Compression joints don't need the threads sealing - if you've got water getting past the olive and onto the thread, you've got a bigger problem than a bit of PTFE tape is going to solve.
Though I would say that a bit of tape does generally make the job of getting the joints tightened up easier. The absolutely critical thing with compression joints is ensuring that the pipe end is clean (no burrs) and undistorted, that the olive is sitting squarely on the pipe, and that the pipe is squarely located into the fitting. And, obviously, not mullering it to fuck when you start tightening up the joint.