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10-Q Filing

Compass, Inc. CIK: 1563190 Q2 2022
Filing Information
Form Type 10-Q
Accession Number 0001563190-22-000017
Period End Date 20220331
Filing Date 20220513
Fiscal Year 2022
Fiscal Period Q2
XBRL Instance comp-20220331_htm.xml
Filing Contents
Balance Sheet 70 line items
Line Item Tag Value Unit Period
Allowance for credit loss on accounts receivable current AllowanceForDoubtfulAccountsReceivableCurrent $7.10M USD Point-in-time
Allowance for credit loss on accounts receivable current AllowanceForDoubtfulAccountsReceivableCurrent $7.20M USD Point-in-time
Allowance for credit loss on financing receivable current AllowanceForNotesAndLoansReceivableCurrent $17.30M USD Point-in-time
Allowance for credit loss on financing receivable current AllowanceForNotesAndLoansReceivableCurrent $16.10M USD Point-in-time
Common stock par or stated value per share (in dollars per share) CommonStockParOrStatedValuePerShare - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $618.30M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $475.90M USD Point-in-time
Common stock par or stated value per share (in dollars per share) CommonStockParOrStatedValuePerShare - USD Point-in-time
Accounts receivable, net of allowance of $7.2 and $7.1, respectively AccountsReceivableNetCurrent $66.40M USD Point-in-time
Common stock shares authorized (in shares) CommonStockSharesAuthorized 13.85B shares Point-in-time
Common stock shares authorized (in shares) CommonStockSharesAuthorized 13.85B shares Point-in-time
Accounts receivable, net of allowance of $7.2 and $7.1, respectively AccountsReceivableNetCurrent $48.50M USD Point-in-time
Compass Concierge receivables, net of allowance of $16.1 and $17.3, respectively NotesAndLoansReceivableNetCurrent $47.00M USD Point-in-time
Compass Concierge receivables, net of allowance of $16.1 and $17.3, respectively NotesAndLoansReceivableNetCurrent $32.90M USD Point-in-time
Common stock shares issued (in shares) CommonStockSharesIssued 409.27M shares Point-in-time
Common stock shares issued (in shares) CommonStockSharesIssued 426.97M shares Point-in-time
Common stock shares outstanding (in shares) CommonStockSharesOutstanding 409.27M shares Point-in-time
Common stock shares outstanding (in shares) CommonStockSharesOutstanding 426.97M shares Point-in-time
Other current assets OtherAssetsCurrent $104.60M USD Point-in-time
Other current assets OtherAssetsCurrent $94.90M USD Point-in-time
Total current assets AssetsCurrent $794.60M USD Point-in-time
Total current assets AssetsCurrent $693.90M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $157.40M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $173.00M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $484.70M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $498.00M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $127.20M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $119.50M USD Point-in-time
Goodwill Goodwill $189.40M USD Point-in-time
Goodwill Goodwill $188.30M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $52.70M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $48.40M USD Point-in-time
Total assets Assets $1.73B USD Point-in-time
Total assets Assets $1.80B USD Point-in-time
Accounts payable AccountsPayableCurrent $34.60M USD Point-in-time
Accounts payable AccountsPayableCurrent $36.70M USD Point-in-time
Commissions payable AccruedSalesCommissionCurrent $63.90M USD Point-in-time
Commissions payable AccruedSalesCommissionCurrent $79.10M USD Point-in-time
Accrued expenses and other current liabilities OtherAccruedLiabilitiesCurrent $171.30M USD Point-in-time
Accrued expenses and other current liabilities OtherAccruedLiabilitiesCurrent $240.90M USD Point-in-time
Current lease liabilities OperatingLeaseLiabilityCurrent $81.50M USD Point-in-time
Current lease liabilities OperatingLeaseLiabilityCurrent $97.80M USD Point-in-time
Concierge credit facility LinesOfCreditCurrent $18.30M USD Point-in-time
Concierge credit facility LinesOfCreditCurrent $16.20M USD Point-in-time
Total current liabilities LiabilitiesCurrent $437.10M USD Point-in-time
Total current liabilities LiabilitiesCurrent $403.20M USD Point-in-time
Non-current lease liabilities OperatingLeaseLiabilityNoncurrent $497.60M USD Point-in-time
Non-current lease liabilities OperatingLeaseLiabilityNoncurrent $483.00M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $32.90M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $20.20M USD Point-in-time
Total liabilities Liabilities $921.00M USD Point-in-time
Total liabilities Liabilities $953.00M USD Point-in-time
Commitments and contingencies (Note 6) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 6) CommitmentsAndContingencies - USD Point-in-time
#REF! CommonStockValue - USD Point-in-time
#REF! CommonStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.58B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.44B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.78B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.59B USD Point-in-time
Total Compass, Inc. stockholders equity StockholdersEquity $802.00M USD Point-in-time
Total Compass, Inc. stockholders equity StockholdersEquity $843.80M USD Point-in-time
Non-controlling interest MinorityInterest $3.80M USD Point-in-time
Non-controlling interest MinorityInterest $3.50M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $805.50M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-827.30M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $847.60M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-862.90M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.80B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.73B USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Revenue Revenues $1.11B USD 1 Quarter
