NASDAQ$ASPS

Altisource Portfolio Sol · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Altisource reported a net loss and a decrease in service revenue compared to the same quarter last year, but saw growth in revenue from customers other than Ocwen, NRZ and RESI.

Altisource reported a net loss attributable to Altisource of $306.1 million, or $(19.66) per diluted share. Service revenue was $132.6 million, a 37% decrease compared to the fourth quarter 2018. The company's adjusted net income attributable to Altisource was $4.1 million, or $0.26 per diluted share.

  • Service revenue of $132.6 million
  • Loss from operations of $(6.5) million
  • Adjusted operating income of $11.3 million
  • Adjusted EBITDA of $15.6 million

Headline financials

Total Revenue

$133M

Previous: $211M-37.2%
EPS (adj)

$0.26

Previous: $0.59-55.9%
Capital Expenditures

$957K

Previous: -$291K+428.9%
Free Cash Flow

$23.5M

Previous: $25M-6.0%
Net Income

-$306M

Previous: -$11.5M-2565.3%
Operating Income

-$6.46M

Previous: $2.03M-418.2%
Gross Profit

$35.1M

Previous: $53.4M-34.4%
Cash & Equivalents

$82.7M

Previous: $58.3M+41.9%
Total Assets

$385M

Previous: $742M-48.1%
Stock-Based Comp

$3.59M

Previous: $4.04M-11.2%

Revenue & EPS history

Altisource · Revenue · Quarterly

$133M

Q4 2019-37.2%vs Q4 2018
Beat estimate in 7 of 16 quarters(44%)
ActualEstimate

Forward guidance

Looking to 2020, Altisource's objectives are to accelerate the growth of their core businesses from customers other than Ocwen and NRZ, lower costs, maintain strong liquidity, and reduce debt based upon business and market conditions. They anticipate growing business from other customers by 25% to 35% in 2020 despite historically low delinquency rates and believe they are in a very strong position to benefit from growing loan originations and a softening economy.

Tailwinds

  • Accelerate the growth of our core businesses from customers other than Ocwen and NRZ
  • Lower costs
  • Maintain strong liquidity
  • Reduce debt based upon business and market conditions
  • Growing business from other customers by 25% to 35% in 2020 despite historically low delinquency rates

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

-0.8%

Avg return

Earnings day

-4.9%

Avg return

5 days after

-4.0%

Avg return

30 days after

41%

27 / 66 earnings

Positive

+28.6%

Q1 2015

Best reaction

-34.1%

Q2 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.6%+3.4%-9.2%
Q4 2025+1.3%-8.0%-4.1%
Q3 2025-0.4%-16.6%-20.5%
Q2 2025-7.6%+3.6%+7.7%
Q1 2025-0.2%-12.0%-14.5%
Q4 2024+18.7%+22.7%+1.3%
Q3 2024-15.8%-11.5%-45.3%
Q2 2024+11.7%+2.3%-6.2%
Q1 2024+15.9%+17.1%+0.6%
Q4 2023-4.1%-9.6%-41.3%
Q3 2023-17.3%-14.5%-2.7%
Q2 2023-17.7%-17.2%-32.7%
Q1 2023+3.0%+13.5%+28.4%
Q4 2022-0.4%-6.9%-19.0%
Q3 2022+8.7%+32.4%+33.0%
Q2 2022-3.5%-0.3%-1.1%
Q1 2022+4.9%+2.3%+5.0%
Q4 2021-8.5%-12.3%-1.4%
Q3 2021-7.5%-6.9%-24.0%
Q2 2021+10.7%+8.9%+25.1%
Q1 2021-5.8%-9.3%+0.1%
Q4 2020-0.4%-1.4%-1.8%
Q3 2020-0.1%+3.2%+17.1%
Q2 2020-34.1%-36.1%-24.0%
Q1 2020-0.2%-12.0%+77.4%
Q4 2019-32.9%-45.6%-55.5%
Q3 2019-16.8%-31.0%-22.2%
Q2 2019-3.5%-2.0%-11.2%
Q1 2019-2.2%+0.3%-5.3%
Q4 2018-0.3%+1.6%-4.3%
Q3 2018+1.6%-0.4%-16.1%
Q2 2018-5.8%-4.9%+5.9%
Q1 2018+5.0%+10.8%+10.0%
Q4 2017-3.4%-2.4%-7.1%
Q3 2017+0.4%+3.2%+9.1%
Q2 2017-2.4%-1.3%-1.3%
Q1 2017-0.4%-7.1%-4.6%
Q4 2016-24.8%-22.9%-7.9%
Q3 2016-12.1%-15.1%-5.7%
Q2 2016-13.3%-15.9%+9.9%
Q1 2016+6.5%
Q4 2015+10.0%
Q3 2015-10.3%
Q2 2015+21.9%
Q1 2015+28.6%
Q4 2014+5.3%
Q3 2014-0.2%
Q2 2014+1.4%
Q1 2014-8.4%
Q4 2013-0.6%
Q3 2013+9.0%
Q2 2013+19.8%
Q1 2013+9.7%
Q4 2012+4.3%
Q3 2012-7.2%
Q2 2012-0.7%
Q1 2012+1.0%
Q1 2011+1.0%
Q4 2009+10.5%
Q4 2011+10.5%
Q3 2011+8.1%
Q3 2010+8.1%
Q2 2011-4.8%
Q4 2010-4.8%
Q2 2010-4.8%
Q1 2010-0.9%

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