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doma Doma's Q3 Results Continue to Outpace Mortgage Industry ; Tech - Led Growth Expected to Fuel Future Out - Performance Despite Softening Market November 10 , 2021 Affirms Guidance At or Above the High End of Annual Ranges Third Quarter 2021 Business Highlights ( 1 ) : • Total revenues of $ 163 million , up 34 % versus Q3 2020 • Closed orders of 35,300 , up 39 % versus Q3 2020 • Retained premiums and fees of $ 71 million , up 31 % versus Q3 2020 • Gross profit of $ 28 million , up 7 % versus Q3 2020 • Adjusted gross profit of $ 30 million , up 10 % versus Q3 2020 • Enterprise segment closed orders grew 386 % versus Q3 2020 ● Open orders of 52,867 , up 41 % versus Q3 2020 2021 Full Year Outlook ( 1 ) : • For the full year , Doma now expects to come in at or above the high end of its previous ranges for both revenue of between $ 475 million and $ 525 million and retained premiums and fees of between $ 250 million and $ 260 million • Similarly , Doma expects finishing the year at or above the high end of its previous ranges for both gross profit between $ 83 million and $ 93 million and adjusted gross profit between $ 95 million and $ 105 million SAN FRANCISCO -- ( BUSINESS WIRE ) -- Nov . 10 , 2021-- Doma Holdings , Inc. ( NYSE : DOMA ) ( " Doma " or the " Company " ) , a leading force for disruptive change in the real estate industry , today reported quarterly financial results and key operating data for the three and nine months ended September 30 , 2021 ( 2 ) . Doma's results demonstrate strong growth that continues to outperform the mortgage industry as a whole , driven by the expansion and continued adoption of its proprietary machine learning technology . Because of its continued momentum in the third quarter of 2021 and an accelerating rate of growth in open order volume , Doma is now affirming that it expects full year 2021 results to be at or above the high end of its previously stated guidance ranges . " Doma's impressive growth relative to the industry is driven by our unique technology , and we continue to gain momentum , " said Max Simkoff , Founder and CEO of Doma . " Given our proven ability to grow market share , we will be heavily focused on investing in the extension of our game - changing technology to serve more of the market - specifically across home purchase transactions . As soon as possible , we want prospective homeowners to experience the same value proposition that we've been delivering to our Enterprise channel : an instant , digital home closing that is vastly more simple and more affordable , " Mr. Simkoff concluded . Third Quarter 2021 Growth Drivers • Continued improvements to the Doma Intelligence platform helped deliver better customer outcomes through the application of cutting - edge machine learning technology . o Added important new functionality to Doma Docs - which is a feature that uses machine intelligence to replace the manual and error - prone process of traditional fee collaboration that deepens its algorithms to tackle even more complex Closing Disclosure scenarios and drive better outcomes for Doma's largest clients . o Enhanced the Doma Connect integration layer to introduce important new integration functionality across several key middleware platforms used by Doma's mortgage originator customers , making those connections more seamless and fostering further expansion of wallet share . • Increased orders at the Enterprise level , despite a softening mortgage market , reflect confidence in Doma's technology by the nation's largest mortgage lenders . Total order growth in the third quarter came from both new customers starting to transact as well as increases in wallet share among existing Doma Enterprise customers , who are among the nation's leading lenders . - • Home purchase transaction volume increased by a healthy 9 % over the same period last year , outpacing overall market trends in Doma's Local channel . • Top talent from leading global tech companies like Amazon , Apple , Facebook , Netflix , LogMeIn , and Splunk joined the Doma team in the third quarter , in key roles across customer acquisition , account management , fulfillment , software engineering , data science , and product management , helping the Company deliver on its fast pace of innovation .