Latest news with #Fathom
Yahoo
4 days ago
- Business
- Yahoo
‘Friendship' Rocks As Tim Robinson, Paul Rudd Bromance Expands
Audiences are really latching onto A24's Friendship, buoying it to no. 7 at the domestic box office on just 60 screens with a $1.4 million weekend ($23k per screen average) and a $2+ million cume. The film by Andrew DeYoung debuted on six screens last week with a top limited opening and can now boast a hugely successful expansion. The R-rated comedy stars comedian Tim Robinson as suburban dad Craig whose life is turned upside down by the arrival of a new neighbor (Paul Rudd). More from Deadline 'Friendship' Moves To Top Ten Markets, Star Tim Robinson's Hometown Detroit; 'Sister Midnight', 'The Old Woman With The Knife' - Specialty Preview 'Friendship' Skyrockets To Top Limited Opening Of 2025 For Tim Robinson, Paul Rudd Comedy - Specialty Box Office 'Friendship' Comedy Bromance With Tim Robinson, Paul Rudd Selling Tickets And Hats - Specialty Preview Certified Fresh RT (89% with critics, 83% audience score) and backed by excellent exit polls, the bromance is generating tremendous word-of-mouth. Expands to a limited nationwide release over Memorial Day weekend as it settles into a long theatrical run throughout the summer. Indie grosses can trickle in through early in the week, will update with any new numbers. Kani Releasing releases Yoko Yamanaka's Desert of Namibia exclusively at Metrograph in New York to sold-out screenings, with an estimated opening weekend box office of $4.5k. Expands to LA next week with an exclusive engagement at Laemmle Theatres, with director Q&As hosted by fellow filmmakers India Donaldson (Good One) and Winnie Cheung (Residency). She will screen her debut film Aniko at American Cinematheque May 22, hosted by Carson Lund (Eephus). Logline: mercurial 21-year-old Kana (Yuumi Kawai), a hair-removal technician at a salon in Tokyo, who bristles against the beauty expectations placed on women her age. Her erratic moods and default to self-destruct impacts all of her relationships as moments of levity erupt into violence and optimism simmers to despair. And s Saturday transmission of Strauss's Salome from Fathom grossed $622.5k in North America at about 800 cinema screens. Conducted by the Met's Jeanette Lerman-Neubauer Music Director, Yannick Nézet-Séguin, and starring soprano Elza van den Heever and baritone Peter Mattei, the title had the seventh highest per-screen average (with only one screening) of all filmed content screenings across North America and was ranked sixth in North America Saturday. Encore screenings in U.S on May 21. An estimated 31,500 people saw Salome live (with an additional $700k across more than 800 screens internationally). Fathom's presentation of Kiki's Delivery Service as part of its Studio Ghibli Fest grossed $1+ million on 1,062 screens giving the rerelease a no. 9 spot. Sideshow/Janus Films' release of Jia Zhangke's Caught By The Tides grossed an estimated $45.3k on 16 screens for a week 2 cume of $ Best of Deadline Sean 'Diddy' Combs Sex-Trafficking Trial Updates: Cassie Ventura's Testimony, $10M Hotel Settlement, Drugs, Violence, & The Feds 'Nine Perfect Strangers' Season 2 Release Schedule: When Do New Episodes Come Out? Everything We Know About Ari Aster's 'Eddington' So Far
Yahoo
14-05-2025
- Business
- Yahoo
Q1 2025 Fathom Holdings Inc Earnings Call
Marco Fregenal; President, Chief Executive Officer, Chief Financial Officer, Director; Fathom Holdings Inc Daniel Weinmann; Vice President of Finance; Fathom Holdings Inc Darren Aftahi; Managing Director, Senior Research Analyst; Roth Capital Partners LLC Operator Good day, everyone, and welcome to the Fathom Holdings' Inc. first-quarter 2025 conference call. (Operator Instructions) It is now my pleasure to turn the floor over to your host, [Paul Kuntz]. Sir, the floor is yours. Thank you, and good afternoon. Welcome to Fathom Holdings' first-quarter 2025 conference call. Joining us today is the company's CEO, Marco Fregenal; and VP of Finance, Daniel Weinmann. Before I turn the call over to management, I want to remind listeners that today's call may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to numerous conditions, many of which are beyond the company's control, including those outlined in the Risk Factors section of the company's Form 10-K and other company filings made with the SEC, copies of which are available on the SEC's website at As a result of those forward-looking statements, actual results could differ materially. Fathom undertakes no obligation to update any forward-looking statements after today's call, except as required by law. Please note that during the call, we will discuss adjusted EBITDA, a non-GAAP financial measure as defined by SEC Regulation G. A reconciliation of this non-GAAP financial measure to the most directly comparable GAAP measure is included in today's press release, which is now posted on Fathom's website. And with that, I will now turn the call over to Fathom's CEO, Marco Fregenal. Please proceed. Marco Fregenal Thank you, Paul. Good afternoon, everyone, and thank you for joining us on today's call. I am pleased to welcome you to Fathom Holdings First Quarter 2025 Earnings Conference. Before diving into the numbers, I'm going to begin by recognizing the continued dedication and perseverance of our entire Fathom team, our agents, employees and leadership. The first quarter brought ongoing economic headwinds from elevated mortgage rates to shifting global economic uncertainty, all impacting by our behavior. But through it all, our team remained focused in our strategy remains clear. The results we are sharing today are a direct reflection of the discipline and execution. We enter 2025 with measure optimism, and I am proud to say we exceeded public expectations. Revenue growth was strong. Transaction volume increased, agent count continued to rise and will be analyst estimates by a meaningful margin. We also continue our cost-cutting initiatives, reducing expenses by approximately that $750,000 per quarter going forward. These efforts are helping us build what we believe will be a more efficient and scalable business. We now expect to achieve adjusted EBITDA profitability in the second quarter, a significant milestone and a testament to the progress we made over the past year. Now let's take a look at our earnings for Q1. Total revenue rose $32.1 million -- 32.1% to $93.1 million compared to $70.5 million in the same period last year. The performance exceeded analysts' expectations by roughly 12%, demonstrating our ability to grow despite broader economic and industry uncertainty. Brokerage revenue climbed nearly 36% to $88.9 million, up from $65.4 million last year. We entered the quarter with approximately 14,750 licensed agents a 22.8% increase over Q1 of 2024. Transactions increased by 26%, which approximately 9,715 [closing] this quarter. Gross profit improved to $8.1 million, up 13% year-over-year. Excluding Dagley Insurance, which we divested in 2024, our gross profit growth was 34% from $6 million in Q1 of 2024, highlighting the strength of our core brokers engine. Now let me shift to Elevate our most significant strategic initiative to date. Elevate powered by our (inaudible) intelliAgent platform is a high-margin growth program designed to enhance agent productivity, scale our platform and drive long-term profitability. It is a concierge-level (inaudible) offering that provides a comprehensive services, including robust marketing and lead generation, lead conversion, transaction coordination, expert coaching, recruiting support and much more. All of this is delivered by a dedicated team, so our agents can focus entirely on serving their clients. Agents who enroll contribute a 20% commission split along with the standard transaction fee. That's incredibly competitive when you consider that many agents already pay similar or higher split at traditional brokerages just to hang their license with limited support behind it. Our goal with Elevate is to bridge the gap that so many agents experience. While most want to reinvest in their own growth, many simply don't have the time, tools or the know-how to do so. Elevate is designed to remove that friction by giving them the infrastructure, marketing resources and business coaching, they need to scale their businesses efficiently and affordably. Since our soft launch just 4 weeks ago, we have seen over 120 agents sign up for the program. While we require that an agent must have completed at least 4 transactions in the past 12 months to qualify for the program, the agents who have signed up so far have an average annual production of between 9 to 10 closings per year. Participating agents are projected to generate a significant increase in gross profit per transaction and EBITDA per transaction. By the fourth quarter, we aim to be onboarding around 100 new agents per month into the program. We're also developing targeted extensions of their programs such as Elevate for teams and Elevate for partners to meet growing demand. Additionally, we are in early-stage conversations with external organizations interested in licensing Elevate, further underscoring the industry-wide potential of this program. What makes all of this possible is intelliAgent as the engine behind Elevate, it streamlines operations, minimizes overhead and enable us to deliver high touch, high-impact services at a price point that most traditional brokers simply cannot match. Combined with our overall low-cost business model, we believe that gives a significant competitive edge and create a sustainable and scalable path for growth, both for Fathom and for our agents. Although the program is in infancy, we believe the Elevate may also have some positive impact in our ancillary businesses as we build a much closer relationship with agents participating in the program. Now let's turn briefly to review market conditions. While mortgage rates remain elevated, they have begun to show signs of stabilizing as the housing market shift from a seller's market toward a more balanced or buyers market. One clear indicator of this shift is the increase in housing inventory across key markets. For example, in March, inventories rose by 16% in California, 20% in Utah, 28% in Colorado and 18% in Georgia. As inventories levels climb, we're seeing a rise in the number of listings with price reductions and extended days of the market. This has led to home prices flattening or experiencing modest year-over-year declines. For instance, average home prices have dropped year-over-year by 2.4% in Florida, 4% in Colorado, 8% in Kansas and 5% in Illinois. While there are still many uncertainties, we believe Fathom is well positioned to benefit from even a modest improvement in market activity, driven by our lean cost structure and compelling value proposition to our agents. Now let's review our ancillary businesses. Mortgage revenue increased 13% to $2.6 million for the first quarter of 2025, up from $2.3 million in the first quarter of 2024. We have seen an expected increase in [file] stars for the month of April, which typically indicates the early stage of the seasonal increase in the market. Title revenue increased 43% to $1 million for the first quarter of 2025, up from $700,000 for the first quarter of 2024. File Stars for the month of April, thus far have increased by over 45% year-over-year. Together, we believe these businesses are enhancing our margins, increase agent retention and contributing to a more diverse and durable revenue stream. With that, let me turn the call to Daniel Weinmann, our VP of Finance, to review our results in greater detail. Daniel? Daniel Weinmann Thank you, Marco. I will discuss our consolidated financial results before reviewing our business segment results in more detail. First quarter total revenue was $93.1 million, a 32.1% increase year-over-year compared to $70.5 million for last year's first quarter. The increase in revenue was primarily due to a 36% increase in brokerage revenue as well as an increase in revenue from our ancillary businesses. Excluding the impact of the company's divested insurance business, total gross profit increased by 34% in the first quarter of 2025 compared to the same period in 2024. Gross profit margin remained consistent at 8.7% year-over-year on the same basis. Technology and development expenses were approximately $1.9 million for the first quarter of 2025 compared with $1.6 million for the first quarter of 2024. The approximate $300,000 increase was primarily due to our continued investment in our technology platforms, including the build-out of our new direct-to-agent program at LiveBy and our Elevate program. General and administrative expenses totaled $8.6 million for the first quarter of 2025 compared with $9 million for the first quarter of 2024. The decrease was primarily due to our cost-cutting initiatives. Marketing expenses totaled $1.4 million for the first quarter of 2025 compared with $1.2 million for the first quarter of 2024. The increase was primarily due to investments in our ancillary businesses. GAAP net loss for the first quarter of 2025 totaled $5.6 million or $0.24 per share compared with a loss of $5.9 million or $0.31 per share for the first quarter of 2024. The decrease in net loss was primarily due to our cost saving efforts. Adjusted EBITDA loss, a non-GAAP measure for Q1 2025 remained unchanged at $1.5 million compared to Q1 2024. Now I will spend some time reviewing our business segment results in more detail. We start with our brokerage business. We've closed approximately 9,715 real estate transactions during the first quarter, an increase of 26.1% compared to 7,703 transactions during the first quarter of 2024. The increase in real estate transactions is primarily attributed to the addition of My Home Group. We ended the first quarter with approximately 14,715 agent licenses, an increase of 22.8% compared to 11,986 agents at the end of the first quarter of 2024. Revenue for the Real Estate division was approximately $88.9 million in the first quarter compared to $65.4 million for the same period last year, which represents an increase of 36% and primarily attributed to the addition of My Home Group. Gross profit margin for our Real Estate division improved to 7.1% from 6.5% in the first quarter of 2025 compared to the first quarter of 2024. This increase in margin was largely due to an increase in transactions from non-cap agents and the impact of our agents annual fee increase. Adjusted EBITDA gain in the Real Estate division was approximately $1.6 million in Q1 of 2025, an increase of $800,000 compared to adjusted EBITDA of $800,000 in Q1 of 2024. The improvement was primarily driven by increased revenue and the continued execution of cost-cutting initiatives. Moving on to our Mortgage business. Our mortgage business generated revenues of $2.6 million in Q1 2025 compared to $2.3 million in Q1 of 2024. Mortgage adjusted EBITDA for Q1 2025 was a loss of $400,000 compared to an adjusted EBITDA loss of $500,000 for the same period last year. Adjusted EBITDA loss improved by $100,000 due to continued strategic cost-cutting measures. Moving to our title business. Verus Title had revenues of $1 million for the first quarter of 2025 compared to $700,000 for the first quarter of 2024, an increase of 43%. The increase in revenue was driven by organic growth and walkovers. Verus Title's adjusted EBITDA for the 2024 first quarter was a loss of $400,000 compared to an adjusted EBITDA loss of $200,000 for Q1 2024. Moving to our Technology segment. Third-party revenues decreased to $600,000 in Q1 2025 compared to $800,000 in Q1 2024. Adjusted EBITDA income for the first quarter of 2025 was $50,000 compared to an adjusted EBITDA loss of $30,000 for the first quarter of 2024. Adjusted EBITDA income improved by $80,000 due to continued strategic cost-cutting measures. We continue to keenly focus on our balance sheet given the dynamic real estate market conditions. We ended the quarter with a cash position of $8 million, which includes the $2.7 million in net proceeds from the public offering in March. We did not purchase any shares in the first quarter under the stock repurchase plan. Marco, back to you for final remarks. Marco Fregenal Thank you, Daniel. Before I close, I want to reiterate that we remain focused on 3 core drivers of long-term profitability. First, expanding revenue through strategic growth second, enhancing gross margins through agent programs such as Elevate and ancillary services; and third, continued cost discipline across all areas of the business. In summary, Q1 was a strong start of the year with outperformed analyst expectations, grew across every key metric, launch a high potential new program in Elevate and continue executing against our plan to reach adjusted EBITDA profitability by Q2. While we remain cautious about broader market volatility and global economic uncertainties, we are encouraged by the momentum we are seeing and confident in our ability to adapt and thrive regardless of what rest of the year brings. Thank you again for your continued support and belief in Fathom. And operator, we're now ready to take any questions. Operator (Operator Instructions) Darren Aftahi, ROTH Capital Partners. Darren Aftahi Nice to see the growth there. Marco, I just -- two, if I may, I guess, can you just talk a little bit more in depth about how Elevate enhances the profitability on both gross profit and adjusted EBITDA per transaction with Elevate versus some of your traditional programs. And I know you kind of laid out the goal of 100 agents per month exiting the fourth quarter or into the fourth quarter. Just trying to understand kind of the cadence of the onboarding pipeline of agents that I know you've made a commentary that there could be a positive impact on ancillary business. I'm kind of curious to learn more about that. Marco Fregenal Darren, thank you for your questions. So the -- because we're charging 20% and because of the efficiencies of intelliAgent, we are going to see a higher gross profit margin per transaction. I think we can see gross profit margin grow by 3x to 4x compared to our traditional gross profit margin. And it's really because of the efficiency of our platform and what we can deliver. Second, we launched this internally about 4 weeks ago. and it really was a soft launch. And pretty quickly, there are about 120 agents that signed up. We are already onboarding them into the program. And starting, I think, next week, we'll start marketing externally even though we already had some external agents joining the program. And I think we'll continue to ramp up with the ultimate goal of the end of the year onboarding about 100 agents. We want to be careful about the growth. It is a complex program. And so we want to make sure that we are firing all cylinders. But we think that by the end of the year, we can be at about 100 new agents a month and then, of course, into next year, growing that even further. And so given that the financial results of the program thus far, we feel incredibly positive about the impact it's going to have in gross profit and adjusted EBITDA. Darren Aftahi That's helpful. And just one more, if I may. Outside of My Home Group, have you guys held discussions with similar size agent teams to join Fathom? And has any of that accelerated post the launch of Elevate? I know you talked about some teams and partners in the pipeline. Marco Fregenal Yes. Actually, once we launch Elevate, we absolutely have a lot more conversations with different brokerages, not only brokers but technology partners, brokerages, and we're having a great deal of number of conversations in terms of Elevate. So I do think going forward, we're going to see potentially perhaps into -- more into Q3, more walkovers -- and then I think within the next 6 months, you'll see some announcements in terms of potential partnerships of companies that want to not only partner with Elevate but license Elevate. And so that has been a significant interest from a lot of different companies on what Elevate is. And we're looking forward to continue to expand the program not only into other companies, but into other types of agents. For example, teams is 1 in which we are going to create Elevate for teams, for example. So I think there's a lot of opportunity around Elevate, and I think we are in the very early stages. And I think that they're going to have some significant results in the next 12 to 18 months. Operator (Operator Instructions) There are no further questions in the queue. Marco Fregenal Okay. Thank you, everyone, for joining us today. As always, I look forward to our next update. I hope everyone has a good evening. Thank you for joining us. Operator Thank you. Everyone, this concludes today's event. You may disconnect at this time, and have a wonderful day. Thank you for your participation. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
13-05-2025
- Business
- Washington Post
Fathom Holdings: Q1 Earnings Snapshot
CARY, N.C. — CARY, N.C. — Fathom Holdings Inc. (FTHM) on Tuesday reported a loss of $5.6 million in its first quarter. On a per-share basis, the Cary, North Carolina-based company said it had a loss of 24 cents. Losses, adjusted for stock option expense, came to 18 cents per share.
Yahoo
13-05-2025
- Science
- Yahoo
AI company Helsing unveils swarming underwater surveillance drones
MILAN — Germany-based Helsing has launched an underwater drone surveillance network powered by artificial intelligence for the detection of enemy submarines and ships out at sea for months at a time. The company's artificial-intelligence tool Lura is at the heart of the setup, processing data from SG-1 Fathom drones, Helsing said in a statement. By relying on a large-scale acoustic model, Lura is able to detect and categorize a variety of undersea threats based on the signature they emit, including submarines and different types of ships, at a high accuracy, according to the company. 'Lura's use of this model enables it to detect acoustic signatures 10 times quieter than other AI models, even differentiating between specific vessels from within the same class, at a speed up to 40 times faster than humans,' reads the Helsing statement. Many nations with advanced militaries collect intelligence about adversary ships, from the acoustic noise emitted by their propulsion systems to the characteristics of the wake form and water bubble generated by them. Analysts can then cross-check that data to identify threats at sea. According to Helsing, the Fathom drone is swarming-capable, which means hundreds can be deployed at a time patrolling an area's underwater environment for up to three months. The company demonstrated the setup last week Portsmouth Naval Base, England, as the company expects to deploy the capability within the year. Potential regions for deployment included the North and Baltic seas, where NATO is currently carrying out its Baltic Sentry mission focused on securing critical infrastructure at sea. The military alliance has also trialled an AI software tool, dubbed Mainsail, developed by the NATO Centre for Maritime Research and Experimentation in Italy, which flags suspicious vessels. It allows sifting through and analyzing enormous amounts of data such as maritime traffic to enable authorities to collect underwater intelligence or detect boats diverting off-course. 'Deploying AI to the edge of underwater constellations will illuminate the oceans and deter our adversaries for a strong Europe,' the co-founder and co-CEO of Helsing, Gundbert Scherf, said.
