olivLaw · US equity research
Fathom Holdings, Inc. FTHM
Real Estate Agents & Managers (For Others) · SIC 6531 · Vertical: Real Estate Agents & Managers (For Others) (SIC 6531)
Fathom Holdings is a US technology-driven real estate platform combining residential brokerage with mortgage lending, title services and SaaS software, built on a 100% commission model. The company grew revenue in 2025 but remained loss-making, and in 2026 agreed a merger with Bed Bath & Beyond, which makes its profile especially worth watching. Total revenue reached 420.5 million USD.
At the close of 04 Nov 2026, Fathom Holdings, Inc. (FTHM) stock was 0.18 USD (+2.87% on the day), with market capitalisation 6.1 m USD, beta 0.91, 52-week range 0.17–1.49 USD. Latest reported quarter (Q2 2026): revenue of 114.6 m USD (−5.6% YoY), net income of -6.2 m USD, diluted EPS -0.19 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 26.4
- oversold (≤ 30)
- Bollinger (20, 2)
- 0.16 – 0.21
- in the lower half of the band · %B 0.32 · band width 26.9%
- SMA 50 / 200
- 0.40 / 0.74
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.06 / -0.08
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −21.1% | −1.1% | −20.0 pp | — |
| 3 months | −75.7% | −0.5% | −75.3 pp | — |
| 6 months | −78.7% | +4.4% | −83.1 pp | — |
| Year to date | −82.3% | +12.3% | −94.6 pp | — |
| 1 year | −86.3% | +13.5% | −99.9 pp | −16.3% |
| 3 years | −94.3% | +76.4% | −170.7 pp | −12.1% |
| 5 years | −99.4% | +63.7% | −163.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 83.7 m | 91.7 m | 93.1 m | 121.4 m | 115.3 m | 90.6 m | 86.4 m | 114.6 m |
| Operating income | -7.8 m | -9.0 m | -4.4 m | -2.4 m | -4.0 m | -4.7 m | -7.6 m | -4.3 m |
| Depreciation & amortisation | 1.3 m | 1.4 m | 1.4 m | 1.5 m | 1.5 m | 1.5 m | 1.4 m | 2.6 m |
| Pre-tax income | -8.1 m | -7.3 m | -5.6 m | -3.5 m | -4.3 m | -6.7 m | -8.2 m | -6.2 m |
| Income tax | 17.0 k | -1.1 m | 17.0 k | 62.0 k | 24.0 k | -17.0 k | 20.0 k | 22.0 k |
| Net income | -8.1 m | -6.2 m | -5.6 m | -3.6 m | -4.4 m | -6.7 m | -8.2 m | -6.2 m |
| Diluted EPS | -0.40 | -0.29 ≈ | -0.24 | -0.13 | -0.15 | -0.21 ≈ | -0.25 | -0.19 |
| Operating cash flow | -330.0 k ≈ | -317.0 k | -5.7 m | -5.9 m ≈ | 3.0 m ≈ | -11.9 m | -99.0 k | -4.5 m ≈ |
| Capex | 34.0 k ≈ | 5.0 k | 25.0 k | 29.0 k ≈ | 24.0 k ≈ | 43.0 k | 37.0 k | 47.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 111.2 m | 176.8 m | 330.2 m | 413.0 m | 345.2 m | 335.2 m | 420.5 m |
| Revenue YoY | unavailable | +59.0% | +86.8% | +25.1% | −16.4% | −2.9% | +25.4% |
| Net income | -4.1 m | -1.3 m | -12.5 m | -27.6 m | -24.0 m | -21.6 m | -20.3 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | -0.12 | -0.88 | -1.73 | -1.47 | -1.07 | -0.72 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -3.7% | -0.8% | -3.8% | -6.7% | -6.9% | -6.4% | -4.8% |
| Free cash flow | -1.2 m | -1.3 m | -12.6 m | -7.5 m | -10.6 m | -4.7 m | -20.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 5.8 m USD
- Financial debt
- 5.6 m USD
- Net debt
- -187.0 k USD
- Equity
- 37.4 m USD
- Total assets
- 78.0 m USD
- Debt / equity
- 0.15x
- Current ratio
- 1.06x
- ROE
- -49.5%
- ROA
- -26.5%
- FCF margin
- -4.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 176.8 m | 330.2 m | 413.0 m | 345.2 m | 335.2 m | 420.5 m | SEC (XBRL)· 30 Mar 2026verified |
| Cost of revenue | 166.4 m | — | — | — | — | — | SEC (XBRL)· 24 Mar 2021verified |
| Gross profit | 10.4 m | — | — | — | — | — | SEC (XBRL)· 24 Mar 2021verified |
