Altisource Portfolio Solutions S.A. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Altisource Portfolio Solutions S.A. has filed its Q1 2024 10-Q report.</b>

AI Summary

ALTISOURCE PORTFOLIO SOLUTIONS S.A. (ASPSW) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. Filed a 10-Q report for the period ending March 31, 2024. The filing includes financial data for the first quarter of 2024. Company name is Altisource Portfolio Solutions S.A. Primary business address is in Grand Duchy of Luxembourg. The filing is a public document.

Why It Matters

For investors and stakeholders tracking ALTISOURCE PORTFOLIO SOLUTIONS S.A., this filing contains several important signals. Provides investors with updated financial performance and position for Q1 2024. Allows for comparison with previous periods and market trends in the business services sector.

Risk Assessment

Risk Level: low — ALTISOURCE PORTFOLIO SOLUTIONS S.A. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new financial information or strategic shifts that would indicate high risk.

Analyst Insight

Review the Q1 2024 financial statements and management discussion for detailed performance insights and future outlook.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-04-25 — Filing Date (FILED AS OF DATE)
• Q1 — Quarter (Quarterly period)
• 7380 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• ALTISOURCE PORTFOLIO SOLUTIONS S.A. (company) — FILER
• 0001462418-24-000019 (company) — ACCESSION NUMBER
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 20240425 (date) — FILED AS OF DATE
• 33, BOULEVARD PRINCE HENRI (company) — BUSINESS ADDRESS STREET 1
• GRAND DUCHY OF LUXEMBOURG (company) — BUSINESS ADDRESS CITY
• 7380 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• Ocwen Financial Corporation (company) — Customer Concentration Risk

FAQ

Industry Context

Altisource Portfolio Solutions S.A. operates in the business services sector, providing a range of services likely related to real estate and mortgage industries.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting by public companies.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, expenses, and profitability.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business performance and outlook.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-25: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing updated financial information compared to the previous year's Q1 and the most recent 10-K.

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value ASPS NASDAQ Global Select Ma

Filing Documents

• asps-20240331.htm (10-Q) — 1477KB
• asps-03312024xex311.htm (EX-31.1) — 10KB
• asps-03312024xex312.htm (EX-31.2) — 10KB
• asps-03312024xex321.htm (EX-32.1) — 7KB
• 0001462418-24-000019.txt (&nbsp;) — 8399KB
• asps-20240331.xsd (EX-101.SCH) — 76KB
• asps-20240331_cal.xml (EX-101.CAL) — 82KB
• asps-20240331_def.xml (EX-101.DEF) — 302KB
• asps-20240331_lab.xml (EX-101.LAB) — 695KB
• asps-20240331_pre.xml (EX-101.PRE) — 533KB
• asps-20240331_htm.xml (XML) — 1213KB

— Financial Information

PART I — Financial Information Item 1 Interim Condensed Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations and Comprehensive Loss 4 Condensed Consolidated Statements of Equity (Deficit) 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 42 Item 4

Controls and Procedures

Controls and Procedures 43

— Other Information

PART II — Other Information Item 1

Legal Proceedings

Legal Proceedings 44 Item 1A

Risk Factors

Risk Factors 44 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 6 Exhibits 45

SIGNATURES

SIGNATURES 46 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Interim Condensed Consolidated Financial Statements (Unaudited)

Item 1. Interim Condensed Consolidated Financial Statements (Unaudited) ALTISOURCE PORTFOLIO SOLUTIONS S.A. Condensed Consolidated Balance Sheets (in thousands, except per share data) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 29,599 $ 32,522 Accounts receivable, net of allowance for doubtful accounts of $ 3,555 and $ 3,123 , respectively 13,625 11,682 Prepaid expenses and other current assets 8,350 11,336 Total current assets 51,574 55,540 Premises and equipment, net 1,413 1,709 Right-of-use assets under operating leases 2,983 3,379 Goodwill 55,960 55,960 Intangible assets, net 25,278 26,548 Deferred tax assets, net 4,985 4,992 Other assets 6,675 6,730 Total assets $ 148,868 $ 154,858 LIABILITIES AND DEFICIT Current liabilities: Accounts payable and accrued expenses $ 28,465 $ 30,088 Deferred revenue 3,445 3,195 Other current liabilities 2,171 2,477 Total current liabilities 34,081 35,760 Long-term debt 219,266 215,615 Deferred tax liabilities, net 8,998 9,028 Other non-current liabilities 19,221 19,510 Commitments, contingencies and regulatory matters (Note 21) Deficit: Common stock ($ 1.00 par value; 100,000 shares authorized, 29,963 issued and 26,953 outstanding as of March 31, 2024; 29,963 issued and 26,496 outstanding as of December 31, 2023) 29,963 29,963 Additional paid-in capital 179,093 177,278 Accumulated deficit ( 218,517 ) ( 180,162 ) Treasury stock, at cost ( 3,010 shares as of March 31, 2024 and 3,467 shares as of December 31, 2023) ( 123,874 ) ( 152,749 ) Altisource deficit ( 133,335 ) ( 125,670 ) Non-controlling interests 637 615 Total deficit ( 132,698 ) ( 125,055 ) Total liabilities and deficit $ 148,868 $ 154,858 See accompanying notes to condensed consolidated financial statements . 3 Table of Contents ALTISOURCE PORTFOLIO SOLUTIONS S.A. Condensed Statements of Operations and Comprehensive Loss (in thousands, except per share data) Three months

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View this 10-Q filing on SEC EDGAR