Altisource Portfolio Solutions S.A. Files Q3 2024 10-Q

TL;DR

Altisource Q3 2024 10-Q is in. Financials look steady.

AI Summary

Altisource Portfolio Solutions S.A. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity. Specific financial figures and operational details for the third quarter and year-to-date periods are presented.

Why It Matters

This filing provides investors and stakeholders with a detailed look at Altisource's financial health and operational results for the third quarter of 2024, crucial for understanding the company's current performance and future outlook.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) that reports on the company's financial performance and position without indicating any immediate or significant new risks.

Key Numbers

• 2024-09-30 — Reporting Period End (The end date for the financial data presented in the 10-Q.)
• 2024-10-24 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• ALTISOURCE PORTFOLIO SOLUTIONS S.A. (company) — Filer
• 2024-09-30 (date) — Reporting Period End Date
• 2024-10-24 (date) — Filing Date

FAQ

Key Financial Figures

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

Filing Documents

• asps-20240930.htm (10-Q) — 2027KB
• asps-09302024xex311.htm (EX-31.1) — 10KB
• asps-09302024xex312.htm (EX-31.2) — 10KB
• asps-09302024xex321.htm (EX-32.1) — 7KB
• 0001462418-24-000046.txt ( ) — 10231KB
• asps-20240930.xsd (EX-101.SCH) — 78KB
• asps-20240930_cal.xml (EX-101.CAL) — 87KB
• asps-20240930_def.xml (EX-101.DEF) — 338KB
• asps-20240930_lab.xml (EX-101.LAB) — 807KB
• asps-20240930_pre.xml (EX-101.PRE) — 619KB
• asps-20240930_htm.xml (XML) — 1598KB

— 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 7 Notes to Condensed Consolidated Financial Statements 8 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 29 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 48 Item 4

Controls and Procedures

Controls and Procedures 48

— Other Information

PART II — Other Information Item 1

Legal Proceedings

Legal Proceedings 49 Item 1A

Risk Factors

Risk Factors 49 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 49 Item 5 Other Information 49 Item 6 Exhibits 50

SIGNATURES

SIGNATURES 51 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) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 28,339 $ 32,522 Accounts receivable, net of allowance for credit losses of $ 3,486 and $ 3,123 , respectively 14,241 11,682 Prepaid expenses and other current assets 8,244 11,336 Total current assets 50,824 55,540 Premises and equipment, net 901 1,709 Right-of-use assets under operating leases 2,544 3,379 Goodwill 55,960 55,960 Intangible assets, net 22,738 26,548 Deferred tax assets, net 4,968 4,992 Other assets 6,568 6,730 Total assets $ 144,503 $ 154,858 LIABILITIES AND DEFICIT Current liabilities: Accounts payable and accrued expenses $ 32,500 $ 30,088 Current portion of long-term debt 226,708 — Deferred revenue 3,769 3,195 Other current liabilities 2,402 2,477 Total current liabilities 265,379 35,760 Long-term debt — 215,615 Deferred tax liabilities, net 9,104 9,028 Other non-current liabilities 18,706 19,510 Commitments, contingencies and regulatory matters (Note 21) Deficit: Common stock ($ 1.00 par value; 100,000 shares authorized, 29,963 issued and 27,171 outstanding as of September 30, 2024; 29,963 issued and 26,496 outstanding as of December 31, 2023) 29,963 29,963 Additional paid-in capital 180,776 177,278 Accumulated deficit ( 247,545 ) ( 180,162 ) Treasury stock, at cost ( 2,792 shares as of September 30, 2024 and 3,467 shares as of December 31, 2023) ( 112,580 ) ( 152,749 ) Altisource deficit ( 149,386 ) ( 125,670 ) Non-controlling interests 700 615 Total deficit ( 148,686 ) ( 125,055 ) Total liabilities and deficit $ 144,503 $ 154,858 See accompanying notes to condensed consolidated financial statements . 3 Table of Contents ALTISOURCE PORTFOLIO SOLUTIONS S.A. Condensed Consolidated Statements of Operations and Comprehensive

View Full Filing

View this 10-Q filing on SEC EDGAR