secwatch.observer — SEC 8-K summary
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Issuer:     Claritev Corp (CTEV)
CIK:        0001793229
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001793229-23-000075
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1793229/000179322923000075/0001793229-23-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1793229/000179322923000075/mpln-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001793229-23-000075

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer