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Compass, Inc. Reports Fourth Quarter and Full-Year 2024 Results

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Revenue in Q4 Grew 25.9% YoY and Organic Revenue Grew 20.9% YoY
Quarterly Market Share Grew 65bps YoY to 5.06% and Organic Share Was Up 48bps
$122 Million in Full-Year Operating Cash Flow; $150 Million Prior to NAR-related Settlement

NEW YORK, Feb. 18, 2025 /PRNewswire/ — Compass, Inc. (NYSE: COMP) (“Compass” or “the Company”), a leading tech-enabled real estate services company that includes the largest residential real estate brokerage in the United States by sales volume1, announced its financial results for the fourth quarter and full-year ended December 31, 2024.

“Despite a year in which resale transactions experienced a 29-year low, Compass grew both Revenue and Adjusted EBITDA2 significantly and delivered $122 million in operating cash flow, or $150 million prior to the NAR-related settlement payment. As the market recovers, we believe the combination of our cost discipline and structural advantages, which include our end-to-end proprietary technology platform, national scale, network of top agents, and depth of inventory, positions Compass to capture significant upside,” said Robert Reffkin, Founder and Chief Executive Officer of Compass. “In the fourth quarter, we grew transactions by 24.1% or 3.5x faster than the market where transactions grew by 6.8% year-over-year. This led to quarterly market share of 5.06%, or an increase of 65 basis points, which is our highest year-over-year increase in market share in twelve quarters. Importantly, organic transactions3 increased by 15.5% year-over-year and organic quarterly market share4 grew 48 basis points.”

Reffkin continued, “I believe 2025 will be the year that the gap between Compass and the industry widens. By leveraging our structural advantages and our affiliation with the Christie’s International Real Estate brand, we are positioning ourselves to accelerate our market share gains.”

Kalani Reelitz, Chief Financial Officer of Compass said, “We continue to strengthen our balance sheet and ended the quarter with a cash balance of $223.8 million. In Q4 2024, we generated positive operating cash flow of $30.5 million and free cash flow5 of $26.7 million, which made us free cash flow positive in every single quarter in 2024, and for the full-year operating cash flow was $121.5 million and free cash flow was $105.8 million. For the full-year, OPEX6 came in $8 million below the low-end of our full-year OPEX guide, and we achieved this while still maintaining high-levels of agent retention and growing full-year market share by 49 basis points. These results exhibit our commitment to control costs as we continue to outpace market growth.”

Q4 2024 Highlights:

Revenue in Q4 2024 increased by 25.9% year-over-year to $1.4 billion as transactions increased 24.1%. Year-over-year organic revenue growth7 (a non-GAAP measure) was up 20.9%, while revenue growth attributable to the acquisitions completed within the prior 12-months was 5%. GAAP Net loss in Q4 2024 was $40.5 million, an improvement of $43.2 million from a net loss of $83.7 million in Q4 2023. The net loss for Q4 2024 includes non-cash stock-based compensation expense of $31.2 million and depreciation and amortization of $19.7 million.Adjusted EBITDA8 (a non-GAAP measure) was $16.7 million in Q4 2024 compared to ($23.7) million in Q4 2023, an improvement of $40.4 million. Excluding M&A related transaction costs of $4.2 million, Adjusted EBITDA in Q4 2024 would have been $20.9 million.Operating Cash Flow / Free Cash Flow9 (a non-GAAP measure): During Q4 2024, operating cash flow was $30.5 million and free cash flow was $26.7 million.Cash and cash equivalents at the end of Q4 2024 was $223.8 million, and there were no outstanding draws on our revolving credit facility at that time. 

Q4 2024 Operational Highlights:

National market share: In Q4 2024, quarterly market share was 5.06%, an increase of 65 basis points compared to Q4 2023 and an increase of 26 basis points sequentially from Q3 2024. This compares favorably to the 9 basis points increase year-over-year in Q4 2023 compared to Q4 2022 and a 10 basis point increase sequentially from Q3 2023 to Q4 2023. Quarterly organic market share growth year-over-year was 48 basis points in Q4 compared to 24 basis points year-over-year in Q3 2024 compared to Q3 2023. Principal Agents10 11: At the end of Q4 2024, the number of principal agents was 17,752 compared to 14,683 at the end of Q4 2023, an increase of 3,069 or 20.9% year-over-year. Sequentially, from Q3 2024 to Q4 2024, Compass hired 669 principal agents on a gross basis, resulting in a net increase of 210 principal agents as Compass managed out non-producers at the end of the year. We continued the trend of strong agent retention with 96.9% quarterly principal agent retention in Q4 2024, flat versus the prior year quarter. Transactions12: Compass agents closed 50,411 total transactions in Q4 2024, an increase of 24.1% compared to Q4 2023 (40,621). Organic transactions in Q4 2024 increased by 15.5% compared to Q4 2023. Transactions for the entire U.S. residential real estate market increased 6.8% for the same period, according to NAR.Gross Transaction Value (“GTV”)13: GTV was $54.0 billion in Q4 2024, an increase of 29.2% compared to Q4 2023 GTV of $41.8 billion. Organic GTV14 was $52.1 billion in Q4 2024. The entire U.S. residential real estate market GTV increased 12.6% for the same period, according to NAR.Inventory: The Compass 3-Phased Marketing Strategy helps homeowners benefit from the same strategies used by the most sophisticated and profit-driven sellers of homes in the industry – real estate developers and homebuilders – by listing first as a Compass Private Exclusive and then as a Compass Coming Soon, before going active on the MLS or public real estate websites. Early results of implementing the Compass 3-Phased Marketing Strategy have been promising, with a growing number of sellers opting into the program and seeing positive outcomes by avoiding unnecessary days on market, price drop history, and negative insights displayed on their listing prior to it being made active on the MLS and public real estate websites.

Below are a few data points on our progress so far and results from an internal analysis of listings that went through the Compass 3-Phased Marketing Strategy: 

As February 16, 2025, homeowners are marketing more than 7,500 listings as a Compass Private Exclusive or a Compass Coming Soon, which are only available by working with a Compass agent or by searching Compass.com:Roughly half the Compass Private Exclusive and Compass Coming Soon listings were above a $1 million list price, with the other half being below a $1 million list price, which suggests that this listing strategy is resonating with homeowners across all price points.Of Compass’ 22,138 listings, approximately 35% currently are either a Compass Private Exclusive or Compass Coming Soon.

