SEC 8-K filings with transcript text
Jul 23, 2026
2 ex991q22026earningsrelease.htm
Document
Exhibit 99.1
Michelle D. Esterman
Chief Financial Officer
E: Michelle.Esterman@altisource.com
Second quarter 2026 Service revenue grew 19% compared to the second quarter 2025 and 8% compared to the first quarter 2026
Luxembourg, July 23, 2026 - Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported financial results for the second quarter 2026.
“We are pleased with our second quarter 2026 performance with sequential and year-over-year Service revenue growth in both segments. Service revenue growth from customer wins has more than replaced the loss of a portion of the Rithm-related business as demonstrated by our more diversified customer base and growing Hubzu inventory. In addition to strong Service revenue, we reduced outstanding debt and continued to deploy AI and other efficiency initiatives which we anticipate will improve product development speed and EBITDA margins," said William B. Shepro, Chairman and Chief Executive Officer.
Mr. Shepro further commented, "We believe the ramp of sales wins, on-going efficiency initiatives and continued sales wins position us well to achieve our Project 45 objective of $45 million in run rate Adjusted EBITDA(1) by the fourth quarter of 2028."
Second Quarter 2026 Highlights(2)
Company, Corporate and Financial:
•Second quarter Service revenue of $48.7 million was $7.9 million, or 19%, higher than the same quarter of 2025
•Second quarter Loss before income taxes and non-controlling interests of $43 thousand was a $0.2 million decrease compared to the same quarter of 2025
•Second quarter Net loss attributable to Altisource of $0.6 million was a $17.1 million decline compared to the same quarter of 2025 from an $18.5 million benefit in 2025 from the reversal of reserves for uncertain tax positions and related accrued interest
•Second quarter Diluted loss per share of $(0.05) was a $1.53 decrease compared to the same quarter of 2025
•Second quarter Adjusted diluted earnings per share(1) of $0.17 was a $0.02 decrease compared to the same quarter of 2025
•Second quarter Adjusted earnings before interest, tax, depreciation and amortization (“Adjusted EBITDA”)(1) of $4.4 million was $1.0 million, or 18% lower than the same quarter of 2025
•Second quarter Adjusted EBITDA(1) margin of 9% was lower than the 13% Adjusted EBITDA(1) margin in the same quarter of 2025 largely due to a non-recurring benefit realized in the second quarter 2025 related to a legacy matter in the Servicer and Real Estate segment and higher costs to support revenue growth
•Repurchased $2.0 million of our debt at a discount of 23.7%, recognizing a net gain of $0.7 million on the early extinguishment of debt
•Second quarter Cash used in operating activities of $6.6 million was a $6.3 million increase, compared to the same quarter of 2025, almost all of which was driven by an increase in receivables from revenue growth; we ended the quarter with $23.2 million of cash and cash equivalents
1
Business and Industry:
•Adjusted EBITDA(1) in the Servicer and Real Estate and Origination segments (together “Business Segments”) was $12.3 million, or 25.2% of Service revenue, compared to $12.9 million, or 31.5% of Service revenue, in the same quarter of 2025 primarily due to a non-recurring benefit realized in the second quarter 2025 related to a legacy matter in the Servicer and Real Estate segment and higher costs to support revenue growth
•Generated sales wins which we estimate represent potential annualized service revenue on a stabilized basis of $5.2 million for the Servicer and Real Estate segment and $7.1 million for the Origination segment
•Driven by recent sales wins, total Hubzu inventory grew 30% since the first quarter 2026
(in thousands)December 31, 2025March 31, 2026June 30, 2026
Foreclosure Auction Inventory(5) 4.914.019.3
REO Inventory - Customers other than Rithm1.42.32.6
REO Inventory - Rithm1.00.90.4
Total Hubzu Inventory7.317.222.3
•Ended the quarter with an estimated weighted average sales pipeline between $25.1 million and $31.3 million of potential estimated annual revenue on a stabilized basis based upon forecasted probability of closing (comprising of between $7.3 million and $9.1 million in the Servicer and Real Estate segment and between $17.8 million and $22.3 million in the Origination segment)
•Industrywide foreclosure initiations were 14% higher for the five months ended May 31, 2026 compared to the same period in 2025 (although still 11% lower than the same pre-COVID-19 period in 2019)(3)
•Industrywide foreclosure sales were 19% higher for the five months ended May 31, 2026 compared to the same period in 2025 (although still 42% lower than t
Apr 23, 2026
2 ex991q12026earningsrelease.htm
Document
Exhibit 99.1
Michelle D. Esterman
Chief Financial Officer
E: Michelle.Esterman@altisource.com
Luxembourg, April 23, 2026 - Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported financial results for the first quarter 2026.
“We are off to a strong start in 2026. For the quarter, we grew Service revenue by 10%, and pretax GAAP earnings by $4.9 million and cash provided by operating activities by $9.4 million, compared to the first quarter of 2025, primarily from sales wins and lower debt related interest and transaction costs. More importantly, we are seeing strength in both business segments. The Origination segment grew first quarter Service revenue by 71% and Adjusted EBITDA(1) by 166% compared to last year, primarily from sales wins and a stronger origination market. The Servicer and Real Estate segment is positioned extremely well with Hubzu inventory at 17,200 homes as of the end of the first quarter and exciting first quarter sales wins in the Title and Foreclosure Trustee businesses,” said William B. Shepro, Chairman and Chief Executive Officer.
