Core Viewpoint - Fathom Nickel Inc. has initiated winter trail access to the Gochager Lake project, which is expected to enhance exploration efficiency and reduce costs significantly [1][4]. Group 1: Project Development - The company has received permission to utilize the access road to the Roy-Lloyd mine, allowing crews to prepare a trail to Benjamin Lake by Christmas [2]. - Following the holiday break, work will continue on historic trails and ice roads to facilitate the transportation of drilling equipment by mid-February 2026 [2]. - A low-frequency electromagnetic geophysical survey will commence in early January to expand the geochemical footprint of the Gochager Lake deposit [3]. Group 2: Cost Efficiency - The winter trail access is expected to reduce reliance on helicopter transport and winter fixed-wing air support, leading to lower overall exploration costs [4]. - The combination of using ice roads and historic trails will allow for more extensive drilling operations at the project [4]. Group 3: Exploration Potential - The Gochager Lake project is part of Fathom's strategy to target magmatic nickel sulphide discoveries, contributing to North American critical minerals supply and supporting the green energy transition [6]. - Historical data suggests an exploration target of 4-5 million tons grading 0.3%-0.4% Ni and 0.08%-0.09% Cu at the Gochager Lake deposit, although this estimate is not well documented [11]. - Fathom has confirmed Ni-Cu grades comparable to historical reports through its drilling efforts, indicating the presence of a significant deposit [11].

Core Insights - Fathom Holdings Inc. announced the divestiture of LiveBy assets to Move Concierge for $3 million, with an expected additional $300,000 annually in contingent consideration based on data-sharing arrangements [1][2][3] - The transaction aims to strengthen the partnership with Move Concierge, enhance Fathom's financial position, and support growth initiatives while retaining access to LiveBy's platform for five years [2][3][4] - The agreement is expected to improve agent retention and customer satisfaction by providing enhanced tools and services [3][4] Company Overview - Fathom Holdings Inc. is a technology-driven real estate services platform that integrates residential brokerage, mortgage, title, and SaaS offerings through its proprietary cloud-based software, IntelliAgent [6] - The company operates under various brands, including Fathom Realty, Encompass Lending, IntelliAgent, Real Results, and Verus Title [6] - Move Concierge offers a no-cost, white-glove service that connects utilities and home services, enhancing the client experience in real estate transactions [5]

Core Insights - Fathom Holdings Inc. has announced a strategic partnership with Move Concierge to enhance the moving experience for clients and agents [1][2][3] Company Overview - Fathom Holdings Inc. is a technology-driven real estate services platform that integrates residential brokerage, mortgage, title, and SaaS offerings [6] - The company operates through its proprietary cloud-based software, intelliAgent, and includes brands such as Fathom Realty and Encompass Lending [6] Partnership Details - The partnership will provide Fathom agents and clients access to Move Concierge's five-star concierge services, aimed at simplifying the moving process [2][4] - Move Concierge has been in operation for over 16 years, serving more than 250,000 customers with an average satisfaction rating of 4.9 stars [2][5] - The collaboration reflects Fathom's commitment to innovation and improving the homeownership journey for agents and clients [2][3] Service Offerings - Move Concierge offers a no-cost, white-glove service that connects utilities and home services, providing clients with a personal concierge to manage their home service needs [5] - The service allows customers to set up home services with a single point of contact, streamlining the process [5][4] Strategic Goals - The partnership aims to position Fathom as a one-stop shop for all homeownership needs, enhancing the overall customer experience [4][3] - Fathom's CEO emphasized the importance of evolving offerings to provide exceptional value to agents and clients [3][4]

Core Insights - Fathom Holdings Inc. has been recognized for its operational excellence, with its subsidiary Fathom Realty being named one of the Top 50 Operations Teams at the 2025 OnCon Icon Awards, highlighting the company's commitment to growth and innovation [1][3]. Company Overview - Fathom Holdings Inc. operates as a technology-driven real estate services platform that integrates residential brokerage, mortgage, title, and SaaS offerings through its proprietary cloud-based software, intelliAgent [6]. - The company's brands include Fathom Realty, Encompass Lending, intelliAgent, LiveBy, Real Results, and Verus Title [6]. Recognition and Awards - The OnCon Icon Awards celebrate impactful and innovative teams, with winners determined by peer and community voting, reflecting the respect and influence these teams have earned [5]. - Fathom Realty's recognition underscores its focus on agent empowerment, operational excellence, and continuous improvement, which are essential for supporting agents and driving growth [3][4]. Leadership Statements - The President of Fathom Realty emphasized the team's dedication to serving agents at the highest level, noting that the award reflects the impact made within the company and the broader real estate industry [4]. - The CEO of Fathom Holdings highlighted the award as an acknowledgment of the Operations Team's remarkable work in supporting the company's growth and delivering a world-class experience for agents and clients [4].

