Month: October 2026

Third quarter 2026 Service revenue grew 26% compared to the third quarter 2025

LUXEMBOURG, Oct. 29, 2026 (GLOBE NEWSWIRE) — Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported financial results for the third quarter 2026.

“We are pleased with our third quarter 2026 performance, with year-over-year Service revenue and Adjusted EBITDA growth in both segments. Customer wins continued to ramp, driving a 26% increase in total Company Service revenue, while revenue from customers outside of Onity and Rithm grew 96% year over year and now represents 72% of our Service revenue. Additionally, our AI and other efficiency initiatives began accelerating product development speed and are anticipated to drive scalability and operating leverage over the upcoming quarters,” said William B. Shepro, Chairman and Chief Executive Officer.

Mr. Shepro further commented, “Together, the continued ramp and seasoning of customer wins, greater operating leverage and disciplined cost management represent the core building blocks of Project 45—our objective of reaching $45 million of run-rate Adjusted EBITDA by the fourth quarter of 2028.”

Third Quarter 2026 Highlights⁽²⁾

Company, Corporate and Financial:

• Third quarter Service revenue of $49.8 million was $10.2 million, or 26%, higher than the same quarter of 2025
• Third quarter Loss before income taxes and non-controlling interests of $(993) thousand decreased by $0.7 million compared to the same quarter of 2025
• Third quarter Net loss attributable to Altisource of $(1.4) million improved by $1.0 million compared to the same quarter of 2025
• Third quarter Diluted loss per share of $(0.12) improved by $0.10 compared to the same quarter of 2025
• Third quarter Adjusted diluted earnings per share⁽¹⁾ of $0.13 improved by $0.03, or 30%, compared to the same quarter of 2025
• Third quarter Adjusted earnings before interest, tax, depreciation and amortization (“Adjusted EBITDA”)⁽¹⁾ of $4.3 million was $0.6 million, or 17%, higher than the same quarter of 2025
• Third quarter Adjusted EBITDA⁽¹⁾ margin of 8.5% declined modestly from 9.1% in the same quarter of 2025 from revenue mix changes and continued investment in current and future growth, largely offset by stable corporate costs on growing revenue
• The Company recognized a $1.0 million gain on early extinguishment of debt for the nine months ended September 30, 2026 from second and third quarter 2026 repurchases of $2.0 million and $0.9 million, respectively, of debt under the New Facility, both at a discount of 23.7% (no comparable amount for the nine months ended September 30, 2025)
• Third quarter Cash provided by operating activities of $3.5 million was a $2.8 million increase, compared to the same quarter of 2025, almost all of which was driven by the improvement in net loss attributable to Altisource; we ended the quarter with $25.1 million of cash and cash equivalents

Business and Industry:

• Adjusted EBITDA⁽¹⁾ in the Servicer and Real Estate and Origination segments (together “Business Segments”) was $11.3 million, or 22.8% of Service revenue, compared to $10.9 million, or 27.5% of Service revenue, in the same quarter of 2025 primarily due to increased Service revenue period over period, revenue mix changes and continued investment in current and future growth
• Generated sales wins which we estimate represent potential annualized service revenue on a stabilized basis of $2.7 million for the Servicer and Real Estate segment and $6.3 million for the Origination segment
• Driven by recent sales wins, total Hubzu inventory grew 16% since the second quarter 2026 and more than quadrupled since September 30, 2025

	(in thousands)(6)		September 30, 2025		June 30, 2026		September 30, 2026
	Foreclosure Auction Inventory(5)		4.0		19.3		22.9
	REO Inventory – Customers other than Rithm		0.7		2.6		2.8
	REO Inventory – Rithm		1.0		0.4		0.2
	Total Hubzu Inventory		5.7		22.3		26.0

• Ended the quarter with an estimated weighted average sales pipeline between $27.8 million and $34.7 million of potential estimated annual revenue on a stabilized basis based upon forecasted probability of closing (comprising of between $11.4 million and $14.2 million in the Servicer and Real Estate segment and between $16.4 million and $20.6 million in the Origination segment)
• Industrywide foreclosure initiations were 20% higher for the eight months ended August 31, 2026 compared to the same period in 2025 (although still 6% lower than the same pre-COVID-19 period in 2019)⁽³⁾
• Industrywide foreclosure sales were 17% higher for the eight months ended August 31, 2026 compared to the same period in 2025 (although still 40% lower than the same pre-COVID-19 period in 2019)⁽³⁾
• Industrywide mortgage origination unit volume decreased by 6% for the third quarter 2026 compared to the same period in 2025, comprised of a 5% decrease in purchase origination unit volume and an 8% decrease in refinancing origination unit volume⁽⁴⁾

