FTHM - Earnings call transcript Q1 2024

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Operator

Good day, and welcome to the Fathom Holdings First Quarter 2024 Earnings Conference Call. Please note that this event is being recorded. I would now like to turn the conference over to Alex Kovtun with Gateway Group. Please go ahead.

Alex Kovtun

Great. welcome, Fathom and XXXX First operator, Call. Conference you, everyone, Holdings to Quarter Thank with Fathom's Gateway Kovtun Alex I'm Group, Investor firm. Relations

like Form section XX-K turn the those including the within set I in of control, Private team, the XX, today's many things to company's may Factors to XXXX. Such would company's the call the that remind Act which forward-looking meaning SEC Litigation December of conditions, company the beyond ended are copies are to other of Before forward-looking website SEC's filings numerous include for listeners at the with statements Reform the year Fathom forth and which subject over Risk XXXX, on Securities I www.sec.gov. statements management available of the of are made

reconciliation website. by turn call included this release, Marco CEO, Regulation over is press of Fathom's during call, result forward-looking in G. A update to differ a required by also on statements, no measure the which of EBITDA, comparable I'll defined as actual law. to call, today's non-GAAP financial is posted now as president non-GAAP forward-looking and be any which undertakes Fathom is With financial those except most this results measure Please materially. we that directly a will could discussing that, obligation SEC Fathom's adjusted measure statements GAAP to the today's after Fregenal. As note Marco?

Marco Fregenal

XXXX. market the to steadfast have one out afternoon, for remained quarter essential in our heart towards want hard Good my of for of Alex. welcome to everyone first work I needed such each of gratitude and face teams incredible you, in Thank dedication, call. trying conditions, our warm us goals you to work sale circumstances. the us our earnings carrying to joining Despite propel and XXXX for especially extend challenging the

positive high-quality sheet, completion our strategy enhancing our enhancing and sale additional enhances you prioritizing first of cash the position. EBITDA to This Insurance bolstering position pleased growing sheet. The financial significant These any resources while annual and support goal, to launching During is Dagley infusion key transaction XX%, milestone four goals for their well to XXXX. The agent further progress for initiatives growth potential of of our tackle a capital our in balance growth this that balance our our previous XX%, announced the our on agents the to flow, to successful earnings businesses. from reinstating confidently challenges. call, advance achieving included essential an I and financial our update am move and us with us our of I year. strategic agent stability remainder agents equips Agency in outlined rate operational

with delighted towards that first $XX million their quarter $XXX,XXX service from am real I quarter seamless Realty's progress QX, made In million of may of Additionally, collaborating from also in continue flow to we positive that. working estate disruption Dagley to cash will few the our to and to approximately our in interest revenues gross $XX.X profitability. greater positive quarter. QX, we strive Nathan the quarters first in agents in million his have team share expect quarter rates, burn to continue in to achieving margin, the of XXX no reducing in with businesses, weeks trend increase of XX.X% to gross to XXXX. a XXXX rising We meaningful can the of relationship cash compared upcoming of of goal current the by we X% client. Fathom saw we transactions XXXX. this profit we our X.X% Fathom's margins. Furthermore, for XXXX a profit anticipate about points QX a as in QX revenue $XX.X the in We to primarily high XXXX, which our estate X.X% ancillary increase QX X,XXX basis from in from total for first quarter. operational of for last XXXX. Real decrease decreased first transactions achieving especially operational the decreased of estate Fathom completed the transactions XXXX X,XXX due real continuation ensure for

a dedication our XX% from Asian brokerage with Traditionally, going forward. industry. challenges exiting numbers firms Despite agent trend, agents positive throughout reflect for in remained our many Notably, we legacy to share brokerage the expanding network. Fathom QX year-over-year real across market low-producing Our poses year unwavering. the growth this estate growth growth and the achieved persevered strategy

mentioned programs and implementing promising high-performing Perks, During agents recruitment our QX The Producer reintroduction refine to I to QX. attract earnings teller agents. continuing our to high-performance yielding a early in agent to call, last results early is of

will this of and achieving that prevalent and work are see industry and and efforts in local annual to the our we few It M&A the next will Asian be sustained XXXX. towards managers goal. to the XX% Our believe quarter driven walkovers significant encouraged years, that progress have in quarters teams activity we by emphasizing XXXX the brokerage growth is our and aim the worth restore consolidation strategic our in and recruiting XX% agent the growth. Ultimately, about dedicated diligent to referrals,

