Altisource Portfolio Solutions (ASPS) came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.22. This compares to loss of $0.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.55%. A quarter ago, it was expected that this real estate services firm would post a loss of $0.26 per share when it actually produced a loss of $0.20, delivering a surprise of 23.08%.Over the last four qu ...

Company - Altisource Portfolio Solutions S.A. reported a strong second quarter for 2024, with service revenue of $36.9 million, an increase of $3.7 million or 11% compared to the same quarter in 2023 [4][5] - Adjusted EBITDA for the second quarter was $4.4 million, which is $7.9 million better than the same quarter in 2023, reflecting a significant improvement in operational efficiency [4][5] - The company ended the quarter with $29.7 million in cash and cash equivalents, alongside $15.0 million available under a revolving credit facility and $198.7 million in net debt [4][5] - Altisource anticipates achieving its 2024 guidance of 13% to 32% service revenue growth over 2023 and an Adjusted EBITDA between $17.5 million and $22.5 million [2][3] Industry - The industry experienced a 9% decrease in foreclosure initiations for the first half of 2024 compared to the same period in 2023, and a 14% decrease in foreclosure sales [4] - Mortgage origination volume in the industry decreased by 13% in the second quarter of 2024 compared to the same quarter in 2023 [4] - The seriously delinquent mortgage rate (90+ days past due and loans in foreclosure) declined to 1.1% in June 2024, down from 1.3% in December 2023 [4]

