Business
Fathom Holdings Inc. Reports 79% Revenue Growth for 2021 Fourth Quarter; 87% for Full Year 2021
-- Raises 2022 Full Year Guidance -- CARY, N.C., March 8, 2022 /PRNewswire/ -- Fathom Holdings Inc. (Nasdaq: FTHM), a national, technology-driven, end-to-end
About this update from Fathom Holdings Inc.
[{"type":"text","content":"-- Raises 2022 Full Year Guidance --\n\n\nCARY, N.C., March 8, 2022 /PRNewswire/ -- Fathom Holdings Inc. (Nasdaq: FTHM), a national, technology-driven, end-to-end real estate services platform integrating residential brokerage, mortgage, title, insurance, and SaaS offerings for brokerages and agents, today announced financial results for the 2021 fourth quarter and full year ended December 31, 2021.\n\n \n \n \n \n \n \n\n \nFourth Quarter 2021 Financial Results\nTotal revenue increased 79% for the 2021 fourth quarter to $95.5 million, from $53.4 million for last year's fourth quarter. Fathom completed approximately 10,800 real estate transactions for the 2021 fourth quarter, a 43% increase from the 2020 fourth quarter. Fathom's real estate agent network grew 48% to 8,100 agents at December 31, 2021, up from 5,471 agents at December 31, 2020. \nSegment revenue for the 2021 fourth quarter was as follows:\nThree months ended December 31, 2021\n(Revenue $ in million)\nReal Estate Brokerage\n$89.7\nMortgage\n$2.7\nTechnology\n$0.7\nOther*\n$2.4\n*Other primarily includes revenue generated from Fathom's title and insurance businesses.\n\"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. \"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.\n\"Fathom is winning through innovation and consistent growth, and by delivering real, long-term value to our agents, employees, clients, and shareholders,\" Harley said. \"We believe Fathom is on track to continue our strong revenue, agent, and transaction growth, and with the strategic investments we are making in each of our business lines, we look forward to demonstrating profitability in the near future.\"\nGAAP net loss for the 2021 fourth quarter was $3.6 million, or a loss of $0.24 per share, compared with a loss of $1.3 million, or a loss of $0.09 per share, for the 2020 fourth quarter. Weighted average diluted shares outstanding increased approximately 13% for the 2021 fourth quarter, compared with the same quarter last year. The year-over-year chan...