We enhance opportunities sustainability. the are and pursuing success business, immediately offer our and contribute positively to for potential that on long-term focused greatest EBITDA

deployment remain this in pursuing will our opportunistic with We opportunity. capital

on to Latino recent the increase QX team our the $X.X by implemented million $X.X growth ancillary challenges the the businesses. million quarter. dedication past the Lending XX% Now business heroes, to support testament a local have this reaffirming very our on program's Encompass Recognizing with in its we the of commitment underscores quarter. program it mortgage and by we Fathom. The division in reach. Heroes in within Encompass over positive, Building value, let's Lending, faced now collaboration to closely Lending eager been aligning to partnership the authorized and in with revenue our demand we're to the is at a strategic in XXXX Latino its commitment in success within XXXX, This its launched community. to Despite most XXX move agents diverse from dedicated of division outcomes the early Group's surged our promoting initiatives Hometown early to serving segment, team. further with Encompass expanded The

share am strong [ the promising with a ELG. first our sustained of win to growth for and number a mortgage in results for year, increase These file feel monthly to success that momentum compared pleased historic our XXXX The calls highest period quarter in ] history. marked business XXX% is same signaling last going optimism of forward. for I ELG, company's April in the the milestone starts

the EBITDA positive Given this Encompass anticipate year. we second will this of Lending quarter momentum, achieve in

impactful QX QX increase Verus to While in from Elite, X.X% venture, for results first $XXX,XXX March by the nationwide, many attach announced performance $XXX,XXX, based Title usher overall represents positive initial all and performance. We're quarter. XXXX. stockholders' challenge commitment productivity for achieving forge enhance poised is This our such XX, to QX the also partnership and to collaboration optimistic and a an Title, its with expectations. Verus our joint first of have much Verus EBITDA the post surged reflecting of in Title local on we It the Verus an the of Title's bolster rates QX revenue On Asian about growth. needed planned Title's first ventures to agents of joint strategic Verus profitability. prospects elevate establishment exceeded

optimize continue underscores to Our current on strategic our growth ancillary initiatives trajectory title business and focus profitability the in our is businesses for positive environment.

XX% attracting we offer be returning second half value agents, primary Realty, Now the the teams proposition, XXXX. to to annual we forward being them will to market for compelling looking Asian an a ahead, opportunities, unmatched to of that leveraging their pride agents. proposition condition. With empowers our pipeline premier XX% to our on value and At robust look growth the of maximize We Fathom brokerages top-tier earnings. a destination emphasis ourselves current in telling agent

the Our split agents' commitment industry-leading flat in our commission success term. fee underscores long to

year. with as of Realty top remains to XX establishing states objective to footprint continuing we'll X enhancements all nationwide the while delivered goal reaching overreaching various should our brands value X agents. overall agents' serve initiatives added to These technology contribute our out expand the of success. our every roll in and the Our efforts this marketing clear, months, market end by coming the to enhance Fathom In of productivity and

Now touch industry before I'd I like Joanne, to pass the lawsuit. on to call the

are regarding the of resolve business. eager any start impact time. companies year, and we this potential alleviate our on engaged discussions concerns settlements the to investor disclose While therefore, in have to to Nevertheless, we're unable the this specifics active currently at swiftly since matter numerous reached

call so on Vice that, which focusing like about. continue our our Joanne to I'd the Senior more Zach, discuss she pass can to to in priority Our generally Finance, of enthusiastic is detail. results Joanne? the financial are With future President

Joanne Zach

Thanks, quarter start a detailed a by review segment. general will overview results of Marco. first I more XXXX our with will then provide and

revenue, increased XX.X% X increase of compared the and January revenue $XX operations, in quarter. the partially of agent $X.X the fees a a development approximately of in million for first our the to approximately year's million gross attributable X.X% decrease by due mortgage increase increase $XX million decline to first year. Technology in for increase First first for quarter brokerage The first quarter were XX.X% on XXXX revenue, increased decrease agent approximate quarter. offset XXXX. to XXXX certain $X.X quarter was XXXX This an quarter particularly compared included our total $X implemented for Fathom's million expansion to services was first Fathom's X% was of margin technological XXX $X.X basis a revenue, data GAAP for fee approximate regional revenue XXXX. points million, to totaled costs million quarter. to expense $X.X our to increase and $X.X Gross of ancillary in a compared million profit service quarter and with expenditure. due last X% in $X.X This XX% year-over-year was first for expenses marketing resources the which with compared was by for in for expenses platform. General the increase the and decline largely margin primarily million higher decrease insurance noncash administrative business. Despite loss million total XX.X% costs, approximately net caps from first reset leadership, first this was quarter XXXX to first XXXX million of to 'XX of first our per for related the XXXX offshore amortization share $X.X loss optimizing due to the with dollar our XX% costs. Marketing and services team per the the million a of million share partially into incurred advertising outside or a leveraging compared costs loss to an The in $X.XX the the net or to first enhance first quarter to first technology of quarter revenue XXXX of related XX.X% primarily for of development or the primarily reduction The $X.X $X.XX were million $X.X net $X.X XXXX in for was quarter. quarter of million offset quarter of internal $X.X expenses a of of and incurred compared for to XXXX. or in loss

