Tech-focused brokerage Fathom Realty reported impressive growth in its Q4 and full-year 2021 earnings call yesterday, beating its Q3 projections with $95.5 million in total revenue last quarter for a year-over-year increase of 79%, and growing its agent count by 48% to 8,100. The company reported an overall net loss of $3.6 million for Q4, up from $1.9 million in Q4 2020.
Founded in 2010, Fathom is an independent brokerage with a footprint across 34 states, offering a “cloud-based, technology driven” model and with a focus on supporting agents through scholarships, stocks and health care.
“Quarter after quarter and year after year, Fathom’s results have continued to demonstrate the power of what I believe is our truly disruptive business model,” said Fathom CEO Joshua Harley in a statement. “We have been successful in increasing revenue, expanding our agent network, maintaining strong agent retention, entering new geographic markets, and completing numerous strategic acquisitions designed to enhance our business and create new revenue streams.”
With $330.2 million in total revenue for 2021, Fathom will grow by 87% from 2020. The company opened two new locations already this year, in Montana and New Hampshire, as well as acquiring Utah-based iPro Realty Network, adding 435 agents through that acquisition.
In its earnings report, the company also highlighted its growth in tech offerings, including acquisitions of hyperlocal tech platform LiveBy and CRM company Naberly Solutions. Fathom said it expects expenses related to these acquisitions to increase going forward but shrink as a percentage of revenue.
Looking forward, Fathom raised its expectations for the full year of 2022 to $425-435 million in revenue.
“We believe Fathom is on track to continue our strong revenue, agent, and transaction growth,” said Harley. “And with the strategic investments we are making in each of our business lines, we look forward to demonstrating profitability in the near future.
For more information, visit https://www.fathomrealty.com.
Jesse Williams is RISMedia’s associate online editor. Email him with your real estate news ideas, jwilliams@rismedia.com.
