Altisource Portfolio Solutions S.a. · NASDAQ:ASPS
Altisource Portfolio Solutions — Q3 2025 Earnings Presentation
31 slides from Altisource Portfolio Solutions's earnings presentation, October 2025
Slide 1: Altisource Portfolio Solutions Third Quarter 2025 Supplementary Information
ALTISOURCE PORTFOLIO SOLUTIONS THIRD QUARTER 2025 SUPPLEMENTARY INFORMATION AUGUST 2022 © 2025 Altisource All Rights Reserved.
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements that involve a number of risks and include, but are not limited to, risks related to customer concentration, the timing of the uncertainties. These forward-looking statements include all statements that are not anticipated increase in
Slide 3: Non-GAAP Measures
NON-GAAP MEASURES Adjusted operating income, pretax loss attributable to Altisource, adjusted pretax (loss) Furthermore, we believe the exclusion of more significant non-operational items enables income attributable to Altisource, adjusted net (loss) income attributable to Altisource, comparability
Slide 4: Third Quarter 2025 Overview
THIRD QUARTER 2025 OVERVIEW Grew Service revenue and improved pre- and post-tax GAAP earnings, GAAP earnings per share and cash flow from operations compared to Q3 2024 Earnings improvement is largely from our focus on growing our businesses that have tailwinds, cost discipline and lower interest ex
Slide 5: Total Company Financial Performance
TO TA L C O M PA N Y F I N A N C I A L P E R F O R M A N C E Service Revenue Business Segments1 Adjusted EBITDA2 Q3 2025 Highlights (vs. Q3 2024) $40.9 $40.8 $39.7 $38.2 $38.4 • Grew total Company Service revenue by 4% to $39.7 million $32.9 $32.0 $31.2 • Service revenue growth primarily reflects th
Slide 6: Total Company Financial Performance: GAAP Results
TO TA L C O M PA N Y F I N A N C I A L P E R F O R M A N C E GAAP Results • Q3 2025 loss before income taxes and non-controlling interests of $1.7 million was a $6.8 million improvement compared to Q3 2024 − The decline in pre-tax loss was primarily driven by lower interest expense from the new debt
Slide 7: Growth Opportunities
GROWTH OPPORTUNITIES Initiative Opportunity Summary Status • Currently operating in 18 states • Received 210 renovation referrals1 since program launch in Q2 2024; 48 Renovation: Increase wallet share from referrals1 received in Q3 2025 existing client; launch renovation services • Average contract
Slide 8: Growth Opportunities
GROWTH OPPORTUNITIES Initiative Opportunity Summary Status Grow Foreclosure Trustee: Accelerate the growth of Foreclosure • Recently expanded Trustee coverage into one new state with additional state the trustee business by strengthening the expansion planned for Q4 2025 Trustee sales pipeline and i
Slide 9: Servicer and Real Estate Segment
S E R V I C E R A N D R E A L E S TAT E S E G M E N T Segment Service Revenue Segment Financial Performance (vs. Q3 2024) • Service revenue of $31.2 million increased 3% primarily from the ramp of the Renovation business and growth in the $30.4 $31.4 $32.9 $32.0 $31.2 Foreclosure Trustee, Granite, a
Slide 10: Servicer and Real Estate – Sales Pipeline and Wins
S E R V I C E R A N D R E A L E S TAT E – S A L E S P I P E L I N E A N D W I N S Attractive Sales Pipeline1,2 $30.1 $29.4 $26.1 $25.3 $24.4 Weighted Average Pipeline Estimated Revenue – End of Quarter Q4'23 Q4'24 Q1'25 Q2'25 Q3'25 Strong Sales Cumulative Wins3 $58.4 Wins: $93.3 Estimated Annualized
Slide 11: Origination Segment
O R I G I N AT I O N S E G M E N T Segment Service Revenue Segment Financial Performance (vs. Q3 2024) • Service revenue of $8.5 million increased 9% • Adjusted EBITDA1 of $0.9 million was flat compared to Q3 2024 $8.8 $8.5 $7.8 $7.0 $8.0 • Adjusted EBITDA1 margins declined to 10.3% from 11.7% • Inc
