Altisource Q1 adj. EBITDA turns positive to $1.5M; revenue flat at $37.1M

ALTISOURCE PORTFOLIO SOLUTIONS S.A.

2023-Q1 EPS reported -$0.70 revenue$39,461,000

Adjusted EBITDA of $1.5M vs -$4.1M a year ago; net loss -$12.9M ($0.70 loss per share).
Servicer & Real Estate segment revenue $29.8M (+10% YoY); gross margin 41% vs 32%.
Origination segment revenue $7.3M, first sequential growth in eight quarters (+16.5% QoQ).
Cash $43.1M; net debt $184.1M; raised $20.5M via stock sale, used $20M to repay term loans.
Debt maturities extended to April 2025 with option to April 2026 via credit agreement amendments.

item 2.02 item 9.01

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 first quarter 2023 results: revenue $37.1 million, net income Net loss attributable to Altisource of $(12.9) million.

Period: first quarter 2023
Revenue: $37.1 million
Net income: Net loss attributable to Altisource of $(12.9) million
Result: reported results

Exact text from the filing

$14.4 million and $3.4 million, respectively, of annualized revenue on a stabilized basis • The weighted sales pipeline in the Servicer and Real Estate segment represents $37 million to $46 million in estimated annual revenue on a stabilized basis based upon our forecasted probability of closing • The weighted sales pipeline in the Origination segment

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Source: SEC EDGAR

accession 0001462418-23-000032

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