Altisource Q1 2022 Earnings Report
Key Takeaways
Altisource reported first quarter financial results with service revenue of $37.8 million and an adjusted EBITDA loss of $4.1 million, marking the first quarter of sequential revenue growth in 11 quarters and an improvement in adjusted EBITDA loss compared to the previous quarter.
Ended the quarter with $80.0 million in cash and cash equivalents, a 93% increase year-over-year.
Net debt reduced by 19% year-over-year to $167.3 million.
Service revenue grew compared to the fourth quarter of 2021, the first sequential growth in eleven quarters.
Adjusted EBITDA loss improved by $4.4 million year-over-year and $4.7 million compared to the fourth quarter of 2021.
Altisource
Altisource
Forward Guidance
Altisource anticipates benefiting from new product launches, membership growth, and a strong sales pipeline in the Origination business. The company also expects to benefit from market tailwinds and a strong sales pipeline in the Servicer and Real Estate business, which should lead to a return to growth and substantial value creation for customers and shareholders.
Positive Outlook
- Building an exciting and innovative business in the Origination sector.
- New product launches expected to drive growth.
- Membership growth anticipated to boost performance.
- Strong sales pipeline in the Origination business.
- Benefit from market tailwinds in Servicer and Real Estate business.
Challenges Ahead
- No negative forward guidance provided in the report.