Logo

ASPS

Altisource Portfolio Solutions S.A.

ASPS

Altisource Portfolio Solutions S.A. • NASDAQ
$9.62 ▲ 3.39% (+0.32)
Market Cap $105.68 M
52w High $15.96
52w Low $3.44
Dividend Yield 0%
P/E -5.9
Volume 7.03K
Outstanding Shares 10.99M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $41.908M ▼ $10.826M ▲ $-2.396M ▼ -5.717% ▼ $-0.22 ▼ $2.421M ▼
Q2-2025 $43.288M ▼ $9.796M ▼ $16.582M ▲ 38.306% ▲ $1.51 ▲ $4.611M ▲
Q1-2025 $43.439M ▲ $10.08M ▼ $-5.344M ▲ -12.302% ▲ $-0.09 ▲ $2.049M ▼
Q4-2024 $41.013M ▲ $11.854M ▲ $-8.769M ▲ -21.381% ▲ $-2.48 ▼ $3.047M ▼
Q3-2024 $40.531M $10.965M $-9.362M -23.098% $-0.33 $3.338M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $28.598M ▼ $139.91M ▼ $243.382M ▼ $-104.211M ▼
Q2-2025 $29.985M ▼ $142.941M ▼ $244.871M ▼ $-102.689M ▲
Q1-2025 $30.817M ▲ $145.659M ▲ $264.688M ▼ $-119.765M ▲
Q4-2024 $29.811M ▲ $143.606M ▼ $300.317M ▲ $-157.376M ▼
Q3-2024 $28.339M $144.503M $293.189M $-149.386M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.325M ▼ $718K ▲ $-271K ▼ $-832K ▼ $-385K ▲ $718K ▲
Q2-2025 $16.582M ▲ $-509.651K ▲ $-4.08K ▲ $-309.979K ▼ $-832K ▼ $-513.73K ▲
Q1-2025 $-5.344M ▲ $-4.972M ▼ $-25K ▼ $5.99M ▲ $1.006M ▼ $-4.997M ▼
Q4-2024 $-8.769M ▲ $-1.293M ▲ $2.223M ▲ $626.151K ▲ $1.472M ▲ $-1.296M ▲
Q3-2024 $-9.362M $-1.613M $0 $197.996K $-1.363M $-1.613M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Noncontrolling Interest Revenue
Noncontrolling Interest Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Reimbursable Expenses
Reimbursable Expenses
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Service
Service
 $80.00M ▲$40.00M ▼$40.00M ▲$40.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Altisource’s revenue base has shrunk meaningfully from earlier years and has been roughly flat more recently, which suggests the business is still in a rebuilding or stabilization phase rather than a strong growth phase. Profitability has improved: gross profit has inched up, operating losses have narrowed, and EBITDA has turned slightly positive in the latest year. However, the company is still losing money at the bottom line, with recurring net losses and negative earnings per share over most of the last five years. The trend is one of gradual operational improvement, but from a weak starting point and not yet at a sustainably profitable level.

Balance Sheet

Balance Sheet The balance sheet is a clear weak spot. Total assets have been drifting down, cash balances are modest, and debt is larger than the asset base, which results in negative shareholders’ equity. In simple terms, the company is highly leveraged and technically balance-sheet insolvent, relying on lenders’ and counterparties’ continued support. Any stress in cash generation or access to financing could quickly become uncomfortable. While there has been some debt restructuring more recently, the underlying picture is still one of financial fragility rather than strength.

Cash Flow

Cash Flow Altisource has been consistently using, not generating, cash from its operations over the past five years. The cash burn has gradually improved, but operating cash flow remains negative. Capital spending is very light, which reflects an asset‑light, service and software‑driven model, so free cash flow closely tracks operating cash flow and has also been negative. This means the business has depended on external funding, working capital changes, or asset sales to cover its needs. The key question going forward is whether the improving trend can cross into clearly positive cash generation before funding flexibility tightens.

Competitive Edge

Competitive Edge The company’s main strength is its integrated ecosystem of mortgage and real estate platforms—Hubzu for auctions, Equator for default workflow management, and RentRange for rental data—combined with related services across the default and origination lifecycle. This “one‑stop” offering is relatively differentiated in a fragmented market and has been recognized by industry awards, which supports its credibility. A deep, long‑term relationship with its largest customer, Onity (formerly Ocwen), provides recurring business and acts as a partial moat, though it also concentrates risk in a single key client. The model is somewhat counter‑cyclical, benefiting from higher foreclosures and delinquencies, which can be a strategic hedge in downturns. Overall, the competitive position is specialized and defensible, but heavily tied to one client and to conditions in the mortgage default market.

Innovation and R&D

Innovation and R&D Altisource’s innovation is more about building and enhancing platforms than about traditional laboratory‑style R&D. Its core tools—Hubzu, Equator, RentRange, and the Lenders One network—are digital, data‑driven, and designed to automate workflows and improve decision‑making for lenders, servicers, and investors. Recent industry recognition and new offerings like L1 Insurance, as well as partnerships aimed at affordable housing, indicate ongoing product development and ecosystem building. Management signals that future efforts are likely to focus on adding more advanced analytics, automation, and possibly AI features to existing platforms, expanding solutions within Lenders One, and selectively acquiring complementary businesses. The opportunity is to deepen the value of its data and workflow tools; the risk is that innovation appears evolutionary rather than transformative, in a sector where competitors are also investing heavily in technology.

Summary

Altisource is a niche, technology‑enabled real estate and mortgage services company with a clear strategic focus but a challenged financial profile. Operationally, it has been slowly improving margins and edging closer to break‑even, yet it still posts net losses and negative cash flow. Financially, the balance sheet is stretched, with more debt than assets and limited cash, leaving little room for prolonged setbacks. Competitively, the firm benefits from an integrated platform suite, industry recognition, and a powerful anchor client relationship, but it is exposed to concentration risk and to swings in the mortgage and default cycle. Its future hinges on turning operational gains into consistent profitability and cash generation while continuing to enhance and monetize its technology platforms without overextending its already tight financial resources.

NEWS

October 28, 2025 · 7:43 AM UTC

Altisource Announces Form S-3 Filing Related to Shares Previously Issued to Lenders

Read more

October 23, 2025 · 7:07 AM UTC

Altisource Announces Third Quarter 2025 Financial Results

Read more

October 20, 2025 · 10:52 AM UTC

Altisource Portfolio Solutions S.A. Schedules Third Quarter 2025 Conference Call

Read more