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SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
Our business segments are based upon our organizational structure, which focuses primarily on the services offered, and are consistent with the internal reporting used by our Chief Executive Officer (our chief operating decision maker) to evaluate operating performance and to assess the allocation of our resources.
We conduct our operations through two reportable segments: Servicer and Real Estate and Origination. In addition, we report Corporate and Others separately.
The Servicer and Real Estate segment provides loan servicers and real estate investors with solutions and technologies that span the mortgage and real estate lifecycle. The Origination segment provides originators with solutions and technologies that span the mortgage origination lifecycle. Corporate and Others includes interest expense and costs related to corporate functions including executive, infrastructure and certain technology groups, finance, law, compliance, human resources, vendor management, facilities, risk management, and eliminations between reportable segments.
Income (loss) before income taxes and non-controlling interests is the measure of segment profit and loss that is determined in accordance with the measurement principles used in measuring the corresponding amounts in the consolidated financial statements and used by the chief operating decision maker to evaluate segment results.
Financial Information
Financial information for our segments is as follows:
 
For the year ended December 31, 2024
(in thousands)Servicer and Real EstateOriginationCorporate and OthersConsolidated Altisource
Revenue$128,950 $31,184 $— $160,134 
Cost of revenue79,631 24,473 6,501 110,605 
Gross profit (loss) 49,319 6,711 (6,501)49,529 
Selling, general and administrative expenses1
11,421 6,584 27,615 45,620 
Loss on sale of business2
— — 685 685 
Income (loss) from operations37,898 127 (34,801)3,224 
Other income (expense), net:
Interest income (expense)(30)— (38,847)(38,877)
Other, net3
150 — 2,636 2,786 
Total other income (expense), net120 — (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 EstateOriginationCorporate and OthersConsolidated Altisource
Revenue$115,467 $29,599 $— $145,066 
Cost of revenue73,746 27,946 13,722 115,414 
Gross profit (loss) 41,721 1,653 (13,722)29,652 
Selling, general and administrative expenses1
9,622 7,693 29,105 46,420 
Income (loss) from operations32,099 (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, net2
— — 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 EstateOriginationCorporate and OthersConsolidated Altisource
Total assets:
December 31, 2024$58,000 $47,251 $38,355 $143,606 
December 31, 202357,535 50,431 46,892 154,858