Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39228 CLARITEV CORPORATION (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdicti ...

Financial Performance - Q3 2025 revenues reached $246.0 million, a 6.7% increase from $230.5 million in Q3 2024[7] - Net loss for Q3 2025 was $69.8 million, significantly improved from a net loss of $391.5 million in Q3 2024[8] - Adjusted EBITDA for Q3 2025 was $155.1 million, up 9.5% from $141.6 million in Q3 2024, with an Adjusted EBITDA margin of 63.1%[8] - Revenues for the three months ended September 30, 2025, were $245,959,000, representing an increase of 6.36% compared to $230,495,000 for the same period in 2024[29] - Operating income for the three months ended September 30, 2025, was $10,067,000, a significant improvement from a loss of $338,210,000 in the same period of 2024[29] - Net loss for the nine months ended September 30, 2025, was $203,712,000, a reduction from a net loss of $1,507,866,000 for the same period in 2024[31] - The company reported a comprehensive loss of $68,959,000 for the three months ended September 30, 2025, compared to a comprehensive loss of $402,791,000 for the same period in 2024[29] - Net loss for Q3 2025 was $69.753 million, a significant improvement from a loss of $391.450 million in Q3 2024[33] Cash Flow and Assets - Free Cash Flow for Q3 2025 was $(16.3) million, compared to $41.1 million in Q3 2024[8] - The company ended Q3 2025 with $39.2 million in unrestricted cash and cash equivalents[8] - Cash and cash equivalents at the end of the period were $39,152,000, compared to $16,848,000 at the end of 2024, indicating a substantial increase of 132.00%[26] - The company had a net cash provided by operating activities of $51,038,000 for the nine months ended September 30, 2025, down from $141,029,000 for the same period in 2024[31] - Net cash provided by operating activities for Q3 2025 was $19.857 million, down from $72.842 million in Q3 2024[35] Guidance and Projections - Claritev raised its full-year 2025 revenue guidance to a growth range of 2.8% to 3.2% from FY 2024[9] - Adjusted EBITDA margin guidance for FY 2025 was updated to a range of 62.5% to 63.0%[9] Client and Market Developments - Claritev renewed contracts with its top ten clients, with multi-year renewals from its largest clients[5] - The international business continues to expand, representing a significant growth opportunity for the company[5] Expenses and Liabilities - General and administrative expenses for the three months ended September 30, 2025, were $61,893,000, up from $37,725,000 in the same period of 2024, marking a rise of 64.00%[29] - Total current assets increased to $257,458,000 as of September 30, 2025, compared to $175,515,000 as of December 31, 2024, reflecting a growth of 46.67%[26] - Total liabilities as of September 30, 2025, were $5,092,136,000, slightly up from $5,066,805,000 as of December 31, 2024[26] Other Financial Metrics - Unlevered Free Cash Flow for Q3 2025 was $113.201 million, up from $101.337 million in Q3 2024, indicating a 1.7% increase[35] - Interest expense for Q3 2025 increased to $101.232 million from $81.792 million in Q3 2024, representing a 23.5% rise[33] - Adjusted Cash Conversion Ratio for Q3 2025 was 73%, slightly up from 72% in Q3 2024[35] - Total depreciation for the nine months ended September 30, 2025, was $75.775 million, compared to $65.372 million for the same period in 2024[33] - Integration expenses for Q3 2025 were $66, down from $850 in Q3 2024, indicating a reduction in costs associated with integration efforts[33] - The company reported a significant loss on impairment of goodwill and intangible assets amounting to $1.434 billion for the nine months ended September 30, 2024[33]

Part I. Financial Information [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) For the first six months of 2025, the company reported slightly increased revenue and a significantly reduced net loss due to the absence of prior-year impairment charges, alongside a major debt refinancing that restructured its debt and impacted cash flows [Unaudited Condensed Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets slightly decreased to **$5.07 billion**, total liabilities increased to **$5.11 billion**, and shareholders' equity shifted to a **$39.9 million** deficit from **$84.0 million** equity at year-end 2024, primarily due to net loss and debt refinancing Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $247,138 | $175,515 | | Cash and cash equivalents | $56,390 | $16,848 | | **Total Assets** | **$5,071,980** | **$5,150,827** | | **Total Current