secwatch.observer — SEC 8-K summary
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Issuer:     ALTISOURCE PORTFOLIO SOLUTIONS S.A. (ASPS)
CIK:        0001462418
Form:       8-K
Filed at:   2023-03-30T23:59:59+00:00
Accession:  0001462418-23-000025
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462418/000146241823000025/0001462418-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462418/000146241823000025/asps-20230330.htm
  HTML page:      https://secwatch.observer/filing/0001462418-23-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer