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Jun 30, 2022
Altisource Q2 2022 Earnings Report
Reported financial results for the second quarter 2022.
Key Takeaways
Altisource reported second quarter results with the Servicer and Real Estate segment benefiting from the restart of the default business, showing revenue and Adjusted EBITDA growth. The Origination segment saw growth in the average weighted sales pipeline. The company anticipates a return to growth and creation of substantial value for stakeholders.
Ended the second quarter 2022 with $70.7 million of cash and cash equivalents, a 100% increase from the second quarter of 2021
Ended the second quarter 2022 with $176.5 million of net debt, a 17% reduction from the second quarter of 2021
Second quarter Adjusted EBITDA loss of $6.6 million represents a $0.1 million improvement over the second quarter of 2021
Reduced second quarter 2022 Corporate costs by $6.8 million, representing a 28% reduction, compared to the second quarter 2021 from costs savings initiatives and the sale of Pointillist, partially offset by the assignment of sales and marketing employees to the segments beginning on January 1, 2022
Forward Guidance
As Altisource continues to execute on its plan, win more business and benefit from market tailwinds, it anticipates that the Company will return to growth and create substantial value for its stakeholders.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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