Compass, Inc. (NYSE:COMP) Q1 2022 Earnings Conference Call May 12, 2022 5:00 PM ET

Company Participants

Rich Simonelli - Vice President of Investor Relations

Robert Reffkin - Founder, Chairman & Chief Executive Officer

Kristen Ankerbrandt - Chief Financial Officer

Conference Call Participants

Trevor Young - Barclays

Justin Ages - Berenberg Capital Markets

Ryan McKeveny - Zelman & Associates

Mike Ng - Goldman Sachs

Jason Helfstein - Oppenheimer

Operator

Ladies and gentlemen, thank you for standing by and welcome to the Compass Inc. First Quarter 2022 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

Rich Simonelli, Vice President of Investor Relations, you may begin your conference.

Rich Simonelli

Thank you, operator, and good afternoon, everybody. Thank you for joining the Compass's First Quarter 2022 Earnings Call. Today's review of our actual financials will address the continuing operations of Compass and certain items are presented on a non-GAAP basis. The reconciliations between GAAP and non-GAAP measures for first quarter financials, as well as our near-term guidance and long-term targets are included at the back of our Q1 earnings release, as well as the presentation posted on our website.

Please also see our disclosure on forward-looking statements, which reflects Compass' current view of future financial performance, which may be materially different from our actual performance for reasons that we cite in our Form 10-K and other SEC filings.

Joining us today will be Robert Reffkin, Founder, Chairman of Compass and Chief Executive Officer; and Kristen Ankerbrandt our CFO. Robert will provide a brief overview of Compass' results and a discussion of our strategy and then Kristen will cover the financial results and outlook in more detail.

Now I'll turn the call over to Robert.

Robert Reffkin

Thank you, Rich, and thank you to everyone joining our earnings call today. I hope everyone is safe and well. Today we are sharing our financial results for the first quarter of 2022 and our outlook for the rest of 2022.

Before we get into the numbers and our view of the market, I want to take this opportunity to say I am so thankful for continuing the journey, growing this amazing business with our outstanding team of Compass employees and over 27,000 world-class agents.

Through their hard work we are now the number one brokerage in the United States, based on sales volume in 2021. We achieved the number one ranking in less than 10 years, displacing long time incumbent brokerages, some that have been in the business for more than a century.