MultiPlan Q3 revenue down 13% to $250.5M; net income falls 75%; slashes FY2022 guidance

Claritev Corp

2022-Q3 EPS reported $0.12 revenue$838,627,000

Q3 revenue $250.5M (down 13.1% YoY); net income $19.7M (down 74.8%); adjusted EBITDA $172.2M (down 21.2%).
FY2022 revenue guidance cut to $1,075-1,090M from $1,160-1,200M; adjusted EBITDA lowered to $765-780M from $850-875M.
Drivers: softer patient utilization and unfavorable mix of medical cost savings; COVID impact estimated at $4-6M revenue.
Free cash flow $88.2M vs $146.6M in Q3 2021, down 40%.
Q4 2022 outlook: revenue $235-250M, adjusted EBITDA $155-170M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Claritev Corp reported quarter ended September 30, 2022 results: revenue $250.5 million, net income $19.7 million. Guidance lowered.

Period: quarter ended September 30, 2022
Revenue: $250.5 million
Net income: $19.7 million
Guidance: lowered
Result: reported results

Exact text from the filing

MultiPlan Reports Third Quarter 2022 Results and Updates 2022 Guidance – Q3 2022 Revenues of $250.5 million, Net Income of $19.7 million, and Adjusted EBITDA of $172.2 million

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Source: SEC EDGAR

accession 0001793229-22-000114

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