Technology
Fathom Holdings Reports First Quarter 2025 Results
Published
1 year agoon
By
– Fathom achieved a 32% year-over-year revenue increase in the first quarter, beating analyst expectations by 12% –
CARY, N.C., May 13, 2025 /PRNewswire/ — Fathom Holdings Inc. (Nasdaq: FTHM) (“Fathom” or the “Company”), a national, technology-driven, end-to-end real estate services platform integrating residential brokerage, mortgage, title, and SaaS offerings for brokerages and agents, today reported financial results for the first quarter ended March 31, 2025.
“Fathom achieved a 32% year-over-year revenue increase in the first quarter, beating analyst expectations by 12%,” said Marco Fregenal, CEO of Fathom Holdings. “We also increased our agent network by 22% and closed transactions increased by 26% over Q1 2024.”
“Although we expect 2025 to remain challenging for the real estate industry, we expect Fathom’s positive momentum to continue. We are, in fact, currently expecting to be EBITDA positive in Q2 of 2025. Our mission remains steadfast: to build a best-in-class, technology-driven platform that empowers agents, streamlines transactions, and delivers long-term value for our shareholders. We are confident these efforts will foster ongoing success, even in a dynamic market environment. We are focused on driving higher gross profit from ancillary services, increased efficiencies in the My Home Group operation, and higher margins from the recently launched Elevate program.”
During the first quarter, Fathom successfully launched its innovative “Elevate” program, a concierge-level initiative designed to significantly enhance agent productivity, transaction efficiency, and overall profitability. Elevate offers agents a powerful suite of services, including comprehensive marketing, lead generation and conversion, dedicated transaction support, personalized coaching, recruiting assistance, and priority customer service.
“We believe Elevate will enhance agent growth by helping agents increase their business as they become more productive. More importantly, we anticipate the program will significantly enhance long-term profitability by increasing gross profit per transaction,” Fregenal added. “Our goal is to ramp up the program to 100 new agents per month by Q4 of 2025.”
First Quarter 2025 Financial Results
Fathom’s total revenue increased 32.1% to $93.1 million for the first quarter of 2025, up from $70.5 million in the first quarter of 2024.Brokerage revenue increased by 35.9% to $88.9 million for the first quarter of 2025, up from $65.4 million in the first quarter of 2024.Mortgage revenue increased 13% to $2.6 million for the first quarter of 2025, up from $2.3 million in the first quarter of 2024.Title revenue increased 43% to $1.0 million for the first quarter of 2025, up from $0.7 million in the first quarter of 2024.Gross profit increased 13% to $8.1 million for the first quarter of 2025, up from $7.2 million in the first quarter of 2024.
First Quarter 2025 Operational Highlights
Fathom’s real estate agent network grew 22.8% to approximately 14,715 agent licenses at March 31, 2025, up from approximately 11,986 agent licenses at March 31, 2024.Fathom’s real estate transactions grew 26% to approximately 9,715 in the first quarter of 2025, up from approximately 7,703 transactions in the first quarter of 2024.Successfully launched the Elevate program.On March 10, 2025, the Company issued and sold shares of its common stock to certain investors and members of the Company’s Board in a registered direct offering (the “2025 Offering”). The cash proceeds to the Company from the issuance of the shares of common stock in the 2025 Offering were approximately $2.7 million after deducting the offering expenses.
Segment revenue for the 2025 first quarter, compared with the 2024 first quarter was as follows:
Revenue
Three months ended
March 31,
(Revenue $ in millions)
2025
2024
UNAUDITED
Real Estate Brokerage
$ 88.9
$ 65.4
Mortgage
2.6
2.3
Technology
1.1
1.1
Corporate and other services (a)
0.5
1.7
Total revenue
$ 93.1
$ 70.5
(a)
Transactions between segments are eliminated in consolidation. Such amounts are eliminated through the Corporate and other services line.
GAAP net loss for the 2025 first quarter was $5.6 million, or $0.24 per share, compared with a loss of $5.9 million, or $0.31 per share, for the 2024 first quarter. This decrease was primarily due to a reduction in agent recruiting commissions.
General and Administrative expense totaled $8.6 million for the 2024 first quarter, or 9.3% of revenue, compared with $9.0 million or 12.8% of revenue for the first quarter of 2024. This was primarily due to our continued focus on reducing expenses.