Liabilities** | $253,142 | $213,790 | | **Total Liabilities** | **$5,111,888** | **$5,066,805** | | **Total Shareholders' Equity (Deficit)** | **($39,908)** | **$84,022** | [Unaudited Condensed Consolidated Statements of Loss and Comprehensive Loss](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Loss%20and%20Comprehensive%20Loss) For Q2 2025, revenues slightly increased to **$241.6 million**, and the company reported a significantly improved net loss of **$62.6 million** (or **$3.81 per share**) compared to **$576.7 million** in Q2 2024, primarily due to the absence of a **$553.7 million** goodwill impairment charge Statement of Loss Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | $241,570 | $233,476 | $472,900 | $467,984 | | **Operating Income (Loss)** | $16,578 | ($523,927) | $26,320 | ($1,010,363) | | Loss on impairment | $0 | $553,701 | $0 | $1,072,751 | | **Net Loss** | **($62,640)** | **($576,727)** | **($133,959)** | **($1,116,416)** | | **Net Loss Per Share** | **($3.81)** | **($35.78)** | **($8.19)** | **($69.18)** | [Unaudited Condensed Consolidated Statements of Shareholders' Equity](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Shareholders%27%20Equity) Shareholders' equity transitioned from **$84.0 million** at year-end 2024 to a **$39.9 million** deficit as of June 30, 2025, primarily due to the **$134.0 million** net loss for the six-month period - The company's retained deficit increased from **$(2,145.1) million** at the end of 2024 to **$(2,279.1) million** at June 30, 2025, due to the net loss incurred during the first half of the year[21](index=21&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash from operating activities decreased to **$31.2 million**, investing activities used **$63.5 million**, and financing activities provided **$69.9 million**, a significant reversal from the prior year, largely due to **$130 million** in new borrowings Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $31,181 | $68,187 | | **Net Cash used in Investing Activities** | ($63,489) | ($55,989) | | **Net Cash from (used in) Financing Activities** | $69,924 | ($34,523) | | **Net Change in Cash** | $37,616 | ($22,325) | [Notes to Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail significant corporate actions, including the company's name change to Claritev Corporation, a 1-for-40 reverse stock split in 2024, a major debt refinancing in January 2025, and disclosures on revenue, goodwill (with no impairments in 2025), derivatives, and ongoing legal matters - On February 17, 2025, the company changed its name from "MultiPlan Corporation" to "**Claritev Corporation**" and its ticker symbol to "**CTEV**"[26](index=26&type=chunk) - A **one-for-forty (1-for-40) reverse stock split** of its Class A common stock became effective on **September 20, 2024**. All share and per-share data have been retroactively adjusted[29](index=29&type=chunk)[30](index=30&type=chunk) - In **January 2025**, the company completed a major **Refinancing Transaction**, exchanging existing notes and term loans for new first lien term loans and notes with extended maturities, and establishing a new **$350 million revolving credit facility**[56](index=56&type=chunk) - The company recorded **no goodwill impairment in the first six months of 2025**, compared to a significant impairment loss of **$1,072.8 million** in the same period of 2024[42](index=42&type=chunk)[75](index=75&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reported a **1.1%** revenue increase for the first six months of 2025, driven by Network-Based and Payment and Revenue Integrity Services, with a significantly narrowed net loss due to the absence of 2024 impairment charges, while a January 2025 debt refinancing extended maturities and Adjusted EBITDA slightly increased to **$296.1 million** - The company initiated its first international expansion into the **Middle East and North Africa (MENA) region** through a strategic partnership with Claims Care Revenue Cycle Management LLC[98](index=98&type=chunk) Revenue by Service Line (in thousands) | Service Line | Six Months 2025 | Six Months 2024 | Change % | | :--- | :--- | :--- | :--- | | Network-Based Services | $101,015 | $91,878 | +9.9% | | Analytics-Based Services | $310,396 | $319,988 | -3.0% | | Payment and Revenue Integrity | $61,489 | $56,118 | +9.6% | | **Total Revenues** | **$472,900** | **$467,984** | **+1.1%** | Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Metric | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | | Net loss | ($133,959) | ($1,116,416) | | Adjustments | $430,056 | $1,409,876 | | **Adjusted