Altisource Portfolio Solutions S.A.-Altisource Announces Fourth Quarter and Full Year 2024 Financial Results

Company Performance - In 2024, the company achieved a total Service revenue of $150.4 million, representing a 10% increase from 2023, and an Adjusted EBITDA of$ 17.4 million, which was $18.3 million higher than the previous year [4][7] - The fourth quarter of 2024 saw Service revenue of$ 38.4 million, a 19% increase compared to the same quarter in 2023, marking the highest quarterly Service revenue since Q3 2021 [4][6] - The company ended 2024 with $29.8 million in cash and cash equivalents [4] Financial Highlights - The Adjusted EBITDA margin improved to 29.7% in 2024 from 25.1% in 2023, driven by efficiency initiatives and cost savings [4][7] - The company reported a net loss attributable to Altisource of$ (35.6) million for the full year 2024, a 37% improvement compared to $(56.3) million in 2023 [8][7] - The diluted loss per share decreased to$ (1.25) in 2024 from $(2.51) in 2023, reflecting a 50% improvement [8][7] Business Segments - Service revenue in the Servicer and Real Estate segment increased by 11% to$ 120 million, while the Origination segment saw a 6% increase to $30 million [7] - The company generated estimated potential annualized Service revenue of$ 25.8 million from sales wins in the Servicer and Real Estate segment and $13.6 million in the Origination segment [7] Market Outlook - For 2025, the company is guiding Service revenue between$ 165 million and $185 million, and Adjusted EBITDA between$ 18 million and $23 million, indicating a projected growth of 16% in Service revenue and 18% in Adjusted EBITDA compared to 2024 [3][2] - The company anticipates maintaining cost discipline while diversifying its revenue base and ramping up business won [3][2]