Driven by many of the factors discussed above, Adjusted EBITDA loss, a non-GAAP measure, was relatively constant at $1.5 million in the first quarter of 2025 compared with an Adjusted EBITDA loss of approximately $1.5 million for the 2024 first quarter. Fathom is committed to achieving and remaining Adjusted EBITDA positive moving forward.
Fathom provides Adjusted EBITDA, a non-GAAP financial measure, because it offers additional information for monitoring the Company’s cash flow performance. A table providing a reconciliation of Adjusted EBITDA to its most comparable GAAP measure, as well as an explanation of, and important disclosures about, this non-GAAP measure, is included in the tables at the end of this press release.
Guidance/Long-Term Targets
Given the initial success of Elevate, the Company has elected to temporarily suspend guidance while it works with its newly formed Strategy Committee of the Board of Directors to forecast 2025.
Conference Call
Fathom management will hold a conference call today (May 13, 2025) at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss these financial results.
Toll Free: 888-506-0062
International: 973-528-0011
Passcode: 518591 or ‘Fathom Holdings’
Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization.
A live audio webcast of the conference call will be available in listen-only mode simultaneously and available via the investor relations section of the Company’s website at www.FathomInc.com.
A telephone replay of the call will be available through May 27, 2025.
Toll Free: 877-481-4010
International: 919-882-2331
Replay Passcode: 52105
About Fathom Holdings Inc.
Fathom Holdings Inc. is a national, technology-driven, real estate services platform integrating residential brokerage, mortgage, title, and SaaS offerings to brokerages and agents by leveraging its proprietary cloud-based software, intelliAgent. The Company’s brands include Fathom Realty, Encompass Lending, intelliAgent, LiveBy, Real Results, Verus Title, and Cornerstone. For more information, visit www.FathomInc.com.
Cautionary Note Concerning Forward-Looking Statements
This press release contains “forward-looking statements” that involve risks and uncertainties which we expect will or may occur in the future and may impact our business, financial condition and results of operations. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including: risks associated with general economic conditions, including rising interest rates; its ability to generate positive operational cash flow; risks associated with the Company’s ability to continue achieving significant growth; its ability to continue its growth trajectory while achieving profitability over time; risks related to ongoing and future litigation; and other risks as set forth in the Risk Factors section of the Company’s most recent Form 10-K as filed with the SEC and supplemented from time to time in other Company filings made with the SEC. Copies of Fathom’s Form 10-K and other SEC filings are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Contact:
Dave Gentry, CEO
RedChip Companies, Inc. 1-407-644-4256
FTHM@redchip.com
FATHOM HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share data)
Three Months Ended
March 31,
2025
2024
UNAUDITED
Revenue
$ 93,135
$ 70,503
Commission and service costs
85,047
63,637
General and administrative
8,647
9,000
Marketing
1,370
1,201
Technology and development
1,937
1,590
Litigation contingency
4
—
Depreciation and amortization
554
728
Loss from operations
(4,424)
(5,653)
Other expense (income), net
Interest expense, net
156
105
Other nonoperating expense
1,049
152
Other expense, net
1,205
257
Loss before income taxes
(5,629)
(5,910)
Income tax expense
17
17
Net loss
$ (5,646)
$ (5,927)
Net loss per share:
Basic
$ (0.24)
$ (0.31)
Diluted
$ (0.24)
$ (0.31)
Weighted average common shares outstanding:
Basic
23,407,905
19,178,474
Diluted
23,407,905
19,178,474
The accompanying notes are an integral part of the condensed consolidated financial statements.
FATHOM HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
March 31,
2025
December 31,
2024
(UNAUDITED)
ASSETS
Current assets:
Cash and cash equivalents
$ 7,976
$ 7,127
Restricted cash
195
263
Accounts receivable
3,133
3,147
Other receivable – current
3,000
4,000
Mortgage loans held for sale, at fair value
9,508
4,772
Prepaid and other current assets
6,962
5,647
Total current assets
30,774
24,956
Property and equipment, net
1,783
1,854
Lease right of use assets
4,370
3,781
Intangible assets, net
19,561
20,234
Goodwill
21,498
21,498
Other receivable – long-term
3,000
3,000
Other assets
31
74
Total assets
$ 81,017
$ 75,397
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$ 5,199
$ 4,305
Accrued and other current liabilities
5,862
4,894
Warehouse lines of credit
9,269
4,556
Lease liability – current portion
1,483
1,237
Long-term debt – current portion
4,158
4,389
Total current liabilities
25,971
19,381
Lease liability, net of current portion
3,818
3,522
Long-term debt, net of current portion
5,086
5,087
Other long-term liabilities
2,727
2,726
Total liabilities
37,602
30,716
Commitments and contingencies (Note 18)
Stockholders’ equity:
Common stock (no par value)
—
—
Additional paid-in capital
142,224
137,844
Accumulated deficit
(98,809)
(93,163)
Total stockholders’ equity
43,415
44,681
Total liabilities and stockholders’ equity
$ 81,017
$ 75,397
The accompanying notes are an integral part of the condensed consolidated financial statements.