Third Quarter 2026 Financial Results

• Service revenue of $49.8 million
• Income from operations of $0.8 million
• Loss before income taxes and non-controlling interests of $(993) thousand
• Net loss attributable to Altisource of $(1.4) million
• Adjusted EBITDA⁽¹⁾ of $4.3 million
• Diluted loss per share of $(0.12)
• Adjusted diluted earnings per share⁽¹⁾ of $0.13

Third Quarter 2026 Results Compared to the Third Quarter 2025 (unaudited):

(in thousands, except per share data)	Third Quarter 2026				Third Quarter 2025				% Change		Year-to-Date September 30, 2026				Year-to-Date September 30, 2025				% Change
Service revenue	$	49,847			$	39,666			26		$	143,666			$	121,348			18
Revenue		51,920				41,908			24			150,167				128,635			17
Gross profit		12,124				11,347			7			38,055				37,699			1
Income from operations		764				521			47			3,620				6,997			(48	)
Adjusted operating income(1)		3,845				2,663			44			11,814				13,297			(11	)
Loss before income taxes and non-controlling interests		(993	)			(1,665	)		40			(680	)			(6,007	)		89
Pretax loss attributable to Altisource(1)		(993	)			(1,736	)		43			(831	)			(6,227	)		87
Adjusted pretax income attributable to Altisource(1)		2,088				1,312			59			7,363				4,431			66
Adjusted EBITDA(1)		4,252				3,621			17			13,107				14,265			(8	)
Net (loss) income attributable to Altisource		(1,399	)			(2,396	)		42			(2,596	)			8,842			(129	)
Adjusted net income attributable to Altisource(1)		1,520				1,092			39			5,646				3,115			81
Diluted (loss) earnings per share		(0.12	)			(0.22	)		45			(0.23	)			0.81			(128	)
Adjusted diluted earnings per share(1)		0.13				0.10			30			0.48				0.29			66
Net cash provided by (used in) operating activities		3,482				718			385			1,305				(4,560	)		129
Net cash provided by (used in) operating activities less additions to premises and equipment(1)		2,912				697			318			366				(4,609	)		108
Margins:
Gross profit / service revenue		24	%			29	%					26	%			31	%
Adjusted EBITDA(1)/ service revenue		9	%			9	%					9	%			12	%
N/M – not meaningful

• For the three and nine months ended September 30, 2026, loss before income taxes and non-controlling interests includes $0.3 million and $1.0 million, respectively, of gain on early extinguishment of debt (no comparative amount for the three or nine month period ended September 30, 2025)
• For the three and nine months ended September 30, 2025, loss before income taxes and non-controlling interests includes $0.2 million and $3.6 million, respectively, of Debt Exchange Transaction expenses (no comparative amount for three or nine month period ended September 30, 2026)
• For the nine months ended September 30, 2025, net income attributable to Altisource includes an $18.5 million income tax benefit related to the reversal of a portion of its reserves for uncertain India tax positions and related accrued interest (no comparable amount for the nine months ended September 30, 2026).

________________________

(1)	This is a non-GAAP measure that is defined and reconciled to the corresponding GAAP measure herein
(2)	Applies to the third quarter 2026 unless otherwise indicated
(3)	Based on data from ICE’s Mortgage Monitor and First Look reports with data through August 2026
(4)	Based on estimated number of loans originated as reported by the Mortgage Bankers Association’s Mortgage Finance Forecast dated October 11, 2026
(5)	Altisource does not provide foreclosure auction services to Rithm
(6)	Numbers may not sum due to rounding