Slide 12: Origination – Sales Pipeline and Wins
O R I G I N AT I O N – S A L E S P I P E L I N E A N D W I N S Attractive Sales Pipeline1,2 $18.0 $14.7 $13.2 $11.9 $13.4 Weighted Average Pipeline Estimated Revenue – End of Quarter Q4'23 Q4'24 Q1'25 Q2'25 Q3'25 Strong Sales Cumulative Wins3 $10.3 $12.6 $4.7 $3.3 $11.2 Wins: $42.0 Estimated Annuali
Slide 13: Corporate and Others Segment
C O R P O R AT E A N D O T H E R S S E G M E N T Corporate Financial Performance (vs. Q3 2024) Corporate and Others Adjusted EBITDA1 Loss • Q3 2025 Corporate Adjusted EBITDA1 loss of $7.3 million was $0.1 million higher than Q3 2024 • We believe that we can maintain relatively stable Corporate segme
Slide 14: Business Environment
BUSINESS ENVIRONMENT Delinquency and Foreclosure Environment Origination Market Environment5 • 90+ day mortgage delinquency rates remain near historic lows at 1.3% in • Mortgage origination unit volume increased 17% for the nine months ended August 2025, compared to a historical low of 1.1% in May 2
Slide 15: Conclusion
C O N C LU S I O N • We are pleased with our third quarter results • We are winning new business and have a strong sales pipeline, while maintaining cost discipline and significantly reducing corporate interest expense • We are focused on accelerating the growth of those businesses that we believe h
Slide 16: Appendix
APPENDIX a, Altisource
Slide 17: Third Quarter Financial Results
T H I R D Q U A R T E R 2 0 2 5 F I N A N C I A L R E S U LT S Vs. Q3 Vs. YTD $ millions (except per share data) Q3 2024 Q3 2025 YTD 2024 YTD 2025 2024 2024 Service revenue $ 38.2 $ 39.7 4% $ 111.9 $ 121.3 8% Revenue 40.5 41.9 3% 119.1 128.6 8% Gross profit 12.1 11.3 (6%) 37.1 37.7 2% Income from op
Slide 18: Operating Metrics
O P E R AT I N G M E T R I C S Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Default Related Services Onity1 Serviced Forward Loan Portfolio2: Service revenue3 per delinquent loan4 per quarter Non-GSE $ 260 $ 241 $ 288 $ 246 $ 275 $ 262 $ 316 $ 331 $ 328 $ 308 $ 380 $
Slide 19: Operating Metrics
O P E R AT I N G M E T R I C S Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Hubzu1: Service revenue (in millions)2 $ 6.7 $ 5.9 $ 7.7 $ 7.1 $ 7.1 $ 5.8 $ 7.1 $ 7.3 $ 6.4 $ 6.0 $ 6.6 $ 6.4 $ 5.7 Number of homes sold on Hubzu: Onity serviced portfolios 3 645 579 599 567
Slide 20: Hubzu Inventory
H U B Z U I N V E N TO R Y Ending Inventory (in 000’s) 6.9 6.3 6.3 6.5 6.2 6.0 6.0 6.2 6.1 6.0 6.2 5.8 5.8 5.9 5.7 5.6 5.7 4.4 3.6 4.1 3.5 3.4 3.6 3.6 4.1 3.8 4.2 3.5 3.4 3.6 3.7 3.3 3.5 3.3 2.4 2.5 2.6 2.7 2.7 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.0 2.2 2.2 2.3 2.3 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23
Slide 21: Non-GAAP Measures
NON-GAAP MEASURES Adjusted operating income, pretax loss attributable to Altisource, adjusted pretax (loss) income attributable to Altisource, adjusted net (loss) income attributable to Altisource, adjusted diluted (loss) earnings per share, EBITDA, Adjusted EBITDA and Segment Adjusted EBITDA are no
Slide 22: Non-GAAP Measures
NON-GAAP MEASURES • Adjusted diluted (loss) earnings per share is calculated by dividing net (loss) income attributable to Altisource after removing intangible asset amortization expense (net of tax), share-based compensation expense (net of tax), cost of cost savings initiatives and other (net of t
Slide 23: Non-GAAP Measures Reconciliation
NON-GAAP MEASURES Reconciliation Q3 2024 Q3 2025 YTD 2024 YTD 2025 ($ in millions except per share data) Income from operations $ 1.1 $ 0.5 $ 2.6 $ 7.0 Intangible asset amortization expense 1.3 1.3 3.8 3.8 Share-based compensation expense 0.9 1.3 3.9 3.1 Cost of cost savings initiatives and other 0.