FATHOM HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(in thousands)
Three Months Ended March 31,
2025
2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss
$ (5,646)
$ (5,927)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
1,440
1,480
Non-cash lease expense
357
529
Deferred financing cost amortization
25
—
Gain on sale of mortgages
(1,491)
(1,215)
Stock-based compensation
1,506
2,652
Deferred income taxes
1
5
Change in operating assets and liabilities:
Accounts receivable
15
356
Prepaid and other current assets
(315)
(901)
Other assets
43
8
Accounts payable
893
434
Accrued and other current liabilities
1,089
1,112
Operating lease liabilities
(404)
(566)
Mortgage loans held for sale originations
(54,687)
(49,598)
Proceeds from sale and principal payments on mortgage loans held for sale
51,441
50,684
Net cash used in operating activities
(5,733)
(947)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment
(25)
(1)
Purchase of intangible assets
(670)
(534)
Amounts paid for business and asset acquisitions, net of cash acquired
(120)
—
Other investing activities
—
—
Net cash used in investing activities
(815)
(535)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on debt
(257)
(148)
Deferred acquisition consideration payments
—
(83)
Borrowings from warehouse lines of credit
54,959
49,440
Repayment on warehouse lines of credit
(50,247)
(49,277)
Proceeds from the issuance of common stock in connection with a public offering
3,043
—
Payment of offering cost in connection with issuance of common stock in connection with public offering
(169)
(28)
Net cash provided by (used in) financing activities
7,329
(96)
Net increase (decrease) in cash, cash equivalents, and restricted cash
782
(1,578)
Cash, cash equivalents, and restricted cash at beginning of period
7,389
7,540
Cash, cash equivalents, and restricted cash at end of period
$ 8,171
$ 5,962
Supplemental disclosure of cash and non-cash transactions:
Cash paid for interest
$ 90
$ 90
Right of use assets obtained in exchange for new lease liabilities
$ 946
$ 1,284
Reconciliation of cash and restricted cash:
Cash and cash equivalents
$ 7,976
$ 5,682
Restricted cash
195
280
Total cash, cash equivalents, and restricted cash shown in statement of cash flows
$ 8,171
$ 5,962
The accompanying notes are an integral part of the condensed consolidated financial statements.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(UNAUDITED)
(in thousands)
Three Months Ended
March 31,
2025
2024
Net loss
$ (5,646)
$ (5,927)
Stock based compensation
1,506
2,652
Depreciation and amortization
1,440
1,480
Litigation contingency
4
—
Other expense, net
1,205
257
Income tax expense
17
17
Adjusted EBITDA
$ (1,474)
$ (1,521)
Note about Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use Adjusted EBITDA, a non-GAAP financial measure, to understand and evaluate our core operating performance. This non-GAAP financial measure, which may be different than similarly titled measures used by other companies, is presented to enhance investors’ overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
We define the non-GAAP financial measure of Adjusted EBITDA as net income (loss), excluding other expense, income tax benefit, depreciation and amortization, share-based compensation expense, gain on sale of business benefit, NAR related litigation contingency expenses and transaction-related cost.
We believe that Adjusted EBITDA provides useful information about our financial performance, enhances the overall understanding of our past performance and future prospects, and allows for greater transparency with respect to a key metric used by our management for financial and operational decision-making. We believe that Adjusted EBITDA helps identify underlying trends in our business that otherwise could be masked by the effect of the expenses that we exclude in Adjusted EBITDA. In particular, we believe the exclusion of share-based compensation expense related to restricted stock awards and stock options and transaction-related costs associated with our acquisition activity provides a useful supplemental measure in evaluating the performance of our operations and provides better transparency into our results of operations. Adjusted EBITDA also excludes other income and expense, net which primarily includes nonrecurring items, such as, gain on debt extinguishment, gain on sale of business, severance costs, and non-cash items representing reserves on certain agent fee collection, if applicable.
