Altisource Portfolio Solutions Reports Q2 2026 Earnings Call Results
Altisource Portfolio Solutions S.A. reported a strong performance in its second-quarter earnings call for fiscal year 2026, achieving 19% year-over-year service revenue growth by replacing lost Rithm-related business with new customer wins across both segments. The company reached a milestone where 65% of total service revenue now comes from non-Onity/Rithm customers—the highest diversification since its IPO in 2009. Despite this, adjusted EBITDA margins declined due to the absence of prior-year one-time benefits and increased investments in leadership and staff. The company is deploying a centralized AI model to modernize platforms like Equator and Hubzu, with inventory on Hubzu rising by 30% sequentially—a key indicator for future revenue realization. Looking ahead, management expects flat adjusted EBITDA in Q3 but anticipates growth in Q4 as new sales ramp. The company remains focused on achieving a $45 million run rate of adjusted EBITDA under 'Project 45' by the end of 2028 and is working to stabilize Rithm-related revenue decline.
Tickers: $NVDA
Topics: ai_integration diversification_strategy ebitda_performance revenue_growth