Compass, Inc. (NYSE:COMP) Q3 2023 Earnings Conference Call November 6, 2023 5:00 PM ET

Company Participants

Richard Simonelli - Vice President of Investor Relations

Robert Reffkin - Founder and Chief Executive Officer

Greg Hart - Chief Operating Officer

Kalani Reelitz - Chief Financial Officer

Conference Call Participants

Soham Bhonsle - BTIG

Bernie McTernan - Needham

Mike Ng - Goldman Sachs

Matthew Bouley - Barclays

Lloyd Walmsley - UBS

Ryan McKeveny - Zelman and Associates

Matthew Cost - Morgan Stanley

Operator

Thank you for standing by. And welcome to the Compass Inc. Third Quarter 2023 Earnings Call. I would now like to welcome Richard Simonelli, Vice President, Investor Relations to begin the call. Richard, over to you.

Richard Simonelli

Thank you, operator, and good afternoon, and thank you for joining the Compass third quarter 2023 earnings call today.

Joining us today will be Robert Reffkin, our Founder and Chief Executive Officer; and Greg Hart, our Chief Operating Officer; and Kalani Reelitz, our Chief Financial Officer.

In discussing our company's performance, we will refer to some non-GAAP measures. You can find the reconciliation of these non-GAAP measures to the most directly comparable GAAP measures in our third quarter 2023 earnings release posted on our Investor Relations website.

We will make forward-looking statements that are based on our current expectations, forecasts and assumptions and involve risks and uncertainties. These statements include our guidance for the fourth quarter and full year 2023 and comments related to our operating expenses and cash flow levels, as well as our expectations for operational achievements. Our actual results may differ materially from these statements. You can find more information about risks, uncertainties and other factors that could affect our results on our most recent annual report on Form 10-K and also our quarterly reports on Form 10-Q filed with the SEC and available on our Investor Relations website.

You should not place undue reliance on any forward-looking statements. All information in this presentation today is as of today’s date November 6, 2023. We expressly disclaim any obligation to update this information.

I will now turn the call over to Robert Reffkin. Robert?

Robert Reffkin

Thank you, Rich, and thank you everyone for joining us today for our third quarter results conference call. We achieved strong financial results in line with our guidance in a quarter that has seen mortgage rates increase over 100 basis points to 8%. I am pleased to share that in the third quarter, we grew quarterly market share 26, basis points year-over-year.