Quarterly Revenue Passes $100 Million for the First Time!
The just-released Q3 2021 earnings report shows 81% revenue growth, 42% transaction growth, and 50% agent growth year-over-year.
Total revenue for the third quarter of 2021 increased 81% to $100.9 million, from $55.8 million for the same period last year. Fathom completed 11,498 real estate transactions for the 2021 third quarter, a 42% increase from the 2020 third quarter. Fathom’s real estate agent network grew 50% to 7,536 agents through September 30, 2021, up from 5,026 agents one year ago.
Our outstanding third-quarter results reflect meaningful growth in revenue, real estate transactions, and agents, clearly demonstrating the power of our disruptive business model. We’re winning the right way… through hard work, innovation, and generating real long-term value for all of our stakeholders,” said Fathom CEO Joshua Harley.
“Our focus on achieving positive cash flow from operations should enable us to continue growing our existing businesses,” said Fathom President and CFO Marco Fregenal. “As always, we are committed to being good stewards of the money with which our shareholders have entrusted us, as we further solidify our position as a leading, national, technology-driven, end-to-end real estate services platform.”
Other 3Q 2021 Highlights:
- Expanded real estate brokerage operations into Minnesota and New Mexico. Fathom now operates in 34 states and the District of Columbia.
- Launched LiveBy Local, to provide agents with a robust suite of hyperlocal products to help them drive increased transaction volumes. LiveBy now provides technology and/or data to more than 750 companies and 100,000 real estate agents across the country.
Read the full press release including recent highlights of the third quarter HERE.