EBITDA** | **$296,097** | **$293,460** | - General and administrative expenses increased by **49.2%** for the six months ended June 30, 2025, primarily due to **$15.7 million** in transformation costs and **$5.5 million** in losses on asset disposals[143](index=143&type=chunk) - As of June 30, 2025, the company had **$67.3 million** in cash and cash equivalents (including restricted cash) and **$263.6 million** of availability under its revolving credit facility[154](index=154&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that as of June 30, 2025, there have been no material changes in the market risks it faces compared to those described in its 2024 Annual Report - There were no material changes in the market risks described in the company's 2024 Annual Report as of June 30, 2025[188](index=188&type=chunk) [Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, noting the implementation of a new enterprise resource planning (ERP) system during the quarter, which led to new and modified internal controls - The principal executive and financial officers concluded that disclosure controls and procedures were effective as of June 30, 2025[190](index=190&type=chunk) - During the second quarter of 2025, the company completed the implementation of a **new enterprise resource planning (ERP) system**, resulting in changes to its internal control over financial reporting[191](index=191&type=chunk) Part II - Other Information [Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings arising from the ordinary course of business, which management does not expect to have a material adverse effect on its financial condition or operations - The company is a defendant in various lawsuits and regulatory investigations arising from the ordinary course of business but does not expect them to have a material adverse effect[194](index=194&type=chunk) [Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) While no material changes occurred to overall risk factors from the 2024 Annual Report, new risks emerged from international expansion, including challenges in managing foreign operations, complying with international laws, and increased susceptibility to global economic and political events - The company faces **new risks associated with its international business expansion**, including managing foreign operations, complying with international laws, and dealing with political or economic instability in foreign countries[201](index=201&type=chunk)[206](index=206&type=chunk) - As the company expands its international footprint, it becomes more susceptible to global events beyond its control, such as changes in trade policy, military conflict, and public health crises[203](index=203&type=chunk) [Other Information](index=48&type=section&id=Item%205.%20Other%20Information) During the second quarter of 2025, no officers or directors of the company adopted or terminated any Rule 10b5-1 trading plans for the purchase or sale of company securities - **No officers or directors adopted or terminated any Rule 10b5-1(c) trading arrangements** during the three months ended June 30, 2025[208](index=208&type=chunk) [Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including certifications by the Principal Executive Officer and Principal Financial Officer as required by the Sarbanes-Oxley Act of 2002, and financial statements in Inline XBRL format - The report includes certifications from the CEO and CFO pursuant to **Sections 302 and 906 of the Sarbanes-Oxley Act of 2002**[208](index=208&type=chunk)

[Executive Summary](index=1&type=section&id=Executive%20Summary) Claritev's CEO highlighted a return to growth in Q2 2025, supported by strong financial results including increased revenues and significantly reduced net loss [CEO Commentary](index=1&type=section&id=CEO%20Commentary) Claritev's CEO highlighted the company's Q2 2025 return to growth, driven by value-added solutions, expanded markets, and strong execution, affirming positive full-year guidance - Claritev returned to growth mode in **Q2 2025**, focusing on driving results with value-added solutions across expanded vertical and growing market segments[3](index=3&type=chunk) - Key achievements include multi-year renewals, white space sales with existing clients, record-sized enterprise subscription deals, and new logos and partnerships in key areas[3](index=3&type=chunk) - The company's transformation is powered by a clear purpose to make healthcare more affordable and transparent, combined with a revitalized leadership team executing with discipline and urgency across expanded international