We are presenting the non-GAAP measure of Adjusted EBITDA to assist investors in seeing our financial performance through the eyes of management, and because we believe this measure provides an additional tool for investors to use in comparing our core financial performance over multiple periods with other companies in our industry.
Adjusted EBITDA should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. There are a number of limitations related to the use of Adjusted EBITDA compared to net income (loss), the closest comparable GAAP measure. Some of these limitations are that:
Adjusted EBITDA excludes share-based compensation expense related to restricted stock awards, restricted stock unit awards, and stock options, which have been, and will continue to be for the foreseeable future, significant recurring expenses in our business and an important part of our compensation strategy;Adjusted EBITDA excludes transaction-related costs primarily consisting of professional fees and any other costs incurred directly related to acquisition activity, which is an ongoing part of our growth strategy and therefore likely to occur;Adjusted EBITDA excludes certain recurring, non-cash charges such as depreciation and amortization of property and equipment and capitalized software costs, however, the assets being depreciated and amortized may have to be replaced in the future;Adjusted EBITDA excludes the gain on the sale of the business, as this item is non-recurring and not indicative of the company’s core operating performance; andAdjusted EBITDA excludes NAR related litigation expenses, which could continue to be significant recurring expenses in our business until a final settlement has been approved by the court.
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SOURCE Fathom Holdings Inc.
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WOODBRIDGE, N.J., July 24, 2026 /PRNewswire/ — Care Career, a rapidly growing healthcare workforce technology organization, today announced the acquisition of MAS Medical Staffing, one of the Northeast’s leading healthcare workforce organizations. Financial terms of the transaction were not disclosed.
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MAS Medical Staffing has built an outstanding reputation for delivering high-quality workforce solutions through strong client relationships, exceptional clinician engagement, and deep regional expertise throughout the Northeastern United States. The acquisition significantly expands Care Career’s geographic footprint while broadening its access to healthcare professionals, client relationships, workforce data, and regional market intelligence.
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About Care Career
Care Career is a technology-enabled healthcare workforce solutions company dedicated to transforming how healthcare organizations recruit, engage, credential, deploy, and retain clinical talent. Powered by its proprietary AI-powered workforce platform and supported by advanced artificial intelligence, enterprise technology, and workforce analytics, Care Career is building an intelligent healthcare workforce ecosystem that connects providers and clinicians more efficiently while improving workforce performance, operational effectiveness, and patient care. Following seven strategic acquisitions over the past 24 months the first round of acquisitions totaling more than $150 million in annual revenue and with additional signed LOIs under contract expected to complete shortly, positioning the company to surpass a quarter of a billion dollars in consolidated annual revenue by the end of 2026, Care Career has become one of the nation’s largest and fastest-growing healthcare workforce organizations, serving healthcare providers and clinicians across the United States.
About MAS Medical Staffing
MAS Medical Staffing is a premier healthcare workforce organization recognized for exceptional service, strong client partnerships, and a commitment to connecting healthcare professionals with rewarding career opportunities. With an established presence throughout the Northeastern United States, MAS Medical Staffing has earned a reputation for quality, responsiveness, and delivering workforce solutions that help healthcare providers meet their evolving workforce needs while supporting clinicians throughout every stage of their careers.
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PointsKash Demonstrates How Businesses Can Build on Bitcoin Without Burdening the Blockchain
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As industry debate surrounding Bitcoin Improvement Proposal (BIP-110) intensifies, PointsKash unveils an architecture designed to work regardless of the proposal’s outcome.
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About PointsKash, Inc.
PointsKash, Inc. is a financial technology company developing an integrated ecosystem of AI-enabled self-service financial centers, digital banking, digital payment solutions, cryptocurrency services, loyalty rewards, enterprise merchant technologies, and mobile financial applications. Through proprietary software, Artificial Intelligence, and strategic partnerships, PointsKash is building innovative financial solutions designed to empower consumers, merchants, and enterprise organizations throughout North America.
For more information, visit www.pointskash.com.
Media Contact
PointsKash, Inc.
Investor Relations
info@pointskash.com
www.pointskash.com
Forward-Looking Statements
This press release contains forward-looking statements regarding anticipated technology integrations, Artificial Intelligence initiatives, product development, future commercialization plans, expected operational efficiencies, business strategy, and future growth. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could affect actual results include, but are not limited to, technology development timelines, integration efforts, financing, regulatory developments, market conditions, and other risks facing the Company. PointsKash undertakes no obligation to update any forward-looking statements except as required by applicable law.
