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ASPS Corporate News
Financial Exhibit
New Agreement
Regulated Disclosure
Unregistered Sales February 2023
Financial Exhibit
Regulated Disclosure February 2023
Financial Exhibit
New Agreement
Other Events February 2023
Financial Exhibit
New Agreement
Other Events
Regulated Disclosure February 2023
Earnings Release
Financial Exhibit
New Agreement February 2023
Financial Exhibit
Other Events December 2022
Earnings Release
Financial Exhibit November 2022
Accountant Change August 2022
Earnings Release
Financial Exhibit July 2022
Financial Exhibit
Regulated Disclosure June 2022
Financial Exhibit
New Agreement
Regulated Disclosure
Unregistered Sales
New Agreement
Regulated Disclosure
Unregistered Sales
February 2023
Financial Exhibit
Regulated Disclosure
Regulated Disclosure
February 2023
Financial Exhibit
New Agreement
Other Events
New Agreement
Other Events
February 2023
Financial Exhibit
New Agreement
Other Events
Regulated Disclosure
New Agreement
Other Events
Regulated Disclosure
February 2023
Earnings Release
Financial Exhibit
New Agreement
Financial Exhibit
New Agreement
February 2023
Financial Exhibit
Other Events
Other Events
December 2022
Earnings Release
Financial Exhibit
Financial Exhibit
November 2022
Accountant Change
August 2022
Earnings Release
Financial Exhibit
Financial Exhibit
July 2022
Financial Exhibit
Regulated Disclosure
Regulated Disclosure
June 2022
Last10K.com | 10-K Annual Report Thu Mar 03 2022
Cover - USD ($) | 12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2021 | Feb. 25, 2022 | Jun. 30, 2021 | |
| Cover [Abstract] | |||
| Document Type | 10-K | ||
| Document Annual Report | true | ||
| Current Fiscal Year End Date | --12-31 | ||
| Document Period End Date | Dec. 31, 2021 | ||
| Document Transition Report | false | ||
| Entity File Number | 1-34354 | ||
| Entity Registrant Name | ALTISOURCE PORTFOLIO SOLUTIONS S.A. | ||
| Entity Incorporation, State or Country Code | N4 | ||
| Entity Tax Identification Number | 98-0554932 | ||
| Entity Address, Address Line One | 33, Boulevard Prince Henri | ||
| Entity Address, Postal Zip Code | L-1724 | ||
| Entity Address, City or Town | Luxembourg | ||
| Entity Address, Country | LU | ||
| City Area Code | 352 | ||
| Local Phone Number | 27 61 49 00 | ||
| Title of 12(b) Security | Common Stock, $1.00 par value | ||
| Trading Symbol | ASPS | ||
| Security Exchange Name | NASDAQ | ||
| Entity Well-known Seasoned Issuer | No | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Interactive Data Current | Yes | ||
| Entity Filer Category | Accelerated Filer | ||
| Entity Small Business | true | ||
| Entity Emerging Growth Company | false | ||
| ICFR Auditor Attestation Flag | true | ||
| Entity Shell Company | false | ||
| Entity Public Float | $ 101,710,917 | ||
| Entity Common Stock, Shares Outstanding | 15,936,269 | ||
| Documents Incorporated by Reference | Portions of the registrant’s Definitive Proxy Statement to be filed subsequent to the date hereof with the Securities and Exchange Commission pursuant to Regulation 14A in connection with the registrant’s Annual Meeting of Shareholders to be held on May 17, 2022 are incorporated by reference into Part III of this report. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission not later than 120 days after the conclusion of the registrant’s fiscal year ended December 31, 2021. | ||
| Entity Central Index Key | 0001462418 | ||
| Amendment Flag | false | ||
| Document Fiscal Year Focus | 2021 | ||
| Document Fiscal Period Focus | FY |
View differences made from one year to another to evaluate Altisource Portfolio Solutions S.A.'s financial trajectory
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Altisource Portfolio Solutions S.A.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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Other - Other Highlight
Outstanding amounts borrowed pursuant to the Credit Facility will amortize over the three-year term as follows: on June 22, 2022, the difference between the then outstanding balance above $15.0 million and $15.0 million, will be due and payable by Altisource; on June 22, 2023, the difference between the then outstanding balance above $10.0 million and $10.0 million, will be due and payable by Altisource; and on June 22, 2024, the then outstanding balance of the loan will be due and payable by Altisource.
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Financial - Earnings Highlight
Furthermore, lower margin services generate lower income and cash flows from operations.
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Financial - Debt Highlight
The Credit Facility contains certain events of default including (i) failure to pay principal when due or interest or any other amount owing on any other obligation under the Credit Facility within three business days of becoming due, (ii) failure to perform or observe any material provisions of the Credit Documents to be performed or complied with, (iii) material incorrectness of representations and warranties when made, (iv) default on any other debt that equals or exceeds $40.0 million that causes, or gives the holder or holders of such debt the ability to cause, an acceleration of such debt, (v) entry by a court of one or more judgments against us in an amount in excess of $40.0 million that remain unbonded, undischarged or unstayed for a certain number of days after the entry thereof, (vi) occurrence of a Change of Control, (vii) bankruptcy and insolvency events.
