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. (FTHM) operates a comprehensive real estate services platform combining brokerage, mortgage, and proprietary SaaS technology. This news hub provides investors and industry professionals with essential updates about the company's strategic developments and market position.
Access official press releases, financial disclosures, and operational updates in one centralized location. Track announcements related to technology innovations, strategic partnerships, and market expansion initiatives that shape Fathom's role in modern real estate services.
Our curated collection includes updates on earnings reports, leadership changes, and product enhancements to the intelliAgent platform. Stay informed about regulatory developments and industry trends impacting FTHM's integrated service model.
Bookmark this page for streamlined access to Fathom Holdings' latest communications. Combine these verified updates with broader industry analysis to maintain a complete perspective on this technology-driven real estate innovator.
Fathom Holdings Inc. (NASDAQ: FTHM) announced a $3.5 million senior secured convertible promissory note through a securities purchase agreement with an institutional investor. The note, with a conversion price of $6.00 per share, aims to enhance operating liquidity and provide financial flexibility. Interest will be paid quarterly, based on the Secured Overnight Financing Rate (SOFR) plus 5%, with a minimum rate of 8%. The company projects achieving adjusted EBITDA breakeven in Q2 2023 and cash flow breakeven in Q3 2023. The proceeds will be utilized for working capital and general corporate purposes. Roth Capital Partners acted as the sole agent for the offering. The note matures on April 12, 2025, unless repurchased or converted earlier.
Fathom Realty, a subsidiary of Fathom Holdings Inc. (NASDAQ: FTHM), ranked second in the RealTrends 500 Top Movers for 2022, showing significant growth in closed transactions. With a total of 44,707 closed transactions, Fathom reported a 14% year-over-year growth.
CEO Joshua Harley emphasized the effectiveness of their flat fee commission model, appealing to agents aiming for higher income amidst increasing inflation and interest rates. The report also highlighted Fathom's strong performance among low-cost brokerage firms, validating its business strategy.
Fathom Holdings reported a 12.7% decline in Q4 2022 revenue to $83.4 million, down from $95.5 million in Q4 2021. The company aims for Adjusted EBITDA breakeven in Q2 2023 and positive cash flow in Q3 2023, supported by $3 million quarterly expense reductions. Despite a net loss of $9.9 million in Q4 2022, Fathom's agent network grew by 28% to approximately 10,370 agents. For the full year, total revenue increased 25% to $412.9 million, but net losses widened to $27.6 million. Fathom completed about 44,700 transactions in 2022, a 14% increase from 2021.
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