Compass Posts Lower Losses Despite Missing EBITDA Target, Driven by Growing Recurring Revenue and Cost Cuts
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Recurring Revenue Up 29% Achieved a record $65 million in recurring revenue, a 29% increase year-over-year.
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Reduced Net Loss Lowered net loss to $323.3 million for the year ended December 31, 2023.
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Record Adjusted EBITDA Despite missing positive target, recorded best ever adjusted EBITDA performance.
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Lower Cost Structure Implemented measures to enhance long-term resilience through lower cost structure.
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Cash Position Stable Ended the year with $83.8 million in cash and cash equivalents.