Altisource reports Q1 adjusted EPS (20c) vs. (38c) last year

Reports Q1 revenue $39.5M vs. $39.5M last year. “I am very pleased with our first quarter performance. We generated $4.6 million of Adjusted EBITDA marking our best quarterly performance since the third quarter of 2020, on $36.9 million of service revenue. We are winning meaningful new business and ramping 2023 sales wins on a lower cost base. In our Servicer and Real Estate segment, we are winning market share. In our Origination segment, we are increasing adoption of our solutions that help originators save money,” said Chairman and CEO William Shepro.”We believe our financial results and sales wins demonstrate that we are not waiting for the default market to return to normal or for delinquency rates to rise to achieve growth. For the balance of 2024, we anticipate quarter over quarter Service revenue and Adjusted EBITDA growth compared to the same quarters in 2023 as we continue to ramp sales wins and win new business on a lower cost base.”