Launched in April, Fathom's Elevate program aims to improve financial performance per transaction by enhancing efficiency. Approximately 120 agents enrolled in an internal soft launch. The firm expects to increase agent enrollment to about 100 per month by the year's end. In Q1 2025, Fathom reported 14,715 agents, a 22.8% yearly increase. Revenue surged to $93.1 million, yet the company still recorded a net loss of $5.7 million, raising concerns over its financial health despite growth in brokerage revenue.
Fregenal stated the new program, Elevate, will enhance financial efficiency, expecting to grow gross profit margin three to four times versus traditional methods, ensuring careful expansion.
With 14,715 agents as of Q1 2025, Fathom experienced a 22.8% year-over-year increase, the highest since Q4 2022, driving a revenue surge to $93.1 million.
Despite attracting agents and increasing revenue by 32.1% to $93.1 million, Fathom faces a net loss of $5.7 million, reflecting ongoing financial challenges.
Fathom's brokerage revenue rose to $88.9 million from $65.4 million year-on-year, yet ancillary services remain modest, with mortgage revenue at $2.6 million.
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