Tag: Doma Holdings

On February 17, Doma Holdings Inc. (DOMA) declared its financial results for Q4 2021 along with guidance for 2022. Consequently, the stock fell further deep in the after-hours session.

In the regular trading session, the stock varied between $3.43 and $3.31 at a volume of 1.1 million shares. DOMA closed the session with a mild loss of 0.30% at $3.37 per share value. Following the announcement, the stock suffered a huge loss of 22.26% in the after-hours. Thus, DOMA stock declines by $0.75 to reach $2.62 in the after-hours on Thursday.

Currently, Doma Holdings Inc. has a market capitalization of $1.09 billion with 322.57 million shares outstanding. DOMA stock has declined by 33.66% year to date while it suffered a loss of 67.78% last year.

DOMA’s Q4 Results

In the fourth quarter of 2021, the company has revenues of $138 million, marking an increase of 17% YOY.

Moreover, the retained premiums and fees grew by 24% YOY to $66 million in the quarter.

Adjusted profit suffered a decline of 9% YOY to $24 million in Q4 2021.

DOMA had a net loss of $43.7 million in Q4 2021 against $8.5 million in the year-ago period.

Additionally, the closed orders grew by 35% YOY and open orders by 21% YOY.

Fiscal 2022 Guidance

For fiscal 2022, the company expects GAAP gross profit of $118 to $136 million.

Furthermore, the expected retained premiums and fees are $300 to $320 million and adjusted EBITDA $(90) to $(70) million.

In addition, DOMA expects that it will attain a positive adjusted EBITDA in 2023.

DOMA’s Customer AdvantageFirst Updates

On January 05, the company provided updates regarding its customer, AdvantageFirst. The company’s technology-driven title solutions of its Doma Intelligence platform are driving significant growth and business results for AdvantageFirst. DOMA’s solutions have exponentially accelerated AdvantageFirst’s processing times. AdvantageFirst now processes its refinance title orders under minutes against days. According to AdvantageFirst’s executive VP of operations, Jeff Ravenstine, the company is now closing loans up to 30 days faster.

In addition to the completion of transactions in very little time, DOMA’s technology is helping AdvantageFirst’s borrowers to save up to $600 per refinancing transaction.

Conclusion

On Thursday, the company reported mixed earnings with good growth in certain items and a decline in others. It seems the wider loss and gross profit decline really put the investors off. Therefore, the stock suffered a huge loss in the after-hours session.

Doma Holdings Inc. (DOMA) gained 8.32% at $5.34 in the after-hours on December 15. In the prior regular session, the stock was trading in the red, losing 2.76% at the closing price of $4.93. The stock saw 28% more volume than its 65-day average in the regular session.

DOMA stock seems to have rebounded in the after-hours, as it started trading in the green with a gain of $0.41. No recent news from the company is responsible for the drive in the stock.

The title, escrow, and settlement services provider in the real estate industry, Doma Holdings Inc. was founded in 2016. Currently, its 322.57 million outstanding shares trade at a market capitalization of $1.64 billion.

Recent Developments

On December 02, the company disclosed that its Chief Data Science Officer, Andy Mahdavi is named 2021 HousingWire Tech Trendsetter. The third annual list by HousingWire is comprised of the most impactful and innovative tech leaders in the housing industry.

Madhavi, who comes with a vast experience of more than two decades, along with his team work tirelessly for bringing innovations in the housing industry. They are doing so by utilizing machine intelligence for producing technology-first solutions that are uniquely differentiated.

Moreover, Doma has been returning the majority of title commitments in about one minute through its intelligence platform. In comparison, the industry standard for the transaction is 3-5 days, with even a week to 45 days’ cases.

DOMA’s Participations

Recently, the company was featured in two conferences. At the KBW Innovation in Finance Conference, Doma’s CEO Max Simkoff spoke on The Race to Digitize the Homeownership. The conference was held on Tuesday, December 07, 2021.

Further, the CEO also led a panel discussion at the JMP Securities Financial Services and Real Estate Conference. The conference took place on Thursday, November 18. Moreover, Simkoff helped lead the panel on Transforming the Home Buying/Ownership Experience.

DOMA’s Financials

On November 11, Doma announced its third-quarter financial results for 2021. In the Q3 of 2021, the company’s total revenue increased 34% year-over-year to $163 million. The total revenue in the year-ago quarter was $121 million.

Moreover, the adjusted gross profit showed an increase of 10% year-over-year to $30 million in the third quarter of 2021.

Furthermore, Doma closed orders of 35,300 in the third quarter of 2021. Whereas, this shows an increase of 39% against the third quarter of 2020.