A number of brokerages and real estate tech companies have been rolling out their Q2 numbers, and we’re keep tabs on the big wins. Next up: Fathom
The cloud-based brokerage Fathom Realty announced that the company saw it’s second quarter revenue jump 118 percent year-over-year to $84.2 million. However, the company still experienced a $2.1 million net loss in Q2, even with 10,100 completed real estate transactions.
“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,” said Fathom CEO Joshua Harley via company statement.
“It is important to note the incredible runway for future growth that we have as a result of our very recent entry into additional vertical business lines. We’re just getting started,” Harley continued. “One of the best parts of our story is that we now fully own mortgage, title, insurance, lead generation and lead nurturing businesses, as well as two technology businesses, all helping us attract more home buyers and sellers, which in turn also helps us attract more agents, one of the key pillars in our growth strategy.”
On the talent front, Fathom’s real estate agent network grew 53 percent to 6,950 agents at June 30, 2021—up from 4,554 agents one year ago.