Does the moto360 have Compass?? topic

Hi,
I really like the idea of having compass on my Moto360, and was quite happy to see that Watch maker for example, provide compass feature.
I actually installed few faces with compass, but most of them or does not work at all, or work one in ten times of use.
I open discussion in one of Google+ related groups, and someone said that actually, the moto360 does not have compass in the unit,
therefore, it is mostly software solution that works from time to time.

Can someone confirm this issue, and in case this should work, advise what is needed to do in order to have it running properly?

Thanks,
Tomer