focused quarter, the net million partially in which due EBITDA. increase positive EBITDA first payable our XXXX. to adjusted to our related strategic We, non-GAAP XXXX loss, in margin. Adjusted for QX spend $X.X was the continuing XXXX, team, EBITDA achieve and which was improved above a in financing offset maintain primarily gross activities the and in million very adjusted to measure, loss interest net occurred margins of was note on versus quarter in expense, are Fathom a and in constant discretionary slightly our strategic higher $X.X by noted to relatively first of loss Our increase order

XX, transaction during months Revenue to the Now million I'll March attributable period a compared more $XX.X last primarily spend the XXXX. X.X% results for was in X,XXX first decline, some during which same transactions XX.X% approximately estate a months Real segment X X million business volume. We decrease the transactions the year, for saw represents XXXX, time compared the X,XXX division in our March in real to reviewing quarter ended $XX.X detail. to XX, Estate ended

Our due transaction to interest volume higher rates. primarily decreased

rates rising in lessened was the of the agent transaction impact base. due XX% interest However, to volume expansion negative on our

Real of and XXXX, commencement transaction compared a EBITDA was our to commission of XXXX. Adjusted first million services in X.X% March of QX division X% XX for Estate commencing to ended attributable months division from Estate approximately $X.X revenue implementing to the to $XXX resetting EBITDA cap in in of addition was of decrease our XX, percentages. Gross High-Value per in X compared the decrease largely increasing a management the $X.X of increased of in average fee transaction fee X Property increase margin 'XX. charges our brokerage our an each Realty for the profit months largely agent's to our of the on at our internal division to million a beginning $X.X QX XXXX to from During agents in XX, to $X,XXX, million January compared during $X,XXX quarter. margin Technology X, the to XXXX brokerage transactions, ended adjusted was X.X% provided. new Fee decrease XXXX, to in transaction the $XXX annual due Real XXXX, was small in March first year the quarter first $XXX the Fathom due This This primarily and CRM to

XXXX. We in revenue our improvement made driven our our to QX are million the loan grew to in officer excited increase about of growth in This $X.X base. very in XXXX essentially mortgage was Mortgage compared significant strategic QX $X.X by million business. revenue

decline increased of 'XX our up for from DIA, same EBITDA XXXX quarter, $X.X due volume received for last same QX from the for officers base to Mortgage in an $X.X down revenues quarter XXXX $X.X for business, to XXXX QX a loss million primarily bonuses up million million to the of was first compared Our $X.X the XXX% period compared EBITDA QX year. XXXX. for adjusted EBITDA to had DIA quarter of insurance a million previous $X.X $X.X has insurance first adjusted XXXX adjusted quarter, million first for of principal year. million the to generated carriers. compared XX% XXXX. start positive loss the file from in loan in of to improved the loan XX%,

$X have $X we approximately our business we over cash for As million the on previously months. XX shared, in next DIA additional an upfront sold million May X and

with growth Our reflect us gain This transaction an this provides QX approximate the million disposition. our to from will P&L strategy. cash $X.X fuel

for agents for the XXXX of continued compared for offerings XXXX Verus We of QX QX appreciative $X.X to are Fathom. our to DIA compared million of we further for collaboration clients. Verus million $X.X 'XX. have And they XXXX, Fathom negative had negative QX services a to very to to revenues $X.X the quarter $X.X and done an all X.X%. increase Title's Title and the for team million forward elevate our a look EBITDA was adjusted insurance million first available and Realty

producing in Texas ventures estate for also real add title in revenues near anticipate business for orders QX early revenue top meaningful which future the to commenced joint tilted and adjusted EBITDA our will our open New QX our in states, potential more bodes 'XX future. well business. higher-margin We with and new venture, that similar which joint agents,

