Altisource Portfolio Stock Price, News & Analysis

Altisource Portfolio Solutions (ASPS) reported its 2021 financial results, demonstrating resilience amidst pandemic challenges. The company ended the year with $98.1 million in cash, up 68% from 2020, and reduced net debt by 21% to $149.1 million. Service revenue declined 51% year-over-year to $170.6 million, while net income rose to $11.8 million or $0.74 per share. Looking ahead, ASPS anticipates revenue growth starting Q3 2022, driven by the end of borrower relief programs and new solutions. Positive Adjusted EBITDA is expected in the second half of 2022.

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) will report its fourth quarter and full year 2021 earnings on March 3, 2022. The press release and presentation will be accessible on Altisource’s Investor Relations website. A conference call will follow at 8:30 a.m. EST to discuss the results. Participants should log in early to ensure proper setup for the call. A replay will be available post-call for 30 days.

Altisource is a service provider for the real estate and mortgage industries, leveraging innovative technologies to meet market demands.

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) has successfully closed the sale of its majority-owned subsidiary, Pointillist, Inc., to Genesys Cloud Services, Inc.. The company received $102.2 million in cash at closing and anticipates an additional $3.8 million from escrow accounts in the future. Altisource estimates a pre-tax and after-tax gain of approximately $107 million from the transaction. The funds will strengthen the balance sheet and support general corporate purposes, including repaying outstanding debt.

SFRhub.com, a pioneering platform for single-family rental investments, has partnered with Altisource to create a comprehensive online marketplace catering to SFR and Build-for-Rent properties. This collaboration aims to streamline the investment process, offering integrated services including data analytics, property management, and financial solutions. With an estimated $1 billion in rental portfolio listings and nearly 200,000 homes reviewed since 2018, SFRhub.com is positioned as a leader in the sector. This 'one-stop' solution aims to enhance efficiency for investors.

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) reported its Q3 2021 financial results, showing significant challenges. Service revenue declined by 51% year-over-year to $41.6 million, with a net loss of $18.3 million, or $1.15 per diluted share. Despite this, the company anticipates stronger performance in 2022, fueled by its Default business and strategic initiatives in Origination. The anticipated sale of its equity interest in Pointillist is expected to enhance its balance sheet by adding approximately $100 million in cash. Cash operating costs were reduced by 26% year-over-year.

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) will report its third quarter 2021 earnings on November 4, 2021. A press release and presentation will be accessible on the company's Investor Relations website. Following the earnings release, a conference call will take place at 11:00 a.m. EDT to discuss the results. Interested listeners should visit the website 15 minutes in advance. A replay will be available approximately two hours post-call and remain accessible for 30 days.

Lenders One has appointed Tricia Migliazzo as Senior Vice President of Origination Sales, effective October 15, 2021. With over 20 years in the mortgage industry, including previous roles at Lenders One and Altisource, she will manage sales teams and oversee various services like CastleLine and Premium Title. Lenders One is a leading cooperative in the mortgage sector, originating approximately $780 billion in mortgages in 2020. Migliazzo aims to enhance member competitiveness and growth.

Altisource Portfolio Solutions (NASDAQ: ASPS) announced a definitive agreement for its subsidiary Pointillist to be acquired by Genesys for $150 million. Altisource expects to receive about $100 million in cash at closing, with an estimated $107 million post-tax gain from the transaction. Pointillist, founded in 2019, is a SaaS platform focused on customer journey management. The deal is subjected to customary closing conditions and anticipated to close by the end of 2021.

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) has partnered with ForumPay to facilitate real estate purchases using cryptocurrency, allowing buyers to convert digital assets into dollars seamlessly. This innovative option is available for properties listed on Equator.com and Hubzu.com, enabling a direct transfer of converted funds to Premium Title, Altisource's affiliate. The move is positioned as enhancing access for investors seeking to diversify their assets amid rising cryptocurrency values, marking a significant advancement in real estate transactions.