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Financial - Expense Highlight
The decrease was primarily driven by lower compensation and benefits, occupancy related costs and amortization of intangible assets.
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Financial - Expense Highlight
During the year ended December 31, 2020, Altisource incurred $12.0 million of severance costs, professional services fees, facility consolidation costs, technology costs and business wind down costs related to the reorganization plan (no comparative amount for the year ended December 31, 2021).
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Financial - Expense
During the year ended December...Read more
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Other - Other
Identifiable Intangible Assets Identified intangible...Read more
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Financial - Debt
During the year ended December...Read more
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Financial - Cash Flow
Consequently, our cash flows from...Read more
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Financial - Expense
The decreases in occupancy related...Read more
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Financial - Shares
Under the program, we are...Read more
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Financial - Cash Flow
When facts and circumstances indicate...Read more
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Financial - Debt
In addition to the scheduled...Read more
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Financial - Debt
On July 1, 2019, Altisource...Read more
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Financial - Expense
Interest expense decreased primarily due...Read more
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Revenue - Product
Descriptions of our principal revenue...Read more
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Financial - Cash Flow
Operating cash flows can be...Read more
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Financial - Expense
SG&A expenses consist of the...Read more
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Revenue - Product
For foreclosure trustee services, we...Read more
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Financial - Earnings
Principally, we intend to use...Read more
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Financial - Expense
This category also includes professional...Read more
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Financial - Income
The income tax provision for...Read more
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Financial - Income
The income tax provision for...Read more
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Other - Other
Recently Adopted and Future Adoption...Read more
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Other - Other
In addition, depreciation and amortization...Read more
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Other - Other
The decrease in amortization of...Read more
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Financial - Debt
Altisource may incur incremental indebtedness...Read more
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Financial - Income
Income (Loss) from Operations Income...Read more
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Financial - Expense
Finally, we believe the anticipated...Read more
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Other - Other
If any event of default...Read more
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Revenue - Product
We invoice customers based on...Read more
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Financial - Debt
During the years ended December...Read more
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Financial - Expense
The decrease in reimbursable expenses...Read more
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Other - Other
We used $1.4 million and...Read more
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Financial - Cash Flow
Cash Flows from Financing Activities...Read more
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Revenue - Product
However, due to the COVID-19...Read more
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Revenue - Product
Governmental, and in some instances...Read more
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Other - Other
Factors Affecting Comparability The following...Read more
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Legal - Other
As of December 31, 2021,...Read more
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Other - Other
Since the date of the...Read more
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Other - Other
Since the date of the...Read more
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Financial - Expense
Significant judgment is required in...Read more
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Other - Other
For example, Ocwen may be...Read more
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Other - Other
Strategy and Core Businesses We...Read more
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Other - Other
We believe our suite of...Read more
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Other - Other
The decline in foreclosure initiations...Read more
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Revenue - Product
We amortize intangible assets that...Read more
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Other - Other
We determine the useful lives...Read more
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Financial - Earnings
Gross profit decreased to $7.1...Read more
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Other - Other
These impacts were partially offset...Read more
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Other - Other
At the same time, beginning...Read more
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Revenue - Product
However, we are focused on...Read more
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Legal - Other
The Agreement further resolved the...Read more
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Legal - Other
The Agreement further resolved the...Read more
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Financial - Expense
The decreases in reimbursable expense...Read more
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Revenue - Product
After working capital and other...Read more
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Revenue - Product
After working capital and other...Read more
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Revenue - Product
After working capital and other...Read more
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Revenue - Product
Altisource used approximately $20.0 million...Read more
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Revenue - Product
Marketplace For the real estate...Read more
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Financial - Cash Flow
LIQUIDITY AND CAPITAL RESOURCES Liquidity...Read more
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Other - Other
Resolution of these uncertainties in...Read more
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Other - Other
We believe Ocwen commenced using...Read more
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Other - Other
We believe Ocwen commenced using...Read more
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Other - Other
