XML 38 R28.htm IDEA: XBRL DOCUMENT v3.25.1
SEGMENT REPORTING
 3 Months Ended
Mar. 31, 2025
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:
Three months ended March 31, 2025
(in thousands)Servicer and Real EstateOriginationCorporate and OthersConsolidated Altisource
Revenue$35,157 $8,282 $— $43,439 
Cost of revenue21,861 6,690 1,563 30,114 
Gross profit (loss)13,296 1,592 (1,563)13,325 
Selling, general and administrative expenses1
2,340 1,665 6,075 10,080 
Income (loss) from operations10,956 (73)(7,638)3,245 
Other income (expense), net:
Interest income (expense)(33)— (4,905)(4,938)
Debt amendment costs— — (2,980)(2,980)
Other, net2
6 — 138 144 
Total other income (expense), net(27)— (7,747)(7,774)
Income (loss) before income taxes and non-controlling interests$10,929 $(73)$(15,385)$(4,529)
____________________________________________________
1.Servicer and Real Estate and Origination selling, general and administrative expenses include $0.1 million and $0.1 million of other expenses primarily related to bad debt expense and other operating expenses, respectively. Corporate and Others selling, general and administrative expenses include $0.7 million of other expenses primarily related to other operating expenses.
2.Servicer and Real Estate other income is primarily interest income. Corporate and Others other income primarily include other non-operating gains and losses.
 
Three months ended March 31, 2024
(in thousands)Servicer and Real EstateOriginationCorporate and OthersConsolidated Altisource
Revenue$31,502 $7,967 $— $39,469 
Cost of revenue19,132 6,133 1,900 27,165 
Gross profit (loss) 12,370 1,834 (1,900)12,304 
Selling, general and administrative expenses1
3,098 1,959 7,795 12,852 
Income (loss) from operations9,272 (125)(9,695)(548)
Other income (expense), net:
Interest income (expense)— — (9,529)(9,529)
Other, net2
— — 1,642 1,642 
Total other income (expense), net— — (7,887)(7,887)
Income (loss) before income taxes and non-controlling interests$9,272 $(125)$(17,582)$(8,435)
_________________________________________________
1.Servicer and Real Estate and Origination selling, general and administrative expenses include $0.3 million and $0.5 million of other expenses primarily related to bad debt expense and other operating expenses, respectively. Corporate and Others selling, general and administrative expenses include $0.8 million of other expenses primarily related to other operating expenses.
2.Servicer and Real Estate other income is primarily interest income. 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:
March 31, 2025$59,315 $47,344 $39,000 $145,659 
December 31, 202458,000 47,251 38,355 143,606