| Operating income | -1.3 m | -16.1 m | -26.8 m | -23.3 m | -23.5 m | -15.6 m | SEC (XBRL)· 30 Mar 2026verified |
| Depreciation & amortisation | 165.0 k | 2.7 m | 5.3 m | 5.9 m | 5.4 m | 5.8 m | SEC (XBRL)· 30 Mar 2026verified |
| EBITDA | -1.1 m ≈ | -13.4 m ≈ | -21.4 m ≈ | -17.3 m ≈ | -18.0 m ≈ | -9.7 m ≈ | SEC (XBRL)· 30 Mar 2026derived |
| Interest expense | 84.0 k | 7.0 k | — | — | — | — | SEC (XBRL)· 09 Mar 2022verified |
| Pre-tax income | -1.3 m | -15.7 m | -27.7 m | -23.8 m | -22.6 m | -20.2 m | SEC (XBRL)· 30 Mar 2026verified |
| Income tax | -8.0 k | -3.2 m | -54.0 k | 148.0 k | -1.0 m | 85.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Net income | -1.3 m | -12.5 m | -27.6 m | -24.0 m | -21.6 m | -20.3 m | SEC (XBRL)· 30 Mar 2026verified |
| Diluted EPS | -0.12 | -0.88 | -1.73 | -1.47 | -1.07 | -0.72 | SEC (XBRL)· 30 Mar 2026verified |
| Weighted average diluted shares | 11.4 m | 14.3 m | 16.0 m | 16.3 m | 20.2 m | 28.2 m | SEC (XBRL)· 30 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 28.6 m | 37.8 m | 8.3 m | 7.4 m | 5.8 m | 5.8 m | SEC (XBRL)· 30 Mar 2026verified |
| Receivables | 1.6 m | 4.0 m | 3.1 m | 3.4 m | 3.1 m | 3.7 m | SEC (XBRL)· 30 Mar 2026verified |
| Current assets | 32.9 m | 54.5 m | 18.8 m | 23.2 m | 25.0 m | 35.9 m | SEC (XBRL)· 30 Mar 2026verified |
| Property, plant & equipment, net | 155.0 k | 1.3 m | 2.9 m | 2.3 m | 1.9 m | 1.6 m | SEC (XBRL)· 30 Mar 2026verified |
| Goodwill | 799.0 k | 20.5 m | 25.6 m | 25.6 m | 21.5 m | 17.7 m | SEC (XBRL)· 30 Mar 2026verified |
| Intangibles (excl. goodwill) | 922.0 k | 24.2 m | 27.3 m | 23.9 m | 20.2 m | 18.6 m | SEC (XBRL)· 30 Mar 2026verified |
| Total assets | 35.2 m | 104.9 m | 80.2 m | 79.3 m | 75.4 m | 78.0 m | SEC (XBRL)· 30 Mar 2026verified |
| Accounts payable | 2.6 m | 5.3 m | 3.3 m | 3.4 m | 4.3 m | 5.6 m | SEC (XBRL)· 30 Mar 2026verified |
| Short-term debt | 256.0 k | 831.0 k | 564.0 k | 416.0 k | 197.0 k | 5.5 m | SEC (XBRL)· 30 Mar 2026verified |
| Long-term debt | 283.0 k | 146.0 k | 129.0 k | 3.5 m | 5.1 m | 80.0 k | SEC (XBRL)· 16 Jul 2026verified |
| Current liabilities | 5.0 m | 21.1 m | 12.5 m | 16.4 m | 19.4 m | 33.9 m | SEC (XBRL)· 30 Mar 2026verified |
| Total liabilities | 5.6 m | 24.8 m | 18.2 m | 24.0 m | 30.7 m | 40.6 m | SEC (XBRL)· 30 Mar 2026verified |
| Equity | 29.7 m † | 80.2 m † | 62.0 m † | 55.2 m † | 44.7 m † | 37.4 m † | SEC (XBRL)· 30 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -1.2 m | -11.7 m | -6.6 m | -10.6 m | -4.7 m | -20.5 m | SEC (XBRL)· 30 Mar 2026verified |
| Capex | 66.0 k | 877.0 k | 945.0 k | 22.0 k | 51.0 k | 121.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Free cash flow | -1.3 m ≈ | -12.6 m ≈ | -7.5 m ≈ | -10.6 m ≈ | -4.7 m ≈ | -20.7 m ≈ | SEC (XBRL)· 30 Mar 2026derived |
| Investing cash flow | -910.0 k | -14.6 m | -7.1 m | -1.9 m | 3.3 m | 4.0 m | SEC (XBRL)· 30 Mar 2026verified |
| Financing cash flow | 31.1 m | 34.6 m | -15.9 m | 11.6 m | 1.2 m | 15.0 m | SEC (XBRL)· 30 Mar 2026verified |
| Share repurchases | 30.0 k | — | 6.0 m | 0 | — | — | SEC (XBRL)· 19 Mar 2024verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Market and valuation
9 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 43.5% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 6.1 m USD
Key indicators
Coverage and freshness
Score by group
43% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.80 – 1.58 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Net asset value (NAV)unavailable · input data missing
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
- Peers: P/B0.80 – 1.58 (Mid 1.40)10 companies used · median multiple 2.0x · quartiles 1.1x – 2.3xAGNT, COMP, DOUG, JLL, LHAI, MMI, OPAD, OPEN, PETZ, VAC
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 43.5% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | -79.0% | 23 (vs peers) | 15% |
| EBITDA margin · Quality | -3.4% | 0 (on a fixed band) | 20% |
| Revenue CAGR 3Y · Growth | 0.6% | 6 (on a fixed band) | 20% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| P/B · Valuation | 0.3x | 100 (vs peers) | 45% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| Dividend yield · Returns | unavailable | unavailable | — |
| Payout ratio (EPS) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/2 factors with a value
- Growth6/100 · 1/1 factors with a value
- Quality10/100 · 2/2 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial100/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
FATHOM HOLDINGS INC. (FTHM). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 420.5 m USD in 2025; YoY growth 25.4%; net margin -6.3%; ROE -79.0%.
The estimated value range is 0.80–1.58 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 1.40 USD, the price of 0.18 USD leaves a potential of 683.8% (value / price − 1) and a margin of safety of 87.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 43.5% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- P/B: 0.3x
- The price is below the estimated value range
What contradicts it
- ROE: -79.0%
- EBITDA margin: -3.4%
- Revenue CAGR 3Y: 0.6%
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, Interest coverage, P/E (TTM), Dividend yield, Payout ratio (EPS).
Versus the vertical median
Real Estate Agents & Managers (For Others) (SIC 6531) · same industry (4-digit SIC) · compared with 14 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| JLLJones Lang LaSalle Incorporated | 17.8 bn | 16.9 | 14.7% | 3.9% | +11.4% | +20% / +151% |
| COMPCompass, Inc. | 7.6 bn | 180.8 | 3.6% | 0.6% | +23.7% | −4% / +352% |
| VACMarriott Vacations Worldwide Corp | 3.9 bn | — | -10.9% | -4.7% | +1.3% | +110% / +57% |
| OPENOpendoor Technologies Inc. | 1.9 bn | — | -196.9% | -46.7% | −15.2% | −74% / −34% |
| MMIMarcus & Millichap, Inc. | 1.1 bn | 79.3 | 2.4% | 1.8% | +8.5% | +1% / −14% |
| AGNTAgnt, Inc. | 713.6 m | — | -6.9% | -0.3% | +4.5% | −62% / −65% |
| OMHOhmyhome Limited | 346.1 m | — | -164.6% | -75.2% | +19.5% | −63% / −83% |
| DOUGDouglas Elliman Inc. | 151.8 m | 5.6 | 16.3% | 2.5% | +3.8% | −37% / −14% |
| LHAILinkhome Holdings Inc. | 15.8 m | — | -5.6% | -1.4% | +175.7% | −92% / unavailable |
| PETZTDH Holdings, Inc. | 12.8 m | 7.3 | 6.2% | 143.8% | +122.0% | +25% / −10% |
| OPADOfferpad Solutions Inc. | 11.8 m | — | -116.9% | -11.3% | −38.2% | +19% / −78% |
| FTHMFathom Holdings Inc. | 6.1 m | — | -79.0% | -6.3% | +25.4% | −86% / −94% |
| LRHCStratum Holdings Corp. | 1.4 m | — | — | -46.4% | +16.7% | −100% / unavailable |
| NMRKNewmark Group, Inc. | — | 17.5 | 10.9% | 4.1% | +20.3% | −29% / +50% |
| BEKEKE Holdings Inc. | — | 154.8 | 4.4% | 3.2% | +5.6% | +8% / +17% |
1- and 3-year price returns: for FTHM from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Fathom Holdings is a US technology-driven real estate platform combining residential brokerage with mortgage lending, title services and SaaS software, built on a 100% commission model. The company grew revenue in 2025 but remained loss-making, and in 2026 agreed a merger with Bed Bath & Beyond, which makes its profile especially worth watching. Total revenue reached 420.5 million USD 3.