So far in the month of February, 55% of all new Compass listings started as a Compass Private Exclusive or Compass Compass Coming Soon.  For Compass sell-side transactions from January 1, 2024 through December 31, 2024, properties where the homeowner chose to pre-market as a Compass Private Exclusive and/or a Compass Coming Soon before going active on the MLS:Received an accepted offer 20% faster on average or 8 days faster on average once active on the MLS, than Compass listings without pre-marketing15; andCreated value for homeowners as only 13% of Compass listings on average that were pre-marketed had a price drop, compared to 19% for Compass listings without pre-marketing. This means approximately 30% fewer listings on average took a price drop once active on the MLS vs. Compass listings that were not pre-marketed15.
           Compass also completed an internal analysis to better understand the relationship between close price and pre-marketing as a Compass Private Exclusive and/or a Compass Coming Soon, before going active on the MLS. This analysis examined Compass sell-side transactions of all residential property types in 2024 and found that homes pre-marketed as a Compass Private Exclusive and/or a Compass Coming Soon before going active on the MLS were associated with a 2.9% higher average close price compared to Compass-sold properties that were not pre-marketed in 202416.At Compass’ average price point of roughly $1 million, homeowners who chose to pre-market their home with a Compass agent were therefore likely to have realized a $29,000 premium on what is often the most valuable asset most people own, compared to those who listed directly on the MLS.

Platform: The Compass end-to-end proprietary technology platform allows real estate agents to perform their primary workflows, from first contact to close, with a single log-in and without leaving the Compass platform. Highlights from Q4 2024 include:Compass One-click Title Integration: Title & Escrow attach rates improved more than 800 basis points over the past four quarters as the contribution from our One-click Title integration continues to drive our attach rates higher for agents who utilize the integration compared to agents who do not.Compass One: The industry’s premier all-in-one client dashboard that is designed to connect buyers and sellers with their agent to provide 24/7 transparency before, during, and after the transaction launched in beta in October 2024 and nationally on February 3, 2025. In the first week after the launch, agents sent 14,950 invitations to clients and we have seen a 43% increase in client engagement as measured by the change in weekly active users.Compass Reverse Prospecting: Launched in late October, Reverse Prospecting provides homesellers with exclusive insights such as real-time updates on how often agents and their clients are looking at, commenting on, favoriting, or sharing listings across the Compass platform and approximately 8,350 agents have used the feature. In the less than three months since launch, dozens of transactions have been created by matching buyers and sellers through the Compass Reverse Prospecting tool.Compass Make-Me-Sell: A feature in our platform that allows homeowners to share an aspirational price with their agent that would compel them to move continues to gain traction with approximately 9,500 entries so far in the platform. With full launch expected in Q1 2025, we believe this tool will help convert a portion of our 100+ million CRM contacts into passive ‘willing-to-sell’ inventory that will only be available to Compass agents.

Additional information can be found in the Company’s Q4 2024 Earnings Presentation, which can be found in the Investor Relations section of the Compass website at https://investors.compass.com.

Q1 2025 Outlook:

Revenue of $1.350 billion to $1.475 billion for Q1.Adjusted EBITDA of $11 million to $25 million for Q1.

Full Year 2025 Outlook:

Non-GAAP OPEX of $1.005 billion to $1.030 billion. Included in the range is an increase of 2024 OPEX of 3-4%, $10 million of wrap around OPEX from 2024 M&A and $105 million of OPEX from the Christie’s International Real Estate acquisition that closed on January 13, 2025.Free cash flow positive for the full year 2025.

We have not reconciled our guidance for Adjusted EBITDA to GAAP Net loss because certain expenses excluded from GAAP Net loss when calculating Adjusted EBITDA cannot be reasonably calculated or predicted at this time. Additionally, we have not reconciled our guidance for non-GAAP OPEX to GAAP OPEX because certain expenses excluded from GAAP OPEX cannot be reasonably calculated or predicted at this time. Accordingly, reconciliations are not available without unreasonable effort.

For a reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures on a historical basis, see “Reconciliation of Net Loss Attributable to Compass, Inc. to Adjusted EBITDA,” “Reconciliation of GAAP OPEX to non-GAAP OPEX” and “Reconciliation of GAAP Operating Cash Flow to Free Cash Flow” in the financial statement tables included in this press release.

Conference Call Information
Management will conduct a conference call to discuss the fourth quarter 2024 results as well as outlook at 5:00 p.m. ET on Tuesday, February 18, 2025. The conference call will be accessible via the Internet on the Compass Investor Relations website https://investors.compass.com. You can also access the audio webcast via the following link: Compass, Inc. Q4 24 Earnings Conference Call

An audio recording of the conference call will be available for replay shortly after the call’s completion. To access the replay, visit the Events and Presentations section on the Compass Investor Relations website at https://investors.compass.com.

Disclosure Channels
Compass uses its Investor Relations website, https://investors.compass.com, as a means of disclosing information which may be of interest or material to its investors and for complying with disclosure obligations under Regulation FD. We intend to announce material information to the public through filings with the Securities and Exchange Commission, or the SEC, the investor relations page on our website (www.compass.com), press releases, public conference calls, public webcasts, our X (formerly Twitter) feed (@Compass), our Facebook page, our LinkedIn page, our Instagram account, our YouTube channel, and Robert Reffkin’s X (formerly Twitter) feed (@RobReffkin) and Instagram account (@robreffkin). Accordingly, investors should monitor each of these disclosure channels.