[Q2 2024 Earnings Release](index=1&type=section&id=ALTISOURCE%20ANNOUNCES%20SECOND%20QUARTER%202024%20FINANCIAL%20RESULTS) Altisource's Q2 2024 earnings highlight strong financial and operational improvements, reaffirming guidance [Financial and Operational Highlights](index=1&type=section&id=Second%20Quarter%202024%20Highlights) Altisource reported strong Q2 2024 results with significant year-over-year growth in service revenue and Adjusted EBITDA - The company reaffirms its 2024 guidance for service revenue growth of **13% to 32%** over 2023 and Adjusted EBITDA between **$17.5 million** and **$22.5 million**[3](index=3&type=chunk) Q2 2024 Key Financial Highlights (vs. Q2 2023) | Metric | Q2 2024 | Q2 2023 | Change | | :--- | :--- | :--- | :--- | | Service Revenue | $36.9 million | $33.2 million | +11% | | Adjusted EBITDA | $4.4 million | $(3.5) million | +$7.9 million | | Adjusted EBITDA Margin | 11.9% | (10.5)% | +22.4 p.p. | | Gross Profit Margin | 34.0% | 16.7% | +17.3 p.p. | - The company ended Q2 with **$29.7 million** in cash, **$15.0 million** available under a revolving credit facility, and **$198.7 million** of net debt[4](index=4&type=chunk) - Generated new sales wins estimated to represent **$16.8 million** in potential annualized revenue on a stabilized basis across its segments[5](index=5&type=chunk) [Financial Results Overview](index=2&type=section&id=Second%20Quarter%202024%20Financial%20Results) Q2 2024 financial performance significantly improved, driven by increased service revenue and positive Adjusted EBITDA Q2 2024 Financial Results Summary (in thousands) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | Service revenue | $36,863 | $33,173 | 11% | | Gross profit | $12,717 | $5,532 | 130% | | Income (loss) from operations | $2,083 | $(6,809) | 131% | | Adjusted EBITDA | $4,384 | $(3,491) | 226% | | Net loss attributable to Altisource | $(8,307) | $(18,850) | 56% | | Diluted loss per share | $(0.29) | $(0.90) | 68% | - The mortgage industry continues to face headwinds: Foreclosure initiations were down **9%** for the first six months of 2024 vs. 2023; Foreclosure sales were down **14%** for the first six months of 2024 vs. 2023; Mortgage origination volume decreased by **13%** in Q2 2024 vs. Q2 2023; The seriously delinquent mortgage rate declined to **1.1%** in June 2024 from **1.3%** in December 2023[8](index=8&type=chunk) [Forward-Looking Statements & Other Information](index=4&type=section&id=Forward-Looking%20Statements) This section outlines risks and uncertainties affecting future performance, including customer concentration and macroeconomic conditions - Forward-looking statements are subject to risks including, but not limited to, customer concentration, timing of default related referrals, technology disruptions, and macroeconomic conditions[10](index=10&type=chunk) - Altisource will host a webcast at **08:30 a.m. EDT** to discuss its second-quarter results[11](index=11&type=chunk) - Altisource is an integrated service provider and marketplace for the real estate and mortgage industries[12](index=12&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=CONSOLIDATED%20FINANCIAL%20STATEMENTS) This section presents Altisource's consolidated financial statements, detailing operations, balance sheets, and cash flows [Consolidated Statements of Operations and Comprehensive Loss](index=5&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS%20AND%20COMPREHENSIVE%20LOSS) Q2 2024 total revenue increased **11%** to **$39.1 million**, with reduced net loss and improved diluted loss per share Consolidated Statements of Operations (in thousands, except per share data) | Description | Three months ended June 30, 2024 | Three months ended June 30, 2023 | | :--- | :--- | :--- | | Service revenue | $36,863 | $33,173 | | Total revenue | $39,121 | $35,235 | | Gross profit | $12,717 | $5,532 | | Income (loss) from operations | $2,083 | $(6,809) | | Net loss attributable to Altisource | $(8,307) | $(18,850) | | Diluted loss per share | $(0.29) | $(0.90) | [Consolidated Balance Sheets](index=6&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) As of June 30, 2024, total assets were **$146.6 million**, with **$223.0 million** long-term debt reclassified to current Consolidated Balance Sheet Highlights (in thousands) | Description | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $29,702 | $32,522 | | Total current assets | $51,201 | $55,540 | | Total assets | $146,557 | $154,858 | | **Liabilities and Deficit** | | | | Current portion of long-term debt | $223,009 | $— | | Total current liabilities | $258,932 | $35,760 | | Long-term debt | $— | $215,615 | | Total liabilities and deficit | $146,557 | $154,858 | [Consolidated Statements of Cash Flows](index=7&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) Net cash used in operating activities improved to **$(2.1) million** for H1 2024, with a total cash decrease of **$2.8 million** Consolidated Statements of Cash Flows Highlights (in thousands) | Description | Six months ended June 30, 2024 | Six months ended June 30, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(2,057) | $(10,940) | | Net cash used in financing activities | $(773) | $(5,090) | | Net decrease in cash, cash equivalents and restricted cash | $(2,830) | $(16,030) | | Cash, cash equivalents and restricted cash at the end of the period | $32,586 | $38,243 | [Non-GAAP Financial Measures](index=8&type=section&id=NON-GAAP%20MEASURES) This section defines and reconciles Altisource's non-GAAP financial measures for clearer operational performance insights [Explanation of Non-GAAP Measures](index=8&type=section&id=Explanation%20of%20Non-GAAP%20Measures) The company uses non-GAAP measures like Adjusted EBITDA and Net Debt to provide a clearer view of continuous operational performance - Management uses non-GAAP measures to evaluate operating profitability and cash flow on a continuing basis by excluding items like prior-period acquisition amortization, non-cash share-based compensation, and significant non-operational items[22](index=22&type=chunk) - Key non-GAAP measures are defined as follows: **Adjusted operating income (loss)** excludes intangible amortization, share-based compensation, cost savings initiatives, debt amendment costs, and unrealized warrant loss from operating income; **Adjusted EBITDA** is calculated by removing taxes, interest, D&A, and other specified non-cash or non-recurring items from net loss; **Net debt** is calculated as long-term debt (including current portion) minus cash and cash equivalents[23](index=23&type=chunk)[24](index=24&type=chunk) [Reconciliation of GAAP to Non-GAAP Measures](index=10&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) This section reconciles GAAP to non-GAAP, showing Q2 2024 Adjusted EBITDA of **$4.4 million** and Net Debt of **$198.7 million** Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Description | Three months ended June 30, 2024 | Three months ended June 30, 2023 | | :--- | :--- | :--- | | Net loss attributable to Altisource | $(8,307) | $(18,850) | | Adjustments: | | | | Income tax provision | 706 | 639 | | Interest expense (net) | 9,582 | 9,589 | | Depreciation and amortization | 276 | 654 | | Intangible asset amortization expense | 1,270 | 1,280 | | Share-based compensation expense | 844 | 1,242 | | Other adjustments | 13 | 1,954 | | **Adjusted EBITDA** | **$4,384** | **$(3,491)** | Reconciliation of GAAP to Non-GAAP Loss Per Share | Description | Three months ended June 30, 2024 | Three months ended June 30, 2023 | | :--- | :--- | :--- | | Diluted loss per share (GAAP) | $(0.29) | $(0.90) | | Adjustments (per share) | $0.08 | $0.22 | | **Adjusted diluted loss per share (Non-GAAP)** | **$(0.21)** | **$(0.68)** | Net Debt Calculation (in thousands) | Description | June 30, 2024 | | :--- | :--- | | Senior Secured Term Loans | $228,354 | | Less: Cash and cash equivalents | $(29,702) | | **Net debt** | **$198,652** |

