Microvast Holdings announces departure of chief financial officer
Zach Joanne, the Chief Financial Officer of Fathom Holdings Inc. (NASDAQ:FTHM), recently sold 865 shares of the company's common stock. The shares were sold at prices ranging from $1.50 to $1.52, amounting to a total transaction value of $1,297. This sale was executed to cover taxes upon the vesting of restricted stock as of December 31, 2024. The transaction comes as FTHM shares have declined over 56% in the past year, with the company's market capitalization now at $33 million. According to InvestingPro analysis, the stock appears undervalued at current levels.
Following this transaction, Joanne retains ownership of 252,510 shares, with a portion of these shares being restricted and scheduled to vest over the coming years. This includes 100,000 shares vesting in thirds over three years, and other restricted shares vesting in full by March 2026. With the stock trading at $1.45, InvestingPro subscribers have access to 17 additional key insights and a comprehensive Pro Research Report, offering crucial analysis for investors monitoring insider transactions.
In other recent news, Fathom Holdings Inc. has seen a reshuffling of its leadership team to enhance revenue generation and operational management. Jon Gwin, the former Chief Operating Officer, has taken up the role of Chief Revenue Officer, while Samantha Giuggio, previously the Chief Operations Officer of Fathom Realty, has been promoted to President of Fathom Realty and Chief Operations Officer of Fathom Holdings.
In the financial aspect, Fathom Holdings reported a 10% decrease in its Q3 2024 revenue, amounting to $83.7 million, and an adjusted EBITDA loss of $1.4 million. Despite the dip in revenue, the company's mortgage division and Verus Title experienced significant revenue growth, with increases of 52% and 71% respectively.
Fathom Holdings has also been proactive in implementing growth strategies, such as the acquisition of My Home Group, which is expected to contribute approximately $100 million in annual revenue from 2025 onwards. The company aims to operate in all 50 states by the end of 2025 and maintains a strong focus on long-term growth, despite the current market uncertainties. These recent developments indicate Fathom Holdings' commitment to expansion and innovation.
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