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. reports developments for a national, technology-driven real estate services platform that combines residential brokerage, mortgage, title and SaaS offerings for brokerages and agents. News commonly covers quarterly results, transaction volume, agent network growth, revenue mix across brokerage and ancillary services, and use of the proprietary cloud-based intelliAgent platform.
Company updates also include Fathom Realty leadership appointments, regional brokerage teams joining its agent-first model, partnerships that add home-moving and concierge services, and portfolio actions such as the completed divestiture of LiveBy assets while retaining platform access for agents.
Fathom Holdings (Nasdaq: FTHM) announced the expansion of its joint venture, Verus Title Elite, into Amarillo, Texas. This marks the fourth Texas market for Verus Title Elite, adding to its existing operations in Plano, Flower Mound, and Waxahachie. The new office will be led by Lori Quinlin, an experienced title professional with strong local connections.
The expansion is part of Fathom's strategy to enhance its integrated real estate services platform, which includes residential brokerage, mortgage, title, and SaaS offerings. The move demonstrates Verus Title Elite's commitment to providing localized expertise and community-centered service in Texas's dynamic real estate market.
Fathom Holdings (Nasdaq: FTHM) has announced key leadership changes to strengthen its growth strategy. Jon Gwin, former Chief Operating Officer, has been appointed to the newly created position of Chief Revenue Officer, where he will focus on revenue generation and strategic partnerships across the company's real estate, mortgage, and title divisions. Samantha Giuggio, previously Chief Operations Officer of Fathom Realty, has been promoted to President of Fathom Realty and Chief Operations Officer of Fathom Holdings, bringing over 14 years of experience to her expanded role.
Fathom Holdings (Nasdaq: FTHM) announced Q3 2024 results, highlighting a 9% increase in its real estate agent network to approximately 12,383 licenses. However, real estate transactions dropped by 9% year-over-year, leading to a 10% decline in total revenue to $83.7 million. The company reported a net loss of $8.1 million or $0.40 per share, up from a loss of $5.5 million or $0.34 per share in Q3 2023. This was primarily due to a $3 million NAR settlement contingency. Despite challenges, Fathom improved its gross profit percentage to 9% from 7% YoY. The acquisition of My Home Group added over 2,200 agents, expanding Fathom's footprint in Arizona and Washington. Fathom also launched new commission plans to drive agent recruitment and retention. The company withheld Q4 guidance due to the uncertain impact of these new models.
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.