Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) Q3 2023 Earnings Call Transcript

And so then it’s just a matter of how long it takes for that increase in foreclosures from the first quarter of 2022 to work its way through the system. I think we’ve been guiding people that it’s typically about 24 months. And in some states, it’s faster, in other states, it’s slower to get through the foreclosure. And then typically, it’s another six months to sell the REO. So those increase in foreclosure initiations typically take about 24 months to get to the sale and another six to the foreclosure auction and another six months to be sold. So we should start to see an increase going into next year from those first quarter of 2022 initiations. In terms of cash flow for next year, Mike, we’re not providing guidance. What I will say is we’re making very good progress improving the earnings for the company.

In the third quarter, I was very pleased to see consistent positive EBITDA each month and EBITDA improve each month. In the fourth quarter, you typically would see, it’s a seasonally slower period. I think our revenue will be roughly in line with where it was in the third quarter, but higher than the fourth quarter of last year. And we think our EBITDA is going to continue to improve, setting us up for a good run rate going into 2024. Are you still there Mike? [ph]. Operator, I’m not sure if there’s any additional questions.

Operator: [Operator Instructions] I am showing no further questions. I would now like to turn the conference over to Bill for final remarks.

Bill Shepro: Yes. Thanks for joining today’s call. We appreciate your support, and we’re very pleased with the progress we’re making in improving the EBITDA at the company and growing our — and strengthening our sales pipeline. Talk to you soon. Thank you.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.