secwatch.observer — SEC 8-K summary
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Issuer:     ALTISOURCE PORTFOLIO SOLUTIONS S.A. (ASPS)
CIK:        0001462418
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0001462418-23-000048
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Altisource Q2 net loss widens to $18.9M; service revenue down 12% YoY
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- Q2 service revenue $33.2M (down 12% YoY); net loss attributable to Altisource $(18.9)M vs $(15.5)M a year ago.
- Adjusted EBITDA $(3.5)M, improved 47% from $(6.6)M in Q2 2022; year-to-date Adjusted EBITDA $(2.0)M, up 81%.
- Cash and equivalents $35.0M at period end; net debt $194.7M.
- Expects roughly break-even Adj. EBITDA in Q3 and positive Adj. EBITDA for Q4 and full year.
- Company-wide cost reduction plan launched in July to cut annual cash operating expenses by $13.5M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462418/000146241823000048/0001462418-23-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462418/000146241823000048/asps-20230727.htm
  HTML page:      https://secwatch.observer/filing/0001462418-23-000048

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