Altisource Announces Third Quarter 2024 Financial Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 24 2024
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Source: Newsfilter
Financial Performance: Altisource Portfolio Solutions reported a third quarter 2024 Service revenue of $38.2 million, an increase of 11.8% year-over-year, alongside improved Adjusted EBITDA of $3.6 million, reflecting strong sales wins and operational efficiency despite declines in foreclosure activities.
Market Positioning: The company is diversifying its revenue streams through the launch of its Renovation business and aims for further growth by expanding its customer base, while also navigating a challenging market environment characterized by lower delinquency rates and foreclosure initiations.
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Analyst Views on ASPS
About ASPS
Altisource Portfolio Solutions SA is a Luxembourg-based integrated service provider for the real estate and mortgage industries. The Company offers portfolio management and related technology products, asset recovery, and customer relationship management services. It acts as a transaction solutions provider with the electronic payment management software and behavioral science-based analytics for the business processes, vendor, and marketplace participants. It also provides technology and solutions to mortgage servicing and origination clients as well as buyers and sellers of single-family residential real estate (single-family rental (SFR) solution) that helps improve operations, save money, reduce risk, and grow or liquidate portfolios.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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