Forward-Looking Statements

This press release contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements include all statements that are not historical fact, including statements that relate to, among other things, future events or our future financial / operating performance or financial condition. These statements may be identified by words such as “anticipate,” “intend,” “expect,” “may,” “could,” “should,” “would,” “will,” “plan,” “estimate,” “seek,” “believe,” “potential”, “positioned” or “continue” or the negative of these terms and comparable terminology. Such statements are based on expectations as to the future and are not statements of historical fact. Furthermore, forward-looking statements are not guarantees of future performance and involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, the risks discussed in Item 1A of Part I “Risk Factors” in our Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 4, 2026, our Form 10-Q filed with the SEC on July 23, 2026 and our Form 10-Q filed with the SEC on October 29, 2026. We caution you not to place undue reliance on these forward-looking statements which reflect our view only as of the date of this report. We are under no obligation (and expressly disclaim any obligation) to update or alter any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or change in events, conditions or circumstances on which any such statement is based. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, risks related to customer concentration, impacts to default related referrals occasioned by government, investor or servicer actions, the use and success of our products and services, our ability to retain existing customers and attract new customers and the potential for expansion or changes in our customer relationships, technology disruptions, our compliance with applicable data requirements, our use of third party vendors and contractors, our ability to effectively manage potential conflicts of interest, macro-economic and industry specific conditions, our ability to effectively manage our regulatory and contractual obligations, the adequacy of our financial resources, including our sources of liquidity and ability to repay borrowings and comply with our debt agreements, including the financial and other covenants contained therein, as well as Altisource’s ability to retain key executives or employees, behavior of customers, suppliers and/or competitors, technological developments, governmental regulations, taxes and policies. The financial projections and scenarios contained in this press release are expressly qualified as forward-looking statements and, as with other forward-looking statements, should not be unduly relied upon. We undertake no obligation to update these statements, scenarios and projections as a result of a change in circumstances, new information or future events, except as required by law.

Webcast

Altisource will host a webcast at 08:30 a.m. EDT today to discuss our third quarter. A link to the live audio webcast will be available on Altisource’s website in the Investor Relations section. Those who want to listen to the call should go to the website at least fifteen minutes prior to the call to register, download and install any necessary audio software. A replay of the conference call will be available via the website approximately two hours after the conclusion of the call and will remain available for approximately 30 days.

About Altisource^®

Altisource Portfolio Solutions S.A. is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets it serves. Additional information is available at www.altisource.com.

ALTISOURCE PORTFOLIO SOLUTIONS S.A. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (in thousands, except per share data) (unaudited)
		Three months ended September 30,								Nine months ended September 30,
			2026				2025				2026				2025
Service revenue		$	49,847			$	39,666			$	143,666			$	121,348
Reimbursable expenses			2,073				2,171				6,350				7,067
Non-controlling interests			—				71				151				220
Total revenue			51,920				41,908				150,167				128,635
Cost of revenue			39,796				30,561				112,112				90,936
Gross profit			12,124				11,347				38,055				37,699
Selling, general and administrative expenses			11,360				10,826				34,435				30,702
Income from operations			764				521				3,620				6,997
Other income (expense), net:
Interest expense			(2,157	)			(2,368	)			(6,395	)			(9,921	)
Gain on early extinguishment of debt			312				—				1,008				—
Debt exchange transaction expenses			—				(194	)			—				(3,646	)
Other income (expense), net			88				376				1,087				563
Total other income (expense), net			(1,757	)			(2,186	)			(4,300	)			(13,004	)
Loss before income taxes and non-controlling interests			(993	)			(1,665	)			(680	)			(6,007	)
Income tax (provision) benefit			(406	)			(660	)			(1,765	)			15,069
Net (loss) income			(1,399	)			(2,325	)			(2,445	)			9,062
Net income attributable to non-controlling interests			—				(71	)			(151	)			(220	)
Net (loss) income attributable to Altisource		$	(1,399	)		$	(2,396	)		$	(2,596	)		$	8,842
(Loss) earnings per share:
Basic		$	(0.12	)		$	(0.22	)		$	(0.23	)		$	0.91
Diluted		$	(0.12	)		$	(0.22	)		$	(0.23	)		$	0.81
Weighted average shares outstanding:
Basic			11,422				10,988				11,294				9,755
Diluted			11,422				10,988				11,294				10,890
Comprehensive (loss) income:
Comprehensive (loss) income, net of tax		$	(1,399	)		$	(2,325	)		$	(2,445	)		$	9,062
Comprehensive income attributable to non-controlling interests			—				(71	)			(151	)			(220	)
Comprehensive (loss) income attributable to Altisource		$	(1,399	)		$	(2,396	)		$	(2,596	)		$	8,842