Technology in for our segment. management in $X.X QX Revenues inclusive to of Fathom $XXX,XXX internal to charges approximately CRM million and Moving XXXX, Realty transaction services. to increased

cash market enhancements We XX given hand, from million quarter our our real estate of with which, $X $X cash sheet, approximately over to better as cash agents to noted, that upfront cash conditions. and serve sheet received and the combined million are the DIA, sale the received months. balance in to our of drive continuously ended million on to $X with be next was on in the technology focus our regards our building balance keenly revenues. dynamic we to In continue platform We

positioned and strongly to implement achieve strategy maintain adjusted We our are positive growth and EBITDA. to

guidance second Now for quarter for our of the XXXX.

call second to quarter of million and the that, For million. the in Fathom of the in range EBITDA revenue million to remarks. the closing back range $X.X of turn $XX $XX will over XXXX, With million for expects adjusted total I Marco $X.X to

Marco Fregenal

We this the open better market our we of steps thank to half to on hard position in and and continue clients. work execution, for and we're Joanne. that, as operator, on I Fathom call for the preparation the second serve team year. taking in focused you, the want this entire questions. current Thank let's necessary navigate to at the With remain environment Fathom its

Operator

first comes Your Instructions] with from question [Operator John Stephens. Campbell

John Campbell

A couple here.

one, On out on parse the on if first P&L, impact the on And then you guidance? expecting? impact the maybe what XQ the maybe if Dagley, could you're we full could touch year the

Marco Fregenal

Sure.

have million to $X.X the For it to reduction because $X.X will EBITDA revenue, have top do for of million about a And then line -- it year, right? we compared compared the numbers, we of terms revenue. our $X $X would of P&L million, to last million of the our the terms remaining in year year, be about into and QX last in impact be

guidance -- part our of guidance does terms we longer of In business. a not right, DIA, their it's -- because say included for include our

DIA, something we extra it if EBITDA, that. did would have $XXX,XXX an have in So about like

And impact QX. so the that on be in EBITDA will

QX. $XXX,XXX, guiding we we're including feel positive even we as discussed, between as So for feel positive we had and achieving EBITDA that with previously about $XXX,XXX very DIA, not

John Campbell

And That's I'm I XX.X% I doing on here, gross the math I'm -- Okay. but wrong margin, gross might showing guess helpful. a margin. then

think I wrong? I that think I have it mentioned was also in think I Do you release, the XX.X%. you guys -- And XX.X%. press

Marco Fregenal

and total get know agent operation you the margin. then So and remove then you support Operational have to reduce yes, costs. or the from you other at the costs remove commission I costs two add direct then gross -- When you revenue, costs. support. we those have related and look when to gross margin, two subtract you and

John Campbell

Okay.

doing commission Okay. just cost. this the been We've

That Okay. makes sense.

Marco Fregenal

ancillary the all the direct costs for other support operational are costs businesses. The Yes.

John Campbell

Okay.

competitors got just costs. commission-related there some tend who out you've think do to I the

that makes So sense.

Marco Fregenal

Yes. I more to that say would be we're transparent. trying

John Campbell

get totally I that. Yes.

Okay.

gross So increases impact kind got you I and then Maybe out quarter the the expect if out that fee of help in margins you've how obviously rest the of know trajectory year? you us to broadly on here. January could parse X. of the out the play the came things

Marco Fregenal

is increase the additional year, is of the right, profit things. so have that We $XXX,XXX dollar, revenue transaction. the several grow, business of gross they will expect gross to will or to that impact margins rest and for the higher due do in a profit additional So for per primarily ancillary the fees quarter. One about continue

So that's number one.

QX, Second, transactions the that with old the way annual because calculated. in we had fee is the closed still of annual fee

And so the that have transactions while for as a well high-value QX, higher we we're annual to will additional of additional much get close extra with fee. into number $XXX going fees as

QX, will fees. the And a will a higher we transactions course, with then, of percent it in also of business So more margin. close additional gross impact in positive and as title, have mortgage close the

forward. anticipate profit the do to from we margins increase gross So XX.X% going

Operator

Your next comes with Raj question from Riley. B. Sharma

Rajiv Sharma

Marco, addressed is just I you EBITDA Dagley, on My the know impact. first question,

bigger would but up this it's that question, that position -- for understand well? divisions for I liquidity, Just or imply why a sell other be it? of sort does that would as that

Marco Fregenal

[Technical thank Difficulty] for your you Raj, question.

