Altisource Sees Growth in 2024 Despite Market Challenges

$ASPS

Altisource (NASDAQ: ASPS), a provider of real estate and mortgage services, reported financial results for 2024. The company grew its total service revenue by 10%, reaching $150.4 million, up from $136.5 million in 2023. In the fourth quarter alone, revenue rose by 19% year-over-year. Altisource also improved its earnings before interest, taxes, and other adjustments—known as Adjusted EBITDA—by $18.3 million, reaching $17.4 million.

Its CEO, William B. Shepro, credited these results to the company’s long-term strategy and operational improvements. A key milestone in early 2025 was a successful financial deal with lenders, which helped reduce company debt and lower interest costs. This move strengthened Altisource’s financial position and supported its ongoing efforts to expand and adapt to a changing market.

The company expects continued growth in 2025, projecting service revenue between $165 million and $185 million. It also anticipates Adjusted EBITDA to grow to between $18 million and $23 million. Altisource’s core business areas—real estate and loan servicing—both reported revenue increases, showing that its strategy is working across multiple parts of the company.

Altisource also reduced its annual net loss in 2024 to $35.6 million, down from $56.3 million the year before. While the real estate and mortgage industries still face some uncertainty, including changes in foreclosure rates, the company is staying focused on efficiency and growth. With a foundation and a clear plan for the future, Altisource is aiming to build on its progress and continue improving in 2025.

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