ALTISOURCE PORTFOLIO SOLUTIONS S.A. CONSOLIDATED BALANCE SHEETS (in thousands, except for per share data) (unaudited)
	September 30, 2026				December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$	25,055			$	26,603
Accounts receivable, net of allowance for credit losses of $1,984 and $2,492, respectively		26,670				17,984
Prepaid expenses and other current assets		6,140				9,690
Total current assets		57,865				54,277
Premises and equipment, net		990				253
Right-of-use assets under operating leases		612				1,117
Goodwill		55,960				55,960
Intangible assets, net		12,870				17,085
Deferred tax assets, net		6,218				6,342
Other assets		2,198				4,767
Total assets	$	136,713			$	139,801
LIABILITIES AND DEFICIT
Current liabilities:
Accounts payable and accrued expenses	$	46,296			$	39,595
Current portion of long-term debt		1,225				1,225
Deferred revenue		2,746				3,440
Other current liabilities		1,467				2,805
Total current liabilities		51,734				47,065
Long-term debt		182,681				189,861
Deferred tax liabilities, net		8,648				8,641
Other non-current liabilities		3,534				3,697
Commitments, contingencies and regulatory matters
Deficit:
Common stock ($0.01 par value; 250,000 shares authorized, 11,432 issued and outstanding as of September 30, 2026; 11,021 issued and 10,994 outstanding as of December 31, 2025)		114				110
Additional paid-in capital		259,542				257,359
Accumulated deficit		(370,299	)			(363,735	)
Treasury stock, at cost (27 shares as of December 31, 2025)		—				(3,948	)
Altisource deficit		(110,643	)			(110,214	)
Non-controlling interests		759				751
Total deficit		(109,884	)			(109,463	)
Total liabilities and deficit	$	136,713			$	139,801

ALTISOURCE PORTFOLIO SOLUTIONS S.A. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited)
	Nine months ended September 30,
		2026				2025
Cash flows from operating activities:
Net (loss) income	$	(2,445	)		$	9,062
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization		202				443
Amortization of right-of-use assets under operating leases		885				914
Amortization of intangible assets		4,215				3,810
Share-based compensation expense		3,331				3,066
Bad debt expense		332				125
Amortization of debt premium		(3,572	)			(2,893	)
Amortization of debt discount		318				815
Amortization of debt issuance costs		171				501
Gain on early extinguishment of debt		(1,008	)			—
Deferred income taxes		7				91
Changes in operating assets and liabilities:
Accounts receivable		(9,018	)			(2,494	)
Prepaid expenses and other current assets		3,576				(1,110	)
Other assets		185				2,044
Accounts payable and accrued expenses		6,701				(1,482	)
Current and non-current operating lease liabilities		(922	)			(952	)
Other current and non-current liabilities		(1,653	)			(16,500	)
Net cash provided by (used in) operating activities		1,305				(4,560	)
Cash flows from investing activities:
Additions to premises and equipment		(939	)			(49	)
Other investing activities		—				(250	)
Net cash used in investing activities		(939	)			(299	)
Cash flows from financing activities:
Proceeds from the Super Senior Facility		—				11,250
Proceeds from exercise of cash settle stakeholder warrants		2				15
Debt issuance costs		—				(1,741	)
Repayments and repurchases of long-term debt		(3,089	)			(613	)
Equity issuance costs		(265	)			(3,784	)
Purchase of fractional shares		—				(1	)
Distributions to non-controlling interests		(143	)			(146	)
Payments of tax withholding on vesting of restricted share units and restricted shares		(901	)			(343	)
Net cash (used in) provided by financing activities		(4,396	)			4,637
Net decrease in cash, cash equivalents and restricted cash		(4,030	)			(222	)
Cash, cash equivalents and restricted cash at the beginning of the period		30,493				32,700
Cash, cash equivalents and restricted cash at the end of the period	$	26,463			$	32,478
	Nine months ended September 30,
		2026				2025
Supplemental cash flow information:
Interest paid	$	9,457			$	11,315
Income taxes paid (refunded), net		179				(710	)
Acquisition of right-of-use assets with operating lease liabilities		380				121
Non-cash investing and financing activities:
Equity issued in exchange for debt reduction		—				45,370

ALTISOURCE PORTFOLIO SOLUTIONS S.A.
NON-GAAP MEASURES
(in thousands, except per share data)
(unaudited)

