Did Fathom Holdings beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for Fathom Holdings year over year?

What does Fathom Holdings do and what are its main business segments?

What were the key takeaways from Fathom Holdings's earnings call?

What is Fathom Holdings's gross profit margin?

What is the market's earnings forecast for Fathom Holdings next quarter?

What is Fathom Holdings's latest dividend and current dividend yield?

What were the key takeaways from Fathom Holdings’s earnings call?

- **Revenue Growth**: 37.7% YoY to $115.3M, driven by 24% agent expansion and 38.5% gross profit increase.
- **High-Margin Ancillary Growth**: Mortgage (+20.7%), title (+28.6%), and tech (+18%) segments led by 7-10x higher gross margins.
- **Strategic Initiatives**: Elevate (165 agents onboarded), START (70% attach rate), and ByOwner partnership for 500K/month visitors.
- **Profitability**: Adjusted EBITDA turned positive ($6M) vs. negative in 2024, with 50%+ gross profit conversion.

**【CEO Opening Remarks】**
- Q3 2025 revenue grew 37.7% YoY to $115.3M, exceeding analyst expectations. Adjusted EBITDA turned positive at $6M vs. -$1.4M in Q3 2024.
- Agent base expanded 24% YoY to 15,371 agents, with 1% monthly turnover (industry average ~5%).
- Gross profit rose 38.5% YoY to $9.6M, with 50%+ conversion to EBITDA.

**【CEO Detailed Commentary】**
- Ancillary businesses (mortgage, title, tech) delivered 18-28.6% revenue growth, generating 7-10x higher gross margins than brokerage.
- Elevate program onboarded 165 agents, offering 20% commission split and 5x higher gross profit per transaction.
- START Real Estate (acquired Q4 2024) achieved 70% mortgage attach rate, on track for 400 transactions in 2025.
- ByOwner partnership provides access to 500K+ monthly visitors in the for-sale-by-owner market (6% of U.S. listings).

**【CFO Financial Commentary】**
- Brokerage segment revenue +39% YoY to $109.2M, driven by 24% agent growth and 6% gross margin.
- Mortgage segment EBITDA improved $481K YoY to $161K, title segment EBITDA loss narrowed to -$191K vs. -$92K.
- R&D expenses +5.9% YoY to $1.8M, marketing -28.6% YoY to $1M due to efficiency gains.

**【Q&A Highlights】**
- IntelliAgent licensing: 18,000+ small brokerages targeted, with 300+ in early discussions. First deals expected Q1 2026.
- START Real Estate attach rates: 70% in Colorado, maintained at 70%+ in Utah, Arizona, Nevada expansions.
- Elevate program: 50% of transactions now from Elevate agents, 5x gross profit margin advantage.

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