Altisource Q2 2024 Earnings Report
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.
Altisource
Altisource
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.