Adjusted operating income, pretax loss attributable to Altisource, adjusted pretax income attributable to Altisource, adjusted net income attributable to Altisource, adjusted diluted earnings per share, Net cash provided by (used in) operating activities less additions to premises and equipment, Adjusted EBITDA, Business Segments Adjusted EBITDA and net debt, which are presented elsewhere in this earnings release, are non-GAAP measures used by management, existing shareholders, potential shareholders and other users of our financial information to measure Altisource’s performance and do not purport to be alternatives to income from operations, loss before income taxes and non-controlling interests, net (loss) income attributable to Altisource, diluted (loss) earnings per share, Net cash provided by (used in) operating activities and long-term debt, including current portion, as measures of Altisource’s performance. We believe these measures are useful to management, existing shareholders, potential shareholders and other users of our financial information in evaluating operating profitability and cash flow generation more on the basis of continuing cost and cash flows as they exclude amortization expense related to acquisitions that occurred in prior periods and non-cash share-based compensation, as well as the effect of more significant non-operational items from earnings, cash flows from operating activities and long-term debt net of cash on-hand. We believe these measures are also useful in evaluating the effectiveness of our operations and underlying business trends in a manner that is consistent with management’s evaluation of business performance. Furthermore, we believe the exclusion of more significant non-operational items enables comparability to prior period performance and trend analysis. Specifically, management uses adjusted net income attributable to Altisource to measure the on-going after tax performance of the Company because the measure adjusts for the after tax impact of more significant non-recurring items, amortization expense relating to prior acquisitions (some of which fluctuates with revenue from certain customers and some of which is amortized on a straight-line basis) and non-cash share-based compensation expense which can fluctuate based on vesting schedules, grant date timing and the value attributable to awards. We believe adjusted net income attributable to Altisource is useful to existing shareholders, potential shareholders and other users of our financial information because it provides an after-tax measure of Altisource’s on-going performance that enables these users to perform trend analysis using comparable data. Management uses adjusted diluted earnings per share to further evaluate adjusted net income attributable to Altisource while taking into account changes in the number of diluted shares over the comparable periods. We believe adjusted diluted earnings per share is useful to existing shareholders, potential shareholders and other users of our financial information because it also enables these users to evaluate adjusted net income attributable to Altisource on a per share basis. Management uses Adjusted EBITDA to measure the Company’s overall performance and Business Segments Adjusted EBITDA to measure the segments overall performance (with the adjustments discussed earlier with regard to adjusted net income attributable to Altisource) without regard to its capitalization (debt vs. equity) or its income taxes and to perform trend analysis of the Company’s performance over time. Our effective income tax rate can vary based on the jurisdictional mix of our income. Additionally, as the Company’s capital expenditures have significantly declined over time, it provides a measure for management to evaluate the Company’s performance without regard to prior capital expenditures. Management also uses Adjusted EBITDA as one of the measures in determining bonus compensation for certain employees. We believe Adjusted EBITDA and Business Segments Adjusted EBITDA are useful to existing shareholders, potential shareholders and other users of our financial information for the same reasons that management finds the measure useful. Management uses net debt in evaluating the amount of debt the Company has that is in excess of cash and cash equivalents. We believe net debt is useful to existing shareholders, potential shareholders and other users of our financial information for the same reasons management finds the measure useful.

Altisource operates in several countries, including Luxembourg, India, the United States and Uruguay. The Company has differing effective tax rates in each country and these rates may change from year to year. In determining the tax effects related to the adjustments in calculating adjusted net (loss) income attributable to Altisource and adjusted diluted earnings per share, we use the tax rate in the country in which the adjustment applies or, if the adjustment is recognized in more than one country, we separate the adjustment by country, apply the relevant tax rate for each country to the applicable adjustment, and then sum the result to arrive at the total adjustment, net of tax. In 2019, the Company recognized a full valuation allowance on its net deferred tax assets in Luxembourg. Accordingly, for 2026 and 2025, the Company has an effective tax rate of close to 0% in Luxembourg.

It is management’s intent to provide non-GAAP financial information to enhance the understanding of Altisource’s GAAP financial information, and it should be considered by the reader in addition to, but not instead of, the financial statements prepared in accordance with GAAP. Each non-GAAP financial measure is presented along with the corresponding GAAP measure so as not to imply that more emphasis should be placed on the non-GAAP measure. The non-GAAP financial information presented may be determined or calculated differently by other companies. The non-GAAP financial information should not be unduly relied upon.