Yahoo
13-05-2025
- Business
- Yahoo
5 big crypto shifts no one's talking about in 2025
Global crypto market capitalization has now soared past $3.4 trillion, fueled by key shifts that extend far beyond market cycles or speculative hype. From Bitcoin's return as a foundational asset to the rise of tokenized real-world assets (RWAs), transparency-first infrastructure, and enterprise-grade blockchain adoption — crypto is going through its most significant maturation phase yet. The most dominant force in the crypto space today? Bitcoin is maturing into something far more institutional and long-term. 'The most important development in the crypto space is the re-centering of Bitcoin as the foundational asset class,' Simon Gerovich, President of Metaplanet Inc told TheStreet Roundtable. 'We're seeing a clear shift away from speculation toward long-term adoption, with Bitcoin increasingly recognized as a durable store of value. This is fueling the rise of Bitcoin Treasury Companies—publicly traded firms that accumulate Bitcoin on their balance sheets as a core strategic asset. These companies are redefining how businesses approach capital preservation and value creation in the digital age.' Metaplanet Inc. is a Tokyo-listed investment firm that officially adopted a Bitcoin-first strategy on April 8. Often called 'Asia's MicroStrategy,' the company began acquiring Bitcoin as its core treasury asset to hedge against inflation and currency risk. Since the launch of this strategy, Metaplanet has positioned itself as Japan's leading Bitcoin treasury firm. Bitcoin is up 67.3% in the last year, trading at $102,604 at the time of writing, according to Kraken's price feeds. The crypto space has always battled questions of trust. But now, with more regulation and mainstream adoption, the spotlight is firmly on transparency and accountability. 'The biggest shift in crypto today is moving from hype cycles to hard proof,' noted Blake Benthall, Founder and CEO of Fathom(x). 'It's not enough to promise privacy or decentralization—you have to prove what's real, what's secure, and who controls what, all on-chain. Builders like me are focused on making transparency and privacy work together, not at odds. That's the only way crypto survives and scales in a world that's demanding both trust and accountability.' Fathom(x) is a blockchain analysis and risk mitigation company dedicated to supporting both companies and individuals in managing cryptocurrency transactions and wallets. Enterprise adoption of blockchain has long been hyped — but 2025 is the year it actually starts happening. 'The most significant trend shaping the crypto space right now is the adoption of blockchain as a fundamental layer for enterprise infrastructure,' added Michael Weinrub, CEO of AppLayer. 'Companies are moving beyond traditional cloud solutions, recognizing blockchain's unmatched capabilities in security, scalability, and operational efficiency. At AppLayer, we see this shift accelerating rapidly—organizations aren't just exploring blockchain, they're actively replacing legacy infrastructure to achieve dramatic efficiency gains and transformative business outcomes.' AppLayer is a modular EVM layer for cross-chain applications. The blockchain stack comprises of a C++ based EVM network with stateful pre-compiles capable of achieving over 65x performance boost to leading EVM networks. The next frontier for crypto's evolution is legal—and it's one that can't be ignored. 'Capital is shifting into its finest version of digital,' says Jose Rodriguez, Partner at Nodeman. 'While traditional financial players are struggling to understand this shift, bold companies in the decentralized space are taking advantage. Legal services need to be accurate to these changes in order to enable digital capital through bold regulation.' President Donald Trump has taken a sharp pro-crypto turn in his first 100 days back in office, marking a big shift from the Biden years. His administration has rolled out a series of executive orders and appointed crypto-friendly leaders to top regulatory roles, including at the SEC, FDIC, and OCC. Key policies include a plan for a Bitcoin-only strategic reserve, the end of SEC lawsuits like Ripple's, and potential new bank charters for crypto firms. SEC Chair Paul Atkins and others are already working with industry leaders on clear guidance. Perhaps the most seismic transformation in crypto is the rise of tokenized real-world assets — especially when paired with the steady ascent of stablecoins. 'The rise of tokenized real-world assets (RWAs) and stablecoins is no longer just a trend. It's being validated by real-world adoption, growing institutional traction, and a projected $17 trillion market by 2033,' said Jeremy Ng, Founder and CEO of OpenEden. 'Within this surge, yield-bearing stablecoins like OpenEden Digital's USDO are emerging as a breakout category, redefining digital money by delivering real-world yield with regulatory oversight. But scale won't come from hype alone. Utility, regulatory guardrails, compliance, and transparency will be critical to unlocking the next wave of institutional and mainstream adoption.' OpenEden is a Singapore-based fintech company focused on bridging traditional finance and crypto through tokenized real-world assets. 'The digital asset space is evolving rapidly as regulatory clarity, technological progress, and client demand align across global markets,' adds Matt Blumenfeld, PwC Digital Asset Lead. 'Stablecoins are playing a pivotal role in enabling instant, low-cost value transfer. This momentum is embedding digital assets into the fabric of finance, not as an alternative, but as the next evolution.'
