On this page of StockholderLetter.com we present the latest annual shareholder letter from COMPASS Pathways plc — ticker symbol CMPS. Reading current and past CMPS letters to shareholders can bring important insights into the investment thesis.

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CMPS Shareholder/Stockholder Letter Transcript:

COMPASS Pathways plc
2023 Annual Report

Registered number: 12696098
COMPASS PATHWAYS PLC
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023

COMPASS PATHWAYS PLC

INTRODUCTION AND CONTENTS
Compass Pathways plc (   the Company   , or    the Parent Company   ) is a public company limited by
shares and incorporated under the laws of England and Wales and is listed on the Nasdaq Global
Select Market. "The Group" consists of the Company with its subsidiaries. This section therefore
covers the requirements for being a quoted company under the UK Companies Act 2006, as follows:
Company Information
Certain note disclosures relevant to the Group financial statements
Independent auditors    reports to the members of Compass Pathways plc on
the Group and Parent Company Financial Statements
Strategic Report
Directors    Report
Statement of Directors    Responsibilities in Respect of the Financial
Statements
Page
2
3
5
17
21
24
Directors    Remuneration Report
25
Company Financial Statements
Annual Report on Form 10-K
56
70
The    Annual Report   , as mentioned throughout these financial documents, is comprised of the reports
listed above including the Annual Report on Form 10-K (the    Form 10-K   ).
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COMPASS PATHWAYS PLC

COMPANY INFORMATION
Directors
Kabir Nath
George Goldsmith
Ekaterina Malievskaia, M.D., MScPH.
Annalisa Jenkins, MBBS, FRCP
Daphne Karydas (appointed on 18 September 2023)
Thomas L  nngren
Linda McGoldrick
Robert McQuade, PhD
David York Norton
Wayne Riley
Company secretary
Ben Harber
Registered number
12696098
Registered office
3rd Floor
1 Ashley Road
Altrincham
Cheshire
United Kingdom
WA14 2DT
Independent auditors
PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
3 Forbury Place
23 Forbury Road
Reading
Berkshire
RG1 3JH
2

COMPASS PATHWAYS PLC

CERTAIN NOTE DISCLOSURES RELEVANT TO THE GROUP FINANCIAL STATEMENTS
Basis of Preparation
Compass Pathways plc was incorporated on 14 September 2020. The consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of
America (   U.S. GAAP   ), as permitted by Statutory Instrument 2015 No. 1675,    The Accounting Standards
(Prescribed Bodies) (United States of America and Japan) (Amendment) Regulations 2015    and now
amended by "The Accounting Standards (Prescribed Bodies) (United States of America and Japan)
(Amendment) Regulations 2023' (SI 2023/975)" and in accordance with the UK Companies Act 2006. The
Group financial statements comprise both the Consolidated Financial Statements of Compass Pathways
plc on Form 10-K and the certain note disclosures relevant to the Group financial statements. This is the
final year for which Compass Pathways plc may prepare financial statements under the 2023
Regulations.
Statutory Disclosure Requirements
(i) Monthly average number of people employed:
Group
UK
General & Administration
Research & Development
Total UK employees
Offshore*
General & Administration
Research & Development
Total Offshore employees
2023
2022
Total employees
35
92
127
34
74
108
11
48
59
8
35
43
186
151
*Relates to employees located in the United States.
(ii) Employee costs:
Group
2023
2022
US $   000
US $   000
Salaries and bonuses
33,098
25,281
Share-based compensation expense
17,277
13,123
Benefits*
2,825
1,913
Social insurance and social security costs
2,586
2,434
55,786
42,751
Total employee costs
*Includes private medical insurance, life assurance, income protection and employer pension
contributions.
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 4/8/2024 Letter Continued (Full PDF)