Significant Revenue Growth
Fathom Holdings achieved a 37.7% year-over-year revenue growth, greatly exceeding analyst expectations of 20%.
Agent Base Expansion
The agent base grew by 24% year-over-year to over 15,300 licensed agents with a low turnover rate of 1% per month in Q3.
Gross Profit and EBITDA Improvement
Gross profit increased by 38.5% year-over-year, with over 50% of that increase contributing to EBITDA. Adjusted EBITDA improved to $6,000 from a negative $1.4 million the previous year.
Ancillary Business Growth
The mortgage company, Encompass Lending, increased revenues by 20.7% and Verus Title saw a 28.6% revenue growth.
Successful Strategic Initiatives
New growth initiatives such as the Elevate program and the acquisition of START Real Estate are driving higher productivity and profitability.