (business-day adjusted). Average selling price appreciation of ~8% YoY to just over $1.0M; brokerage GTV of $155.2 billion in Q2 (+16% YoY) supported by strength in luxury markets.
Cost Synergies Ahead of Plan
Actioned $300 million of year-1 net cost synergies five months ahead of plan and now pacing to $330 million actioned by end of year. 2026 in-year realized net cost synergies expected to be $220 million (up from prior $200 million) with ~$150 million hitting the P&L (vs prior $130 million). Total target remains $500 million with potential to achieve sooner.
Technology Rollout and Agent Adoption
New home platform rolled out in pilot to >4,000 agents with an 82% CSAT score. By end of September, nearly 50,000 new agents in owned brokerage brands will have access, bringing the platform to over 80,000 agents (128,000 domestic franchise agents to begin onboarding in Q1 2027).
Rocket-Redfin Partnership and Consumer Traffic Lift
Since launch, Compass agents received >60,000 leads from Rocket-Redfin; Compass delivered >20,000 coming soon listings to Redfin. Chicago sessions on Compass.com were up 111% YoY, outpacing company average sessions growth of 34% YoY (77 percentage-point outperformance), demonstrating strong traffic uplift from Coming Soons.
Integrated Services & Mortgage Momentum
Integrated services revenue $211 million in Q2, up 7.7% YoY (title & escrow primary driver). Total T&E transactions +7.6% YoY (purchase +6%, refi +25%). Mortgage JVs more than doubled profitability YoY driven by volume growth and expense discipline.
AI Deployment and Early Savings
Started deploying forward-deployed engineers and AI workflows; identified roughly $8 million in savings/cost avoidance opportunities to date. Across the tech organization, 50–60% of all new code is now produced with AI assistance. Early agent-facing AI assistant showing ~2x engagement (tools called and conversations per agent) since demo day.
Improved GAAP Net Income and Segment EBITDA
GAAP net income of $92 million in Q2 versus $39 million prior year. Segment adjusted EBITDA: brokerage $377M, franchise $87M, integrated services $52M (consolidated adjusted EBITDA $363M after $153M unallocated corporate expenses).
COMP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed