Fathom Holdings Inc. (NASDAQ:FTHM) Q1 2024 Earnings Conference Call May 9, 2024 6:30 PM ET
Company Participants
Alex Kovtun – Gateway Group
Marco Fregenal – Chief Executive Officer
Joanne Zach – Senior Vice President-Finance
Conference Call Participants
John Campbell – Stephens
Raj Sharma – B. Riley
Darren Aftahi – ROTH Capital Partners
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. Thank you, operator. And welcome everyone to Fathom Holdings First Quarter 2024 Conference Call. I’m Alex Kovtun with Gateway Group, Fathom’s Investor Relations firm. Before I turn things over to the Fathom management team, I would like 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 set forth in the Risk Factors section of the company’s Form 10-K for the year ended December 31, 2023, and other company filings made with the SEC. Copies of which are available on the SEC’s website at www.sec.gov.
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 also note that during this call, we will be discussing adjusted EBITDA, which is 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.
With that, I’ll turn the call over to Fathom’s President and CEO, Marco Fregenal. Marco?
Marco Fregenal
Thank you, Alex. Good afternoon and warm welcome to everyone joining us for our first quarter of 2024 earnings call. I want to extend my heartfelt gratitude to each one of you for incredible hard work and dedication, especially in the face of such trying circumstances. Despite the challenging market conditions, our teams have remained steadfast in carrying out the essential work needed to propel us towards our goals for 2024.
During our previous earnings call, I outlined four key goals for 2024. These included enhancing our balance sheet, achieving positive EBITDA and operational cash flow, reinstating agent growth to an annual rate of 20%, 25%, while prioritizing high-quality agents and launching additional initiatives to further support our agents in growing their businesses. I am pleased to update you on our progress and announced that the successful completion of our first goal, enhancing our balance sheet.