Debt and Capital Structure - As of September 30, 2024, the company's long-term debt totaled $4,569.060 million, a decrease from $4,600.030 million as of December 31, 2023[78] - The company purchased and canceled $21.1 million of Senior Convertible PIK Notes during the nine months ended September 30, 2024, resulting in a gain on extinguishment of $5.9 million[78] - The interest rate for Term Loan B was 9.57% as of September 30, 2024[78] - The company is exploring ways to optimize its capital structure to support its transformation into a data and technology-focused entity in healthcare[79] - The fair value of long-term debt as of September 30, 2024, was estimated at $3,059.946 million[88] - The company has irrevocable letters of credit totaling $7.9 million outstanding as of September 30, 2024, related to real estate lease agreements and a captive insurance subsidiary[94] Financial Performance - The company reported impairment charges of $361.6 million for goodwill and $1,434.4 million for long-lived intangible assets for the nine months ended September 30, 2024[91] - The Company reported a net loss of $391,450 thousand for the three months ended September 30, 2024, compared to a net loss of $24,145 thousand for the same period in 2023[102] - The net loss per share was $(24.25) for the three months ended September 30, 2024, compared to $(1.49) for the same period in 2023[102] - The weighted average number of shares outstanding was 16,143,520 for the three months ended September 30, 2024, slightly down from 16,161,095 in the same period of 2023[102] Stock and Legal Matters - The Company has authorized a stock repurchase program of up to $100.0 million, extended through December 31, 2024, with $25.6 million spent as of September 30, 2024[99] - Legal expenses related to ongoing litigation amounted to $23 thousand and $82 thousand for the three and nine months ended September 30, 2024, respectively[103] - The Company has accrued for legal fees and contingencies, reflecting significant management judgment in estimating potential liabilities[98] - The Company intends to vigorously defend against antitrust lawsuits centralized in the Northern District of Illinois[97] Other Financial Activities - The fair value of Private Placement Warrants and Unvested Founder Shares was recorded at $1,000 as of September 30, 2024, down from $477,000 as of December 31, 2023[82] - The company recognized losses of $87,000 related to the change in fair value of Private Placement Warrants and Unvested Founder Shares for the three months ended September 30, 2024[83] - The company received $9.8 million in recoveries from insurers related to a settled litigation during the three months ended September 30, 2024[96] - As of September 30, 2024, prepaid expenses from related parties were $6 thousand, down from $36 thousand as of December 31, 2023[104] Market Risks - There were no material changes in market risks as of September 30, 2024, compared to the 2023 Annual Report[211]

MultiPlan Corporation (MPLN) came out with a quarterly loss of $1.85 per share versus the Zacks Consensus Estimate of a loss of $2.37. 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 21.94%. A quarter ago, it was expected that this company would post a loss of $1.60 per share when it actually produced a loss of $1.20, delivering a surprise of 25%.Over the last four quarters, the company has surpa ...

Group 1 - MultiPlan Corporation (MPLN) shares increased by 9% to close at $7.87, following a notable trading volume, despite a 21.7% loss over the past four weeks [1] - The partnership with the National Rural Health Association is fostering optimism, leveraging over 40 years of combined expertise to enhance healthcare quality and reduce costs in rural areas [2] - The upcoming quarterly report is expected to show a loss of $2.40 per share, with revenues projected at $230.91 million, reflecting a 4.9% decline from the previous year [3] Group 2 - The consensus EPS estimate for MultiPlan has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without earnings estimate revisions [4] - MultiPlan is categorized under the Zacks Medical Services industry, where Teladoc (TDOC) has shown a 23.7% return in the past month, closing at $8.41 [4] - Teladoc's EPS estimate has decreased by 2.1% to -$0.29, representing a 17.1% change compared to the previous year [5]