Adjusted operating income is calculated by removing intangible asset amortization expense, share-based compensation expense, cost of cost savings initiatives and other and litigation matter from income from operations. Pretax loss attributable to Altisource is calculated by removing non-controlling interests from loss before income taxes and non-controlling interests. Adjusted pretax income attributable to Altisource is calculated by removing non-controlling interests, intangible asset amortization expense, share-based compensation expense, cost of cost savings initiatives and other, litigation matter and debt exchange transaction expenses from loss before income taxes and non-controlling interests. Adjusted net income attributable to Altisource is calculated by removing intangible asset amortization expense (net of tax), share-based compensation expense (net of tax), cost of cost savings initiatives and other (net of tax), debt exchange transaction expenses (net of tax), litigation matter (net of tax) and certain income tax related items from net (loss) income attributable to Altisource. Adjusted diluted earnings per share is calculated by dividing net (loss) income attributable to Altisource after removing intangible asset amortization expense (net of tax), share-based compensation expense (net of tax), cost of cost savings initiatives and other (net of tax), debt exchange transaction expenses (net of tax), litigation matter (net of tax) and certain income tax related items by the weighted average number of diluted shares. Net cash provided by (used in) operating activities less additions to premises and equipment is calculated by removing additions to premises and equipment from Net cash provided by (used in) operating activities. Adjusted EBITDA is calculated by removing the income tax provision, interest expense (net of interest income), depreciation and amortization, intangible asset amortization expense, share-based compensation expense, cost of cost savings initiatives and other, litigation settlement loss and debt exchange transaction expenses from net (loss) income attributable to Altisource. Business Segments Adjusted EBITDA is calculated by removing non-controlling interests, interest expense (net of interest income), depreciation and amortization, intangible asset amortization expense, share-based compensation expense, cost of cost savings initiatives and other, litigation matter and debt exchange transaction expenses from income before income taxes and non-controlling interests. Net debt is calculated as long-term debt, including current portion, minus cash and cash equivalents.

Reconciliations of the non-GAAP measures to the corresponding GAAP measures are as follows:

