Altisource Portfolio Solutions S.A.(US:ASPS)2025-05-01 11:36Financial Performance - Altisource's service revenue grew by 11% to $40.9 million compared to Q1 2024[10] - Adjusted EBITDA increased by 14% to $5.3 million compared to Q1 2024[10] - Business Segments Adjusted EBITDA was $12.5 million with a 30.5% margin, a $1.6 million improvement and a 100-basis point margin increase[17] - Corporate Adjusted EBITDA loss increased by $0.9 million, or 15%, to $7.2 million[17] Debt and Interest Expense - Long-term debt reduced by over $60 million, from $232.8 million to $172.5 million[19] - Annual cash and payment-in-kind interest expense reduced by approximately $18 million to $13 million on a pro forma basis[19] - Annual GAAP interest expense reduced by $23 million to approximately $9.5 million on a pro forma basis[19] Segment Performance - Servicer and Real Estate segment service revenue increased 13% to $32.9 million[22] - Servicer and Real Estate segment Adjusted EBITDA increased 15% to $12.0 million, with margins improving to 36.5%[22] - Origination segment service revenue increased 3% to $8.0 million[28] - Origination segment Adjusted EBITDA was flat at $0.5 million[28] Market Environment - Market-wide foreclosure starts increased 25% in Q1 2025 compared to Q1 2024, while foreclosure sales were 2% lower[22]