Operator

Your from next [indiscernible]. question comes

Marco Fregenal

guys hear Are me? Can you there? you

Operator

We couldn't, Marco.

said. you to You what need repeat

Marco Fregenal

So I'm so sorry.

and take the me then Let question Rajiv's question. [ Dillon's] answer I'll first,

return of way a could So a will utilized the Dagley, much just be to DIA resources us our that to stockholders. or Raj, felt sale they that were the with we available higher in that give

so we better the way. that that felt implemented just capital much could in And be

in partnership of our any terms are going clients our and Dagley not to have continues services. deterioration Second, agents with and

our So our assets putting wanted was the possible provide service same of give best level stockholders combination the we to time, a felt the way to return continue best at just clients. that the it of our to we in

we just the that that. to way best So do felt was

Operator

Please go ahead with your question, Dillon?

Dillon Heslin

me? hear you Can

Marco Fregenal

can. Yes, we

Dillon Heslin

skew are far just agent sort meaning know what tending wanted based on based, this more Asian they basis? to so on like about I than ask productivity. legacy productive the higher Have to they your are more a of like-for-like you about you've agents added might them, year

Marco Fregenal

Dillon. question, Great Yes.

recruiting. is mid We felt agents. that last really just good sometime focused half Producer is on at we year, producing second us momentum. the Perks of had happened last bit stopped little higher our we year. Asian what program, clearly, The a we of started kind like So And which hurt

of in So productivity Perks higher-producing year, agent show by little the of in bringing going reality really a QX lack it right? So implemented. that hurt different agents. early the agents focused us early the a [Indiscernible]. And results transactions way, number by the on the But we to think certainly agents in percentage last absolutely signs producing we that reinstituted of higher of QX we of focus board variety higher beginning of is has programs per that the QX, is by and are QX. a a on I see on is Producer program we that based late that which, and producing are of what that clear the And being higher we're of higher did us other programs the terms are the agents, recruiting on

Dillon Heslin

could just the I insurance. If on follow-up Great. a ask

the just benefit that still You to not agents with explain and work that mentioned it guys of Dagley. it a is anymore, today are press Or just have going is there financial relationship? works? in to the sort you still your how you but Can release again

Marco Fregenal

insurance. of done led job Dagley has many of to great do Many, will deal, agents continue provide great we a is not and relationship clients to do help. -- certainly it. have of the that job. they And money is looking and clients do team we'll forward a to as the it great Yes, to in can saved transaction continue them continue the a our The we're deal that. It that part by Nathan

and relationship really perspective therefore, continue basically, them But and continue business, And that excited to relationship. so our that our send will clients we'll to to great the we're the giving about from agents. continuing value

excited very about that. we're So

Operator

comes question Davidson. D.A. [Operator Tom White with from Instructions] Your next

Wyatt Swanson

seeing had give just I could what one and, on to XQ in agent you're Tom. productivity whether some for far so the color market? on you related overall into Wyatt is This

Marco Fregenal

you Sure. Thank your question. for

couple of So a things.

guidance our QX EBITDA, $XXX,XXX in a terms and and of to a million significant of loss QX we for So of from positive right, the $XXX,XXX. about $X.X gave guidance change from between

So seasonality coming We're we market. seasonality. seeing are back to seeing certainly the

transaction a us And we're which lead positive title also and to would of mortgage so we EBITDA. Moreover, seeing anticipate seasonality closing, a our higher in the our in business. number business

So this all estate is real the side.

EBITDA all of we an of is being three positive given parts So QX, be positive in to adjusted business, terms three for our them QX all to the results. which look anticipate exciting forward that. time for us, certainly EBITDA We

productivity, of rates what reasons. is to seasonality, terms morning, In have this just agent their interest are. are also and buyers picking come interest transaction QX higher quarters. right? two adjusting agent and seeing clients yes, people, seeing QX really rates are productivity We're we to believe, down up, Actually, X.XX. One I

And that. so buyers around are getting think heads their I

to house. have interest I a buy and These are rates the

a market, level of our that's still in is so a are It all going improvements buyers great tough seeing And from greater And QX. we acceptance why a we're are acceptance to terms have significant businesses of that. in from a but there buyers. is three of seeing

well. in into and we increase agents in to recruiting going going QX part is as QX are because part productivity higher seasonality, of So productive because in

Wyatt Swanson

Got it.