Revenue Growth - Fathom achieved 38% year-over-year revenue growth, reaching $115.3 million in Q3 2025, compared to $83.7 million in Q3 2024[9] - Brokerage revenue increased by 39% to $109.2 million in Q3 2025, up from $78.6 million in Q3 2024[10] - Title revenue grew 28.6% to $1.8 million in Q3 2025, compared to $1.4 million in Q3 2024[10] - Fathom's total revenue for the first nine months of 2025 increased 35.5% to $329.9 million, compared to $243.4 million in the same period of 2024[15] - Revenue for the three months ended September 30, 2025, was $115.3 million, a 37.7% increase from $83.7 million in the same period of 2024[30] - Total revenue for the nine months ended September 30, 2025, was $329.9 million, a 35.5% increase from $243.4 million in the same period of 2024[30] Real Estate Transactions - Real estate transactions increased approximately 23% year-over-year to 11,479 in Q3 2025, driven by the addition of My Home Group[9] - Fathom's agent network expanded by 24.1% to approximately 15,371 agents as of September 30, 2025[10] Financial Performance - Adjusted EBITDA was positive $6 thousand for Q3 2025, marking the first consecutive quarters of positive Adjusted EBITDA in the company's history[13] - GAAP net loss for Q3 2025 was $4.4 million, an improvement from a net loss of $8.1 million in Q3 2024[12] - Net loss for the three months ended September 30, 2025, was $4.4 million, compared to a net loss of $8.1 million in the same period of 2024, representing a 46.5% improvement[30] - Adjusted EBITDA for the three months ended September 30, 2025, was $6, compared to a loss of $1.4 million in the same period of 2024[34] Cash Flow and Expenses - Cash, cash equivalents, and restricted cash at the end of the period were $9.9 million, down from $13.4 million at the end of the same period in 2024[32] - Net cash used in operating activities for the nine months ended September 30, 2025, was $8.6 million, compared to $4.4 million in the same period of 2024[32] - Commission and service costs for the three months ended September 30, 2025, were $105.7 million, up from $76.8 million in the same period of 2024, reflecting a 37.6% increase[30] - The company reported a litigation contingency expense of $2.0 million for the three months ended September 30, 2025, down from $3.1 million in the same period of 2024[30] - The company incurred stock-based compensation of $3.0 million for the nine months ended September 30, 2025, compared to $7.1 million in the same period of 2024[34] Future Plans - The company plans to reassess and potentially reinstate guidance expectations in Q1 2026[20] Acquisition - The company acquired START Real Estate in October 2025, aiming to expand its first-time homebuyer program nationwide[5]

