Fathom Holdings Inc Stock Price, News & Analysis

Fathom Holdings (Nasdaq: FTHM) has promoted Joanne Zach to Chief Financial Officer. Zach, who has served as Senior Vice President of Finance since February 2021, brings over 25 years of finance experience across public and private sectors. She has worked closely with CEO Marco Fregenal on strategic planning and financial decisions for the past three years. Prior to joining Fathom, she worked in public accounting at Arthur Andersen and held senior finance leadership positions. This transition allows Fregenal to focus fully on his CEO role while Zach takes charge of financial operations.

Fathom Holdings (FTHM) has acquired My Home Group, a leading Arizona-based brokerage ranked 27th nationally by transaction volume. The acquisition adds over 2,200 agents who complete approximately 12,000 transactions annually, expanding Fathom's agent network to 14,500 nationwide. My Home Group will retain its name, with co-founders Jereme Kleven and Mark Hutchins continuing to oversee operations. The merger strengthens Fathom's presence in Arizona's growing real estate market and creates opportunities to cross-sell mortgage and title services to My Home Group's client base.

Verus Title, a subsidiary of Fathom Holdings (Nasdaq: FTHM), has announced two key leadership appointments. Monica Schroeder, with over 20 years of industry experience and a previous role leading a national title agency, has been appointed as President. Penelope Vockel, formerly Vice President for the Northeast and Midwest regions, has been promoted to Chief Operating Officer. Schroeder brings expertise in scaling operations and enhancing client experiences through technology, while Vockel has been instrumental in driving growth across multiple regions with her decade-long industry experience and legal background from Georgetown University.

Fathom Holdings (Nasdaq: FTHM) has scheduled its Third Quarter 2024 earnings conference call for Thursday, November 7, 2024, at 5:00 p.m. ET. The company, which operates a national technology-driven real estate services platform, will release its financial results for the quarter ended September 30, 2024, via press release before the call. The conference call will be accessible via toll-free and international dial-in numbers, with a live audio webcast available simultaneously. A telephone replay will be available through November 21, 2024.

Fathom Holdings CEO Marco Fregenal has been named one of HousingWire's 2024 Vanguard award winners, recognizing his influential leadership in the housing economy. The prestigious award honors 100 executives for their significant contributions to their organizations and the industry.

Under Fregenal's leadership, Fathom Holdings has achieved several milestones:

• Became one of the top 10 largest real estate brokerage firms in the U.S.
• Increased gross margin to 10% in Q1 2024
• Grew agent network by 13% year-over-year, reaching approximately 12,000 agents
• Expanded operations to 42 states and the District of Columbia

Scott N. Flanders, chairman of Fathom Holdings, praised Fregenal's visionary leadership, commitment to innovation, and ability to navigate complex market conditions while driving the company forward.

Fathom Holdings Inc. (Nasdaq: FTHM) announced the expansion of its subsidiary, Verus Title, into Rhode Island. This marks a significant milestone in Verus Title's growth strategy, extending its operations to 29 states across the U.S. The expansion demonstrates Fathom Holdings' commitment to pursuing targeted growth opportunities and diversifying its portfolio.

Jon Gwin, Fathom's Chief Operating Officer, emphasized the company's strategic vision of growth and innovation. Monica Schroeder, Verus Title President, expressed excitement about bringing their expertise and innovative solutions to Rhode Island. This expansion aligns with Verus Title's mission to provide exceptional real estate settlement and title services on a broader scale.

Fathom Holdings Inc. (Nasdaq: FTHM) has announced a $5 million convertible note private placement to accelerate agent and transaction growth. The company sold senior secured convertible promissory notes to an existing shareholder and the chairman of the Board of Directors. Key details include:

- Interest rate: Monthly average SOFR + 4% per annum (minimum 8%)
- Conversion price: $4.25 per share (85% premium above last reported sale price)
- Maturity date: October 1, 2026
- Quarterly interest payments starting October 1, 2025

CEO Marco Fregenal stated that this capital will help fast-track plans for agent and transaction growth, focusing on targeted walkovers and acquisitions. The demand for Fathom's revenue share model across agent fee plans demonstrates the company's momentum.

Fathom Realty, a subsidiary of Fathom Holdings Inc. (Nasdaq: FTHM), has been named the top real estate company for agent satisfaction among the nation's 40 largest real estate companies by Career.io. The study analyzed over 755,000 job reviews, with Fathom Realty earning the highest Glassdoor rating in the industry.

Key factors contributing to Fathom's top ranking include:

• Agent-centric business model with innovative compensation plans
• Comprehensive training and leadership support
• Cutting-edge technology for streamlined operations
• Collaborative culture prioritizing teamwork and servant leadership

This recognition underscores Fathom's commitment to creating a supportive environment for agents and employees, which in turn drives the company's success and growth.

Fathom Realty, a subsidiary of Fathom Holdings Inc. (Nasdaq: FTHM), has reached a nationwide settlement related to claims in the Burnett v. The National Association of Realtors lawsuit. The company will pay a total of $2.95 million in three installments: $500,000 within 5 days of court approval, $500,000 by October 1, 2025, and $1.95 million by October 1, 2026. Fathom Realty has also agreed to adhere to rule changes proposed by the National Association of REALTORS.

CEO Marco Fregenal emphasized that this settlement is not an admission of liability or acknowledgment of claim validity. The company maintains it never participated in any conspiracy to inflate commissions. The settlement aims to avoid ongoing legal fees and allow the executive team to focus on business growth and agent support.