been how the it's Okay. but how That's remarks, related you that's going? then I you interested joint mentioned Verus helpful. bit X have really about going prepared Title so it just to in a the think venture. I far? And talk Could

Marco Fregenal

Yes.

believe mid-QX. JV is So joined on of Texas started X. very with of terms numbers significant we number we to The joint impact interested, a -- We results very far were announced the And in April in the going pleased been yes, agents the our we've have that venture company JV. that thus EBITDA.

and of is many we more agents part this the statement income. look why going income earn right? to that we these doing of are Fathom partnership earn more the at country, our and our haven't It helps agents across So it with a helps made is

we we implementing have very across there partnerships And forward the we other very, will for statement into of looking different several So states And end that's early of to year, doing look the across the these that I the think across of JVs more be JV why the Verus. country. But the results been by JVs made promising. more the country. are

Operator

is B. question a from Sharma next Riley. Raj follow-up question The with

Rajiv Sharma

to at understand impacted hard, agent the are next And agent fees, have what few the Do really been the could acquisitions tough? expecting changed what few wanted we quarters? think that you the I be has growth. groups? Has of in in Marco, you -- expect all? And small next there'd growth

Marco Fregenal

a great -- about implemented So of would see we little question. a What impact. negative it fees, know we they first. And the let's when talk the bit have fees that

of the that. was impact and in QX, which again, anticipated agents So part a that negative And agents. And we agents did normal thing, in QX losing higher-producing many, but who agents, lose we some we because of fees. had some were related some the that not will to a be lost happened

M&A. statement, in enormous including Small As well. we as the brokerages, amount we look are at the market, we of brokers the terms and of market large activity teams, in seeing made an

do the discuss would activity will -- great I in that a growth. our XX% that terms to in of is deal there sorry, goals and anticipate So of that be that. QX, that's agent in QX of sorry, I'm QX we the -- goal. If And terms QX half it to second be that's least. do growth, And to in we agent activity. at return there related are just -- will we that believe QX year, QX, We of and XX% significant to

-- this we're way, going I we're very be are that way. in be this want careful Now to to in do to and to intelligent going a very we clear a very do going

a do small we going we're second have we very believe half as some that. But so number be of workovers do happening the on as well And the year. to how we of opportunistic activity that M&A in

positive sure some EBITDA, half accretive, terms in profitability in impact have in certainly will is not be and lot the business. of this that only a second activity, year. they these are we and there the anticipate of But this Raj, a make impactful taking place the of of of will We terms we of

Rajiv Sharma

Great.

on quarter, is operating burn. EBITDA, for Just from positive I is transaction. you cash the have cash operating But the that the the for plenty second cash understand flow? there a obviously now guidance what your -- of

Marco Fregenal

point. $X.X by was a I $XXX,XXX No, EBITDA about, -- not million. and QX this at we I our cash with burn operational mean, believe, in negative

that will to the deduct So you kind our $XXX,XXX. difference right? be We EBITDA of in the can in other the think costs, $XXX,XXX

do So QX, anticipate working to we some as small burn as are certainly in we possible. much cash that minimize hard but

your to for the business, of have we not the only title Fathom plenty going and mortgage to are the the So the about there well our led well. growing plenty the ELG why mortgage estate three the has half run only talk we're grow in increase we excited again, to -- business. cash we now is walkovers of And business we and real year the QX. are meaningful more that but be why walkovers to also for enthusiastic pointed terms business, title but Joanne the walkovers as which forecast growing that. We very the There the to the about reasons, have very And is comment Realty but business, business, looking of increased significant not of the loan in the but as increased accurate business think, and are right? And its run of facets way, of we has is at the second business, this out, a of about into into feel is offers, in It of for loan by that so because terms market in potential all business. future. the that's in we the EBITDA one significantly this right? As growth for offers business, number and positive business of revenue

Operator

any session. this questions This the I conclude There remarks. back Instructions] Marco does are would like for time. conference [Operator further question-and-answer no at to turn closing to our

Marco Fregenal

path. Fathom today Thank you for our for joining call interest your and in

your you for Fathom's future who work wonderful continue updates trusting with us. hard and We'll For Thank a those are sharing you you. look of to forward week. Have all. thank you to shareholders,

Joanne Zach

you. Thank

Operator

The now attending for you conference concluded. presentation. Thank is today's

disconnect. now may You

Fathom (FTHM) 9 May 242024 Q1 Earnings call transcript