First Quarter 2026 Highlights(2)
Company, Corporate and Financial:
•First quarter Service revenue of $45.1 million was $4.2 million, or 10%, higher than the same quarter of 2025
•First quarter Income before income taxes and non-controlling interests of $0.4 million was a $4.9 million improvement compared to the same quarter of 2025
•First quarter Net loss attributable to Altisource of $0.6 million was a $4.7 million improvement compared to the same quarter of 2025
•First quarter Diluted loss per share of $(0.06) was a $0.68 improvement compared to the same quarter of 2025
•First quarter Adjusted diluted earnings per share(1) of $0.19 was a $0.21 improvement compared to the same quarter of 2025
•First quarter Adjusted earnings before interest, tax, depreciation and amortization (“Adjusted EBITDA”)(1) of $4.4 million was $(0.8) million, or (15)% lower than the same quarter of 2025
•First quarter Adjusted EBITDA(1) margin of 10% was lower than the 13% Adjusted EBITDA(1) margin in the same quarter of 2025 largely due to revenue mix
•First quarter Cash provided by operating activities of $4.5 million was a $9.4 million improvement, compared to the same quarter of 2025, and we ended the quarter with $30.3 million of cash and cash equivalents
1
Business and Industry:
•Adjusted EBITDA(1) in the Servicer and Real Estate and Origination segments (together “Business Segments”) was $12.0 million, or 26.7% of Service revenue, compared to $12.5 million, or 30.5% of Service revenue, in the same quarter of 2025 primarily due to a change in revenue mix.
•Generated sales wins which we estimate represent potential annualized service revenue on a stabilized basis of $12.4 million for the Servicer and Real Estate segment and $4.7 million for the Origination segment
•Driven by recent sales wins, total Hubzu inventory has more than tripled since September 30, 2025
(in thousands)September 30, 2025 December 31, 2025
March 31,
2026
Foreclosure Auction Inventory(5) 4.04.914.0
REO Inventory - Customers other than Rithm0.71.42.3
REO Inventory - Rithm1.01.00.9
Total Hubzu Inventory5.77.317.2
•Ended the quarter with a weighted average sales pipeline between $25.7 million and $32.1 million of potential estimated annual revenue on a stabilized basis based upon forecasted probability of closing (comprising of between $10.4 million and $13.0 million in the Servicer and Real Estate segment and between $15.3 million and $19.1 million in the Origination segment)
•Industrywide foreclosure initiations were 5% higher for the two months ended February 28, 2026 compared to the same period in 2025 (although still 14% lower than the same pre-COVID-19 period in 2019)(3)
•Industrywide foreclosure sales were 27% higher for the two months ended February 28, 2026 compared to the same period in 2025 (although still 42% lower than the same pre-COVID-19 period in 2019)(3)
•Industrywide mortgage origination volume increased by 42% for the three months ended March 31, 2026 compared to the same period in 2025, comprised of a 19% increase in purchase origination and a 91% increase in refinancing origination(4)
First Quarter 2026 Financial Results
•Service revenue of $45.1 million
•Income from operations of $1.7 million
•Income before income taxes and non-controlling interests of $0.4 million
•Net loss attributable to Altisource of $(0.6) million
•Adjusted EBITDA(1) of $4.4 million
•Diluted loss per share of $(0.06)
•Adjusted diluted earnings per share(1) of $0.19
2
First Quarter 2026 Results Compared to the First Quarter 2025 (unaudited):
(in thousands, except
Mar 4, 2026
asps-202603040001462418false00014624182026-03-042026-03-040001462418asps:CashExerciseStakeholderWarrantsMember2026-03-042026-03-040001462418asps:NetSettleStakeholderWarrantsMember2026-03-042026-03-04
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 4, 2026
(Exact name of Registrant as specified in its Charter)
Luxembourg001-3435498-0554932 (State or other jurisdiction of incorporation) (Commission File Number)(I.R.S. Employer Identification No.)
33, Boulevard Prince Henri L-1724 Luxembourg Grand Duchy of Luxembourg (Address of principal executive offices including zip code) +352 2060 2055 (Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Title of each classTrading SymbolName of each exchange on which registered Common Stock, $0.01 par value per shareASPSThe Nasdaq Stock Market LLC
Cash Exercise Stakeholder WarrantsASPSZThe Nasdaq Stock Market LLC Net Settle Stakeholder WarrantsASPSWThe Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Item 2.02 Results of Operations and Financial Condition.
On March 4, 2026, Altisource Portfolio Solutions S.A. (“Altisource”) issued a press release announcing its financial results for the quarter ended December 31, 2025 and full year 2025. A copy of the press release is attached hereto as Exhibit 99.1.
The information in this Item 2.02, including the information in Exhibit 99.1, is furnished solely pursuant to Item 2.02 of this Form 8-K. Consequently, it is not deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that Section. It may only be incorporated by reference in another filing under the Securities Exchange Act of 1934 or Securities Act of 1933 if such subsequent filing specifically references this Item 2.02 of this Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.Description Exhibit 99.1 Press release issued by Altisource Portfolio Solutions S.A. dated March 4, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 4, 2026
Altisource Portfolio Solutions S.A.
By:/s/ Michelle D. Esterman Name:Michelle D. Esterman Title:Chief Financial Officer
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