SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Revenue by Major Customers by Reporting Segments

During the year ended December 31, 2021, Ocwen was our largest customer. Revenue from Ocwen as a percentage of segment and consolidated revenue was as follows:

	2021		2020
Servicer and Real Estate	49	%	64	%
Origination	—	%	—	%
Corporate and Others	—	%	32	%
Consolidated revenue	31	%	54	%

Disaggregation of revenue

Disaggregation of total revenues by segment and major source is as follows:

	Twelve months ended December 31, 2021
(in thousands)	Revenue recognized when services are performed or assets are sold		Revenue related to technology platforms and professional services		Reimbursable expenses revenue		Total revenue
Servicer and Real Estate	$	98,610	$	9,180	$	5,846	$	113,636
Origination	59,245		42		709		59,996
Corporate and Others	—		4,821		—		4,821
Total revenue	$	157,855	$	14,043	$	6,555	$	178,453

	Twelve months ended December 31, 2020
(in thousands)	Revenue recognized when services are performed or assets are sold		Revenue related to technology platforms and professional services		Reimbursable expenses revenue		Total revenue
Servicer and Real Estate	$	277,792	$	13,797	$	16,138	$	307,727
Origination	54,189		97		147		54,433
Corporate and Others	103		3,284		—		3,387
Total revenue	$	332,084	$	17,178	$	16,285	$	365,547

Schedule of financial information of segments

Financial information for our segments is as follows:

	For the year ended December 31, 2021
(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Consolidated Altisource
Revenue	$	113,636	$	59,996	$	4,821	$	178,453
Cost of revenue	87,427		49,012		34,927		171,366
Gross profit (loss)	26,209		10,984		(30,106)		7,087
Selling, general and administrative expenses	12,557		5,702		48,790		67,049
Gain on sale of businesses	—		—		(88,930)		(88,930)
Income from operations	13,652		5,282		10,034		28,968
Total other income (expense), net	8		—		(13,691)		(13,683)
Income (loss) before income taxes and non-controlling interests	$	13,660	$	5,282	$	(3,657)	$	15,285

	For the year ended December 31, 2020
(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Consolidated Altisource
Revenue	$	307,727	$	54,433	$	3,387	$	365,547
Cost of revenue	206,501		42,839		55,854		305,194
Gross profit (loss)	101,226		11,594		(52,467)		60,353
Selling, general and administrative expenses	26,026		5,823		60,887		92,736
Restructuring charges	1,347		351		10,274		11,972
Income (loss) from operations	73,853		5,420		(123,628)		(44,355)
Total other income (expense), net	8		—		(13,359)		(13,351)
Income (loss) before income taxes and non-controlling interests	$	73,861	$	5,420	$	(136,987)	$	(57,706)

Total Assets

Total assets for our segments are as follows:

(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Consolidated Altisource
Total assets:
December 31, 2021	$	61,832	$	59,741	$	136,235	$	257,808
December 31, 2020	77,478		64,124		124,083		265,685

Summary of changes in goodwill

Changes in goodwill during the years ended December 31, 2021 and 2020 are summarized below:

(in thousands)	Total
Balance as of January 1, 2020 and December 31, 2020	$	73,849
Write-off (1)	(17,889)
Balance as of December 31, 2021	$	55,960

______________________________________

(1)    During 2021, the Company sold its equity interest in Pointillist (See Note 4 for additional information) which had $17.9 million of goodwill attributed to it. The amount of goodwill attributable to Pointillist was based on the relative fair values of Pointillist and the Company excluding Pointillist. Pointillist was determined to be a business within the Company’s existing reporting unit.

Changes in goodwill during the years ended December 31, 2021 and 2020 are summarized below:

(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Total
Balance as of January 1, 2020 and December 31, 2020	$	30,681	$	25,279	$	17,889	$	73,849
Write-off (1)	—		—		(17,889)		(17,889)
Balance as of December 31, 2021	$	30,681	$	25,279	$	—	$	55,960

______________________________________

(1)    During 2021, the Company sold its equity interest in Pointillist (See Note 4 for additional information) which had $17.9 million of goodwill attributed to it. The amount of goodwill attributable to Pointillist was based on the relative fair values of Pointillist and the Company excluding Pointillist. Pointillist was determined to be a business within the Company’s existing reporting unit.