Altisource Q3 service revenue rises on new customer wins
ASPS•Altisource’s Q3 service revenue grew 26% year over year, adjusted diluted EPS rose 30% to $0.13, and adjusted EBITDA increased 17%. The company aims to reach $45 million in run-rate adjusted EBITDA by Q4 2028.
1. Quarterly results
Altisource said Q3 service revenue grew 26% year over year as new customer wins ramped up. Adjusted diluted EPS rose 30% to $0.13, while adjusted EBITDA increased 17% to $4.25 million; its margin declined due to revenue mix and investments.
2. Revenue and outlook
Revenue from customers outside Onity and Rithm grew 96% year over year and represented 72% of service revenue. Altisource aims to reach $45 million in run-rate adjusted EBITDA by Q4 2028 and said AI and efficiency initiatives are anticipated to support scalability and operating leverage in coming quarters.
