Welcome to our dedicated page for Fathom Holdings news (Ticker: FTHM), a resource for investors and traders seeking the latest updates and insights on Fathom Holdings stock.
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 its participation in two upcoming investor conferences in March 2022. On March 10, CEO Joshua Harley and CFO Marco Fregenal will hold one-on-one meetings at D.A. Davidson's 5th Annual Consumer Growth Conference, which will be virtual. Following this, on March 14 at 8:30am PT, they will engage in a fireside chat at the 34th Annual Roth Conference, with the session being webcast live. Additionally, Harley will join a panel on 'IPO Readiness' that same day.
Fathom Holdings Inc. (Nasdaq: FTHM) plans to release its financial results for the fourth quarter and full year of 2021 after market close on March 8, 2022. The company provides a national, technology-driven platform for real estate services, integrating residential brokerage, mortgage, title, insurance, and SaaS solutions. Following the earnings report, an investor conference call is scheduled for 5:00 p.m. ET that same day, allowing investors to discuss the results and future outlook.
Fathom Holdings (NASDAQ: FTHM) announced its subsidiary, Encompass Lending Group, has acquired Cornerstone First Financial, a residential mortgage lender based in Washington, D.C. The acquisition is expected to be immediately accretive, enhancing Fathom's technology-driven real estate services platform. Cornerstone First Financial specializes in various lending solutions, operating in key U.S. markets. CEO Josh Harley emphasized the opportunity for new lead generation strategies and significant growth in mortgage business following the acquisition.
Fathom Holdings Inc. (NASDAQ: FTHM) has acquired Utah-based iPro Realty Network, a full-service residential brokerage with approximately 435 agents. The transaction is expected to be immediately accretive, enhancing Fathom's market presence in Utah's rapidly growing real estate market. In 2021, iPro generated over $1.25 billion in residential sales volume across more than 2,900 transactions. This acquisition aligns with Fathom's strategy to expand its operations across all 50 states.
Fathom Realty LLC, a subsidiary of Fathom Holdings Inc. (Nasdaq: FTHM), launched intelliAgent 2.0 on January 25, 2022. This all-in-one technology platform aims to enhance brokerage operations and agent transaction management. Available free to agents from February 9, 2022, the platform includes a sophisticated CRM, marketing resources, and customizable property market reports. CEO Josh Harley emphasized that this iteration allows agents to leverage advanced tools while reducing costs. The rollout aims to attract more agents, increase revenues, and reduce operational expenses.
Fathom Realty LLC, a subsidiary of Fathom Holdings Inc. (Nasdaq: FTHM), announced a revised commission structure for its agents, effective January 1, 2022. The annual fee will rise to $600 from $500, and the transaction fee for the first 12 completed transactions will increase to $500 each, up from $450. The $99 fee for transactions beyond the initial 12 remains unchanged. The CEO emphasized that this small fee increase, the first in five years, aims to enhance services and attract more agents, which aligns with Fathom's agent-centric approach.
Fathom Realty, a subsidiary of Fathom Holdings (Nasdaq: FTHM), launched Fathom Academy, an AI-driven e-learning platform designed to enhance agent training and productivity. Integrated with intelliAgent, the Academy offers over 150 online courses, live webinars, and collaboration tools aimed at improving agent efficiency. Founder Josh Harley emphasized the platform's role in aligning with Fathom's servant-leadership philosophy. Agents can personalize their learning experience, track progress, and access training relevant to local real estate markets.
Fathom Holdings Inc. (Nasdaq: FTHM) announced its participation in two upcoming investor conferences in December 2021. Joshua Harley, Founder and CEO, and Marco Fregenal, President and CFO, will present at the Stephens Investment Conference on December 1 in Nashville, Tennessee, and will also conduct one-on-one meetings with investors. Additionally, Harley will attend the Roth Capital Partners Deer Valley Event on December 10 in Park City, Utah. The events will significantly enhance investor engagement for the technology-driven real estate services platform.
Fathom Realty, a subsidiary of Fathom Holdings Inc. (Nasdaq: FTHM), has welcomed the Woodhouse Group, adding approximately 50 agents in Idaho. This integration increases Fathom's agent count in the region to nearly 400, enhancing its market presence. The company aims to support agents through a flat-fee commission model and advanced technology. Additionally, Mary Smith has been appointed as District Director in Boise to further bolster agent growth and support. Fathom continues to expand its service offerings, including mortgage and title services, enhancing its competitive edge in the real estate market.
Fathom Holdings Inc. (Nasdaq: FTHM) has successfully closed its underwritten public offering of 1,750,000 shares, priced at $25.00 per share, resulting in net proceeds of approximately $32.7 million. The offering included 350,000 secondary shares and a 45-day option for underwriters to purchase up to an additional 15% of the shares. CEO Joshua Harley stated the funds will primarily be used for growth through acquisitions of smaller real estate brokerages, enhancing revenue per transaction, and investments in technology and marketing.
FAQ
What is the current stock price of Fathom Holdings (FTHM)?
What is the market cap of Fathom Holdings (FTHM)?
What services does Fathom Holdings Inc. provide?
What is intelliAgent?
What is Fathom Realty known for?
What recent expansion has Fathom Realty undertaken?
How did Fathom Holdings perform financially in 2023?
What is Verus Title Elite Texas LLC?
Why did Fathom Holdings sell Dagley Insurance?
What is the leadership philosophy of Fathom Holdings?
How is Fathom Holdings positioned for future growth?
How can I get more information about Fathom Holdings?
