Fathom Holdings Inc. FTHM
Fathom Realty LLC was founded in January 2010 and later incorporated as Fathom Holdings Inc. in the state of North Carolina on May 5, 2017. We are a national, technology-driven, real estate services platform integrating residential brokerage, mortgage, title, and Software as a Service ("SaaS") offerings to brokerages and agents by leveraging intelliAgent®, our proprietary cloud-based software. The Company's brands include Fathom Realty, Encompass Lending, intelliAgent, Real Results, and Verus Title.
For Fathom Realty, our core business, our low overhead business model leverages our proprietary software platform for management of real estate brokerage back-office functions, without the cost of physical brick and mortar offices or of redundant personnel. As a result, we can offer our agents significantly more of their commissions compared to traditional real estate brokerage firms by charging a flat fee per real estate transaction, and we also offer a revenue share plan that provides agents with additional income opportunities. We believe we offer our agents some of the best technology, training, and support available in the industry. We believe our commission structure, business model, advanced technology offerings, and focus on treating our agents well attract more agents and higher producing agents to join and stay with our Company.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by segment
- Real Estate Brokerage
- Mortgage
- Title
| Segment | FY2025 | FY2024 |
|---|---|---|
| Real Estate Brokerage | $399.0M | $314.7M |
| Mortgage | $12.8M | $10.9M |
| Title | $6.0M | $4.4M |
As the company reported it, from the “Segment Reporting - Schedule of Key Operating Data for the Reportable Segments (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $420.5M | $335.2M | $345.2M | $413.0M | $330.2M | $176.8M | $111.2M | — |
| Cost of revenue | — | — | — | — | — | $166.4M | $105.3M | — |
| Gross profit | — | — | — | — | — | $10.4M | $5.9M | — |
| SG&A | $33.1M | $33.6M | $36.1M | $43.2M | $32.7M | $10.3M | $9.6M | — |
| Total operating expenses | — | — | $368.5M | $439.7M | $346.3M | $178.1M | $9.9M | — |
| Operating income | -$15.6M | -$23.5M | -$23.3M | -$26.8M | -$16.1M | -$1.3M | -$4.0M | — |
| Interest expense | — | — | $245.0K | $11.0K | $7.0K | $84.0K | $109.7K | — |
| Pre-tax income | -$20.2M | -$22.6M | -$23.8M | -$27.7M | -$15.7M | -$1.3M | -$4.1M | — |
| Income tax | $85.0K | $1.0M | $148.0K | $54.0K | $3.2M | $8.0K | $8.0K | — |
| Net income | -$20.3M | -$21.6M | -$24.0M | -$27.6M | -$12.5M | -$1.3M | -$4.1M | — |
| EPS, basic | -0.72 | -1.07 | -1.47 | -1.73 | -0.88 | -0.12 | — | — |
| EPS, diluted | -0.72 | -1.07 | -1.47 | -1.73 | -0.88 | -0.12 | -0.42 | — |
| Shares, diluted (wtd. avg.) | 28.2M | 20.2M | 16.3M | 16.0M | 14.3M | 11.4M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $5.8M | $7.1M | $7.5M | $8.4M | $37.9M | $29.6M | $579.0K | $1.0M |
| Receivables | $3.7M | $3.1M | $3.4M | $3.1M | $4.0M | $1.6M | $304.8K | — |
| Total current assets | $35.9M | $25.0M | $23.2M | $18.8M | $54.5M | $32.9M | $1.7M | — |
| Property, plant and equipment | $1.6M | $1.9M | $2.3M | $2.9M | $1.2M | $155.0K | $106.0K | — |
| Goodwill | $17.7M | $21.5M | $25.6M | $25.6M | $20.5M | $799.0K | $0 | — |
| Other intangibles | $18.6M | $20.2M | $23.9M | $27.3M | $24.2M | $922.0K | $464.8K | — |
| Total assets | $78.0M | $75.4M | $79.3M | $80.2M | $104.9M | $35.2M | $2.5M | — |
| Accounts payable | $5.6M | $4.3M | $3.4M | $3.3M | $5.3M | $2.6M | $946.0K | — |
| Short-term debt | $5.5M | $4.4M | $416.0K | $564.0K | $831.0K | $256.0K | $17.1K | — |
| Total current liabilities | $33.9M | $19.4M | $16.4M | $12.5M | $21.1M | $5.0M | $2.9M | — |
| Long-term debt | $5.6M | $9.5M | $3.9M | $129.0K | $146.0K | $283.0K | $535.1K | — |
| Total liabilities | $40.6M | $30.7M | $24.0M | $18.2M | $24.8M | $5.6M | $3.6M | — |
| Retained earnings | -$113.5M | -$93.2M | -$71.6M | -$47.6M | -$20.0M | -$7.5M | -$6.1M | — |
| Total equity | $37.4M | $44.7M | $55.2M | $62.0M | $80.2M | $29.7M | -$1.2M | $232.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$20.5M | -$4.7M | -$10.6M | -$6.6M | -$11.7M | -$1.2M | -$1.1M | — |
| Depreciation and amortisation | $5.8M | $5.4M | $5.9M | $5.3M | $2.7M | $165.0K | $60.4K | — |
| Stock-based compensation | $3.7M | $8.8M | $13.0M | $9.1M | $4.0M | $728.0K | $1.6M | — |
| Capital expenditure | $121.0K | $51.0K | $22.0K | $945.0K | $877.0K | $66.0K | $41.3K | — |
| Investing cash flow | $4.0M | $3.3M | -$1.9M | -$7.1M | -$14.6M | -$910.0K | -$372.8K | — |
| Financing cash flow | $15.0M | $1.2M | $11.6M | -$15.9M | $34.6M | $31.1M | $1.1M | — |
| Buybacks | — | — | $0 | $6.0M | — | $30.0K | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-028585.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $111.2M | $176.8M | $330.2M | $413.0M | $345.2M | $335.2M | $420.5M |
| Gross profit | — | $5.9M | $10.4M | — | — | — | — | — |
| Net income | — | -$4.1M | -$1.3M | -$12.5M | -$27.6M | -$24.0M | -$21.6M | -$20.3M |
Recent filings and events
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed Item 1.01
- Officer or director change Item 5.02
- Other event Item 8.01
- Material agreement signed Item 1.01
- Delisting notice Item 3.01
- Delisting notice Item 3.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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