SEGMENT REPORTING

3 Months Ended

Mar. 31, 2024

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:

	Three months ended March 31, 2024
(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Consolidated Altisource
Revenue	$	31,502	$	7,967	$	—	$	39,469
Cost of revenue	19,132		6,133		1,900		27,165
Gross profit (loss)	12,370		1,834		(1,900)		12,304
Selling, general and administrative expenses	3,098		1,959		7,795		12,852
Income (loss) from operations	9,272		(125)		(9,695)		(548)
Total other income (expense), net	—		—		(7,887)		(7,887)
Income (loss) before income taxes and non-controlling interests	$	9,272	$	(125)	$	(17,582)	$	(8,435)

	Three months ended March 31, 2023
(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Consolidated Altisource
Revenue	$	31,945	$	7,516	$	—	$	39,461
Cost of revenue	19,725		7,454		3,778		30,957
Gross profit (loss)	12,220		62		(3,778)		8,504
Selling, general and administrative expenses	2,301		1,726		8,067		12,094
Income (loss) from operations	9,919		(1,664)		(11,845)		(3,590)
Total other income (expense), net	—		—		(7,748)		(7,748)
Income (loss) before income taxes and non-controlling interests	$	9,919	$	(1,664)	$	(19,593)	$	(11,338)

Total Assets

Total assets for our segments are as follows:

(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Consolidated Altisource
Total assets:
March 31, 2024	$	56,428	$	49,693	$	42,747	$	148,868
December 31, 2023	57,535		50,431		46,892		154,858