Altisource Q4 net loss $11.3M, FY revenue down 15% to $144.5M; adjusted EBITDA improves

ALTISOURCE PORTFOLIO SOLUTIONS S.A.

Full year 2022 service revenue $144.5M (-15% YoY); net loss attributable $53.4M vs income $11.8M in 2021.
Q4 2022 service revenue $32.8M (-11% YoY); net loss $11.3M vs income $70.6M in 2021 (prior year included $88.9M gain on Pointillist sale).
Adjusted EBITDA improved to $(16.6)M for FY 2022 from $(31.7)M in 2021; Q4 adjusted EBITDA $0.6M vs $(8.8M).
Reduced corporate costs by $31M in 2022; ended year with $51M cash and $196.2M net debt.
In Feb 2023, amended credit agreements to extend maturity to April 2025 (option to 2026) and raised ~$21M net from stock sale, using $20M to repay term loans.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALTISOURCE PORTFOLIO SOLUTIONS S.A. reported full year 2022 results: revenue $144.5 million, net income $(53.4) million, EPS (3.32).

Period: full year 2022
Revenue: $144.5 million
Net income: $(53.4) million
EPS: (3.32)
Result: reported results

Exact text from the filing

to $25 million in estimated annual revenue on a stabilized basis based upon our forecasted probability of closing 2022 Financial Results Full Year 2022 • Service revenue of $144.5 million • Loss before income taxes and non-controlling interests of $(47.6) million • Net loss attributable to Altisource of $(53.4) million • Adjusted EBITDA (3) of $(16.6) million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALTISOURCE PORTFOLIO SOLUTIONS S.A. reported the quarter ended December 31, 2022 results: revenue $32.8 million, net income $(11.3) million, EPS (0.70).

Period: the quarter ended December 31, 2022
Revenue: $32.8 million
Net income: $(11.3) million
EPS: (0.70)
Result: reported results

Exact text from the filing

interests of $(47.6) million • Net loss attributable to Altisource of $(53.4) million • Adjusted EBITDA (3) of $(16.6) million Fourth Quarter 2022 • Service revenue of $32.8 million • Loss before income taxes and non-controlling interests of $(8.2) million • Net loss attributable to Altisource of $(11.3) million • Adjusted EBITDA (3) of $0.6 million Fourth

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ALTISOURCE PORTFOLIO SOLUTIONS S.A. filing history →

Source: SEC EDGAR

accession 0001462418-23-000025

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