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Survey conducted by The Harris Poll on behalf of University of Phoenix finds among those already using AI in the workplace, 60% say AI has improved their knowledge of and ability to use accessibility standards and guidelines.
PHOENIX, July 24, 2026 /PRNewswire/ — As artificial intelligence becomes part of how people work, learn and solve problems, a new University of Phoenix survey conducted by The Harris Poll finds that recent working learners see meaningful opportunities for AI to support accessibility. The survey was designed to understand the impact of AI in the workplace and learning environments on accessibility, defined as ensuring digital content, tools and resources, including AI tools and output, are usable by people with different abilities through inclusive design, use of assistive technology or conformance with accessibility standards, such as the Web Content Accessibility Guidelines (WCAG). The findings are being released ahead of the 36th anniversary of the Americans with Disabilities Act (ADA) on July 26.
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“The reality is that accessibility benefits everyone,” shares Kelly Hermann, Vice President of Accessibility and Student Affairs at University of Phoenix. “If accessibility is built in from the beginning, organizations are more likely to create AI-enabled environments that are universally usable. Clearer content, better summaries, accurate captions, and multiple formats can help workers and learners with disabilities, but they also help busy adults, multilingual learners, mobile users, and anyone trying to absorb information quickly.”
Key findings from the survey include:
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Why accessibility is essential to responsible AI adoption
As AI tools are used to draft documents, summarize information, generate captions and transcripts, create image descriptions, support learning and assist with workplace tasks, accessibility becomes central to responsible use. Poorly implemented AI can also create or amplify barriers, including inaccessible content, inaccurate summaries, biased outputs and tools that do not work effectively with assistive technologies.
“Responsible AI is not only about productivity,” Hermann said. “It is about whether the technology works for the people who need to use it. AI can help create more accessible materials and more flexible ways to engage with information, but it still requires clear policies, practical training and human judgment to make sure the outputs are accurate, applicable and usable.”
What the findings mean for employers and educators
The survey suggests that organizations have an opportunity to align AI adoption with supportive design, accessibility practices and workforce training. Employers and educators can take immediate steps by:
Naming accessibility directly in AI policies and guidance.Choosing AI tools with accessibility and assistive technology compatibility in mind.Training workers and learners to create, check and improve accessible AI-generated content.Making support pathways clear for people who experience barriers using AI tools.Keeping human review in place for important decisions, high-impact work and accessibility-sensitive outputs.
The survey also found workers want practical AI training. The most helpful resources identified by recent working learners include real-world examples from their field or industry (36%), hands-on practice using realistic workplace scenarios (34%) and step-by-step demonstrations of common tasks (33%).
Accessibility insights from University of Phoenix
Hermann shared the survey findings ahead of the ADA anniversary in recent media interviews. Hermann oversees the University’s accessibility initiative, including evaluation and remediation of curricular resources, the Center for Access, Resources, Engagement and Support Services (CARES), and the Office of Collaborative Learning and Educational Engagement. Her work focuses on fostering accessible and welcoming educational environments for students, faculty and staff.
Hermann’s office at University of Phoenix also convenes accessibility conversations through initiatives such as Access Amplified™, a free, annual virtual event focused on advancing digital accessibility in web development. The event brings together engineers, developers, designers, content authors and digital strategists for practical strategies and human-centered conversations that address the gap between coding practices and how users with assistive technology experience the web.
About the survey
The survey was conducted online within the United States by The Harris Poll on behalf of University of Phoenix from June 22–29, 2026, among 1,019 employed adults ages 18 and older who have taken a professionally presented training or a school course in the past 12 months, referred to as “recent working learners.” Data were weighted where necessary by age, gender, race/ethnicity, region, education, employment, marital status, household size, household income and smoking status to bring them in line with their actual proportions in the population.
Respondents for this survey were selected from among those who have agreed to participate in surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 3.8 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.
Review the complete survey at phoenix.edu/aiaccessibility.
About University of Phoenix
University of Phoenix is Built for Real Life. 50 Years Strong. The University innovates to help working adults enhance their careers and develop skills in a rapidly changing world through flexible online learning, relevant courses, academic AI pillars, and skills-mapped curriculum for associate, bachelor’s and master’s degree programs. Active students and alumni have access to Career Services for Life® resources including career guidance and tools. For more information, visit phoenix.edu.
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SOURCE University of Phoenix
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