SWOT
Strengths
- The low fixed-cost model and 100% commission structure let agents keep a larger share of income, which supports agent recruitment 1.
- The proprietary intelliAgent platform and integrated mortgage and title brands form a connected service ecosystem 1.
- Total revenue grew in 2025 and the adjusted EBITDA loss narrowed from the prior year, pointing to operational improvement 3.
Weaknesses
- The company has reported repeated net losses and cannot guarantee reaching durable profitability 1.
- The agent base shrank significantly in 2026, and revenue depends directly on the number and productivity of agents 12.
- The company has relied on share issuances and shareholder loans for funding, which can dilute existing investors 13.
Opportunities
- Licensing the intelliAgent platform to independent brokers could generate recurring software revenue 1.
- A recovery in transaction volume could lift revenue without a proportionally higher cost base 13.
- The revenue share program and expansion into new states could add agents if the model is well received 1.
Threats
- High mortgage rates and economic uncertainty could prolong the decline in transactions 12.
- Antitrust litigation and changes to commission rules could affect the whole industry and the business model 12.
- Competition from large brokers with superior financial resources may limit the company's ability to attract agents 1.
Risks
- Repeated net losseshigh
The company has reported net losses in recent years and cannot guarantee when or whether it will reach durable profitability 1.
- Dependence on agent counthigh
Revenue depends on the agent base, and its reduction by June 30, 2026 could weigh on results if not offset 12.
- Merger with BBBYhigh
The merger with Bed Bath & Beyond, signed in June 2026, may be affected by conditions and approvals not yet completed, with uncertain effects on shareholders 2.
- Industry antitrust litigationmedium
Cases against NAR and other brokers could create turmoil in the industry and change commission rules, with a possible negative effect on the company 12.
- Financing and dilutionmedium
The need for additional capital may lead to share issuances or debt with restrictive covenants, diluting shareholders 1.
Investment thesis
What would need to be true (bull case)
- If transaction volumes recover, the low fixed-cost model could turn higher volume into a quick improvement in profitability.
- The intelliAgent platform and the mortgage and title services could generate more diversified revenue with better margins.
- The merger agreement with Bed Bath & Beyond could bring additional resources and a steadier financial structure if completed.
What would break the thesis
- The company has not reached profitability and continues to report losses, which could require new financing with dilution.
- A sharp fall in the agent count could cut revenue even if the housing market improves.
- Uncertainty around the merger and industry litigation may make results harder for investors to forecast.
What to watch
- Completion or failure of the Bed Bath & Beyond merger2026
- Development of agent count and productivity after the base was rationalisedQ3 2026
- Adjusted EBITDA results and any 2026 guidancenext 10-K
- Repayment of the BBBY loan and liquidity position2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Fathom Realty, the core brand, operates as a broker with low fixed costs: agents pay a flat fee per transaction rather than a percentage of commission, and the company runs without numerous physical offices. Its proprietary intelliAgent technology handles back-office functions, transactions and agent marketing tools 1. Commissions collected from agents remain the main revenue source, supplemented by Encompass Lending mortgages and Verus Title services 1.
