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SEGMENT REPORTING (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of Financial Information of Segments | Financial Information Financial information for our segments is as follows:
|  | Three months ended September 30, 2024
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Consolidated Altisource
Revenue |  | $ | 32,549 |  |  | $ | 7,982 |  |  | $ | — |  |  | $ | 40,531 |
Cost of revenue |  | 20,509 |  |  | 6,312 |  |  | 1,640 |  |  | 28,461 |
Gross profit (loss) |  | 12,040 |  |  | 1,670 |  |  | (1,640) |  |  | 12,070 |
Selling, general and administrative expenses |  | 3,194 |  |  | 1,325 |  |  | 6,446 |  |  | 10,965 |
Income (loss) from operations |  | 8,846 |  |  | 345 |  |  | (8,086) |  |  | 1,105 |
Total other income (expense), net |  | 62 |  |  | — |  |  | (9,660) |  |  | (9,598) |
Income (loss) before income taxes and non-controlling interests |  | $ | 8,908 |  |  | $ | 345 |  |  | $ | (17,746) |  |  | $ | (8,493) |
|  | Three months ended September 30, 2023
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Consolidated Altisource
Revenue |  | $ | 28,702 |  |  | $ | 7,511 |  |  | $ | — |  |  | $ | 36,213 |
Cost of revenue |  | 18,312 |  |  | 7,151 |  |  | 3,561 |  |  | 29,024 |
Gross profit (loss) |  | 10,390 |  |  | 360 |  |  | (3,561) |  |  | 7,189 |
Selling, general and administrative expenses |  | 1,966 |  |  | 1,797 |  |  | 6,971 |  |  | 10,734 |
Income (loss) from operations |  | 8,424 |  |  | (1,437) |  |  | (10,532) |  |  | (3,545) |
Total other income (expense), net |  | — |  |  | — |  |  | (7,317) |  |  | (7,317) |
Income (loss) before income taxes and non-controlling interests |  | $ | 8,424 |  |  | $ | (1,437) |  |  | $ | (17,849) |  |  | $ | (10,862) |
|  | Nine months ended September 30, 2024
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Consolidated Altisource
Revenue |  | $ | 95,175 |  |  | $ | 23,946 |  |  | $ | — |  |  | $ | 119,121 |
Cost of revenue |  | 58,357 |  |  | 18,801 |  |  | 4,872 |  |  | 82,030 |
Gross profit (loss) |  | 36,818 |  |  | 5,145 |  |  | (4,872) |  |  | 37,091 |
Selling, general and administrative expenses |  | 8,687 |  |  | 5,030 |  |  | 20,734 |  |  | 34,451 |
Income (loss) from operations |  | 28,131 |  |  | 115 |  |  | (25,606) |  |  | 2,640 |
Total other income (expense), net |  | 61 |  |  | — |  |  | (27,195) |  |  | (27,134) |
Income (loss) before income taxes and non-controlling interests |  | $ | 28,192 |  |  | $ | 115 |  |  | $ | (52,801) |  |  | $ | (24,494) |
|  | Nine months ended September 30, 2023
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Consolidated Altisource
Revenue |  | $ | 87,495 |  |  | $ | 23,414 |  |  | $ | — |  |  | $ | 110,909 |
Cost of revenue |  | 56,075 |  |  | 22,623 |  |  | 10,986 |  |  | 89,684 |
Gross profit (loss) |  | 31,420 |  |  | 791 |  |  | (10,986) |  |  | 21,225 |
Selling, general and administrative expenses |  | 6,905 |  |  | 5,873 |  |  | 22,391 |  |  | 35,169 |
Income (loss) from operations |  | 24,515 |  |  | (5,082) |  |  | (33,377) |  |  | (13,944) |
Total other income (expense), net |  | — |  |  | — |  |  | (26,454) |  |  | (26,454) |
Income (loss) before income taxes and non-controlling interests |  | $ | 24,515 |  |  | $ | (5,082) |  |  | $ | (59,831) |  |  | $ | (40,398) |
Total Assets Total assets for our segments are as follows:
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Consolidated Altisource
Total assets: |  |  |  |  |  |  |  |
September 30, 2024 |  | $ | 56,465 |  |  | $ | 48,342 |  |  | $ | 39,696 |  |  | $ | 144,503 |
December 31, 2023 |  | 57,535 |  |  | 50,431 |  |  | 46,892 |  |  | 154,858 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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