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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 (FTHM) reported preliminary financial results for 2022, showing a total revenue between $411.0 million and $413.0 million, up 24% to 25% from $330.2 million in 2021. The company completed approximately 44,700 transactions, a 14% increase, while its agent network grew by 28% to 10,370 agents. However, the GAAP net loss for 2022 is projected at $28.6 million to $27.6 million, up from $12.5 million in 2021, largely due to rising interest rates. Fathom aims to reach breakeven Adjusted EBITDA in Q2 2023 and generate positive cash flow by Q3 2023.
Fathom Realty, LLC, a subsidiary of Fathom Holdings (Nasdaq: FTHM), has improved its ranking in RISMedia's annual Power Broker Report, moving from 16th to 12th in sales volume among the nation's top 100 residential brokerage firms for 2022. The company also ranked 10th in total transactions, closing 44,707 deals, reflecting a 16% year-over-year growth.
Despite a challenging market marked by high inflation and rising interest rates, Fathom Realty's performance indicates resilience and adaptability. The real estate sector reported over $110 billion in reduced sales volume collectively for 2022, highlighting a significant market contraction.
Fathom Holdings Inc. (NASDAQ: FTHM) announced a conference call to discuss its fourth quarter and full year financial results for 2022 on March 22, 2023, at 5:00 p.m. ET. The results will be released prior to the call. Interested parties can join the call by dialing 833-685-0908 (U.S.) or 412-317-5742 (international). A live audio webcast will be available on the company's investor relations website. The replay will be accessible until March 29, 2023. Fathom Holdings integrates multiple real estate services, leveraging its proprietary technology platform, intelliAgent.
Fathom Holdings Inc. (NASDAQ: FTHM) announced its participation in the 35th Annual Roth Conference, set to take place at The Ritz Carlton in Laguna Niguel, CA on March 13-14, 2023. Fathom's CEO Joshua Harley and CFO Marco Fregenal will engage in one-on-one meetings with institutional investors during this event. Fathom is a technology-driven real estate services platform that integrates various services including residential brokerage, mortgage, and insurance. For inquiries regarding the conference or to schedule meetings, contact Fathom's investor relations team.
Fathom Holdings (Nasdaq: FTHM) has appointed Gateway Group to enhance its investor relations strategy. The partnership aims to refine messaging, improve corporate positioning, and connect with institutional investors. Fathom, a technology-driven real estate platform, is focused on becoming a leading brokerage in the U.S., targeting adjusted EBITDA profitability in early 2023. CEO Joshua Harley emphasized the importance of proactive communication regarding the company's growth strategy. Fathom will participate in the 25th Annual Needham Growth Conference on January 10-11, 2023, engaging with investors.
Fathom Holdings Inc. (Nasdaq: FTHM) has been recognized as one of the top places to work by The Dallas Morning News for the sixth consecutive year. This accolade highlights the company's positive work culture, which is valued by its agents for allowing them to operate independently and retain more of their commissions. Operating in 38 states and with over 2,300 agents in the Dallas-Fort Worth area, Fathom offers agents 100% commission, advanced technology, and extensive support. The rankings are based on survey results from various businesses in the region.
Fathom Holdings (FTHM) reported a 10.2% revenue increase in Q3 2022, totaling $111.3 million, compared to $100.9 million last year. The company completed 12,077 real estate transactions, up 5% year-over-year, with a 33% growth in agent network to 9,991. Despite these gains, Fathom had a GAAP net loss of $6.0 million, up from $3.4 million YoY. The firm aims for Adjusted EBITDA breakeven in H1 2023 and cash flow breakeven in Q3 2023, while implementing cost cuts of $1.5 million per quarter.
Fathom Holdings Inc. (Nasdaq: FTHM) announced its participation in the Stephens Annual Investment Conference on November 16 in Nashville. Joshua Harley, the company's Founder and CEO, along with Marco Fregenal, President and CFO, will engage in a fireside chat at 1:00 p.m. CT and hold one-on-one investor meetings throughout the day. The fireside chat will be available for live streaming on Fathom's investor relations website and archived for 90 days. Fathom specializes in technology-driven real estate services, integrating various offerings for agents and brokerages.
Fathom Holdings Inc. (Nasdaq: FTHM) will announce its 2022 third quarter financial results on November 7, 2022, after market close. This technology-driven real estate services platform integrates residential brokerage, mortgage, title, insurance, and SaaS offerings. An investor conference call is scheduled for the same day at 5:00 p.m. ET. For more details, visit www.FathomInc.com.
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