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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 has announced that Amanda Langford, Vice President of Human Resources, has been appointed to the SHRM Executive Network, a community of senior HR leaders. Amanda, who became VP in August 2022, has been with Fathom since 2021 and previously worked at Encompass Lending Group. Amanda expressed her commitment to leveraging this opportunity to enhance Fathom's HR initiatives. SHRM, a global authority on workplace issues, has over 340,000 members worldwide. Fathom's CEO, Marco Fregenal, praised Amanda's leadership and contributions.
Fathom Holdings Inc. (Nasdaq: FTHM) reported financial results for the first quarter of 2024, noting progress towards its 2024 goals. Despite a decrease in real estate transactions, total revenue declined by 9.0% to $70.5 million. The company's gross margin increased to 10.3%, positioning it well for positive EBITDA and operational cash flow. Fathom's net loss was $5.9 million for the quarter, with technology and development expenses rising. The company remains committed to achieving and remaining Adjusted EBITDA positive.
Fathom Holdings Inc. (Nasdaq: FTHM) will participate in the 24th Annual B. Riley Securities Institutional Investor Conference where CEO Marco Fregenal will present on May 22, 2024. The company is a technology-driven real estate services platform offering various services to brokerages and agents.
Fathom Holdings Inc. announced the divestiture of Dagley Insurance to DIA founder Nathan Dagley for $15 million, with $8 million paid at closing and $7 million over 24 months. The proceeds will enhance Fathom's financial position and support growth initiatives. Dagley Insurance will maintain its collaboration with Fathom Realty agents across 47 states, ensuring continuity of service.
Fathom Holdings Inc. (Nasdaq: FTHM) will hold a conference call on May 9, 2024, to discuss its first-quarter financial results. The company integrates real estate services like brokerage, mortgage, title, insurance, and SaaS offerings for brokerages and agents. The call will be live-streamed on the company's website, with a replay available until May 16, 2024.
Fathom Holdings Inc. (Nasdaq: FTHM) celebrates the success of Fathom Serves initiative, an upcoming event where Fathom Realty agents and staff will volunteer in their local communities and charitable organizations from June 3 to 8, 2024. The event exemplifies Fathom's commitment to community involvement and servant leadership, following the success of the inaugural Fathom Serves event in August 2023.
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