Financial Performance - For the three months ended September 30, 2025, gross commission income increased by approximately $30.7 million, or 39.0%, compared to the same period in 2024, driven by a 23.0% increase in transaction volume[159]. - The total revenue for the three months ended September 30, 2025, was $115.3 million, reflecting a 37.7% increase from $83.7 million in 2024[159]. - Operating expenses for the three months ended September 30, 2025, totaled $119.4 million, an increase of 30.4% from $91.5 million in 2024[161]. - For the nine months ended September 30, 2025, gross commission income rose by approximately $87.0 million, or 38.3%, compared to the same period in 2024, with a total of 33,904 real estate transactions[168]. - The total revenue for the nine months ended September 30, 2025, was $329.9 million, a 35.5% increase from $243.4 million in 2024[168]. - Adjusted EBITDA for the nine months ended September 30, 2025 was $(1.437) million, an improvement from $(2.777) million in 2024[195]. - Stock-based compensation expense for the nine months ended September 30, 2025 was $3.0 million, down from $7.1 million in 2024[195]. - Depreciation and amortization for the nine months ended September 30, 2025 was $4.4 million, slightly higher than $4.0 million in 2024[195]. - The company reported a $2.9 million gain on the sale of a business in 2024, which did not recur in 2025[185]. Cash Flow and Working Capital - Net cash used in operating activities for the nine months ended September 30, 2025, was $(8.6) million, a 97.5% increase in cash outflow compared to $(4.4) million in 2024[183]. - Net cash used in operating activities for the nine months ended September 30, 2025 was $13.6 million, compared to a net loss of $15.3 million for the same period in 2024[184][185]. - Current assets as of September 30, 2025, increased by 50.3% to $37.5 million from $25.0 million at December 31, 2024[179]. - The company had net working capital of approximately $10.9 million as of September 30, 2025, representing a 94.8% increase from $5.6 million at December 31, 2024[179]. - Net cash provided by investing activities for the nine months ended September 30, 2025 was $4.0 million from the sale of Dagley Insurance Agency, down from $7.8 million in 2024[186][187]. - Net cash provided in financing activities for the nine months ended September 30, 2025 included $9.5 million from the issuance of common stock, compared to a net cash used of $4.9 million in 2024[188][189]. Business Operations and Strategy - The company launched "Elevate," a concierge-level service program aimed at enhancing agent productivity and improving transaction efficiency, which is expected to increase agent retention and profitability per transaction[126]. - The company’s flat fee per real estate transaction model allows agents to negotiate their own fees, which is expected to provide a competitive advantage amid changes in industry practices[131]. - The company’s strategic recruiting and acquisition strategy, supported by a new competitive revenue share program, is positioned for profitable growth in the future[132]. - The company’s operating segments include Real Estate Brokerage, Mortgage, and Technology, with Adjusted EBITDA used to evaluate financial performance[136][137]. - General and administrative expenses are expected to increase in absolute dollars due to business growth and compliance requirements, but are anticipated to decrease as a percentage of revenue over time[154]. - The company sold its home and other insurance agency services business on May 3, 2024[149]. - The company is monitoring ongoing antitrust litigation that could impact the real estate industry, but does not expect to change its compensation model adversely[131]. Licensing and Growth - As of September 30, 2025, the company had approximately 15,371 agent licenses, representing a growth of approximately 24.1% compared to 12,383 licenses as of September 30, 2024[134]. - Mortgage loan originations for the nine months ended September 30, 2025 totaled $184.2 million, slightly lower than $192.2 million in 2024[184][185]. - Accounts receivables increased by $5.0 million in 2025, while accounts payable increased by $4.6 million, indicating a timing difference due to increased transaction volume[184]. - The company remains classified as a smaller reporting company as of September 30, 2025, allowing for reduced disclosure requirements[200][201].

Core Insights - Fathom Holdings reported a quarterly loss of $0.13 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.10, but an improvement from a loss of $0.40 per share a year ago [1] - The company achieved revenues of $115.31 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 12.92% and showing a year-over-year increase from $83.73 million [2] - Fathom Holdings has surpassed consensus revenue estimates four times over the last four quarters, indicating a positive trend in revenue performance [2] Financial Performance - The earnings surprise for the recent quarter was -30.00%, and the company had a prior expectation of a loss of $0.03 per share, which resulted in a surprise of -233.33% [1] - The current consensus EPS estimate for the upcoming quarter is -$0.11 on revenues of $94.82 million, and for the current fiscal year, it is -$0.47 on revenues of $411.5 million [7] Market Position - Fathom Holdings shares have declined approximately 15.7% since the beginning of the year, contrasting with the S&P 500's gain of 16.2% [3] - The Zacks Industry Rank places Technology Services in the top 30% of over 250 Zacks industries, suggesting a favorable industry outlook that could positively influence stock performance [8] Future Outlook - The sustainability of the stock's price movement will largely depend on management's commentary during the earnings call and the revisions of earnings estimates in the near future [3][4] - The estimate revisions trend for Fathom Holdings was favorable prior to the earnings release, resulting in a Zacks Rank 2 (Buy), indicating expectations for the stock to outperform the market [6]