Slide 24: Non-GAAP Measures Reconciliation
NON-GAAP MEASURES Reconciliation Q3 2024 Q3 2025 YTD 2024 YTD 2025 ($ in millions except per share data) Net (loss) income attributable to Altisource $ (9.4) $ (2.4) $ (26.9) $ 8.8 Intangible asset amortization expense, net of tax 1.3 1.3 3.8 3.8 Share-based compensation expense, net of tax 0.7 1.2
Slide 25: Non-GAAP Measures Reconciliation
NON-GAAP MEASURES Reconciliation Q3 2024 Q3 2025 YTD 2024 YTD 2025 ($ in millions except per share data) Calculation of the impact of intangible asset amortization expense, net of tax Intangible asset amortization expense $ 1.3 $ 1.3 $ 3.8 $ 3.8 Tax benefit from intangible asset amortization - - - -
Slide 26: Non-GAAP Measures Reconciliation
NON-GAAP MEASURES Reconciliation Q3 2024 Q3 2025 YTD 2024 YTD 2025 ($ in millions except per share data) Calculation of the impact of cost of cost savings initiatives and other, net of tax Cost of cost savings initiatives and other $ 0.2 $ 0.3 $ 0.2 $ 0.1 Tax (benefit) provision from cost of cost sa
Slide 27: Non-GAAP Measures Reconciliation
NON-GAAP MEASURES Reconciliation Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 ($ in millions except per share data) Net (loss) income attributable to Altisource $ (9.4) $ (8.8) $ (5.3) $ 16.6 $ (2.4) Income tax provision (benefit) 0.8 0.3 0.7 (16.5) 0.7 1 Interest expense, net of interest income 9.6 9.3
Slide 28: Non-GAAP Measures Reconciliation
NON-GAAP MEASURES Reconciliation Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 ($ in millions except per share data) Servicer and Real Estate: Income before income taxes and non-controlling interests $ 8.9 $ 9.8 $ 10.9 $ 11.3 $ 9.0 1 Interest expense, net of interest income (0.1) (0.1) 0.0 0.0 0.1 Depreci
Slide 29: Non-GAAP Measures Reconciliation
NON-GAAP MEASURES Reconciliation Q3 2024 Q4 2024 hn Q1 2025 hn Q2 2025 Q3 2025 ($ in millions except per share data) Corporate and Others: Loss before income taxes and non-controlling interests $ (17.7) $ (18.2) $ (15.4) $ (11.6) $ (10.3) 1 Interest expense, net of interest income 9.7 9.4 4.7 2.4 2.
Slide 30: Investor Relations Information
I N V E S TO R R E L AT I O N S I N F O R M AT I O N Altisource Portfolio Solutions S.A. is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of ABOUT ALTISOURCE innovative services and technologies, Altisource h
Slide 31: Altisource
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Altisource Portfolio Solutions — Q3 2025 Earnings Presentation on 6ix