MultiPlan Q1 revenue down 21% YoY to $236.6M; net income falls 99.5% to $0.2M

Claritev Corp

2023-Q1 EPS reported $0.00 revenue$236,594,000

Q1 2023 revenue $236.6M (down 20.6% YoY); net income $0.2M (down 99.5% YoY).
Adjusted EBITDA $156.3M (down 30.7% YoY); free cash flow $41.1M (down from $170.4M).
Repurchased $137.8M face value of 5.75% Senior Unsecured Notes and $5.7M of common stock.
Reaffirmed FY 2023 guidance: revenue $925-975M, Adj EBITDA $600-650M; Q2 rev $220-235M.
Processed $39.7B in claim charges, identified $5.6B potential medical cost savings (up 3% QoQ).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Claritev Corp reported the first quarter ended March 31, 2023 results: revenue $236.6 million, net income $0.2 million. Guidance reaffirmed.

Period: the first quarter ended March 31, 2023
Revenue: $236.6 million
Net income: $0.2 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

– Q1 2023 Revenues of $236.6 million, Net Income of $0.2 million, and Adjusted EBITDA of $156.3 million –

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Source: SEC EDGAR

accession 0001793229-23-000075

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