Record 118% Year-Over-Year Revenue Growth
The just-released Q2 2021 earnings report shows a record 118% revenue growth, 74% transaction growth, and 53% agent growth for 2Q 2021 year-over-year.
“Quarter after quarter, our results continue to demonstrate the power of our truly disruptive business model. In fact, we more than doubled revenue for the second quarter. It’s easier to have a strong quarter when your previous year’s Q2 was weak due to headwinds caused by the pandemic, however, Fathom’s previous Q2 actually saw the strongest revenue growth of all publicly traded real estate companies, and we weren’t even public yet. To have this level of revenue growth stacked on top of a previous stellar performance is something we are very proud of,” said Fathom CEO Josh Harley.
“With several strategic acquisitions now completed and contributing to our financial results, we are focused on building our cash position through operational cash flow generation,” said Fathom President and CFO Marco Fregenal. “Our highly disciplined approach as good stewards of the money with which you’ve entrusted us should provide us with the capital needed to execute on our plan to increase our agent network and transactions in line with historical growth.”
2Q 2021 Highlights:
- Acquired fast-growing regional brokerage, Epic Realty. Based in the metropolitan Boise, Idaho area, Epic includes more than 350 agents who provide full-service residential real estate services for buyers and sellers.
- Expanded Verus Title to the Dallas-Fort Worth (DFW) market led by Chris Mitchell, a 20-year title industry veteran. Texas is Fathom’s largest residential real estate market.
- Completed the acquisition of technology platform LiveBy, to offer competitive, hyper-local tools for real estate professionals, and SaaS offerings to brokerages and agents outside of Fathom.
- Acquired E4:9 Holdings, a holding company with three operating subsidiaries, Encompass Lending Group (mortgage), Dagley Insurance Agency (home and other insurance), and Real Results (lead generation). The acquisition is expected to provide agents and associates with new opportunities to grow their businesses while giving consumers a one-stop shop for all of their housing needs.
- Subsequent to the end of the second quarter, created a Hispanic division to better assist this underserved community. Led by real estate industry veteran Flavio Jimenez, the division will serve a quickly expanding residential real estate sector.
Read the full press release including recent highlights of the second quarter HERE.