Total revenue increased 81.4% for the first quarter of 2022 to $90.1 million, up from $49.6 million over Q1 2021. Fathom completed approximately 10,087 real estate transactions for Q1 2022, an increase of 47% from the same quarter last year. Fathom’s real estate agent network grew 49% to 9,006 agents on March 31, 2022, up from 6,045 agents on March 31, 2021.
“I am very proud of our first-quarter results, and believe we can continue to achieve significant growth, even in a challenging real estate market,” said Fathom CEO, Joshua Harley. “We are demonstrating the power of our truly disruptive business model quarter-after-quarter through innovation and delivering real, long-term value to our agents, employees, and clients.”
Segment revenue for Q1 2022 was as follows:
|Three months ended|
|(Revenue $ in millions)||March 31, 2022|
|Real Estate Brokerage||$84.1|
*Other primarily includes revenue generated from Fathom’s title and insurance business.
“We are continuing to strategically invest capital to enhance our solid foundation for the sustained long-term growth of our newer business lines,” said Fathom President and CFO Marco Fregenal. “I believe Fathom remains on track to continue strong revenue, agent, and transaction growth, and with the thoughtful investments we’re making in each of our business lines, we look forward to demonstrating sustainable profitability, one of our key priorities.”
Read the full press release including Q1 2022 company highlights HERE