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QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Schedule of unaudited quarterly results The operating results for any quarter are not necessarily indicative of results for any future period. Our business can be affected by seasonality.
2020 quarter ended (1)(2)(3)(4)(5)(6)
(in thousands, except per share data)March 31,June 30,September 30,December 31,
Revenue$121,444 $95,342 $88,795 $59,966 
Gross profit26,863 12,714 16,225 4,551 
Loss before income taxes and non-controlling interests(9,124)(33,747)(11,140)(3,695)
Net loss(11,545)(34,864)(12,897)(7,009)
Net loss attributable to Altisource(11,650)(35,061)(13,237)(7,208)
Loss per share:
Basic$(0.75)$(2.25)$(0.85)$(0.46)
Diluted$(0.75)$(2.25)$(0.85)$(0.46)
Weighted average shares outstanding:
Basic15,497 15,601 15,637 15,657 
Diluted15,497 15,601 15,637 15,657 
2019 quarter ended (1)(2)(3)(4)(5)(7)(8)
(in thousands, except per share data)March 31,June 30,September 30,December 31,
Revenue$169,935 $196,535 $141,493 $140,688 
Gross profit45,720 43,821 30,771 35,083 
(Loss) income before income taxes and non-controlling interests(3,966)11,909 12,955 (8,459)
Net (loss) income(2,744)(4,604)7,576 (306,085)
Net (loss) income attributable to Altisource(3,184)(5,844)7,165 (306,106)
(Loss) earnings per share:
Basic$(0.20)$(0.36)$0.45 $(19.66)
Diluted$(0.20)$(0.36)$0.44 $(19.66)
Weighted average shares outstanding:
Basic16,292 16,214 15,897 15,568 
Diluted16,292 16,214 16,151 15,568 
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(1)    The sum of quarterly amounts, including per share amounts, may not equal amounts reported for year-to-date periods. This is due to the effects of rounding and changes in the number of weighted average shares outstanding for each period.
(2)    The income tax provisions on losses before income taxes and non-controlling interests for each quarter of 2020 were primarily driven by the income in our US and other foreign operations from transfer pricing on services provided to our Luxembourg operating company and no tax benefit on pretax losses from our Luxembourg operating company. During the fourth quarter of 2019, we recognized net income tax provision of $318.3 million, which included an increase in the valuation allowance in connection with the Luxembourg net operating loss carryforward of $291.5 million, the impact of a decrease in the Luxembourg statutory income tax rate on deferred taxes of $1.7 million and foreign income tax reserves of $5.6 million. During the second quarter of 2019, we recognized $12.3 million as a result of the change in the Luxembourg statutory income tax rate on deferred taxes. See Note 22.
(3)    During the first quarter of 2020, second quarter of 2020, third quarter of 2020 and fourth quarter of 2020, we recognized unrealized (losses) gains from our investment in RESI common shares of $(1.3) million, $(11.2) million, $0.1 million and $16.4 million, respectively. During the first quarter of 2019, second quarter of 2019, third quarter of 2019 and fourth quarter of 2019, we recognized unrealized gains (losses) from our investment in RESI common shares of $2.2 million, $11.8 million, $(2.3) million and $2.7 million, respectively. See Note 5.
(4)    In August 2018, we initiated Project Catalyst, a restructuring plan intended to optimize our operations and reduce costs to align our cost structure with our anticipated revenues and improve our operating margins. During the first quarter of 2020,
second quarter of 2020, third quarter of 2020 and fourth quarter of 2020, we recognized $2.9 million, $5.8 million, $2.2 million and $1.1 million, respectively, of severance costs, professional services fees, facility consolidation costs, technology costs and business wind down costs related to the restructuring plan. During the first quarter of 2019, second quarter of 2019, third quarter of 2019 and fourth quarter of 2019, we recognized $4.4 million, $1.9 million, $2.8 million and $5.0 million, respectively, of severance costs, professional services fees, facility consolidation costs, technology costs and business wind down costs related to the restructuring plan. See Note 24.
(5)    In connection with a United States Supreme Court decision in June 2018, we analyzed our services for potential exposure to sales tax in various jurisdictions in the United States and recognized a net loss reimbursement of $(0.6) million and $(2.1) million for the third and fourth quarter of 2020, respectively. In addition, we recognized a net (loss reimbursement) loss of $2.1 million and $(1.7) million in the first and third quarter of 2019, respectively. See Note 25.
(6)    During the third quarter of 2020 we recognized $0.7 million of severance in connection with cost savings initiatives (no comparable amounts in 2019).
(7)    In July 2019, we sold the Financial Services Business to TSI for $44.0 million consisting of an up-front payment of $40.0 million, subject to a working capital adjustment and transaction costs upon closing of the sale, and an additional $4.0 million payment on the one year anniversary of the sale closing. We recognized a $17.6 million pretax gain on sale in the third quarter of 2019 and a working capital true-up gain of an additional $0.3 million in the fourth quarter of 2019. See Note 4.
(8)    In connection with the wind down of Owners.com, we wrote off $5.2 million of goodwill and $0.7 million of intangible assets during the fourth quarter of 2019. In November 2018, we announced our plans to sell the BRS Inventory and discontinue the BRS business. During the second quarter of 2019, we recognized a loss on the sale of the BRS Inventory of $1.8 million. See Note 8.