Revenue Revenues $1.40B USD 1 Quarter
Commissions and other related expense SalesCommissionsAndFees $942.20M USD 1 Quarter
Commissions and other related expense SalesCommissionsAndFees $1.15B USD 1 Quarter
Sales and marketing OtherSellingAndMarketingExpense $145.00M USD 1 Quarter
Sales and marketing OtherSellingAndMarketingExpense $111.30M USD 1 Quarter
Operations and support OtherCostAndExpenseOperating $70.00M USD 1 Quarter
Operations and support OtherCostAndExpenseOperating $108.90M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $96.60M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $108.20M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $92.90M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $55.30M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $18.70M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $13.50M USD 1 Quarter
Total operating expenses OperatingExpenses $1.33B USD 1 Quarter
Total operating expenses OperatingExpenses $1.58B USD 1 Quarter
Loss from operations OperatingIncomeLoss $-185.50M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-212.60M USD 1 Quarter
Investment income, net InvestmentIncomeNonoperating - USD 1 Quarter
Investment income, net InvestmentIncomeNonoperating $100.00K USD 1 Quarter
Interest expense InterestExpense $700.00K USD 1 Quarter
Interest expense InterestExpense $500.00K USD 1 Quarter
Loss before income taxes and equity in loss of unconsolidated entity IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-186.10M USD 1 Quarter
Loss before income taxes and equity in loss of unconsolidated entity IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-213.10M USD 1 Quarter
Income tax (expense) benefit IncomeTaxExpenseBenefit $-700.00K USD 1 Quarter
Income tax (expense) benefit IncomeTaxExpenseBenefit $100.00K USD 1 Quarter
Equity in loss of unconsolidated entity IncomeLossFromEquityMethodInvestments $-2.10M USD 1 Quarter
Equity in loss of unconsolidated entity IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Net loss ProfitLoss $-188.30M USD 1 Quarter
Net loss ProfitLoss $-212.40M USD 1 Quarter
Net loss attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $-300.00K USD 1 Quarter
Net loss attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net loss attributable to Compass, Inc. NetIncomeLoss $-188.00M USD 1 Quarter
Net loss attributable to Compass, Inc. NetIncomeLoss $-212.40M USD 1 Quarter
Net loss per share attributable to Compass, Inc., basic (in dollars per share) EarningsPerShareBasic $-0.45 USD 1 Quarter
Net loss per share attributable to Compass, Inc., basic (in dollars per share) EarningsPerShareBasic $-1.67 USD 1 Quarter
Net loss per share attributable to Compass, Inc., diluted (in dollars per share) EarningsPerShareDiluted $-0.45 USD 1 Quarter
Net loss per share attributable to Compass, Inc., diluted (in dollars per share) EarningsPerShareDiluted $-1.67 USD 1 Quarter
Weighted-average shares used in computing net loss per share attributable to Compass, Inc., basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 126.92M shares 1 Quarter
Weighted-average shares used in computing net loss per share attributable to Compass, Inc., basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 415.38M shares 1 Quarter
Weighted-average shares used in computing net loss per share attributable to Compass, Inc., diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 126.92M shares 1 Quarter
Weighted-average shares used in computing net loss per share attributable to Compass, Inc., diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 415.38M shares 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-188.30M USD 1 Quarter
Net loss ProfitLoss $-212.40M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $13.50M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $18.70M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $63.80M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $167.50M USD 1 Quarter
Equity in loss of unconsolidated entity IncomeLossFromEquityMethodInvestments $-2.10M USD 1 Quarter
Equity in loss of unconsolidated entity IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Change in acquisition related contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-3.20M USD 1 Quarter
Change in acquisition related contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $400.00K USD 1 Quarter
Bad debt expense BadDebtExpense $1.50M USD 1 Quarter
Bad debt expense BadDebtExpense $3.00M USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts $300.00K USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts $300.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $2.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $18.60M USD 1 Quarter
Compass Concierge receivables IncreaseDecreaseInFinanceReceivables $14.80M USD 1 Quarter
Compass Concierge receivables IncreaseDecreaseInFinanceReceivables $700.00K USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $10.70M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $9.90M USD 1 Quarter
Other non-current assets IncreaseDecreaseInOtherNoncurrentAssets $7.40M USD 1 Quarter
Other non-current assets IncreaseDecreaseInOtherNoncurrentAssets $1.50M USD 1 Quarter
Operating lease right-of-use assets and operating lease liabilities IncreaseDecreaseInOperatingLeaseRightOfUseAssetsNetOfOperatingLeaseLiabilities $-1.10M USD 1 Quarter
Operating lease right-of-use assets and operating lease liabilities IncreaseDecreaseInOperatingLeaseRightOfUseAssetsNetOfOperatingLeaseLiabilities $-11.60M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-3.90M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $3.30M USD 1 Quarter
