$FTHM reports strong 2022 growth in revenue, agents, and transactions.
Mar 13th 2023, 11:25 am
Analyst Summary: Fathom Holdings, a national technology-driven real estate services platform, reported strong year-over-year revenue, agent growth, and transaction growth for the full year of 2022 with total revenue expected to range between $411 million and $413 million, an increase from $330.2 million in 2021. Although the fourth quarter was difficult for the real estate industry, the company reported completing approximately 44,700 real estate transactions in 2022, a 14% increase from the previous year, and their real estate agent network grew approximately 28% to 10,370 agents at December 31, 2022. Fathom’s model offers a competitive value proposition helping to attract and grow their agents’ businesses, proving successful as the average agent who joins Fathom increases their sales transactions by 49% within four years of joining. CEO Joshua Harley expects profit growth due to cost reduction initiatives with adjusted EBITDA breakeven projected for Q2 2023, and the company’s proprietary software and data have over 750 brokerages licensing it. Fathom will release its financial results for Q4 and full year 2022 on March 22, 2023, followed by a conference call to discuss the results.