markets[4](index=4&type=chunk) - Full-year financial guidance is moving in the right direction, indicating Claritev is 'fit for growth'[4](index=4&type=chunk) [Q2 2025 Business and Financial Highlights](index=1&type=section&id=Q2%202025%20Business%20and%20Financial%20Highlights) Claritev reported strong Q2 2025 financial results, with 3.5% revenue growth, significantly reduced net loss, and improved Adjusted EBITDA and Free Cash Flow Q2 2025 Business and Financial Highlights | Metric | Q2 2025 | Q2 2024 | Change (YoY) | | :----------------------------------------- | :-------------- | :-------------- | :----------- | | Revenues | $241.6 million | $233.5 million | +3.5% | | Net Loss | $(62.6) million | $(576.7) million | Reduced loss | | Adjusted EBITDA | $154.0 million | $146.7 million | +5.0% | | Adjusted EBITDA Margin | 63.8% | N/A | N/A | | Net cash provided by operating activities | $61.2 million | $18.5 million | +230.8% | | Free Cash Flow | $36.6 million | $(7.0) million | Improved to positive | - The Company ended Q2 2025 with **$56.4 million** of unrestricted cash and cash equivalents on the balance sheet[7](index=7&type=chunk) - Claritev processed approximately **$43.8 billion** in claim charges during Q2 2025, identifying potential medical cost savings of approximately **$6.3 billion**[7](index=7&type=chunk) [Company Information & Outlook](index=2&type=section&id=Company%20Information%20%26%20Outlook) This section provides an overview of Claritev's mission, updated full-year 2025 financial guidance, and details for the Q2 earnings conference call [About Claritev](index=2&type=section&id=About%20Claritev) Claritev, formerly MultiPlan, is a healthcare technology company leveraging data and AI to enhance affordability, transparency, and quality in the U.S. healthcare system - Claritev (formerly MultiPlan) is a healthcare technology, data, and insights company focused on delivering affordability, transparency, and quality to the U.S. healthcare system[12](index=12&type=chunk) - The company leverages over 40 years of claims processing data, world-class technology, and AI to power a robust enterprise platform that provides meaningful insights, drives affordability and price transparency, and optimizes networks and benefits design[12](index=12&type=chunk) - Claritev serves more than **700** healthcare payors, over **100,000** employers, **60 million** consumers, and **1.4 million** contracted providers[13](index=13&type=chunk) [Full-Year 2025 Financial Guidance Update](index=2&type=section&id=Full-Year%202025%20Financial%20Guidance%20Update) Claritev updated its full-year 2025 financial guidance, upgrading revenue outlook to positive growth and significantly improving Free Cash Flow projections Full-Year 2025 Financial Guidance Update | Financial Metric | Previous FY 2025 Guidance | Updated FY 2025 Guidance | Change | | :------------------- | :-------------------------- | :----------------------- | :----- | | Revenues | (2)% to flat from FY 2024 | Flat to +2% from FY 2024 | Upgraded | | Adjusted EBITDA Margin | 62.5% to 63.5% | No Change | No Change | | Capital expenditures | $155 million to $165 million | $170 million to $180 million | Increased | | Effective tax rate | 25% to 28% | No Change | No Change | | Free Cash Flow | $(75) million to $(65) million | $(20) million to $20 million | Significantly improved | [Conference Call Information](index=2&type=section&id=Conference%20Call%20Information) Claritev held a conference call on August 6, 2025, to discuss Q2 financial results, providing details for access and replay - A conference call was hosted on Wednesday, **August 6, 2025**, at 8:00 a.m. U.S. Eastern Time (ET) to discuss financial results[9](index=9&type=chunk) - Participants could pre-register via a provided link or access a live webcast through the Investor Relations section of the Company's website[9](index=9&type=chunk)[10](index=10&type=chunk) - A replay of the conference call is available approximately two hours after the live event through the archived webcast on the Investor Relations website[11](index=11&type=chunk) [Condensed Consolidated Financial Statements](index=6&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents Claritev's condensed consolidated balance sheets, statements of loss, and cash flows, detailing financial position and performance [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, Claritev's total assets slightly decreased, with increased cash and receivables, while liabilities rose and shareholders' equity became negative Condensed Consolidated Balance Sheets (in thousands) | Balance Sheet Item | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | Change (in thousands) | | :-------------------------------- | :----------------------------- | :------------------------------- | :-------------------- | | Cash and cash equivalents | $56,390 | $16,848 | +$39,542 | | Trade accounts receivable, net | $123,579 | $89,758 | +$33,821 | | Total current assets | $247,138 | $175,515 | +$71,623 | | Total assets | $5,071,980 | $5,150,827 | -$78,847 | | Total current liabilities | $253,142 | $213,790 | +$39,352 | | Long-term debt | $4,533,078 | $4,509,725 | +$23,353 | | Total liabilities | $5,111,888 | $5,066,805 | +$45,083 | | Total shareholders' equity | $(39,908) | $84,022 | -$123,930 | [Condensed Consolidated Statements of Loss and Comprehensive Loss](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Loss%20and%20Comprehensive%20Loss) Claritev's Q2 2025 revenues increased to $241.6 million, with net loss significantly narrowing to $62.6 million, primarily due to the absence of prior-year impairment losses Condensed Consolidated Statements of Loss and Comprehensive Loss (in thousands) | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :------------------------------------ | :---------------------------------------------- | :---------------------------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Revenues | $241,570 | $233,476 | $472,900 | $467,984 | | Total expenses | $224,992 | $757,403 | $446,580 | $1,478,347 | | Operating income (loss) | $16,578 | $(523,927) | $26,320 | $(1,010,363) | | Net loss | $(62,640) | $(576,727) | $(133,959) | $(1,116,416) | | Net loss per share – Basic and Diluted | $(3.81) | $(35.78) | $(8.19) | $(69.18) | - The significant reduction in net loss is largely attributable to the absence of a loss on impairment of goodwill and intangible assets, which was **$553,701 thousand** in Q2 2024 and **$1,072,751 thousand** for the six months ended June 30, 2024, compared to **$0** in the corresponding 2025 periods[32](index=32&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2025, operating cash flow decreased, investing activities remained an outflow, and financing activities generated significant cash inflow Condensed Consolidated Statements of Cash Flows (in thousands) | Cash Flow Item | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | Change (in thousands) | | :------------------------------------ | :-------------------------------------------- | :-------------------------------------------- | :-------------------- | | Net cash provided by operating activities | $31,181 | $68,187 | -$37,006 | | Net cash (used in) investing activities | $(63,489) | $(55,989) | -$7,500 | | Net cash provided by (used in) financing activities | $69,924 | $(34,523) | +$104,447 | | Net increase (decrease) in cash, cash equivalents and restricted cash | $37,616 | $(22,325) | +$59,941 | - Financing activities included **$130,000 thousand** in borrowings and **$(50,000) thousand** in repayments on the 2025 revolving credit facility for the six months ended June 30, 2025[34](index=34&type=chunk) [Non-GAAP Financial Measures & Reconciliations](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) This section defines Claritev's non-GAAP financial measures, outlines their limitations, and provides detailed reconciliations for EBITDA and Free Cash Flow [Definition and Limitations of Non-GAAP Measures](index=4&type=section&id=Definition%20and%20Limitations%20of%20Non-GAAP%20Measures) Claritev uses non-GAAP measures like EBITDA and Free Cash Flow for supplemental insights, acknowledging their definitions, adjustments, and inherent limitations - Non-GAAP financial measures used include EBITDA, Adjusted EBITDA, Free Cash Flow, Unlevered Free Cash Flow, and Adjusted cash conversion ratio, which are supplemental to GAAP measures[19](index=19&type=chunk)[20](index=20&type=chunk) - EBITDA is defined as net (loss) income before interest expense, interest income, income tax provision (benefit), depreciation, amortization of intangible assets, and non-income taxes[21](index=21&type=chunk) - Free Cash Flow is net cash provided by operating activities less capital expenditures, while Unlevered Free Cash Flow further adds back cash interest paid[25](index=25&type=chunk) - Limitations of these non-GAAP measures include not reflecting changes in working capital, interest or principal payments on debt, tax expenses, or cash requirements for asset replacements[27](index=27&type=chunk) [Calculation of EBITDA and Adjusted EBITDA](index=10&type=section&id=Calculation%20of%20EBITDA%20and%20Adjusted%20EBITDA) Claritev reported Q2 2025 EBITDA of $128.29 million and Adjusted