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ompass, the country's largest brokerage by sales volume, has posted its strongest-ever financial results. CEO Robert Reffkin announced during the company's July 30 earnings call that Compass achieved 10 new records in Q2, including all-time highs for revenue, adjusted EBITDA, net income, and cash flow. Revenue reached $2.06 billion, a 21.1% increase from the same period last year, while net income more than doubled.

    Compass also hit a recruiting milestone, ending the quarter with 20,965 principal agents, representing the highest level of organic principal agent recruiting during any quarter. The company's pipeline for mergers and acquisitions is larger than ever, with notable deals finalized in Colorado and Washington, D.C.

    Reffkin took aim at portals and MLSs, reiterating Compass' stance on "seller choice" and criticizing Zillow, which the company is suing. He expressed surprise that other industry leaders have remained silent on the issue, saying it's time for them to fight for their agents rather than acquiescing to restrictive listing policies.

    Despite a flat growth in private exclusives, demand remains high for Compass' marketing strategy. Key numbers include:

    * Revenue: $2.06 billion in Q2, up 21.1% from the same period last year

    * Cash and cash equivalents: $177.3 million at the end of Q2, up from $127 million at the end of the previous quarter

    * Adjusted EBITDA: $125.9 million in Q2 compared to $77.4 million from the same period a year ago

    * Net income/loss: Net income of $39.4 million, an increase of $18.7 million year-over-year

    * Transactions: 73,025 transactions closed by Compass agents in Q2 2025, up 20.9% from Q2 2024

    Compass anticipates revenue of $1.725 billion to $1.850 billion and adjusted EBITDA of $60 million to $80 million for Q3. The company has also made notable moves, including appointing a new president of Christie's International Real Estate and announcing the departure of Chief Financial Officer Kalani Reelitz.