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Jun 30, 2024
Altisource Q2 2024 Earnings Report
Announced second quarter 2024 financial results, demonstrating service revenue growth and improved profitability despite industry headwinds.
Key Takeaways
Altisource reported a strong second quarter with Service revenue of $36.9 million and Adjusted EBITDA of $4.4 million. The company modestly increased cash and cash equivalents to $29.7 million. Altisource is on track to achieve its 2024 guidance of 13% to 32% service revenue growth over 2023 and Adjusted EBITDA between $17.5 million and $22.5 million in 2024.
Second quarter Service revenue of $36.9 million, 11% higher than the same quarter of 2023.
Second quarter Adjusted EBITDA of $4.4 million, a $7.9 million improvement from the same quarter of 2023.
Second quarter gross profit margin of 34.0%, considerably stronger than the 16.7% in the same quarter of 2023.
Ended the quarter with $29.7 million of cash and cash equivalents.
Forward Guidance
Altisource is on track to achieve its 2024 guidance of 13% to 32% service revenue growth over 2023 and Adjusted EBITDA between $17.5 million and $22.5 million in 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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