EBITDA of $154.03 million, with significant year-over-year improvement due to no impairment losses Calculation of EBITDA and Adjusted EBITDA (in thousands) | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :---------------------- | :---------------------------------------------- | :---------------------------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Net loss | $(62,640) | $(576,727) | $(133,959) | $(1,116,416) | | EBITDA | $128,286 | $(415,306) | $240,636 | $(788,211) | | Adjusted EBITDA | $154,028 | $146,670 | $296,097 | $293,460 | - Adjustments to EBITDA for Q2 2025 included **$6.69 million** for other expenses, net, **$1.81 million** for loss on disposal of assets, **$7.93 million** for transformation costs, and **$9.10 million** for stock-based compensation[36](index=36&type=chunk) - The substantial increase in EBITDA compared to the prior year periods is largely due to the absence of a 'Loss on impairment of goodwill and intangible assets,' which was **$553,701 thousand** in Q2 2024 and **$1,072,751 thousand** for the six months ended June 30, 2024[36](index=36&type=chunk) [Calculation of Unlevered Free Cash Flow and Adjusted Cash Conversion Ratio](index=11&type=section&id=Calculation%20of%20Unlevered%20Free%20Cash%20Flow%20and%20Adjusted%20Cash%20Conversion%20Ratio) Claritev's Q2 2025 Free Cash Flow significantly improved to $36.61 million, with Unlevered Free Cash Flow at $72.12 million and an Adjusted Cash Conversion Ratio of 47% Calculation of Unlevered Free Cash Flow and Adjusted Cash Conversion Ratio (in thousands) | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :------------------------------------ | :---------------------------------------------- | :---------------------------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Net cash provided by operating activities | $61,237 | $18,471 | $31,181 | $68,187 | | Purchases of property and equipment | $(24,623) | $(25,445) | $(63,489) | $(55,989) | | Free Cash Flow | $36,614 | $(6,974) | $(32,308) | $12,198 | | Interest paid | $35,507 | $97,653 | $117,510 | $158,395 | | Unlevered Free Cash Flow | $72,121 | $90,679 | $85,202 | $170,593 | | Adjusted EBITDA | $154,028 | $146,670 | $296,097 | $293,460 | | Adjusted Cash Conversion Ratio | 47 % | 62 % | 29 % | 58 % | [Legal & Investor Information](index=3&type=section&id=Legal%20%26%20Investor%20Information) This section provides contact information for investor and media relations, alongside important disclosures regarding forward-looking statements and associated risks [Investor and Media Relations Contacts](index=3&type=section&id=Investor%20and%20Media%20Relations%20Contacts) Claritev provides dedicated contact information for investor relations and media inquiries, with specific personnel assigned to each - Investor Relations contacts are Jason Wong (SVP, Treasury & Investor Relations) and Shawna Gasik (AVP, Investor Relations), reachable at 866-909-7427 or investor@claritev.com[15](index=15&type=chunk) - Media Relations contact is Pamela Walker (VP, Marketing & Communication), reachable at 781-895-3118 or press@claritev.com[15](index=15&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially, with no obligation to update - The press release contains forward-looking statements regarding future events or results, identifiable by terms such as 'believes,' 'estimates,' 'anticipates,' 'expects,' 'plans,' 'may,' 'will,' or 'should'[15](index=15&type=chunk) - These statements are based on current market information and management's expectations but involve risks and uncertainties that may cause actual results to be materially different[15](index=15&type=chunk)[17](index=17&type=chunk) - Key risk factors include loss of clients, ability to achieve strategic goals, loss of key personnel, trends in the U.S. healthcare system, competition, pricing pressure, changes in industry standards, litigation, cybersecurity breaches, and regulatory changes[15](index=15&type=chunk)[16](index=16&type=chunk) - The company does not undertake any obligation to update or revise forward-looking statements, except as required under applicable securities laws[18](index=18&type=chunk)