Safe Harbor Statement
This press release includes forward-looking statements, which are statements other than statements of historical facts, and statements in the future tense. These statements include, but are not limited to, statements regarding our future performance, including expected financial results for the first quarter of 2025, planned non-GAAP OPEX and free cash flow expectations for the full year of 2025, and our expectations for operational achievements. Forward-looking statements are based upon various estimates and assumptions, as well as information known to us as of the date of this press release, and are subject to risks and uncertainties, including but not limited to: general economic conditions, economic and industry downturns, the health of the U.S. real estate industry, and risks generally incident to the ownership of residential real estate; the effect of monetary policies of the federal government and its agencies; high mortgage rates; ongoing industry antitrust class action litigation (including lawsuits filed against us) or any related regulatory activities; any decreases in our gross commission income or the percentage of commissions that we collect; low home inventory levels; our ability to carefully manage our expense structure; adverse economic, real estate or business conditions in geographic areas where our business is concentrated and/or impacting high-end markets; our ability to continuously innovate, improve and expand our platform, including tools and features integrating machine learning and artificial intelligence; our ability to expand our operations, including owned-brokerage, affiliate business and integrated services, and to offer additional integrated services; our ability to realize expected benefits from our mortgage business; our ability to compete successfully; our ability to attract and retain highly qualified personnel, to recruit agents and to expand our network of affiliates; our ability to re-accelerate our business growth given our current expense structure; fluctuation in our quarterly results and other operating metrics; the loss of one or more key personnel; actions by our agents at our owned-brokerage, employees or affiliates that could adversely affect our reputation and subject us to liability; our ability to pursue acquisitions that are successful and can be integrated into our existing operations and can allow us to realize anticipated synergies and cost savings; changes in mortgage underwriting standards; our ability to maintain or establish relationships with third-party service providers; the impact of cybersecurity incidents and the potential loss of critical and confidential information; the reliability of our fraud detection processes and information security systems; depository banks not honoring our escrow and trust deposits; adoption of alternatives to full-service agents by consumers; our ability to develop and maintain an effective system of disclosure controls and internal control over financial reporting; covenants in our debt agreements that may restrict our borrowing capacity or operating activities; our abilities to use net operating losses and other tax attributes; changes in, and our reliance on, accounting standards, assumptions, estimates and business data; the dependability of our platform and software; our ability to maintain our company culture; our ability to obtain or maintain adequate insurance coverage; processing, storage, and use of personal information and other data, and compliance with privacy laws and regulations; natural disasters and catastrophic events; the effect of the claims, lawsuits, government investigations and other proceedings; changes in federal or state laws that would require our agents to be classified as employees; our ability to protect our intellectual property rights and our reliance on the intellectual property rights of third parties; the impact of having a multi-class structure of common stock; and other risks set forth in our annual report on Form 10-K and our subsequent quarterly reports on Form 10-Q. Significant variation from the assumptions underlying our forward-looking statements could cause our actual results to vary, and the impact could be significant. Accordingly, actual results could differ materially from those predicted or implied or such uncertainties could cause adverse effects on our results. Reported results should not be considered as an indication of future performance. 

More information about factors that could adversely affect our business, financial condition and results of operations, or that could cause actual results to differ from those expressed or implied in our forward-looking statements is included under the captions “Risk Factors,” “Legal Proceedings” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent annual report on Form 10-K and our subsequent quarterly reports on Form 10-Q, copies of which are available on the Investor Relations page of our website at https://investors.compass.com/ and on the SEC website at www.sec.gov. All information herein speaks as of the date hereof and all forward-looking statements contained herein are based on information available to us as of the date hereof, and we do not assume any obligation to update these statements as a result of new information or future events. Undue reliance should not be placed on the forward-looking statements in this press release.

Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements, which are prepared in accordance with GAAP, we present Adjusted EBITDA, non-GAAP OPEX, free cash flow, and organic revenue growth, which are non-GAAP financial measures, in this press release. We use Adjusted EBITDA, non-GAAP OPEX, free cash flow and organic revenue growth in conjunction with GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies and to communicate with our board of directors concerning our financial performance. We believe Adjusted EBITDA, non-GAAP OPEX, free cash flow and organic revenue growth are also helpful to investors, analysts and other interested parties because they can assist in providing a more consistent and comparable overview of our operations across our historical financial periods. Adjusted EBITDA, non-GAAP OPEX, free cash flow and organic revenue growth have limitations as analytical tools. Therefore, you should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. Because of these limitations, you should consider Adjusted EBITDA, non-GAAP OPEX, free cash flow and organic revenue growth alongside other financial performance measures, including net loss attributable to Compass, Inc., GAAP OPEX, operating cash flows, revenue and our other GAAP measures. In evaluating Adjusted EBITDA, non-GAAP OPEX, free cash flow, and organic revenue growth, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments reflected in this press release. Our presentation of Adjusted EBITDA, non-GAAP OPEX, free cash flow and organic revenue growth should not be construed to imply that our future results will be unaffected by the types of items excluded from these calculations of Adjusted EBITDA, non-GAAP OPEX, free cash flow and organic revenue growth. Adjusted EBITDA, non-GAAP OPEX, free cash flow and organic revenue growth are not presented in accordance with GAAP and the use of these terms vary from others in our industry. Reconciliations of these non-GAAP measures have been provided in the financial statement tables included in this press release, and investors are encouraged to review these reconciliations.

About Compass
Compass is a leading tech-enabled real estate services company that includes the largest residential real estate brokerage in the United States by sales volume. Founded in 2012 and based in New York City, Compass provides an end-to-end platform that empowers its residential real estate agents at its owned-brokerage to deliver exceptional service to seller and buyer clients. The platform includes an integrated suite of cloud-based software for customer relationship management, marketing, client service, brokerage services and other critical functionality, all custom-built for the real estate industry. Compass agents utilize the platform to grow their business, save time, and manage their businesses more efficiently. The Compass network includes Christie’s International Real Estate, the world’s premier global luxury real estate brand with over 100 independently owned brokerage Affiliates in 50 countries and territories. For more information on how Compass empowers real estate agents, one of the country’s largest groups of small business owners, please visit www.compass.com.

Investor Contact
Soham Bhonsle
soham.bhonsle@compass.com

Media Contact
Rory Golod
rory@compass.com

______________

1 Compass was ranked as the number one real estate brokerage by sales volume for 2023 by Real Trends in March 2024 for the third year in a row.

2 A reconciliation of GAAP to Non-GAAP measures can be found within the financial statement tables included in this press release.

3 Organic transactions excludes transactions attributable to the acquisitions completed within the last twelve months.

4 Organic market share excludes market share attributable to the acquisitions completed in the last twelve months.

5 A reconciliation of GAAP to Non-GAAP measures can be found within the financial statement tables included in this press release.

