Luxembourg's Altisource Q2 service revenue rises on customer wins
ASPS•EBITDA falls as costs rise
Adjusted EBITDA fell 18% year over year because of higher costs to support revenue growth and the absence of a non-recurring benefit from the prior year.
Key details from the quarter included:
| Metric | Actual | Consensus Estimate |
|---|---|---|
| Q2 Adjusted EPS | $0.17 | $0.20 (1 Analyst) |
| Q2 Loss Per Share | $0.05 | |
| Q2 Adjusted Net Income | $1.99 mln | $2.20 mln (1 Analyst) |
| Q2 Adjusted EBITDA | $4.41 mln | |
| Q2 Adjusted Operating Income | $3.56 mln | $1.50 mln (1 Analyst) |
| Q2 Adjusted Pretax Profit | $2.34 mln |
Debt repurchase and outlook
Altisource said it repurchased $2 mln of debt at a 23.7% discount, recognizing a $0.7 mln gain.
The company aims to achieve a $45 mln run rate Adjusted EBITDA by Q4 2028 and expects efficiency initiatives to improve product development speed and EBITDA margins.
The one available analyst rating on the shares is "buy". The average consensus recommendation for the real estate services peer group is "buy", and the median 12-month price target for Altisource Portfolio Solutions SA is $8.00, about its July 22 closing price of .
