MultiPlan Q2 2023 revenue $238M (-18% YoY), net loss $36.4M, acquires BST

Claritev Corp

2023-Q2 EPS reported -$0.06 revenue$474,585,000

Q2 2023 revenue $238.0M, down 18% from $290.1M in Q2 2022; net loss $36.4M vs net income $13.5M.
Adjusted EBITDA $152.7M, down from $209.6M in prior-year quarter; Free Cash Flow negative $(24.3)M.
Acquired Benefits Science Technologies on May 8, 2023 for $141.3M cash, adding new Data & Decision Science service line.
Updated FY 2023 guidance: revenue $950M-$980M (includes BST), Adjusted EBITDA $615M-$635M.
Q2 2023 processed $43.1B in claim charges, identifying potential savings of $5.7B; repurchased $7.4M of common stock.

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 financial results for second quarter ended June 30, 2023.

Period: second quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On August 2, 2023, the Company issued a press release announcing its financial results for the second quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001793229-23-000109

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