6 Non-GAAP OPEX excludes Commissions and other related expenses, Depreciation and amortization, Stock-based compensation and other expenses excluded from the Company’s calculation of Adjusted EBITDA. A reconciliation of GAAP to Non-GAAP measures can be found within the financial statement tables included in this press release.

7 Organic revenue growth excludes revenue attributable to the acquisitions completed within the last twelve months.

8 A reconciliation of GAAP to Non-GAAP measures can be found within the financial statement tables included in this press release.

9 A reconciliation of GAAP to Non-GAAP measures can be found within the financial statement tables included in this press release.

10 During the first quarter of 2024, the Company began to report its agent statistics as of the quarter end. The Company’s Number of Principal Agents and year-over-year and sequential change reported in this press release is based on the quarter end count for the fourth quarter of 2023 and 2024 and the third quarter of 2024.

11 Excludes approximately 1,000 principal agents located in Texas who joined Compass during the second quarter of 2024 as part of the Latter & Blum Holdings, LLC acquisition. These agents operate with a flat fee / transaction fee based model, which is different from the Company’s standard commission model.

12 We calculate Total Transactions by taking the sum of all transactions closed on the Compass platform in which our agent represents the buyer or seller in the purchase or sale of a home (excluding rental transactions). We include a single transaction twice when one or more Compass agents represent both the buyer and seller in any given transaction.

13 Gross Transaction Value includes a de minimis number of new development and commercial brokerage transactions.

14 Organic GTV excludes transactions attributable to the acquisitions completed within the last twelve months.

15 Findings are descriptive statistics and compare the average of Compass residential listings that went active on a MLS and were pre-marketed as a Compass Private Exclusive and/or Compass Coming Sooner vs. the average of Compass residential listings that went active on a MLS but were not pre-marketed as a Compass Private Exclusive and/or Compass Coming Soon from January 1, 2024 – December 31, 2024. Price drop history is included for geographies where price drop history is available from MLS. Source: Compass data.

16 Findings from the internal analysis were based on a hedonic regression analysis that examined Compass residential closed sell-side transactions from January 1, 2024 – December 31, 2024, nationally and for all residential property types (single family, co-op, condo, townhouse, and condop). For 2024, Compass pre-marketed listings are associated with an average 2.9% increase in the final close price versus Compass listings that went directly to the MLS. The estimated effect has a 95% confidence interval ranging from 1.9% and 3.9%. This finding may vary depending on market conditions and seasonality. The results provided are based on current data and methodologies, and should not be interpreted as definitive predictions of future outcomes.

 

Compass, Inc.
Condensed Consolidated Balance Sheets
(In millions, unaudited)

December 31, 2024

December 31, 2023

Assets

Current assets

Cash and cash equivalents

$

223.8

$

166.9

Accounts receivable, net of allowance

48.6

36.6

Compass Concierge receivables, net of allowance

24.4

24.0

Other current assets

33.2

54.5

Total current assets

330.0

282.0

Property and equipment, net

125.5

151.7

Operating lease right-of-use assets

389.7

408.5

Intangible assets, net

73.8

77.6

Goodwill

233.6

209.8

Other non-current assets

25.4

30.7

Total assets

$

1,178.0

$

1,160.3

Liabilities and Stockholders’ Equity

Current liabilities

Accounts payable

$

13.0

$

18.4

Commissions payable

82.8

59.6

Accrued expenses and other current liabilities

140.3

90.8

Current lease liabilities

93.5

98.9

Concierge credit facility

23.6

24.8

Total current liabilities

353.2

292.5

Non-current lease liabilities

380.5

410.2

Other non-current liabilities

31.9

25.6

Total liabilities

765.6

728.3

Stockholders’ equity

Common stock

Additional paid-in capital

3,081.6

2,946.5

Accumulated deficit

(2,672.2)

(2,517.8)

Total Compass, Inc. stockholders’ equity

409.4

428.7

Non-controlling interest

3.0

3.3

Total stockholders’ equity

412.4

432.0

Total liabilities and stockholders’ equity

$

1,178.0

$

1,160.3

 

Compass, Inc.
Condensed Consolidated Statements of Operations
(In millions, except share and per share data, unaudited)

 

Three Months Ended December 31,

Year Ended December 31,

2024

2023

2024

2023

Revenue

$

1,380.4

$

1,096.4

$

5,629.1

$

4,885.0

Operating expenses:

Commissions and other related expense (1)

1,139.3

895.9

4,634.6

4,007.0

Sales and marketing (1)

92.2

102.9

368.7

435.4

Operations and support (1)

88.0

79.6

334.5

326.9

Research and development (1)

46.9

44.4

188.8

184.5

General and administrative (1)

32.7

32.4

165.2

125.7

Restructuring costs

2.2

2.7

9.7

30.4

Depreciation and amortization

19.7

21.5

82.4

90.0

        Total operating expenses

1,421.0

1,179.4

5,783.9

5,199.9

Loss from operations

(40.6)

(83.0)

(154.8)

(314.9)

Investment income, net

2.1

1.6

6.8

8.5

Interest expense

(1.8)

(1.6)

(6.4)

(10.8)

Loss before income taxes and equity in income (loss) of unconsolidated entity

(40.3)

(83.0)

(154.4)

(317.2)

Income tax (expense) benefit

(0.2)

(0.1)

0.5

0.4

Equity in income (loss) of unconsolidated entity

0.1

(0.7)

(0.6)

(3.3)

Net loss

(40.4)

(83.8)

(154.5)

(320.1)

Net (income) loss attributable to non-controlling interests

(0.1)

0.1

0.1

(1.2)

Net loss attributable to Compass, Inc.

$

(40.5)

$

(83.7)

$

(154.4)

$

(321.3)

Net loss per share attributable to Compass, Inc., basic and diluted

$

(0.08)

$

(0.17)

$

(0.31)

$

(0.69)

Weighted-average shares used in computing net loss per share attributable to Compass, Inc., basic and diluted

511,244,971

483,710,540

501,514,681

466,522,935

(1) Total stock-based compensation expense included in the condensed consolidated statements of operations is as follows (in millions):

 

Three Months Ended December 31,

Year Ended December 31,

2024

2023

2024

2023

Commissions and other related expense

$

$

$

$

11.6

Sales and marketing

7.5

8.6

31.5

35.0

Operations and support

4.2

4.5

16.5

16.1

Research and development

13.3

11.3

58.0

45.7

General and administrative

6.2

11.9

21.5

49.8

Total stock-based compensation expense

$

31.2

$

36.3

$

127.5

$

158.2

 

Compass, Inc.
Condensed Consolidated Statements of Cash Flows
(In millions, unaudited)

Year Ended December 31,

2024

2023

Operating Activities

Net loss

$

(154.5)

$

(320.1)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

Depreciation and amortization

82.4

90.0

Stock-based compensation

127.5

158.2

Equity in loss of unconsolidated entity

0.6

3.3

Change in acquisition related contingent consideration

6.0

2.6

Bad debt allowance

(2.1)

4.4

Amortization of debt issuance costs

0.7

0.7

Changes in operating assets and liabilities:

Accounts receivable

(8.0)

(3.5)

Compass Concierge receivables

(0.8)

18.0

Other current assets

21.3

21.4

Other non-current assets

7.0

9.1

Operating lease right-of-use assets and operating lease liabilities

(17.4)

(1.2)

Accounts payable

(6.3)

(9.8)

Commissions payable

23.1

11.6

Accrued expenses and other liabilities

42.0

(10.6)

Net cash provided by (used in) operating activities

121.5

(25.9)

Investing Activities

Investment in unconsolidated entity

(2.0)

(1.2)

Capital expenditures

(15.7)

(11.2)

Payments for acquisitions, net of cash acquired

(18.9)

0.7

Net cash used in investing activities

(36.6)

(11.7)

Financing Activities

Proceeds from exercise of stock options

9.5

4.5

Proceeds from issuance of common stock under the Employee Stock Purchase Plan

2.2

2.5

Taxes paid related to net share settlement of equity awards

(35.0)

(23.5)

Proceeds from drawdowns on Concierge credit facility

48.7

55.4

Repayments of drawdowns on Concierge credit facility

(49.9)

(62.5)

Proceeds from drawdowns on Revolving credit facility

75.0

Repayments of drawdowns on Revolving credit facility

(225.0)

Proceeds from issuance of common stock in connection with the Strategic Transaction

32.3

Payments related to acquisitions, including contingent consideration

(3.4)

(14.6)

Other

(0.1)

(1.5)

Net cash used in financing activities

(28.0)

(157.4)

Net increase (decrease) in cash and cash equivalents

56.9

(195.0)

Cash and cash equivalents at beginning of period

166.9

361.9

Cash and cash equivalents at end of period

$

223.8

$

166.9

 

Compass, Inc.
Reconciliation of Net Loss Attributable to Compass, Inc. to Adjusted EBITDA
(In millions, unaudited)

Three Months Ended December 31,

Year Ended December 31,

2024

2023

2024

2023

Net loss attributable to Compass, Inc.

$

(40.5)

$

(83.7)

$

(154.4)

$

(321.3)

Adjusted to exclude the following:

Depreciation and amortization

19.7

21.5

82.4

90.0

Investment income, net

(2.1)

(1.6)

(6.8)

(8.5)

Interest expense

1.8

1.6

6.4

10.8

Stock-based compensation

31.2

36.3

127.5

158.2

Income tax expense (benefit)

0.2

0.1

(0.5)

(0.4)

Restructuring costs

2.2

2.7

9.7

30.4

Acquisition-related expenses(1)

4.2

(0.6)

4.2

1.9

Litigation charges(2)

57.5

Adjusted EBITDA

$

16.7

$

(23.7)

$

126.0

$

(38.9)

(1) For the three months ended December 31, 2024 and 2023, acquisition-related expenses includes losses of $4.0 million and $0.9 million, respectively, as a result of changes in the fair value of contingent consideration and expense of $0.2 million and a gain of $1.5 million, respectively, for the three months ended December 31, 2024 and 2023 related to acquisition consideration treated as compensation expense over the underlying retention periods. For the years ended December 31, 2024 and 2023, acquisition-related expenses includes losses of $4.0 million and $1.3 million, respectively, as a result of changes in the fair value of contingent consideration and expense of $0.2 million and $0.6 million, respectively, for the years ended December 31, 2024 and 2023 related to acquisition consideration treated as compensation expense over the underlying retention periods.

(2) Represents a charge of $57.5 million incurred during the three months ended March 31, 2024 in connection with the Antitrust Lawsuits. 50% of the settlement was paid during the three months ended June 30, 2024, and the remaining 50% is expected to be paid within one year of the court’s preliminary approval.

 

Compass, Inc.
Reconciliation of Operating Cash Flow to Free Cash Flow
(In millions, unaudited)

 

Three Months Ended December 31,

Year Ended December 31,

2024

2023

2024

2023

   Net cash provided by (used in) operating activities

$

30.5

$

(38.7)

$

121.5

$

(25.9)

     Less:

   Capital expenditures

(3.8)

(2.3)

(15.7)

(11.2)

     Free cash flow

$

26.7

$

(41.0)

$

105.8

$

(37.1)

 

Compass, Inc.
Reconciliation of GAAP Operating Expenses to Non-GAAP Operating Expenses
(In millions, unaudited)

Three Months Ended December 31,

Year Ended December 31,

2024

2023

2024

2023

GAAP Commissions and other related expense

$

1,139.3

$

895.9

$

4,634.6

$

4,007.0

Adjusted to exclude the following:

Stock-based compensation

(11.6)

Non-GAAP Commissions and other related expense

$

1,139.3

$

895.9

$

4,634.6

$

3,995.4

GAAP Sales and marketing

$

92.2

$

102.9

$

368.7

$

435.4

Adjusted to exclude the following:

Stock-based compensation

(7.5)

(8.6)

(31.5)

(35.0)

Non-GAAP Sales and marketing

$

84.7

$

94.3

$

337.2

$

400.4

GAAP Operations and support

$

88.0

$

79.6

$

334.5

$

326.9

Adjusted to exclude the following:

Stock-based compensation

(4.2)

(4.5)

(16.5)

(16.1)

Acquisition-related expenses

(4.2)

0.6

(4.2)

(1.9)

