Q1 2026 Altisource Portfolio Solutions SA Earnings Call Transcript
Key Points
- Altisource Portfolio Solutions SA reported a 10% increase in service revenue for the first quarter of 2026 compared to the same period in 2025.
- The Origination segment experienced a significant 71% growth in service revenue, driven by sales wins in the Lenders One business.
- The company achieved a $4.9 million improvement in pre-tax GAAP earnings compared to the first quarter of 2025.
- Net cash provided by operating activities improved by $9.4 million year-over-year, reaching $4.5 million.
- The Hubzu inventory more than tripled since September 2025, indicating strong growth potential in the Servicer and Real Estate segment.
- Total company adjusted EBITDA declined by $800,000 due to a revenue mix with higher revenue in the lower margin Origination segment.
- The Servicer and Real Estate segment experienced a 5% decline in service revenue, primarily due to a one-time 2025 pricing adjustment benefit.
- First-quarter Servicer and Real Estate segment adjusted EBITDA decreased by 10% compared to the same quarter last year.
- The sales pipeline in the Servicer and Real Estate segment decreased from $19.3 million to $11.7 million quarter-over-quarter.
- Corporate adjusted EBITDA loss increased modestly to $7.6 million in the first quarter of 2026 compared to the same period in 2025.
Good day and thank you for standing by. Welcome to the Altisource Portfolio Solutions' first-quarter 2026 earnings call.
(Operator Instructions)
Please be advised that this conference is being recorded.
I would now like to introduce your speaker for today, Michelle Esterman, Chief Financial Officer. Please go ahead.
Thank you, operator. We first want to remind you that the earnings release and quarterly slides are available on our website at www.altisource.com. These provide additional information investors may find useful.
Our remarks today include forward-looking statements, which include a number of risks and uncertainties that could cause actual results to differ. Please review the forward-looking statements sections in the company's earnings release and quarterly slides, as well as the risk factors contained in our 2025 Form 10-K. These describe some factors that may lead to
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