In 2025 the company extended its commission plans with Fathom Max and Fathom Share options and launched a revenue share program, under which agents earn a percentage of the commission retained from agents they recruit 1. It acquired My Home Group and START Real Estate but divested LiveBy in November 2025 1. In June 2026 it signed a merger agreement with Bed Bath & Beyond 2.
As of December 31, 2025 the company had about 14,135 agent licenses, slightly down from the prior year, and by June 30, 2026 the reported agent count had fallen sharply, partly due to removing inactive agents 12. The cost structure and the absence of royalty or franchise fees are presented as the central competitive advantage 1.
Segments
Real Estate Brokerage
The main segment, which generated 399.0 million USD of 2025 revenue, covers residential and commercial brokerage through its agent network 3.
Mortgage
The Encompass Lending segment generated 12.8 million USD in 2025, up from the prior year, and provides loan origination and underwriting for transaction clients 3.
Market context
The US residential market, estimated at over 3.5 trillion USD, stayed at historically subdued levels in 2025, with about 4.06 million existing home sales 1. The average 30-year fixed conventional mortgage rate fell to 6.21% in December 2025 from 6.61% a year earlier 1. The National Association of Realtors anticipates transactions to rise in 2026 if inflation keeps easing 1.
The company operates in 43 states plus the District of Columbia, concentrated in the South, Atlantic, Southwest and West 1. The market remains sensitive to interest rates and economic uncertainty, which directly affect transaction volumes and therefore the company's revenue 12.
Trends
- Online home searchtailwind
Most homebuyers search for homes on the internet, which favours brokers with technology platforms and low fixed costs such as the Fathom model 1.
- High mortgage ratesheadwind
High interest rates and economic uncertainty have reduced housing demand and transaction volume, which could prolong the weakness in revenue 12.
- Commission litigationmixed
Antitrust cases against NAR and other brokers may change commission rules; the flat-fee model could benefit, but the litigation may also cause turmoil in the industry 12.
- Industry consolidationmixed
Acquisitions and broker consolidation can create integration opportunities for technology platforms, but also raise competitive pressure from large regional networks 1.
Competitive position
Fathom competes with other national and regional brokers for agents and for the client relationships they bring, and competitors with greater financial resources or strong local ties can gain market share 1. The company differentiates through its 100% commission model and proprietary technology, but this edge could erode if other players copy its practices 1.
Brokers offering negotiable commissions or discount models add further pressure, and Fathom aims to respond with flexible plans and revenue share programs 1.
- CompassCOMP
Broker named in the source among defendants in the antitrust cases, a direct competitor for agents and clients 1.
- eXp World HoldingsEXPI
Cloud-based broker named in the commission litigation, a competitor on the low-cost agent model 1.
- RedfinRDFN
Digital broker with an agent network, named in the source among companies involved in the commission litigation 1.
- Douglas EllimanDOUG
Residential and commercial real estate broker, named among defendants in the antitrust cases 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Ford targets 100,000 first-year sales for Fathom electric truckYahoo Finance — News · 03 Sept 2026 · EN
- After Buying Circle Through a 42% Drop, Cathie Wood Says Analysts Cannot Fathom ItYahoo Finance — News · 23 Aug 2026 · EN
- Ford’s $28,000 Fathom EV nears production after $2 billion factory overhaulThe Verge · 13 Aug 2026 · EN
- Atac la Tesla și China: Ford lansează Fathom, un pickup electric de sub 30.000 de dolariHotNews.ro · 07 Aug 2026 · RO
- Ford’s first ultra-cheap EV is called Fathom, a full-featured truck for $28,350The Verge · 06 Aug 2026 · EN
The latest news item in our archive is from 03 Sept 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report03 Nov 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report05 Oct 2026Material agreement · Termination of a material agreement · Creation of a direct financial obligation · Other events · Financial statements and exhibits
- Current report25 Sept 2026Other events · Financial statements and exhibits
- Current report25 Aug 2026Delisting notice
- Quarterly report13 Aug 2026
- Current report20 Jul 2026Other events
- Quarterly report16 Jul 2026
- Current report09 Jul 2026Other events
- Current report06 Jul 2026Material agreement · Financial statements and exhibits
- Current report29 Jun 2026Departure or appointment of officers · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Fathom Holdings, Inc. · 30 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Fathom Holdings, Inc. · 13 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Fathom Holdings, Inc. · 30 Mar 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.