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
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.
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