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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 announced a stronger than expected financial performance for Q2 2022, with total revenue exceeding $128.2 million, a growth of 52% year-over-year. The company's real estate transactions increased by 32%, with its agent network expanding by 38% to around 9,560 agents. Despite a net loss of $5.7 million for the quarter due to rising interest rates affecting its mortgage segment, Fathom's real estate segment achieved profitability for the fifth consecutive quarter. The company anticipates Q3 revenue between $105 million and $110 million and full-year revenue of $425 million to $435 million.
Fathom Holdings Inc. (NASDAQ: FTHM) announced it will release its 2022 second quarter financial results on August 4, 2022, after market close. An investor conference call is scheduled for the same day at 5:00 p.m. ET. The company is a technology-driven real estate services platform integrating various offerings such as residential brokerage, mortgage, title, and insurance. The results will be accessible through a webcast and replay options are available until August 11, 2022.
Fathom Holdings Inc. (Nasdaq: FTHM) announced that its Chief Strategy Officer, Wendy Forsythe, has been recognized as a 2022 Marketing Leader by HousingWire for her impactful contributions to the housing economy. Forsythe joined Fathom in 2019 and became Chief Strategy Officer in January 2022, focusing on strategic initiatives, marketing, and growth. Her recognition highlights her professional achievements and influence within the industry. CEO Josh Harley praised her as a vital asset to Fathom's growth, emphasizing the company's mission to empower agents in the residential real estate market.
Fathom Holdings Inc. (Nasdaq: FTHM) has launched a new veteran division aimed at providing specialized resources and support for military personnel and their families. This initiative offers opportunities for current and former service members, including targeted lead generation, tuition reimbursement, and a referral network. The division will also provide marketing materials to enhance visibility for veteran agents. Fathom’s CEO, Josh Harley, emphasized the company’s commitment to supporting its veteran workforce and clients, aligning with values of service and dedication.
Fathom Holdings Inc. (FTHM) reported a strong first quarter of 2022 with total revenue reaching $90.1 million, an 81.4% increase from the previous year. The real estate agent network grew by 49%, totaling 9,006 agents. The company raised its full-year revenue guidance to $445-$455 million. Despite a GAAP net loss of $6.0 million, Fathom remains optimistic about continued growth, citing investments and operational efficiency. Their cash balance decreased to $30.5 million due to acquisitions and share repurchases, but they expect a rebound in Adjusted EBITDA moving forward.
Fathom Holdings Inc. (Nasdaq: FTHM) has announced plans to release its Q1 2022 financial results after market close on May 4, 2022. The company will also host a conference call for investors on the same day at 5:00 PM ET. Fathom integrates services such as residential brokerage, mortgage, title, and insurance, utilizing its technology-driven platform. This marks an important date for investors looking for insights into the company's financial performance and future outlook.
Fathom Realty, a subsidiary of Fathom Holdings (Nasdaq: FTHM), achieved a remarkable 52% growth in transactions from 2020 to 2021, securing the 6th position in The RealTrends 500 Largest Independent Brokerage ranking, up from 9th in 2020. Additionally, the firm ranked 8th among the top movers, reflecting significant growth in transaction closures. CEO Joshua Harley highlighted the company's unique offerings, including a 100% commission model and stock ownership program, emphasizing resilience amid economic challenges. Fathom Realty operates in 36 states and the District of Columbia with over 8,000 agents.
Fathom Holdings Inc. (Nasdaq: FTHM) has authorized a share repurchase program totaling $10.0 million to buy back outstanding common stock. This move is seen as a show of confidence in the company’s strong business momentum and growth prospects. CEO Joshua Harley emphasized that the repurchase reflects a disciplined approach to capital allocation, allowing the company to continue its growth strategy. The program permits repurchases through various methods without a fixed expiration, contingent on market conditions and compliance requirements.
Fathom Holdings reported a 79% increase in fourth-quarter revenue for 2021, totaling $95.5 million compared to $53.4 million in Q4 2020. The company completed approximately 10,800 real estate transactions, a 43% rise year-over-year, and grew its agent network by 48% to 8,100 agents. GAAP net loss for Q4 was $3.6 million, or $0.24 per share, reflecting increased operational costs. Full-year revenue reached $330.2 million, an 87% growth, while total net loss for 2021 was $12.5 million. The guidance for 2022 projects revenue between $425 - $435 million.
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