Non-GAAP Operations and support

$

79.6

$

75.7

$

313.8

$

308.9

GAAP Research and development

$

46.9

$

44.4

$

188.8

$

184.5

Adjusted to exclude the following:

Stock-based compensation

(13.3)

(11.3)

(58.0)

(45.7)

Non-GAAP Research and development

$

33.6

$

33.1

$

130.8

$

138.8

GAAP General and administrative

$

32.7

$

32.4

$

165.2

$

125.7

Adjusted to exclude the following:

Stock-based compensation

(6.2)

(11.9)

(21.5)

(49.8)

Litigation charge

(57.5)

Non-GAAP General and administrative

$

26.5

$

20.5

$

86.2

$

75.9

 

Compass, Inc.
Non-GAAP Operating Expenses Excluding Commissions and Other Related Expense
(In millions, unaudited)

Three Months Ended

March 31,
2023

June 30,
2023

September 30,
2023

December 31,
2023

March 31,
2024

June 30,
2024

September 30,
2024

December 31,
2024

Sales and marketing

$

106.7

$

104.3

$

95.1

$

94.3

$

85.5

$

86.6

$

80.4

$

84.7

Operations and support

75.0

79.8

78.4

75.7

75.3

78.7

80.2

79.6

Research and development

38.5

32.8

34.4

33.1

32.1

32.2

32.9

33.6

General and administrative

23.1

21.4

10.9

20.5

18.3

19.9

21.5

26.5

Total non-GAAP operating expenses excluding
     commissions and other related expense

$

243.3

$

238.3

$

218.8

$

223.6

$

211.2

$

217.4

$

215.0

$

224.4

 

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SOURCE COMPASS

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BTQ Technologies’ QSSN Selected as Core Security Infrastructure for South Korea’s First Bank-Led KRW Stablecoin Proof-of-Concept

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BTQ provides strategic advisory support and QSSN as core PQC security infrastructure for the iM Bank initiative on the Kaia mainnet, advancing post-quantum migration across global financial infrastructure

BTQ has been selected as the core post-quantum cryptography security technology provider for South Korea’s first bank-led KRW stablecoin proof-of-concept, delivering its Quantum Secure Stablecoin Settlement Network (“QSSN”) for the initiative.
 BTQ is providing strategic advisory support and helping coordinate implementation across the partnership with iM Bank and Finger, supporting the integration of post-quantum protections into regulated digital money infrastructure.
 Built on the Kaia mainnet, the proof-of-concept is connected to the blockchain ecosystems originally developed by Kakao and LINE, linking the initiative to two of the largest messaging and digital platform ecosystems in Korea and Japan.

VANCOUVER, BC, May 6, 2026 /PRNewswire/ – BTQ Technologies Corp. (“BTQ” or the “Company”) (Nasdaq: BTQ) (CBOE CA: BTQ), a global quantum technology company focused on securing mission-critical networks, today announced that it it has been selected as the core PQC security technology provider through its Quantum Secure Stablecoin Settlement Network (“QSSN”) in a proof-of-concept with its Korean strategic partner, Finger Inc. (“Finger”), and iM Bank, a leading Korean commercial bank, for South Korea’s first bank-led Korean won stablecoin infrastructure incorporating post-quantum cryptography (“PQC”).

The proof-of-concept represents more than a technical pilot. It marks an important step in bringing next-generation quantum security into banking infrastructure within Korea’s regulated financial system. In addition to providing QSSN as the core PQC security framework, BTQ is contributing consulting and strategic coordination across the three-way partnership, helping align the project’s security architecture, implementation approach, and long-term post-quantum migration objectives.

“Post-quantum migration requires more than a cryptographic upgrade. It requires coordination across infrastructure, implementation, and institutional stakeholders,” said Olivier Roussy Newton, Chief Executive Officer of BTQ Technologies. “In this initiative, BTQ is providing both strategic advisory support and QSSN as the post-quantum security architecture, while helping lead coordination across the three-way partnership. We believe this proof-of-concept demonstrates how financial institutions can begin integrating quantum-resilient protections into digital money systems in a practical and operationally viable way.”

South Korea’s First Bank-Led PQC Stablecoin Infrastructure Initiative

BTQ is working alongside iM Bank and Finger on a three-way initiative to validate the issuance and distribution infrastructure for a Korean won stablecoin. In addition to supplying QSSN as the PQC security layer, BTQ is providing consulting support and helping to guide coordination across the partnership as the parties evaluate how to integrate post-quantum protections into bank-led digital asset infrastructure.

The proof-of-concept will validate several key components, including real-time reconciliation between bank reserves and blockchain-issued supply, a global-standard smart contract architecture, connectivity to global infrastructure for overseas distribution, and the integration of a PQC-based dual-signature security structure. By applying BTQ’s PQC signature architecture alongside the existing ECDSA cryptographic framework, the system is designed to preserve operational continuity for financial institutions while proactively addressing future quantum computing threats.

Built on Kaia Mainnet

A notable feature of the proof-of-concept is that it will be implemented on the Kaia mainnet, one of Korea’s leading Layer 1 blockchain networks. Kaia was created through the merger of Klaytn, the blockchain originally developed by Kakao, and Finschia, the blockchain associated with LINE. Kakao and LINE sit at the center of two of the largest messaging and digital platform ecosystems in Korea and Japan, respectively, making Kaia a significant piece of regional digital infrastructure.

Klaytn previously participated in the Bank of Korea’s CBDC pilot ecosystem, and the Bank of Korea has continued to advance CBDC testing through initiatives such as Project Hangang.

By combining BTQ’s PQC technology with blockchain infrastructure tied to the Kakao and LINE ecosystems, the proof-of-concept is intended to establish a model that aligns institutional-grade security, blockchain scalability, and evolving regulatory requirements for digital money infrastructure.

QSSN as the Security Layer

The PQC security foundation for the initiative is BTQ’s Quantum Secure Stablecoin Settlement Network, or QSSN, a quantum-secure network architecture designed for stablecoin, tokenized deposit, payment, and digital asset infrastructure. QSSN is designed to protect critical issuer functions, including stablecoin issuance, burning, transfer authority, upgrade control, and administrative permissions, by integrating PQC-based signatures while maintaining existing user experience and operational workflows.

