Altisource Portfolio Solutions S.A. Q3 FY2025 earnings call

• Delivered solid third quarter performance with growth in service revenue and improved GAAP earnings, EPS, and cash flow. - Focus on businesses with tailwinds, cost discipline, and lower interest expense. - Servicer and Real Estate: Service revenue grew 3%, adjusted EBITDA up 1% but margins down. Won new business estimating $3.2M annual service revenue, pipeline of $24.4M. - Origination segment: Service revenue up 9%, adjusted EBITDA flat, margins down. Won $11.2M in new sales, pipeline $13.4M. - Corporate segment: Adjusted EBITDA loss slightly higher, but costs expected to be stable as revenue grows. - Discussed business environment: Mortgage delinquency rates low, foreclosure starts and sales increasing, real estate market weakening, origination market trends.

Servicer and Real Estate segment: Third quarter 2025 service revenue was $31.2 million, 3% higher than the third quarter of 2024. Adjusted EBITDA was $10 million, 1% higher than the third quarter of 2024, but margins declined due to revenue mix. Origination segment: Third quarter 2025 service revenue was $8.5 million, 9% higher than the third quarter of 2024. Adjusted EBITDA was $900,000, flat, with margins declining due to product mix. Corporate segment: Adjusted EBITDA loss was $7.3 million, slightly higher than the third quarter of 2024.

• Focus on accelerating growth of businesses with tailwinds in low delinquency environment. - Well positioned to benefit from stronger revenue and adjusted EBITDA growth in countercyclical businesses if delinquencies increase.

• Risks related to forward-looking statements, which involve uncertainties causing actual results to differ. - Factors from 2024 Form 10-K and 2025 Form 10-Q filings that may lead to different results.

Q: On August 18, the company announced customer wins for the Equator platform. Are these customer wins expected to translate to more inventory on Hubzu in the future?

A: Yes, three customers are live loading properties, one in implementation. Cross-selling opportunities with Hubzu and other services expected.