Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) announced its financial results for the third quarter of 2026 on October 29, 2026. The company reported a 26% increase in service revenue compared to the same period in 2025, reaching $49.8 million.
Key financial metrics for the third quarter of 2026 included:
- Service Revenue: $49.8 million, up 26% from $39.7 million in Q3 2025.
- Loss Before Taxes: $993 thousand, a decrease of $0.7 million compared to the prior year.
- Net Loss Attributable to Altisource: $1.4 million, an improvement of $1.0 million compared to Q3 2025.
- Diluted Loss Per Share: $(0.12), an improvement of $0.10 compared to the prior year.
- Adjusted Diluted EPS: $0.13, an increase of $0.03 (30%) compared to Q3 2025.
- Adjusted EBITDA: $4.3 million, an increase of $0.6 million (17%) compared to Q3 2025.
Adjusted EBITDA margin for the quarter was 8.5%, down modestly from 9.1% in the prior year due to revenue mix changes and continued investment in growth. The company ended the quarter with $25.1 million in cash and cash equivalents.
Altisource highlighted that revenue from customers outside of Onity and Rithm grew 96% year-over-year and now represents 72% of total service revenue. The company also noted the acceleration of AI initiatives and estimated sales wins representing potential annualized service revenue of $2.7 million for the Servicer and Real Estate segment and $6.3 million for the Origination segment.
Regarding industry trends, Altisource reported that industrywide foreclosure initiations were 20% higher for the eight months ended August 31, 2026, compared to the same period in 2025, while mortgage origination unit volume decreased by 6% for the third quarter of 2026 compared to the prior year.
