Fathom Holdings Inc ( (FTHM) ) has released its Q4 earnings. Here is a breakdown of the information Fathom Holdings Inc presented to its investors.
Fathom Holdings Inc. is a technology-driven, end-to-end real estate services platform that integrates residential brokerage, mortgage, title, and SaaS offerings, catering to brokerages and agents across the United States.
In its latest earnings report, Fathom Holdings Inc. announced a 24% increase in revenue year-over-year for the fourth quarter of 2024, despite facing challenges in the residential real estate market due to rising interest rates and one-time expenses. The company also highlighted a significant 59% rise in gross profit for its core business.
Key financial metrics from the fourth quarter of 2024 include a total revenue of $91.7 million, with brokerage revenue increasing by 26.3% and title revenue surging by 92%. However, the company reported a GAAP net loss of $6.2 million for the quarter, which was an improvement from the previous year’s loss. For the full year, Fathom’s revenue decreased by 3% to $335 million, and the net loss was reduced to $21.6 million from $24 million in 2023.
Strategically, Fathom Holdings made several moves in 2024, including the acquisition of My Home Group, which expanded its presence in Arizona and Washington, and the launch of Verus Title Elite, a joint venture aimed at enhancing profitability. The company also introduced new agent commission plans to boost recruitment and retention.
Looking ahead, Fathom Holdings remains optimistic about reaching EBITDA positive by the second quarter of 2025, driven by increased revenues from acquisitions and cost reductions. The company aims to return to its historical 25% annual revenue growth, supported by higher gross profits from ancillary services and ongoing innovation in its offerings.