	Three months ended September 30,								Nine months ended September 30,
		2026				2025				2026				2025
Income from operations	$	764			$	521			$	3,620			$	6,997
Intangible asset amortization expense		1,368				1,270				4,215				3,810
Share-based compensation expense		896				1,308				3,331				3,066
Cost of cost savings initiatives and other		817				(436	)			1,359				(576	)
Litigation matter		—				—				(711	)			—
Adjusted operating income	$	3,845			$	2,663			$	11,814			$	13,297
Loss before income taxes and non-controlling interests	$	(993	)		$	(1,665	)		$	(680	)		$	(6,007	)
Non-controlling interests		—				(71	)			(151	)			(220	)
Pretax loss attributable to Altisource		(993	)			(1,736	)			(831	)			(6,227	)
Intangible asset amortization expense		1,368				1,270				4,215				3,810
Share-based compensation expense		896				1,308				3,331				3,066
Cost of cost savings initiatives and other		817				276				1,359				136
Litigation matter		—				—				(711	)			—
Debt exchange transaction expenses		—				194				—				3,646
Adjusted pretax income attributable to Altisource	$	2,088			$	1,312			$	7,363			$	4,431
Net (loss) income attributable to Altisource	$	(1,399	)		$	(2,396	)		$	(2,596	)		$	8,842
Income tax provision (benefit)		406				660				1,765				(15,069	)
Interest expense (net of interest income)		2,076				2,229				5,542				9,391
Depreciation and amortization		88				80				202				443
Intangible asset amortization expense		1,368				1,270				4,215				3,810
Share-based compensation expense		896				1,308				3,331				3,066
Cost of cost savings initiatives and other		817				276				1,359				136
Litigation matter		—				—				(711	)			—
Debt exchange transaction expenses		—				194				—				3,646
Adjusted EBITDA	$	4,252			$	3,621			$	13,107			$	14,265
Business Segments:
Income before income taxes and non-controlling interests	$	9,316			$	8,616			$	31,097			$	31,296
Non-controlling interests		—				(71	)			(151	)			(220	)
Depreciation and amortization		50				53				145				207
Intangible asset amortization expense		1,368				1,270				4,215				3,810
Share-based compensation expense		328				242				689				157
Cost of cost savings initiatives and other		271				732				338				863
Litigation matter		—				—				(711	)			—
Interest expense (net of interest income)		9				51				23				97
Business Segments Adjusted EBITDA	$	11,342			$	10,893			$	35,645			$	36,210
Corporate and Others:
Loss before income taxes and non-controlling interests	$	(10,309	)		$	(10,281	)		$	(31,777	)		$	(37,303	)
Depreciation and amortization		38				27				57				236
Share-based compensation expense		568				1,066				2,642				2,909
Cost of cost savings initiatives and other		546				(456	)			1,021				(727	)
Debt exchange transaction expenses		—				194				—				3,646
Interest expense (net of interest income)		2,067				2,178				5,519				9,294
Corporate and Others Adjusted EBITDA	$	(7,090	)		$	(7,272	)		$	(22,538	)		$	(21,945	)
Net (loss) income attributable to Altisource	$	(1,399	)		$	(2,396	)		$	(2,596	)		$	8,842
Intangible asset amortization expense, net of tax		1,329				1,270				4,109				3,810
Share-based compensation expense, net of tax		797				1,207				3,063				2,862
Cost of cost savings initiatives and other, net of tax		651				281				1,034				182
Litigation matter, net of tax		9				—				(547	)			—
Debt exchange transaction expenses, net of tax		—				194				—				3,646
Certain income tax related items		133				536				583				(16,227	)
Adjusted net income attributable to Altisource	$	1,520			$	1,092			$	5,646			$	3,115
Diluted (loss) earnings per share	$	(0.12	)		$	(0.22	)		$	(0.23	)		$	0.81
Impact of using diluted share count instead of basic share count for loss per share		—				—				0.01				—
Intangible asset amortization expense, net of tax, per diluted share		0.11				0.12				0.35				0.35
Share-based compensation expense, net of tax, per diluted share		0.07				0.11				0.26				0.26
Cost of cost savings initiatives and other, net of tax, per diluted share		0.05				0.02				0.09				0.02
Litigation matter, net of tax, per diluted share		—				—				(0.05	)			—
Debt exchange transaction expenses, per diluted share		—				0.02				—				0.33
Certain income tax related items, per diluted share		0.01				0.05				0.05				(1.49	)
Adjusted diluted earnings per share	$	0.13			$	0.10			$	0.48			$	0.29
Calculation of the per share impact of intangible asset amortization expense, net of tax
Intangible asset amortization expense	$	1,368			$	1,270			$	4,215			$	3,810
Tax benefit from intangible asset amortization		(39	)			—				(106	)			—
Intangible asset amortization expense, net of tax		1,329				1,270				4,109				3,810
Diluted share count		11,882				10,988				11,742				10,890
Intangible asset amortization expense, net of tax, per diluted share	$	0.11			$	0.12			$	0.35			$	0.35
Calculation of the per share impact of share-based compensation expense, net of tax
Share-based compensation expense	$	896			$	1,308			$	3,331			$	3,066
Tax (benefit) provision from share-based compensation expense		(99	)			38				(268	)			(103	)
Share-based compensation expense, net of tax		797				1,207				3,063				2,862
Diluted share count		11,882				10,988				11,742				10,890
Share-based compensation expense, net of tax, per diluted share	$	0.07			$	0.11			$	0.26			$	0.26
Calculation of the impact of Litigation matter, net of tax
Litigation matter	$	—			$	—			$	(711	)		$	—
Tax provision from Litigation matter		9				—				164				—
Litigation matter, net of tax		9				—				(547	)			—
Diluted share count		11,882				10,988				11,742				10,890
Litigation matter, net of tax per diluted share	$	—			$	—			$	(0.05	)		$	—
Calculation of the impact of debt exchange transaction expenses, net of tax
Debt exchange transaction expenses	$	—			$	194			$	—			$	3,646
Tax benefit from debt exchange transaction expenses		—				—				—				—
Debt exchange transaction expenses, net of tax		—				194				—				3,646
Diluted share count		11,882				10,988				11,742				10,890
Debt exchange transaction expenses, net of tax per diluted share	$	—			$	0.02			$	—			$	0.33
Calculation of the per share impact of cost of cost savings initiatives and other, net of tax
Cost of cost savings initiatives and other	$	817			$	276			$	1,359			$	136
Tax (benefit) provision from cost of cost savings initiatives and other		(166	)			27				(325	)			41
Cost of cost savings initiatives and other, net of tax		651				281				1,034				182
Diluted share count		11,882				10,988				11,742				10,890
Cost of cost savings initiatives and other, net of tax, per diluted share	$	0.05			$	0.02			$	0.09			$	0.02
Calculation of the per share impact of certain income tax related items resulting from:
Foreign income tax reserves / other	$	—			$	(17,156	)		$	—			$	(16,763	)
Certain income tax related items		133				536				583				(16,227	)
Diluted share count		11,882				10,988				11,742				10,890
Certain income tax related items, per diluted share	$	0.01			$	0.05			$	0.05			$	(1.49	)
Net cash provided by (used in) operating activities	$	3,482			$	718			$	1,305			$	(4,560	)
Less: additions to premises and equipment		(570	)			(21	)			(939	)			(49	)
Net cash provided by (used in) operating activities less additions to premises and equipment	$	2,912			$	697			$	366			$	(4,609	)

	September 30, 2026
Senior secured term loans	$	155,506
Super senior term loan		12,297
Less: Cash and cash equivalents		(25,055	)
Net debt	$	142,748

Note: Amounts may not add to the total due to rounding.