Financial Position - As of March 31, 2025, the Company had total long-term debt of $4,555.15 million, with a fair value of $3,408.53 million[66]. - The fair value of long-term debt is estimated using Level 2 inputs, as these are not registered securities nor listed on any exchange[66]. - The Company had cash and cash equivalents of $10.0 million as of March 31, 2025, which included money market funds valued based on Level 1 measurements[64]. - The Company has irrevocable letters of credit totaling $5.2 million outstanding as of March 31, 2025, related to real estate lease agreements and a captive insurance subsidiary[71]. Revenue and Income - Revenues for the three months ended March 31, 2025, were $231.33 million, a decrease of 1% from $234.51 million in the same period of 2024[80]. - Operating income for Q1 2025 was $9.74 million, compared to an operating loss of $486.44 million in Q1 2024[80]. - Net loss for the three months ended March 31, 2025, was $71.32 million, significantly improved from a net loss of $539.69 million in Q1 2024[81]. - Basic and diluted net loss per share for Q1 2025 was $(4.38), compared to $(33.40) for Q1 2024[81]. Expenses - Total expenses for Q1 2025 were $221.59 million, down from $720.94 million in Q1 2024, reflecting a substantial reduction in costs[80]. - General and Administrative expenses increased to $50.64 million in Q1 2025 from $34.86 million in Q1 2024, primarily due to higher personnel costs and other G&A expenses[80]. - Interest expense for Q1 2025 was $91.64 million, up from $82.20 million in Q1 2024[80]. - Related party expenses amounted to $19 thousand in Q1 2025, down from $36 thousand in Q1 2024[82]. Impairment and Litigation - There were no impairment charges for the three months ended March 31, 2025, while impairment charges of $519.1 million were recorded for the same period in 2024[69]. - The company reported no loss on impairment of goodwill and intangible assets in Q1 2025, contrasting with a loss of $519.05 million in Q1 2024[80]. - The Company believes that ongoing litigation will not have a material adverse effect on its financial condition or results of operations[72]. - The Company received $9.8 million in recoveries from insurers related to a settled litigation case in the three months ended September 30, 2024[73]. Operational Overview - The Company operates as a single segment focused on providing data analytics and technology-enabled cost management solutions to the U.S. healthcare industry[76]. - The Company has identified significant expenses including personnel costs, stock-based compensation, and access and bill review fees, which are regularly reviewed by the Chief Operating Decision Maker[77]. - The Company recorded no value for the 476,717 Private Placement Warrants and 310,102 Unvested Founder Shares as of March 31, 2025[61]. Share Information - The weighted average number of shares outstanding for basic and diluted calculations was 16,273,439 for Q1 2025, compared to 16,158,356 for Q1 2024[81].

EXHIBIT 99.1 E Claritev Corporation Reports First Quarter 2025 Results McLean, VA — May 8, 2025 — Claritev Corporation ("Claritev" or the "Company") (NYSE: CTEV), a technology, data and insights company focused on making healthcare more affordable, transparent and fair for all, today reported financial results for the first quarter ended March 31, 2025. "There is tremendous excitement at Claritev as we kick off 2025 - our 'Year of The Turn.' We've already announced major milestones, and our teams are amplif ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (MARK ONE) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 o For the transition period from to Commission file number: 001-39228 CLARITEV CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 84-3536151 (State or other ...

Claritev Corporation (NYSE:MPLN) Q4 2024 Earnings Conference Call February 25, 2025 8:00 AM ET Company Participants Shawna Gasik - Assistant Vice President, Investor Relations Travis Dalton - Chief Executive Officer Doug Garis - Chief Financial Officer Conference Call Participants Joshua Raskin - Nephron Research Daniel Grosslight - Citigroup Jessica Tassan - Piper Sandler Operator Hello all, and welcome to today's Claritev Corporation Fourth Quarter 2024 Earnings Call. My name is Drew, and I will be the op ...

MultiPlan Corporation (MPLN) came out with a quarterly loss of $5.14 per share versus the Zacks Consensus Estimate of a loss of $2.33. This compares to loss of $2.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -120.60%. A quarter ago, it was expected that this company would post a loss of $2.37 per share when it actually produced a loss of $1.85, delivering a surprise of 21.94%.Over the last four quarters, the company has ...

Claritev Q4 & FY 2024 Results and Business Update February 25, 2025 1 Disclaimer Forward-Looking Statements This presentation includes statements that express our management's opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements". These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms "believes," "estim ...