Fathom Holdings Q1 revenue down 9% to $70.5M, net loss $5.9M; targets positive EBITDA in Q2

Fathom Holdings Inc.

2024-Q1 EPS reported -$0.31 revenue$70,503,000

Revenue $70.5M (-9% YoY); GAAP net loss $5.9M ($0.31/sh) vs. $5.7M loss prior year.
Gross margin improved to 10.3% from 8.7%; Adjusted EBITDA loss $1.5M (relatively flat YoY).
Agent count up 12.8% to ~11,986 licenses; transactions down 9.7% to 7,703.
Q2 2024 guidance: revenue $86-89M, Adjusted EBITDA $200K-$500K (first positive quarter).
Sold Dagley Insurance Agency for $15M cash ($8M at close, $7M over 24 months) to strengthen balance sheet.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fathom Holdings Inc. reported the first quarter ended March 31, 2024 results: revenue $70.5 million, net income $5.9 million, or $0.31 per share, EPS $0.31 per share.

Period: the first quarter ended March 31, 2024
Revenue: $70.5 million
Net income: $5.9 million, or $0.31 per share
EPS: $0.31 per share
Result: reported results

Exact text from the filing

transactions decreased primarily due to continuation of high interest rates in the first quarter of 2024. Fathom’s total revenue decreased 9.0% for the 2024 first quarter to $70.5 million, from $77.5 million for the 2023 first quarter. The decrease in total revenue was comprised of a 10.6% decrease in brokerage revenue largely attributable to the decline in

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Source: SEC EDGAR

accession 0001104659-24-059378

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