Altisource Q3: service revenue $34.1M, net loss $11.3M; Adjusted EBITDA $0.9M, up $7.3M YoY

ALTISOURCE PORTFOLIO SOLUTIONS S.A.

2023-Q3 EPS reported -$2.10 revenue$110,909,000

Service revenue $34.1M, down 6% YoY; net loss attributable $11.3M improved from $14.4M loss.
Adjusted EBITDA of $0.9M, an improvement of $7.3M YoY and $4.4M QoQ.
Generated $18.4M net proceeds from September equity sale; used $10M to reduce term loan, eliminating 966,038 warrants.
Cost reduction plan targeting $13.5M annual savings; September adjusted compensation costs $0.9M lower than Q2 avg.
Sales wins estimated at $15.3M annual revenue in Servicer/Real Estate and $1.7M in Origination.

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 0.95

ALTISOURCE PORTFOLIO SOLUTIONS S.A. reported the third quarter 2023 results: revenue $34.1 million, net income Net loss attributable to Altisource of $(11.3) million, EPS Diluted loss per share (0.51).

Period: the third quarter 2023
Revenue: $34.1 million
Net income: Net loss attributable to Altisource of $(11.3) million
EPS: Diluted loss per share (0.51)
Result: reported results

Exact text from the filing

Third Quarter 2023 Financial Results • Service revenue of $34.1 million • Loss before income taxes and non-controlling interests of $(10.9) million • Net loss attributable to Altisource of $(11.3) million • Adjusted EBITDA (2) of $0.9 million

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Source: SEC EDGAR

accession 0001462418-23-000076

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