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SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of financial information of segments | Financial information for our segments is as follows:
|  | For the year ended December 31, 2024
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Consolidated Altisource
Revenue |  | $ | 128,950 |  |  | $ | 31,184 |  |  | $ | — |  |  | $ | 160,134 |
Cost of revenue |  | 79,631 |  |  | 24,473 |  |  | 6,501 |  |  | 110,605 |
Gross profit (loss) |  | 49,319 |  |  | 6,711 |  |  | (6,501) |  |  | 49,529 |
Selling, general and administrative expenses 1 |  | 11,421 |  |  | 6,584 |  |  | 27,615 |  |  | 45,620 |
Loss on sale of business 2 |  | — |  |  | — |  |  | 685 |  |  | 685 |
Income (loss) from operations |  | 37,898 |  |  | 127 |  |  | (34,801) |  |  | 3,224 |
Other income (expense), net: |  |  |  |  |  |  |  |
Interest income (expense) |  | (30) |  |  | — |  |  | (38,847) |  |  | (38,877) |
Other, net 3 |  | 150 |  |  | — |  |  | 2,636 |  |  | 2,786 |
Total other income (expense), net |  | 120 |  |  | — |  |  | (36,211) |  |  | (36,091) |
Income (loss) before income taxes and non-controlling interests |  | $ | 38,018 |  |  | $ | 127 |  |  | $ | (71,012) |  |  | $ | (32,867) |
1.Servicer and Real Estate and Origination selling, general and administrative expenses include $1.1 million and $1.0 million of other expenses primarily related to bad debt expense and other operating expenses. Corporate and Others selling, general and administrative expenses include $3.1 million of other expenses primarily related to other operating expenses. 2.Loss on sale of business includes a $0.7 million loss in connection with the indemnity escrow from the Pointillist sale. 3.Servicer and Real Estate other income is primarily interest income. Corporate and Others other income primarily include other non-operating gains and losses.
|  | For the year ended December 31, 2023
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Consolidated Altisource
Revenue |  | $ | 115,467 |  |  | $ | 29,599 |  |  | $ | — |  |  | $ | 145,066 |
Cost of revenue |  | 73,746 |  |  | 27,946 |  |  | 13,722 |  |  | 115,414 |
Gross profit (loss) |  | 41,721 |  |  | 1,653 |  |  | (13,722) |  |  | 29,652 |
Selling, general and administrative expenses 1 |  | 9,622 |  |  | 7,693 |  |  | 29,105 |  |  | 46,420 |
Income (loss) from operations |  | 32,099 |  |  | (6,040) |  |  | (42,827) |  |  | (16,768) |
Other income (expense), net |  |  |  |  |  |  |  |
Interest income (expense) |  | — |  |  | — |  |  | (36,103) |  |  | (36,103) |
Change in fair value of warrant liability |  | — |  |  | — |  |  | 1,145 |  |  | 1,145 |
Debt amendment costs |  | — |  |  | — |  |  | (3,410) |  |  | (3,410) |
Other, net 2 |  | — |  |  | — |  |  | 2,788 |  |  | 2,788 |
Total other income (expense), net |  | — |  |  | — |  |  | (35,580) |  |  | (35,580) |
Income (loss) before income taxes and non-controlling interests |  | $ | 32,099 |  |  | $ | (6,040) |  |  | $ | (78,407) |  |  | $ | (52,348) |
1.Servicer and Real Estate and Origination Selling, general and administrative expenses include $0.7 million and $1.4 million of other expenses primarily related to bad debt expense and other operating expenses. Corporate and Others other selling, general and administrative expenses include $2.8 million of other expenses primarily related to other operating expenses. 2.Corporate and Others other income primarily include other non-operating gains and losses. Total Assets Total assets for our segments are as follows:
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Consolidated Altisource
Total assets: |  |  |  |  |  |  |  |
December 31, 2024 |  | $ | 58,000 |  |  | $ | 47,251 |  |  | $ | 38,355 |  |  | $ | 143,606 |
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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