secwatch.observer — SEC 8-K summary
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Issuer:     Claritev Corp (CTEV)
CIK:        0001793229
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001793229-24-000075
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MultiPlan Q1 revenue $234.5M (-0.9% YoY); net loss $539.7M on $519.1M goodwill impairment
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- Revenue $234.5M vs $236.6M in Q1 2023, just below guided range due to $5-6M cyber incident impact.
- Net loss $539.7M vs net income $0.2M; includes $519.1M goodwill and intangible impairment.
- Adjusted EBITDA $146.8M, down 6.1% from $156.3M; Free Cash Flow $19.2M vs $41.1M.
- FY 2024 guidance maintained: revenue $1,000-1,030M, Adj EBITDA $630-650M; Q2 revenue guided $235-250M.
- Used $18.2M cash to repay $24.4M face value of debt; $10.4M share repurchases in open market.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1793229/000179322924000075/0001793229-24-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1793229/000179322924000075/mpln-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001793229-24-000075

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