BTQ has previously announced that QSSN was highlighted in the U.S. Post-Quantum Financial Infrastructure Framework (“PQFIF”) as a model architecture for post-quantum digital money infrastructure. The Company has also positioned QSSN as a standards-oriented initiative advanced through QuINSA and aligned with emerging post-quantum financial infrastructure requirements.

Addressing the Harvest-Now, Decrypt-Later Risk

The timing of the proof-of-concept reflects the growing urgency surrounding the “Harvest-Now, Decrypt-Later” risk, in which attackers may collect encrypted financial data today and decrypt it later once sufficiently advanced quantum capabilities emerge. Global institutions are already accelerating post-quantum migration. The U.S. National Institute of Standards and Technology (“NIST”) has finalized its first set of post-quantum cryptography standards, including ML-DSA, ML-KEM, and SLH-DSA, while major technology companies and financial institutions continue to define their own post-quantum transition timelines.

BTQ’s QSSN addresses this challenge through a dual-signature design that allows existing ECDSA-based infrastructure to operate in parallel with NIST-aligned PQC signatures such as ML-DSA. This approach enables banks and payment infrastructure providers to begin a phased transition toward quantum-safe security without disrupting existing systems.

Expanding BTQ’s Korean Ecosystem

BTQ continues to expand its Korean ecosystem across digital assets, payments, banking infrastructure, and hardware-based security. In October 2025, BTQ announced that Finger had joined Danal as an early participant in BTQ’s QSSN pilot program, with the initiative expected to progress from proof-of-concept toward commercialization under QuINSA-aligned guidelines and broader industry frameworks such as PQFIF.

The commencement of the iM Bank proof-of-concept represents an important commercial signal for BTQ, indicating that demand for post-quantum migration among Korean financial institutions is beginning to move from policy discussion toward infrastructure-level implementation. As Korea advances both quantum technology policy and stablecoin-related regulatory discussions, BTQ believes QSSN is well positioned at the intersection of regulated finance, digital asset infrastructure, and post-quantum security.

About iM Bank
iM Bank is a South Korean commercial bank and a subsidiary of DGB Financial Group. Headquartered in Daegu, iM Bank presents itself as a financial companion for customers and traces its roots to Daegu Bank, which was established in 1967 as Korea’s first regional bank. For more information, please visit https://www.imbank.co.kr/

About Finger Inc. Group
Finger supplies and develops financial IT solutions to provide optimized money management strategies for employees and corporate customers. Providing “Smartphone Financial Services”, “Corporate Cash Management Services” for businesses, “Private Wealth Management Services” for private consumers.

Since the year 2000, Finger has accumulated a number of awards and patents regarding its businesses. Based on its Mobile Enterprise Application Platform(MEAP) Orchestra and its funds management system using screen-scrapping technologies, Finger was the first company in Korea to deliver a smartphone banking banking-service. For more information, please visit http://www.finger.co.kr/

About BTQ
BTQ Technologies Corp. (Nasdaq: BTQ | Cboe CA: BTQ) is a quantum technology company focused on accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio and deep technical expertise, BTQ is advancing a full-stack, neutral-atom quantum computing platform spanning hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense.

Connect with BTQ: Website | LinkedIn | X/Twitter

ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as “anticipate”, “intend”, “expect”, “plan” or “may” and the variations of these words are intended to identify forward-looking statements and information.

The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company’s research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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SOURCE BTQ Technologies Corp.

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Zimmer Biomet to Present at the BofA Securities 2026 Health Care Conference

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WARSAW, Ind., May 6, 2026 /PRNewswire/ — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced that members of the Zimmer Biomet management team will participate in the Bank of America Securities Health Care Conference on Wednesday, May 13, 2026, with a fireside chat at 8:40 a.m. PT (11:40 a.m. ET).

A live audio webcast can be accessed via Zimmer Biomet’s Investor Relations website at https://investor.zimmerbiomet.com. It will be available for replay following the fireside chat.

About Zimmer Biomet 
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.

With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation. 

For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow on LinkedIn at www.linkedin.com/company/zimmerbiomet or X at www.x.com/zimmerbiomet.

Contacts:

 

Media

Investors

Troy Kirkpatrick

David DeMartino

614-284-1926

646-531-6115

troy.kirkpatrick@zimmerbiomet.com

david.demartino@zimmerbiomet.com

Kirsten Fallon

Zach Weiner

781-779-5561

908-591-6955

kirsten.fallon@zimmerbiomet.com

zach.weiner@zimmerbiomet.com

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SOURCE Zimmer Biomet Holdings, Inc.

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NextLadder Ventures Announces Co-Founder Leadership Team, Investment Focus Areas For Over $1 Billion Initiative Empowering Americans with Personalized, Tech-Enabled Support Tools

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New senior hires from Google and The Collaborative Fund to lead product strategy and venture investing

Fund unveils first investment focus areas to catalyze new ‘Navigation Technology’ market, equipping Americans with cutting-edge tools to achieve economic security, opportunity and empowerment

ST. LOUIS, May 6, 2026 /PRNewswire/ — NextLadder Ventures, a new fund backed by more than $1 billion in capital, today announced its priority investment areas for building a new market for “Navigation Technology” (NavTech) — tools that provide Americans with personalized solutions to navigate life’s challenges and achieve greater economic mobility — and announced its co-founding team, including two new senior hires.

The fund’s active focus areas are based on extensive research identifying the key experiences and high-stakes decision points that have an outsized impact on American families’ economic mobility. Launched investment areas include financial health, career navigation, and benefits and social services access, with further exploration underway around housing, legal aid, justice and re-entry, and mental and physical health. 

The organization is also today welcoming two senior leaders: Lauren Loktev is joining NextLadder as Managing Director of Investments and Brigitte Hoyer Gosselink as Managing Director of Product. Loktev was most recently a partner at the Collaborative Fund, where she backed several breakout companies in early child development, education, and sustainability. Gosselink comes to NextLadder from Google, where she led the company’s AI and social impact portfolio. They join a growing team which has deep expertise at the intersection of economic mobility, technology, public policy, and philanthropy.

