MultiPlan Q3 2023 revenue $242.8M, net loss $24.1M; FY guidance tightened

Claritev Corp

2023-Q3 EPS reported -$0.09 revenue$717,389,000

Q3 2023 revenue $242.8M (-3.1% YoY); net loss $24.1M vs net income $19.7M in Q3 2022.
Adjusted EBITDA $152.3M; Free Cash Flow $49.7M, down from $88.2M prior year.
Repurchased $46.1M face value of 5.75% Senior Unsecured Notes in open market during Q3.
FY 2023 guidance updated: revenue $960-970M (from $950-980M), Adjusted EBITDA $615-625M (from $615-635M).
Identified ~$5.8B in potential medical cost savings in Q3, up 7% YoY.

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 Full Year 2023 results: revenue $960 million to $970 million. Guidance reaffirmed.

Period: Full Year 2023
Revenue: $960 million to $970 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

as detailed in the table below. All other guidance items remain unchanged. Financial Metric Prior FY 2023 Guidance Revised FY 2023 Guidance Revenues $950 million to $980 million $960 million to $970 million Adjusted EBITDA 1 $615 million to $635 million $615 million to $625 million Interest expense $325 million to $335 million Cash flow from operations 2 $160 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Claritev Corp reported the third quarter ended September 30, 2023 results: revenue $242.8 million, net income Net loss of $24.1 million. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $242.8 million
Net income: Net loss of $24.1 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Act, regardless of any general incorporation language in such filings. --- EX-99.1 (EX-99.1) --- RELEASE MultiPlan Reports Third Quarter 2023 Results – Q3 2023 Revenues of $242.8 million, Net Loss of $24.1 million, and Adjusted EBITDA of $152.3 million – Identified potential medical cost savings of approximately $5.8 billion in Q3 2023, up 2% from Q2 2023 and up

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Source: SEC EDGAR

accession 0001793229-23-000119

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