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Fathom Holdings Inc. (FTHM-1.04%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The company reported a decrease in gross commission income to $314.7 million from $325.4 million in the previous year, primarily due to a decline in transaction volume.
Other service revenue increased by 3.1% to $20.4 million, driven by growth in mortgage loans and title service transactions.
Operating expenses decreased by 2.7% to $358.6 million, with commission and service costs decreasing by 3.2% to $306.9 million.
General and administrative expenses decreased by 6.9% to $33.6 million, largely due to the sale of the insurance business.
The company recorded a net loss of $21.6 million, compared to a net loss of $24.0 million in the previous year.
Fathom Holdings reported a cash balance of $7.1 million as of December 31, 2024, a slight decrease from $7.4 million at the end of 2023.
During the year, the company completed the acquisition of My Home Group, expanding its presence in Arizona and Washington.
Fathom Holdings also sold its insurance agency business, Dagley Insurance Agency, generating a gain of approximately $3.0 million.
The company raised approximately $2.7 million in a registered direct offering of common stock in March 2025 to support its operations.
Fathom Holdings continues to focus on expanding its real estate brokerage, mortgage, and technology segments, while managing costs and improving operational efficiency.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Fathom Holdings Inc. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.