"We are continuing to identify additional revenue-generating opportunities to accelerate," Harley said. "Since going public, we have substantially increased revenue, continued the expansion of our agent network, improved agent retention, entered new geographic markets and completed strategic acquisitions that further solidify our market position. Moreover, I'm extremely proud that our retention of higher producing agents, or agents closing more than 10 transactions per year, improved significantly from 10% of the overall attrition in 2019 to only 2.5% of the overall attrition in 2020," said Fathom CEO Joshua Harley. "Our fourth quarter and full-year results reflect the power of our unique model and Fathom's ability to attract real estate agents by providing them with greater income potential along with the technology and tools they require to grow their businesses even further, which, in turn, drives our growth. A table providing a reconciliation of Adjusted EBITDA to its most comparable GAAP measure, as well as an explanation of this non-GAAP measure, is included in the tables at the end of this press release. Fathom is providing Adjusted EBITDA, a non-GAAP financial measure, because it provides additional information for monitoring the Company's performance. Weighted average shares outstanding increased 36% for the 2020 fourth quarter, versus the same period last year.Īdjusted EBITDA loss, a non-GAAP measure, narrowed to $850,000 for the 2020 fourth quarter, from an Adjusted EBITDA loss of $1.2 million a year ago. GAAP net loss for the 2020 fourth quarter was $1.3 million, or a loss of $0.09 per share, compared with a GAAP net loss of $1.3 million, or a loss of $0.14 per share, for last year's fourth quarter. Fathom's real estate agent network grew 37% to 5,471 agents at December 31, 2020, up from 4,006 compared with the year prior. Fathom completed approximately 7,500 real estate transactions for the fourth quarter of 2020, an increase of 50% from the same period last year. At our sole discretion and no one else's, we decide when a review is against our guidelines.Revenue for the 2020 fourth quarter increased 61% to $53.4 million, from $33.2 million for the prior-year period. Mountainly reserves the right not to accept or remove a review at any time for any reason.
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