Altisource Portfolio Solutions S.A.(US:ASPS)2020-04-30 22:17Financial Performance - Altisource ended Q1 2020 with $120.4 million in cash, cash equivalents, and equity securities[6] - Net debt less marketable securities was $173.5 million at the end of Q1 2020, a 30% decrease compared to March 31, 2019[6] - Q1 2020 revenue was $121.4 million, a 29% decrease compared to Q1 2019's $169.9 million[11] - Adjusted operating income for Q1 2020 was $8.5 million, a 51% decrease compared to Q1 2019's $17.3 million[11] - Adjusted pretax income attributable to Altisource for Q1 2020 was $4.4 million, a 61% decrease compared to Q1 2019's $11.3 million[11] - Adjusted EBITDA for Q1 2020 was $13.2 million, a 42% decrease compared to Q1 2019's $22.7 million[11] Business Segment Performance - Field Services revenue from customers other than Ocwen, NRZ, and RESI grew by 177% in Q1 2020 compared to Q1 2019[9] - Hubzu revenue from customers other than Ocwen, NRZ, and RESI grew by 39% in Q1 2020 compared to Q1 2019[10] - Hubzu inventory from customers other than Ocwen, NRZ, and RESI grew by 22% since March 31, 2019, representing 38% of total Hubzu inventory as of March 31, 2020[10, 22] - Mortgage and Real Estate Solutions revenue from customers other than Ocwen, NRZ, and RESI grew by 47% in Q1 2020 compared to Q1 2019[10]