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-34354 ALTISOURCE PORTFOLIO SOLUTIONS S.A. (Exact name of registrant as specified in its Charter) Luxembourg 98-0554932 (State or o ...

LUXEMBOURG, July 23, 2024 (GLOBE NEWSWIRE) -- On Thursday, July 25, 2024, Altisource Portfolio Solutions S.A. (“Altisource”) (NASDAQ: ASPS) will report earnings for the second quarter 2024. A press release and presentation will be available on Altisource’s website in the Investor Relations section. Altisource will also host a conference call at 8:30 a.m. EDT on the same day to discuss its second quarter 2024 results. A link to the live audio webcast will be available on Altisource’s website in the Investor ...

EL PASO, Texas, May 22, 2024 (GLOBE NEWSWIRE) -- Lenders One® Cooperative (“L1” or “Lenders One”), a national alliance of independent mortgage bankers, banks and credit unions, managed by a subsidiary of Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), today announces the availability of Lenders One Insurance (“L1 Insurance”), a homeowners and automobile insurance solution offered to Lenders One members. L1 Insurance is a new member benefit that provides borrowers with mul ...

EL PASO, Texas, May 22, 2024 (GLOBE NEWSWIRE) -- Lenders One® Cooperative ("L1" or "Lenders One"), a national alliance of independent mortgage bankers, banks and credit unions, managed by a subsidiary of Altisource Portfolio Solutions S.A. ("Altisource" or the "Company") (NASDAQ:ASPS), today announces the availability of Lenders One Insurance ("L1 Insurance"), a homeowners and automobile insurance solution offered to Lenders One members. L1 Insurance is a new member benefit that provides borrowers with mult ...

ALTISOURCE FIRST QUARTER 2024 SUPPLEMENTARY INFORMATION APRIL 25, 2024 1 DISCLAIMER This presentation contains forward-looking statements that involve a number of risks pandemic, customer concentration, the timing of the anticipated increase in default and uncertainties. These forward-looking statements include all statements that are related referrals following the expiration offoreclosureand eviction moratoriums and not historical fact, including statements that relate to, among other things, future forbe ...

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) Q1 2024 Earnings Conference Call April 25, 2024 8:30 AM ET Company Participants Michelle Esterman – Chief Financial Officer Bill Shepro – Chairman and Chief Executive Officer Conference Call Participants Mike Grondahl – Northland Raj Sharma – B. Riley Operator Good day, and thank you for standing by. Welcome to the Altisource Portfolio Solutions First Quarter 2024 Earnings Call. At this time, all participants are in listen-only mode. After the speakers’ pres ...

Altisource Portfolio Solutions (ASPS) came out with a quarterly loss of $0.20 per share versus the Zacks Consensus Estimate of a loss of $0.26. This compares to loss of $0.38 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 23.08%. A quarter ago, it was expected that this real estate services firm would post a loss of $0.33 per share when it actually produced a loss of $0.37, delivering a surprise of -12.12%.Over the last four ...