Altisource Portfolio Solutions S.A. reported its financial results for the first quarter of 2025, revealing a revenue of $43.4 million, a 10% increase from $39.5 million in the same period of 2024. The growth was primarily driven by an 11% rise in service revenue, which reached $40.9 million, attributed to increased activity in both the Servicer and Real Estate segment and the Origination segment. The company reported a gross profit of $13.3 million, up from $12.3 million, maintaining a gross margin of 33% of service revenue.
The company experienced a significant reduction in its net loss, which narrowed to $5.3 million from $9.2 million year-over-year. This improvement was supported by a decrease in selling, general, and administrative expenses, which fell by 22% to $10.1 million, reflecting cost-cutting measures and operational efficiencies. Additionally, interest expenses decreased by 48% to $4.9 million, largely due to a reduction in the outstanding balance of senior secured term loans following a debt exchange transaction completed in February 2025.
Operationally, Altisource's customer base remains concentrated, with Onity Group Inc. accounting for 45% of total revenue in the first quarter. The company recognized $19.4 million in revenue from Onity, up from $17.6 million in the prior year. The filing also noted that the company has been actively working to expand its service offerings, including launching a residential renovation business and enhancing its technology platforms to better serve its clients.
As of March 31, 2025, Altisource reported total assets of $145.7 million, a slight increase from $143.6 million at the end of 2024. The company’s total liabilities decreased significantly, primarily due to the restructuring of its debt, which included a new first lien loan facility and a super senior credit facility. The company’s employee headcount has also seen changes, reflecting its strategic focus on efficiency and cost management.
Looking ahead, Altisource remains cautiously optimistic about its growth prospects, particularly in light of anticipated improvements in the default market and ongoing efforts to enhance its service offerings. The company plans to leverage its existing customer relationships while exploring new opportunities to expand its market share in the real estate and mortgage sectors.
About ALTISOURCE PORTFOLIO SOLUTIONS S.A.
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