Altisource reports Q3 adjusted EPS (44c) vs (70c) last year

Reports Q3 revenue $36.213M vs $38.280M last year. “I am pleased with our third quarter performance. We generated $874 thousand of Adjusted EBITDA, a $4.4 million improvement over the second quarter of 2023 and a $7.3 million improvement over the same quarter in 2022. For the first nine months of 2023, we improved Adjusted EBITDA by $16.1 million compared to the same period last year. We also generated $18.4 million in net proceeds from the September sale of equity and used $10 million of the proceeds to reduce the principal balance of our term loan. As a result of the debt reduction, we eliminated 966,038 penny warrants, can exercise an option to extend the maturity date of our term loan and revolver by one year to April 2026, and estimate we will save approximately $3.4 million per year in interest expense,” said Chairman and Chief Executive Officer William B. Shepro.