F
athom Holdings Inc. (Nasdaq: FTHM) reported its financial results for the fourth quarter and full year ended December 31, 2024. Key highlights include a 24% year-over-year revenue increase and a 59% rise in core business gross profit.

    CEO Marco Fregenal attributed the strong revenue growth to the company's technology-driven platform, which integrates residential brokerage, mortgage, title, and SaaS offerings for brokerages and agents. However, he noted that the fourth quarter was impacted by persistent headwinds in the residential real estate market, including a sudden rise in interest rates.

    Fregenal expressed confidence in Fathom's prospects, citing expected improvements in 2025 driven by increased revenues from recent acquisitions and cost reductions. The company aims to return to its historical 25% annual revenue growth rate, supported by higher gross profit from ancillary services and targeted recruitment.

    Fourth quarter financial results showed total revenue of $91.7 million, a 24% increase from the same period in 2023. Brokerage revenue grew 26.3%, while mortgage revenue increased 11.1%. Title revenue surged 92% to $1.3 million, and technology revenue rose 38% to $1.1 million. Gross profit for Q4 2024 reached $6.7 million, a 25% increase from the previous year. Core business gross profit without Dagley Insurance grew 59% to $6.6 million.