Commissions payable IncreaseDecreaseInCommissionPayable $-7.90M USD 1 Quarter
Commissions payable IncreaseDecreaseInCommissionPayable $15.20M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInOtherAccruedLiabilities $5.20M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInOtherAccruedLiabilities $15.50M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-47.30M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-111.00M USD 1 Quarter
Investment in unconsolidated entity PaymentsToAcquireInterestInSubsidiariesAndAffiliates $5.00M USD 1 Quarter
Investment in unconsolidated entity PaymentsToAcquireInterestInSubsidiariesAndAffiliates - USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $10.00M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $20.80M USD 1 Quarter
Payments for acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $3.80M USD 1 Quarter
Payments for acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $59.20M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-69.20M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-29.60M USD 1 Quarter
Proceeds from exercise and early exercise of stock options ProceedsFromStockOptionsExercised $5.50M USD 1 Quarter
Proceeds from exercise and early exercise of stock options ProceedsFromStockOptionsExercised $14.40M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation - USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $7.40M USD 1 Quarter
Proceeds from drawdowns on Concierge credit facility ProceedsFromLinesOfCredit $9.20M USD 1 Quarter
Proceeds from drawdowns on Concierge credit facility ProceedsFromLinesOfCredit $6.30M USD 1 Quarter
Repayments of drawdowns on Concierge credit facility RepaymentsOfLinesOfCredit $7.10M USD 1 Quarter
Repayments of drawdowns on Concierge credit facility RepaymentsOfLinesOfCredit $4.50M USD 1 Quarter
Payments of contingent consideration related to acquisitions PaymentForContingentConsiderationLiabilityFinancingActivities $2.00M USD 1 Quarter
Payments of contingent consideration related to acquisitions PaymentForContingentConsiderationLiabilityFinancingActivities $6.30M USD 1 Quarter
Payments of debt issuance costs for credit facilities PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Payments of debt issuance costs for credit facilities PaymentsOfDebtIssuanceCosts $1.40M USD 1 Quarter
Payments of deferred offering costs PaymentsOfStockIssuanceCosts - USD 1 Quarter
Payments of deferred offering costs PaymentsOfStockIssuanceCosts $2.50M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-1.80M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $6.00M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-110.50M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-142.40M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $475.90M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $440.10M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $329.60M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $618.30M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $475.90M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $440.10M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $329.60M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $618.30M USD Point-in-time
Cash paid for interest InterestPaidNet $400.00K USD 1 Quarter
Cash paid for interest InterestPaidNet $100.00K USD 1 Quarter
Issuance of common stock for acquisitions StockIssued1 $4.30M USD 1 Quarter
Issuance of common stock for acquisitions StockIssued1 - USD 1 Quarter
Conversion of Series D convertible preferred stock ConversionOfStockAmountIssued1 $67.60M USD 1 Quarter
Conversion of Series D convertible preferred stock ConversionOfStockAmountIssued1 - USD 1 Quarter
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $805.50M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-827.30M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $847.60M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-862.90M USD Point-in-time
Net loss NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest $-212.40M USD 1 Quarter
Net loss NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest $-188.30M USD 1 Quarter
Issuance of common stock upon exercise of stock options (in shares) StockIssuedDuringPeriodSharesStockOptionsExercised 2.59M shares 1 Quarter
Issuance of common stock upon exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $9.90M USD 1 Quarter
Issuance of common stock upon exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $5.50M USD 1 Quarter
Issuance of shares in connection with acquisitions StockIssuedDuringPeriodValueAcquisitions $4.30M USD 1 Quarter
Issuance of common stock upon settlement of RSUs, net of taxes withheld RestrictedStockValueSharesIssuedNetOfTaxWithholdings $-7.40M USD 1 Quarter
Conversion of Series D convertible preferred stock StockIssuedDuringPeriodValueConversionOfConvertibleSecurities $67.60M USD 1 Quarter
Vesting of early exercised stock options AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $1.20M USD 1 Quarter
Vesting of early exercised stock options AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $1.10M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $47.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $165.00M USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $805.50M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-827.30M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $847.60M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-862.90M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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