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $115.3 million, a 37.7% increase year-over-year from $83.7 million in Q3 2024, driven by a 39% increase in brokerage revenue [17][19] - Gross profit increased by 39.1% year-over-year, reaching over $9.6 million, with a gross profit margin consistent at 8.3% [6][18] - Adjusted EBITDA improved to $6,000 in Q3 2025 from a negative $1.4 million in Q3 2024, reflecting higher revenue and improved operating leverage [20] Business Line Data and Key Metrics Changes - Brokerage segment revenue was $109.2 million, a 39% increase year-over-year, primarily due to the acquisition of My Home Group [20][21] - Mortgage segment revenue increased to $3.5 million from $2.9 million, with adjusted EBITDA of $161,000 compared to a loss of $319,000 in the prior year [23] - Veras Title revenue grew by 28.6% to $1.8 million, although adjusted EBITDA showed a loss of $191,000, worsening from a loss of $92,000 in the previous year [24] - Technology segment revenue was $829,000, up from $785,000, with adjusted EBITDA improving to $488,000 from $152,000 [25] Market Data and Key Metrics Changes - The residential real estate market is showing early signs of recovery, with narrowing spreads between the 10-year Treasury yield and the 30-year mortgage rate [26] - The company anticipates that small brokerages will explore opportunities to merge with or partner with larger firms, indicating a trend towards consolidation in the industry [28] Company Strategy and Development Direction - The company aims to diversify revenue streams with higher margin products and services, expand flagship programs like Elevate and Start, and strengthen attach rates across mortgage and title [29] - The Elevate program is designed to enhance agent productivity and profitability, with over 165 agents already onboarded [12][29] - The acquisition of Start Real Estate is expected to capture a significant share of the first-time home buyer market, with plans to expand into more states [13][29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the housing market's recovery and the potential for programs like Start Real Estate and Elevate to gain momentum [26][27] - The company is focused on achieving operational cash flow breakeven by Q2 2026, with a commitment to disciplined execution [29] Other Important Information - The company ended the quarter with $9.8 million in cash, including $6.5 million from a public stock offering [25] - The company has not made any share repurchases during the first nine months of 2025 [25] Q&A Session Summary Question: Can you elaborate on the go-to-market strategy for IntelliAgent licensing? - The company has established relationships with several hundred small brokers and plans to accelerate discussions with the identified 18,000 brokers in Q1 of next year [31] Question: What are the attach rates for Start Real Estate as it expands into more states? - The attach rate for Start Real Estate is over 70%, and the company anticipates maintaining this rate as it expands into new states [33][34]

Core Insights - Fathom Holdings Inc. reported a 38% year-over-year revenue growth for Q3 2025, driven by a 23% increase in transaction volume and a 24% rise in agent count [1][2][11] - The company achieved adjusted EBITDA profitability for the second consecutive quarter, indicating improved operational efficiency [1][9] Financial Performance - Total revenue for Q3 2025 reached $115.3 million, up from $83.7 million in Q3 2024, marking a 37.7% increase [7][11] - Real estate brokerage revenue increased by 39% to $109.2 million, while mortgage revenue rose by 20.7% to $3.5 million [11] - The net loss for Q3 2025 was $4.4 million, or $0.15 per share, an improvement from a net loss of $8.1 million, or $0.40 per share, in Q3 2024 [8][11] Operational Highlights - Real estate transactions increased approximately 23% year-over-year to 11,479 in Q3 2025, primarily due to the addition of My Home Group [6][10] - The agent network grew by 24.1% to approximately 15,371 licenses as of September 30, 2025 [11] - Fathom's ancillary businesses, particularly title services, saw a 29% year-over-year growth in revenue [3] Strategic Initiatives - The company expanded its title services into Arizona and Alabama and acquired START Real Estate to enhance its first-time homebuyer program [4][11] - Fathom's Elevate program onboarded 70 agents, aimed at increasing productivity and retention [11] - The company plans to operate in a total of fifteen states within the next year, leveraging its proprietary technology [4][5] Future Outlook - Management remains focused on driving agent success and increasing revenue streams through strategic partnerships and program expansions [5] - The company has withheld guidance for Q4 2025 but plans to reassess in Q1 2026 [17]

Core Insights - Fathom Holdings Inc. has announced a strategic partnership with ByOwner, a leading for-sale-by-owner (FSBO) marketplace, aimed at converting FSBO listings into full-service listings with Fathom agents [1][2][3] Group 1: Partnership Details - The partnership will allow ByOwner to refer FSBO sellers and buyers to Fathom's network of agents when they seek professional assistance, creating a significant opportunity as approximately 6% of U.S. home sales are FSBO, with over 20% converting to full-service representation [2] - Fathom agents will benefit from access to motivated sellers and buyers, while Fathom Realty will earn a larger percentage split for each converted transaction [2] Group 2: Company Statements - Marco Fregenal, CEO of Fathom Holdings, expressed excitement about the partnership, highlighting that FSBO sellers needing support now have a direct path to Fathom's full-service platform, which will enhance growth and strengthen Fathom's market position [3] - Colby Sambrotto, CEO of ByOwner.com, emphasized the mission to empower sellers and noted that the partnership adds a high-quality agent option for those seeking full-service support [3] Group 3: Company Background - Fathom Holdings Inc. is a technology-driven real estate services platform that integrates residential brokerage, mortgage, title, and SaaS offerings through its proprietary cloud-based software, intelliAgent [5] - ByOwner.com connects property owners directly with buyers and renters, providing tools and resources for FSBO and for-rent transactions, aiming to maximize returns while allowing owners to maintain control [4]