FOR FURTHER INFORMATION CONTACT:

Michelle D. Esterman

Chief Financial Officer

T: (770) 612-7007

E: Michelle.Esterman@altisource.com

MitoCareX considers preliminary, not yet experimentally validated, computational findings encouraging for further computational analysis and experimental investigation

Ness Ziona, Israel, Oct. 29, 2026 (GLOBE NEWSWIRE) — Nexentis Technologies Inc. (NASDAQ: NXTS) (“Nexentis” or the “Company”) recently announced that its wholly owned subsidiary, MitoCareX Bio Ltd. (“MitoCareX”), has completed an initial computational screening stage under its drug-discovery initiative with Boltz, PBC (“Boltz”), an AI research lab focused on biomolecular foundation models and drug-discovery workflows. MitoCareX believes the preliminary computational predictions generated in this stage are encouraging and warrant further computational analysis and experimental validation.

Completion of this stage moves the initiative, announced in June 2026, from launch to an initial assessment of screening predictions. The predictions have not been experimentally validated and serve only as a starting point for evaluating potential follow-up research within MitoCareX’s small-molecule discovery programs.

The initiative combines MitoCareX’s proprietary drug-discovery capabilities with Boltz’s AI models to identify potential small-molecule starting points for selected discovery programs. MitoCareX retains control over its discovery programs and any small-molecule candidates it advances through the initiative.

Further scientific assessment and validation will determine whether the preliminary predictions support advancing any program. No assurance can be given that any compound identified through the initiative will be advanced into preclinical or clinical development.

About MitoCareX Bio Ltd.

MitoCareX Bio Ltd., a wholly owned subsidiary of Nexentis Technologies Inc., is advancing a focused drug-discovery platform designed to translate multidisciplinary scientific capabilities into potential therapeutic candidates. By integrating biology, chemistry and computationally enabled research, MitoCareX supports ongoing research activities directed toward candidate identification and development within its drug-discovery efforts. https://mitocarexbio.com/

About Nexentis Technologies Inc.

Nexentis Technologies Inc. (NASDAQ: NXTS) owns 100% of MitoCareX Bio Ltd., a drug-discovery company. Additionally, Nexentis adopted an investment strategy focused on European renewable energy assets utilizing a RTB (Ready to Build) business model. The Company is currently the lead investor in four solar projects across three European Union countries, all introduced by Solterra Renewable Energy Ltd., a wholly owned subsidiary of Solterra Energy Ltd.

For additional details, please visit https://nexentistech.com/

Forward-looking Statements:

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” “could,” “potential” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the significance of the preliminary computational predictions from the initial screening stage under MitoCareX’s drug-discovery initiative with Boltz; the potential for further computational analysis, experimental investigation and validation of such predictions; the assessment of next research steps and follow-up research opportunities within MitoCareX’s small-molecule discovery programs; the potential identification and advancement of small-molecule starting points or candidates; and the potential contribution of the initiative to MitoCareX’s broader discovery strategy. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause the Company’s and its subsidiaries’ actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause actual results, performance or achievements to differ materially from those anticipated in these forward-looking statements include, among other things, market and other conditions; our history of losses, our need for additional capital to fund our operations and our potential inability to obtain additional capital on acceptable terms, or at all; uncertainties of cash flows and inability to meet working capital needs; the risk that computational or AI-generated predictions may not be confirmed by experimental testing or may not identify viable candidates; our dependence on third-party collaborators, including Boltz, and their technologies; the initiation, timing, progress and results of our preclinical studies, clinical trials and other product candidate development efforts; our ability to advance our product candidates into clinical trials or to successfully complete our preclinical studies or clinical trials; our receipt of regulatory approvals for our product candidates, and the timing of other regulatory filings and approvals; the clinical development, commercialization and market acceptance of our product candidates; our ability to establish and maintain strategic partnerships and other corporate collaborations; the implementation of our business model and strategic plans for our business and product candidates, including our renewable energy investments; the scope of protection we are able to establish and maintain for intellectual property rights covering our product candidates and our ability to operate our business without infringing the intellectual property rights of others; competitive companies, technologies and our industry; risks related to not satisfying the continued listing requirements of the Nasdaq Capital Market; and the impact of the political and security situation in Israel on our business. More information on these risks, uncertainties and other factors is included from time to time in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on March 31, 2026, and other public reports filed with the SEC. Except as otherwise required by law, we undertake no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. We are not responsible for the contents of third-party websites.

Investor Relations Contact:
Michal Efraty
michal@efraty.com