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Fathom Holdings Inc. (Nasdaq: FTHM) is a national, technology-driven real estate services platform. The company integrates residential brokerage, mortgage, title, insurance, and Software as a Service (SaaS) offerings for brokerages and agents through its proprietary cloud-based software, intelliAgent. This comprehensive suite of services is designed to provide unparalleled support to real estate professionals, helping them streamline operations and enhance productivity.
The company operates through three main segments: Real Estate Brokerage, Mortgage, and Technology. Key brands under its umbrella include Fathom Realty, Dagley Insurance, Encompass Lending, LiveBy, Real Results, and Verus Title. These brands work cohesively to offer a full spectrum of services, from brokerage and insurance to lending and SaaS solutions.
Fathom Realty is known for its agent-centric approach, providing exceptional support, superior technology, effective training programs, and competitive commission plans. Their leadership philosophy, inspired by the principle “whoever wants to be great must become a servant” (Matthew 20:26), emphasizes a servant-first mindset.
Recent achievements include the expansion of Fathom Realty's operations in California through the addition of Divine Properties Group, a San Francisco-based real estate team, which aligns with Fathom's mission to foster collaboration and provide top-notch support to agents nationwide.
Financially, Fathom Holdings has shown resilience despite industry challenges. The company reported a 13.7% growth in its real estate agent network in 2023, with a notable increase in ancillary services revenue, particularly from its mortgage segment. Despite a decline in total revenue due to market conditions, Fathom has implemented strategic cost-saving measures and continues to focus on achieving profitable growth.
One of the latest strategic moves includes the establishment of Verus Title Elite Texas LLC, a joint venture aimed at enhancing the closing experience for agents and clients in Texas. This model is expected to expand across more states, increasing revenue and profitability for Verus and Fathom.
In addition to its business operations, Fathom recently sold Dagley Insurance to its founder Nathan Dagley for $15 million, a move that will strengthen the company's financial position and support further growth initiatives. Despite the divestiture, Dagley Insurance will continue to support the Fathom Realty agent network, ensuring continued high-quality service offerings.
Fathom Holdings continues to innovate and expand its services, positioning itself as a leader in the real estate services industry. For more information, visit FathomInc.com.
Fathom Holdings Inc. (Nasdaq: FTHM) has been recognized as the second-best large company to work for by The Dallas Morning News for the fourth consecutive year. This accolade reflects the company’s commitment to a culture of inclusion, ethics, and service. Fathom Realty, its cloud-based subsidiary, offers agents competitive compensation and support, enabling them to thrive in a competitive market. The rankings were based on survey results from various businesses in the Dallas-Fort Worth area, highlighting Fathom's strong agent satisfaction.
Fathom Holdings (FTHM) reported third-quarter 2020 revenue of $55.8 million, up 74% from $32.1 million year-over-year. The company completed approximately 8,100 real estate transactions, a 56% increase from last year. Average revenue per transaction rose 12% to $6,895. The GAAP net loss narrowed to $184,000, or $0.02 per share, compared to a loss of $239,000 the previous year. Adjusted EBITDA improved to $5,800 from a loss of $170,000. The company's agent network grew to 5,026 agents, up 38% year-over-year.
Fathom Holdings Inc. (Nasdaq: FTHM) has signed a definitive agreement to acquire Verus Title Inc., enhancing its residential real estate offerings with title insurance services. This acquisition is expected to be immediately accretive and will be completed in Q4 2020, with Verus Title operating as a subsidiary under its current management. Verus Title, based in North Carolina, employs a technology-driven model and operates in 19 states. The acquisition aims to streamline processes for real estate agents and improve service efficiency.
Fathom Holdings Inc. (Nasdaq: FTHM) is set to release its 2020 Q3 financial results on November 11, 2020, after market close. An investor conference call will occur the same day at 5:00 p.m. ET. The company operates through its subsidiary, Fathom Realty, which focuses on a cloud-based real estate brokerage model, offering agents 100% commission with low transaction fees. Investors can access the call via phone or webcast, with replay available until November 18, 2020.
Fathom Holdings Inc. (Nasdaq: FTHM) has expanded into the Oklahoma and West Virginia markets, bringing its operational reach to 26 states and 112 local markets. In Oklahoma, the focus is on Tulsa and Oklahoma City, capitalizing on a favorable housing market. West Virginia's expansion includes consolidating a local brokerage in Lewisburg. CEO Joshua Harley emphasized efficient market entry and a unique commission structure that supports agent income and growth. This strategy aims to enhance Fathom's national agent network and drive long-term growth.
Fathom Holdings Inc. (Nasdaq: FTHM) announced the appointment of Russell Laggan as Vice President of Recruiting, a new role aimed at enhancing the growth of its national agent network. Laggan's hiring aligns with Fathom’s 39% increase in agent growth during Q2 2020, significantly outperforming other real estate brokerages. He will oversee the 'Talent Acquisition' initiative, managing a dedicated team to attract agents nationwide. Laggan brings extensive experience from previous roles and has a history of recruiting hundreds of agents, signifying potential for continued expansion.
Fathom Holdings Inc. (Nasdaq: FTHM), a technology-driven real estate brokerage, has promoted DeJane Kerr to Vice President of Brokerage Operations. With over ten years experience at Fathom, Kerr will enhance operations and support for the expanding agent network. Since joining in 2010 as a licensed broker, she has significantly contributed to training and compliance. CEO Joshua Harley praised her impact on agent productivity and growth objectives. Fathom offers a cloud-based brokerage model, enabling agents to benefit from 100% commissions and robust training.
Fathom Holdings (Nasdaq: FTHM) reported strong financial results for Q2 2020, with a 39% increase in revenue to $38.7 million compared to last year, despite COVID-19 challenges. The company completed 5,848 real estate transactions, a 31% rise year-over-year, and its agent network grew by 39% to 4,554 agents. Net income reached $161,000 or $0.02 per share, reversing last year's losses. For H1 2020, total revenue rose 47% to $67.5 million, with notable improvements in cash reserves and adjusted EBITDA.
Fathom Holdings Inc. (Nasdaq: FTHM) will announce its 2020 second quarter financial results on August 18, 2020, after market close, ahead of the September deadline for newly public companies. The conference call is scheduled for 2:00 p.m. PDT/5:00 p.m. EDT, providing investors with insights into the company's performance. Fathom, a cloud-based real estate brokerage, recently went public on July 31, 2020, and aims to leverage its technology-driven platform to enhance operational efficiency and commission structures.
Fathom Holdings Inc. (Nasdaq: FTHM) has appointed Grady Ligon as Chief Technology Officer of its subsidiary, intelliAgent, LLC, effective August 6, 2020. With over 13 years of experience in real estate technology, Ligon is tasked with enhancing intelliAgent, a proprietary SaaS platform that streamlines real estate transactions. CEO Joshua Harley highlighted Ligon's expertise in driving technological advancements to improve operational efficiency. Ligon previously served as CIO at HSF Affiliates and holds a BBA in Information Systems from Baylor University.
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