Altisource Q2 service rev $36.9M (+11% YoY); Adj EBITDA $4.4M vs ($3.5M) loss

ALTISOURCE PORTFOLIO SOLUTIONS S.A.

2024-Q2 EPS reported -$0.62 revenue$78,590,000

Service revenue $36.9M, up 11% YoY; gross profit margin improved to 34.0% from 16.7%.
Adjusted EBITDA $4.4M vs ($3.5M) in Q2 2023, margin 11.9% from (10.5)%.
Net loss attributable to Altisource $(8.3)M ($0.29 diluted loss per share) vs $(18.9)M ($0.90) YoY.
FY 2024 guidance: service revenue growth 13%-32% over 2023; Adj EBITDA $17.5M-$22.5M.
Sales wins estimated at $15.3M Servicer/Real Estate, $1.5M Origination; pipeline $31M-$39M.

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