However, one important characteristic of these amplifiers, gain compression, has not received much attention. As a result, there is a lack of comprehensive experimental exploration of this phenomenon in the existing literature. In this study, we present an experimental investigation of gain compression in a Josephson traveling-wave parametric amplifier based on a four-wave mixing process. We have implemented a novel setup to monitor the complex transmission of both the pump and signal tones, which allows us to simultaneously track pump depletion and signal amplification as functions of signal power and frequency across the entire bandwidth of the device. Our findings indicate that, while pump depletion occurs during gain compression, it is not the only mechanism involved in the saturation of a TWPA. Power-induced phase-matching processes also take place within the device. This study provides valuable insights for optimizing TWPAs for applications that require high total input power, such as multiplexed qubit readout or broadband photon emission.