Altisource Portfolio Solutions S.A.(US:ASPS)2025-07-24 12:30Financial Performance Highlights - Total Company Service revenue grew by 11% to $40.8 million compared to Q2 2024[19] - Total Company Adjusted EBITDA increased by 23% to $5.4 million compared to Q2 2024[19] - Servicer and Real Estate segment service revenue increased by 10% to $32.0 million[24] - Origination segment service revenue increased by 13% to $8.8 million[32] - Q2 2025 net income attributable to Altisource reflects an income tax benefit from the reversal of certain tax reserves related to India operations[19] Segment Performance - Servicer and Real Estate segment Adjusted EBITDA increased by 8% to $12.0 million, with margins declining slightly to 37.4% due to revenue mix[24] - Origination segment Adjusted EBITDA increased by 81% to $0.9 million, driven by stronger margins and service revenue growth[32] - Corporate Adjusted EBITDA loss was $7.5 million, $0.3 million higher than Q2 2024[40] Market Environment - Despite low delinquency rates, foreclosure starts increased by 15% in April and May 2025 compared to the same period in 2024, but were 29% lower than the same period in 2019[44] - Foreclosure sales in April and May 2025 were 10% higher than the same period in 2024 but were 47% lower than the same period in 2019[44] - Q2 2025 mortgage origination unit volume increased 27% compared to Q2 2024, with refinance activity increasing 89%[44]