We believe Ocwen commenced using...Read more
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Other - Other
As a result of these...Read more
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Other - Other
Additional regulatory actions or adverse...Read more
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Revenue - Product
For loan disbursement processing services,...Read more
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Financial - Expense
Moreover, in the event one...Read more
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Revenue - Product
During the year ended December...Read more
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Other - Other
Goodwill and Identifiable Intangible Assets...Read more
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Other - Other
We cannot predict the duration...Read more
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Revenue - Product
More specifically, revenues from property...Read more
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Financial - Expense
We recognized reimbursable expense revenue...Read more
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Financial - Cash Flow
We believe that our existing...Read more
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Other - Other
We believe that the transition...Read more
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Other - Other
We believe that the transition...Read more
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Other - Other
We believe that the transition...Read more
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Legal - Other
Luxembourg law limits share repurchases...Read more
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Financial - Shares
Share Repurchase Program On May...Read more
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Revenue - Product
For title insurance services on...Read more
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Other - Other
All amounts outstanding under the...Read more
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Revenue - Product
For SaaS based technology to...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Equity
Consolidated Statements Of Operations And Comprehensive Income (Loss)
Accounts Payable, Accrued Expenses And Other Current Liabilities
Accounts Payable, Accrued Expenses And Other Current Liabilities (Details 2)
Accounts Payable, Accrued Expenses And Other Current Liabilities (Details)
Accounts Payable, Accrued Expenses And Other Current Liabilities (Tables)
Accounts Receivable, Net
Accounts Receivable, Net (Tables)
Accounts Receivable, Net - Schedule Of Accounts Receivable, Net (Details)
Accounts Receivable, Net - Schedule Of Allowance For Doubtful Accounts And Expected Credit Losses (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - Pp&Amp;E Useful Life (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies -Narrative (Details)
Commitments, Contingencies And Regulatory Matters
Commitments, Contingencies And Regulatory Matters (Details)
Commitments, Contingencies And Regulatory Matters (Tables)
Commitments, Contingencies And Regulatory Matters - Lease Activity (Details)
Commitments, Contingencies And Regulatory Matters - Lease Term And Assumption (Details)
Commitments, Contingencies And Regulatory Matters - Maturities Of Operating Lease Liabilities (Details)
Cost Of Revenue
Cost Of Revenue (Details)
Cost Of Revenue (Tables)
Customer Concentration
Customer Concentration (Details)
Discontinuation Of Lines Of Business
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Narrative (Details)
Earnings Per Share - Summary Of Basic And Diluted Loss Per Share (Details)
Fair Value Measurements And Financial Instruments
Fair Value Measurements And Financial Instruments (Details)
Fair Value Measurements And Financial Instruments (Tables)
Fair Value Measurements And Financial Instruments - Narrative (Details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Goodwill (Details)
Goodwill And Intangible Assets, Net - Intangible Assets, Net (Details)
Goodwill And Intangible Assets, Net - Narrative (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Income Before Income Taxes (Details)
Income Taxes - Income Tax (Provision) Benefit (Details)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Luxembourg Statutory Tax Rate To Effective Tax Rate (Details)
Income Taxes - Summary Of Tax Effects Of Temporary Differences (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Investment In Equity Securities
Investment In Equity Securities (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Narrative (Details)
Long-Term Debt - Schedule Of Long-Term Debt (Details)
Long-Term Debt - Schedule Of Maturities Of Long-Term Debt (Details)
Organization
Organization (Details)
Other Assets
Other Assets (Details)
Other Assets (Tables)
Other Income (Expense), Net
Other Income (Expense), Net (Details)
Other Income (Expense), Net (Tables)
Other Non-Current Liabilities
Other Non-Current Liabilities (Details)
Other Non-Current Liabilities (Tables)
Premises And Equipment, Net
Premises And Equipment, Net (Tables)
Premises And Equipment, Net - Narrative (Details)
Premises And Equipment, Net - Summary By Country (Details)
Premises And Equipment, Net - Summary Of Premise And Equipment (Details)
Prepaid Expenses And Other Current Assets
Prepaid Expenses And Other Current Assets (Details)
Prepaid Expenses And Other Current Assets (Tables)
Restructuring Charges
Restructuring Charges (Details)
Revenue
Revenue (Tables)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Narrative (Details)
Revenue - Schedule Of Revenue (Details)
Right-Of-Use Assets Under Operating Leases, Net
Right-Of-Use Assets Under Operating Leases, Net (Tables)
Right-Of-Use Assets Under Operating Leases, Net - Narrative (Details)
Right-Of-Use Assets Under Operating Leases, Net - Summary Of Right-Of-Use Assets (Details)
Sale Of Businesses
Sale Of Businesses (Details)
Schedule Ii. Valuation And Qualifying Accounts
Schedule Ii. Valuation And Qualifying Accounts (Details)
Selling, General And Administrative Expenses
Selling, General And Administrative Expenses (Details)
Selling, General And Administrative Expenses (Tables)
Shareholders' Equity And Share-Based Compensation
Shareholders' Equity And Share-Based Compensation (Tables)
Shareholders' Equity And Share-Based Compensation - Assumptions Used To Determine The Fair Values For Performance-Based Awards (Details)
Shareholders' Equity And Share-Based Compensation - Market-Based Options Vesting Prices (Details)
Shareholders' Equity And Share-Based Compensation - Narrative (Details)
Shareholders' Equity And Share-Based Compensation - Restricted Stock Awards (Details)
Shareholders' Equity And Share-Based Compensation - Stock Option Activity (Details)
Shareholders' Equity And Share-Based Compensation - Stock Option Information (Details)
Shareholders' Equity And Share-Based Compensation - Weighted Average Fair Value Of Stock Options Granted And Total Intrinsic Value Of Stock Options (Details)
Material Contracts, Statements, Certifications & more
Altisource Portfolio Solutions S.A. provided additional information to their SEC Filing as exhibits
Ticker: ASPS
CIK: 1462418
Form Type: 10-K Annual Report
Accession Number: 0001462418-22-000007
Submitted to the SEC: Thu Mar 03 2022 7:03:39 AM EST
Accepted by the SEC: Thu Mar 03 2022
Period: Friday, December 31, 2021
Industry: Miscellaneous Business Services
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