Q2 2026 Altisource Portfolio Solutions SA Earnings Call Transcript
Key Points
- Altisource Portfolio Solutions SA (ASPS) reported a 19% increase in service revenue for the second quarter of 2026 compared to the same period in 2025.
- The company achieved a 62% growth in the Origination segment and an 8% growth in the Servicer and Real Estate segment.
- ASPS successfully reduced outstanding debt and repurchased $2 million of its term loan, contributing to financial stability.
- The company is deploying AI and other efficiency initiatives to improve product development speed and EBITDA margins.
- ASPS has diversified its customer base, reducing dependence on Onity and Rithm, with 65% of service revenue now coming from other customers.
- Despite revenue growth, adjusted EBITDA and adjusted EBITDA margins declined quarter over quarter due to non-recurring benefits in the previous year and higher costs.
- Net cash used in operating activities was $6.6 million, driven by an increase in receivables from revenue growth.
- The Servicer and Real Estate segment's adjusted EBITDA decreased by 2% compared to the same quarter last year.
- Corporate adjusted EBITDA loss increased by $400,000 compared to the second quarter of 2025.
- Working capital was a use of cash this quarter, primarily due to growth in receivables, which may continue as revenues grow.
Ladies and gentlemen, thank you for standing by. Welcome to Altisource Portfolio Solutions second-quarter 2026 earnings call. (Operator Instructions) Please note that today's conference is being recorded.
I would now like to turn the conference over to 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 involve 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 and our 2026 Form 10-Q filings. These describe some factors that may
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