SEGMENT REPORTING

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

Our business segments are based upon our organizational structure, which focuses primarily on the services offered, and are consistent with the internal reporting used by our Chief Executive Officer (our chief operating decision maker) to evaluate operating performance and to assess the allocation of our resources.

We conduct our operations through two reportable segments: Servicer and Real Estate and Origination. In addition, we report Corporate and Others separately.

The Servicer and Real Estate segment provides loan servicers and real estate investors with solutions and technologies that span the mortgage and real estate lifecycle. The Origination segment provides originators with solutions and technologies that span the mortgage origination lifecycle. Corporate and Others includes interest expense and costs related to corporate functions including executive, infrastructure and certain technology groups, finance, law, compliance, human resources, vendor management, facilities, risk management, and eliminations between reportable segments.

Financial Information

Financial information for our segments is as follows:

	For the year ended December 31, 2023
(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Consolidated Altisource
Revenue	$	115,467	$	29,599	$	—	$	145,066
Cost of revenue	73,746		27,946		13,722		115,414
Gross profit (loss)	41,721		1,653		(13,722)		29,652
Selling, general and administrative expenses	9,622		7,693		29,105		46,420
Income (loss) from operations	32,099		(6,040)		(42,827)		(16,768)
Total other income (expense), net	—		—		(35,580)		(35,580)
Income (loss) before income taxes and non-controlling interests	$	32,099	$	(6,040)	$	(78,407)	$	(52,348)

	For the year ended December 31, 2022
(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Consolidated Altisource
Revenue	$	119,661	$	33,459	$	—	$	153,120
Cost of revenue	81,148		32,052		18,105		131,305
Gross profit (loss)	38,513		1,407		(18,105)		21,815
Selling, general and administrative expenses	12,057		8,825		33,873		54,755
Gain on sale of business	—		—		242		242
Income (loss) from operations	26,456		(7,418)		(52,220)		(33,182)
Total other income (expense), net	4		—		(14,389)		(14,385)
Income (loss) before income taxes and non-controlling interests	$	26,460	$	(7,418)	$	(66,609)	$	(47,567)

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, 2023	$	57,535	$	50,431	$	46,892	$	154,858
December 31, 2022	63,696		53,984		77,588		195,268