NextLadder’s Focus Areas for Investment

Today, the fund is kicking off a plan to deploy $1 billion over the next seven years to accelerate the design, development, and deployment of accessible NavTech tools that aim to help families more successfully navigate the major life experiences that determine whether they get ahead or fall behind. As NextLadder’s inaugural frontier AI lab partner, Anthropic is supporting the build-out of the organization’s AI-native capabilities and is offering technical assistance to NextLadder’s portfolio organizations. 

As an increasing proportion of Americans across income levels find themselves overextended and overwhelmed, NavTech tools are designed to help individuals and families understand their options, connect to information and resources, and take action to recover from a setback or take advantage of an opportunity and reclaim their economic futures.

“Life is getting harder, and too many Americans are stuck facing some of the most complex and consequential moments of their lives without much support,” said Ryan Rippel, CEO of NextLadder Ventures. “Every day, millions in this country face fork-in-the-road decisions that have major implications on whether they climb up the economic ladder or fall farther behind. AI has understandably intensified many Americans’ anxieties about their jobs and their security in the economy. But these technologies are now also making it possible to deliver highly personalized, affordable tools to meet the needs of tens of millions of Americans in a way that has never been practically achievable or financially viable before. With NavTech tools, built for the reality of families’ everyday experiences, we can empower Americans to overcome setbacks, navigate life’s toughest financial decisions, and build more secure futures.”

NavTech tools, built with the needs of individuals, families, and trusted community partners at the center of their design, have the potential to ease burdens most acutely faced by 90 million Americans who live in households that have difficulty in paying for usual home expenses, and turbocharge the capacity of the 1.6 million community workers in non-profit or local, state, and federal government roles who serve them. This growing category of digital technologies includes tools that help families access opportunities such as personalized financial advice and legal aid, get connected with available resources and programs, and manage unexpected hurdles like losing a job or facing an eviction – while freeing social workers and service providers to spend more time on people and less time on red tape and paperwork.

The fund’s active investment areas include:

Financial Health: Developing highly personalized, AI-powered financial health tools that can provide tailored, sustained counsel to help users build savings and protect and recover from financial shocks;
Career Navigation: Building tools to support career navigation, manage and support career transitions, and help workers, case managers, and employers identify pathways to living wage work — all designed to help people successfully find the right jobs for them.
Benefits & Social Services Access: Helping eligible Americans seamlessly identify and enroll in all the benefits and social services available to them, particularly those that support career navigation and transitions, help them navigate critical life moments, and achieve stability toward economic opportunity.

NextLadder is exploring additional focus areas, including housing, legal aid, justice and re-entry, caregiving, and mental and physical health. More on the organization’s vision of these focus areas is available HERE.

In addition to backing direct NavTech solutions, NextLadder is investing in the developers, partners, and standards required to build a durable, self-sustaining market. Across all focus areas, the fund is prioritizing efforts to ensure NavTech tools are reliable, protect users’ privacy, and are trusted by the families who depend on them.

NextLadder’s Co-Founder Leadership Team

NextLadder’s five co-founders will be CEO Ryan Rippel, Chief Strategy and Operations Officer Rhett Dornbach-Bender, Chief of Staff Callie Schwartz, and the two new senior hires: Managing Director of Investments Lauren Loktev and Managing Director of Product Brigitte Hoyer Gosselink, rounding out the fund’s expertise in investing, technology, and impact.

“We’re thrilled to welcome Lauren and Brigitte to the NextLadder team,” said Rippel. “Brigitte has spent her career proving that when applied purposefully, AI and technology can deliver meaningful benefits for communities, and she’ll set the bar for what NavTech tools can deliver for American families today and in the years to come. And with her deep experience backing mission-driven founders, Lauren is the perfect leader to build our venture practice from the ground up and accelerate the growth of the NavTech field. With this team in place, we’re positioned to make NavTech tools easier to build, fund, and access so they reach the people who need them most.”

Loktev brings 15 years of venture capital experience investing at the intersection of for-profit and for-good. Most recently at Collaborative Fund, she backed several companies to significant scale and launched Collab+Sesame, a first-of-its-kind thematic seed fund in partnership with Sesame Workshop focused on early childhood education. At NextLadder, she will build and lead the fund’s venture practice, sourcing and scaling investments in the founders building the next generation of NavTech tools.

“We have a once in a generation opportunity to help steer AI solutions toward those who need them most,” said Loktev. “Many amazing, accomplished founders see this too, and they are on a mission to build scalable, transformative businesses in the critical verticals that help people navigate life-changing moments. I couldn’t be more excited to join NextLadder and to support the most inspiring leaders building this market from the ground up. Thanks to our unique, long-term mandate, we can be creative and flexible in investing across stage and check size to partner with the entrepreneurs and leaders we believe will change the world.”

Prior to her role at NextLadder, Gosselink spent over a decade at Google in several roles including Director of AI and Social Impact, directing more than $500 million in funding for organizations applying AI to address challenges including crisis response, education, and economic opportunity. At NextLadder, she will lead AI and product strategy across the fund’s portfolio, backing solutions and setting market-wide standards for how NavTech tools are designed, evaluated, and improved over time.

“If we collectively harness the AI transformation strategically and purposefully, we can transform the way Americans are empowered to access greater economic mobility,” said Gosselink. “We believe that people-centered products, combined with shifts in the market and the services available to families, can fundamentally reshape how millions of Americans navigate critical moments and achieve prosperity on their own terms.”

To request interviews from the NextLadder Ventures leadership team, contact media@nextladder.com.

About NextLadder Ventures

NextLadder Ventures is a time-bound venture with one goal: empower millions of Americans to reach their potential by 2040. Backed by over $1 billion in capital, the organization invests in breakthrough technologies that remove barriers to economic success and put people in control of their futures. NextLadder Ventures is trailblazing a new market for tech-enabled Navigation Technology tools that help people access the resources they need to navigate pivotal moments — offering flexible, risk-tolerant capital to entrepreneurs building these transformative tools today, while creating a pipeline of tech, talent, and capital for the long run.

View original content:https://www.prnewswire.com/news-releases/nextladder-ventures-announces-co-founder-leadership-team-investment-focus-areas-for-over-1-billion-initiative-empowering-americans-with-personalized-tech-enabled-support-tools-302764095.html

SOURCE NextLadder Ventures

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