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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 announced a $5 million convertible note private placement to accelerate agent and transaction growth. The company sold senior secured convertible promissory notes to an existing shareholder and the chairman of the Board of Directors. Key details include:
- Interest rate: Monthly average SOFR + 4% per annum (minimum 8%)
- Conversion price: $4.25 per share (85% premium above last reported sale price)
- Maturity date: October 1, 2026
- Quarterly interest payments starting October 1, 2025
CEO Marco Fregenal stated that this capital will help fast-track plans for agent and transaction growth, focusing on targeted walkovers and acquisitions. The demand for Fathom's revenue share model across agent fee plans demonstrates the company's momentum.
Fathom Realty, a subsidiary of Fathom Holdings Inc. (Nasdaq: FTHM), has been named the top real estate company for agent satisfaction among the nation's 40 largest real estate companies by Career.io. The study analyzed over 755,000 job reviews, with Fathom Realty earning the highest Glassdoor rating in the industry.
Key factors contributing to Fathom's top ranking include:
- Agent-centric business model with innovative compensation plans
- Comprehensive training and leadership support
- Cutting-edge technology for streamlined operations
- Collaborative culture prioritizing teamwork and servant leadership
This recognition underscores Fathom's commitment to creating a supportive environment for agents and employees, which in turn drives the company's success and growth.
Fathom Realty, a subsidiary of Fathom Holdings Inc. (Nasdaq: FTHM), has reached a nationwide settlement related to claims in the Burnett v. The National Association of Realtors lawsuit. The company will pay a total of $2.95 million in three installments: $500,000 within 5 days of court approval, $500,000 by October 1, 2025, and $1.95 million by October 1, 2026. Fathom Realty has also agreed to adhere to rule changes proposed by the National Association of REALTORS.
CEO Marco Fregenal emphasized that this settlement is not an admission of liability or acknowledgment of claim validity. The company maintains it never participated in any conspiracy to inflate commissions. The settlement aims to avoid ongoing legal fees and allow the executive team to focus on business growth and agent support.
Fathom Holdings Inc. (Nasdaq: FTHM), a national technology-driven real estate services platform, is set to present at the 2024 Annual Gateway Conference in San Francisco. CEO Marco Fregenal will deliver a presentation on September 4, 2024, at 8:30 a.m. PT. The event will be held at the Four Seasons Hotel from September 4-5.
Investors can access a live webcast of the presentation, with a replay option available. Fregenal will also conduct one-on-one meetings with investors and analysts on the same day. This conference provides Fathom an opportunity to showcase its integrated services, including residential brokerage, mortgage, title, and SaaS offerings for brokerages and agents.
Fathom Holdings Inc. (FTHM) reported Q2 2024 results, showing a 12% growth in its real estate agent network to ~12,224 agent licenses. Despite an 8% decrease in transactions, the company achieved overall positive Adjusted EBITDA for the quarter. Total revenue decreased 11% to $89.2 million, with brokerage revenue down 12%. GAAP net loss improved to $1.3 million ($0.07 per share) from $4.3 million in Q2 2023. Fathom launched new revenue share models and sold its insurance business for $15 million. The company aims to return to 30% agent growth in coming quarters but has withheld Q3 2024 guidance due to the uncertain impact of new revenue share models.
Fathom Holdings Inc. (FTHM) has introduced two new agent commission plans: Fathom Max and Fathom Share. These plans, along with the current One plan, feature an innovative revenue share program designed to enhance agent recruitment and retention while promoting growth and profitability. The Fathom Max plan offers a reduced transaction fee of $465 with a $9,000 annual cap, improving gross profit potential compared to the legacy One plan. The Fathom Share plan features a 12% commission split with a $12,000 annual cap, providing twice the revenue share opportunity over the Max plan.
CEO Marco Fregenal stated that these new plans reaffirm Fathom's commitment to providing superior value to agents while fostering organizational profitability. The company aims to attract top talent and drive sustained growth by offering flexibility and lucrative growth opportunities.
Fathom Holdings Inc. (FTHM) announced that Samantha Giuggio, Chief Operations Officer of Fathom Realty, has been named to HousingWire's 2024 Women of Influence list. This recognition celebrates her significant contributions to Fathom and the real estate industry. Under Giuggio's leadership, Fathom Realty has become the 9th largest U.S. brokerage by closed transaction sides in 2023.
Giuggio leads a nationwide team of nearly 12,000 agents and local leaders, focusing on Fathom's culture of service and exceptional transaction experiences. Her role includes overseeing brokerage operations and spearheading agent and leader recruiting. Fathom's CEO, Marco Fregenal, praised Giuggio's visionary approach and her impact on the company's success and culture.
Fathom Holdings Inc. (Nasdaq: FTHM), a national, technology-driven, end-to-end real estate services platform, has scheduled its second quarter 2024 earnings conference call for Monday, August 12, 2024, at 5:00 p.m. ET. The company will discuss financial results for the quarter ended June 30, 2024, which will be released in a press release before the call.
Investors can access the call via U.S. dial-in at 1-833-685-0908 or international dial-in at 1-412-317-5742. A live audio webcast will be available on Fathom's investor relations website. A telephone replay will be accessible through August 19, 2024, using the replay access code 6483169.
Fathom Holdings' subsidiary, Verus Title, has acquired Utah-based title insurance agency LW Traveling Title, marking an expansion into Utah, Colorado, and Virginia. The acquisition involves nine team members and aims to leverage Verus' technology and service prowess to enhance real estate services in these regions. The strategic move emphasizes Fathom's commitment to providing comprehensive real estate solutions. The integration is expected to facilitate growth and improved service delivery, with REMA assisting in the transaction.
Fathom Holdings announced the appointment of Jon Gwin as the new Chief Operating Officer (COO) on May 28, 2024. Gwin brings over 20 years of leadership experience in legal, compliance, and sales roles within the securities, insurance, mortgage, and real estate sectors. He has held executive roles at American Financial Network, Wachovia Bank, Wells Fargo Bank, and Accredited Home Lenders, contributing significantly to major milestones like the #1 IPO on Wall Street in 2003 and funding over $13 billion in mortgage production at American Financial Network.
Gwin is expected to drive Fathom's growth and innovation across its various brands, leveraging his extensive background in the industry. He holds degrees in Business Administration and Law and has been recognized as one of the forty most influential mortgage professionals under forty by National Mortgage Professional Magazine.
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