Financial Data and Key Metrics Changes - Second quarter revenue was $233.5 million, a decrease of 1.9% from Q2 2023 and effectively flat sequentially [28] - Adjusted EBITDA was $146.7 million in Q2 2024, down 3.9% from $152.7 million in the prior year quarter and down 0.1% from $146.8 million in Q1 2024 [34] - Adjusted EBITDA margin was 62.8% in Q2 2024, up 20 basis points from Q1 2024 but down from 64.2% in the prior year quarter [35] - Full year 2024 revenue guidance revised to $935 million to $955 million, down from prior guidance of $1.0 billion to $1.03 billion [36] Business Line Data and Key Metrics Changes - Network-based revenues declined 0.9% sequentially, driven by continued softness in complementary network and Property and Casualty businesses [29] - Analytics-based revenues were essentially flat sequentially, with strength in Data iSight offset by softness in NSA volumes [29] - Payment and Revenue Integrity revenues declined 1.4% sequentially, driven by softness in Prepayment Clinical Negotiation business [30] Market Data and Key Metrics Changes - Total second quarter build charges increased 9% sequentially to $45.3 billion, and identified potential savings increased 8% sequentially to $6.2 billion [31] - Identified potential savings in the core percentage of savings revenue model increased 3% sequentially to $4.4 billion [31] - Revenue yield declined about 31 basis points sequentially for the overall business, with a decline of about 14 basis points in the core percentage of savings revenue model [32][33] Company Strategy and Development Direction - The company is engaged in a 5-year strategic and resource planning exercise to assess market potential and sharpen new product development [14] - A focus on transforming into a data and technology-forward organization with an aggressive growth mindset is emphasized [21] - The company aims to increase its total addressable market and diversify its customer base by serving national and regional payer clients more aggressively [21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that financial results have not met expectations and emphasized the need for improvement [25] - The company is confident in its core business despite anticipated attrition from a larger client impacting growth until mid-2025 [37] - Management expressed optimism about the long-term prospects and the potential for sustainable growth through improved execution and product offerings [28][57] Other Important Information - A noncash impairment charge of $553.7 million was recorded due to the estimated fair value of goodwill being less than its carrying value [38] - The company ended the quarter with $49 million of unrestricted cash and emphasized a focus on organic investments and debt reduction [39][40] Q&A Session Summary Question: Guidance for the second half and potential cost savings - Management indicated cautious optimism for the second half, with expectations of modest improvement in core revenues but volatility in revenue yield [43][45] Question: Slower commercial traction on new products - Management clarified that the sales cycle for new products is taking longer than anticipated, but the pipeline remains robust [46] Question: Details on the 3% headwind to revenues in 2025 - Management noted that this headwind is related to a strategic decision by one of their larger clients, not indicative of a broader trend [47][48] Question: Revenue yield volatility - Management explained that while there has been volatility in revenue yield, they expect some normalization as client credits wash through the system [50][52] Question: Long-term growth expectations - Management reaffirmed the long-term growth targets of 4% to 5% for core out-of-network growth, with potential for higher growth with new products [55][57]

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 quarter ended March 31, 2024 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 MULTIPLAN CORPORATION (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction of incorp ...

EXHIBIT 99.1 MultiPlan Reports First Quarter 2024 Results NEW YORK, NY — May 8, 2024 — MultiPlan Corporation ("MultiPlan" or the "Company") (NYSE: MPLN), a leading value-added provider of data analytics and technology-enabled end-to-end cost management, payment and revenue integrity solutions to the U.S. healthcare industry, today reported financial results for the first quarter ended March 31, 2024. "As you heard me say a just few months ago, I joined as CEO because I saw an incredible opportunity to help ...

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, 2023 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 MULTIPLAN CORPORATION (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction of in ...

Revenue Performance - Q4 2023 revenues were $244.1 million, a 1.3% increase from Q4 2022 revenues of $241.1 million[5] - Full year 2023 revenues totaled $961.5 million, a decrease of 10.9% compared to $1,079.7 million in 2022[5] - MultiPlan's revenues for 2023 were $961,524 thousand, a decrease of 10.9% from $1,079,716 thousand in 2022[27] - Full year 2024 revenue guidance is set between $1,000 million and $1,030 million, with Adjusted EBITDA guidance of $630 million to $650 million[4] Net Loss and Financial Improvement - The net loss for Q4 2023 was $31.4 million, significantly improved from a net loss of $650.1 million in Q4 2022[5] - The company reported a net loss of $91,697 thousand in 2023, compared to a net loss of $572,912 thousand in 2022, indicating an improvement in financial performance[27] - Net loss for 2023 was $91,697, compared to a loss of $572,912 in 2022, indicating a significant improvement[34] EBITDA and Cash Flow - Adjusted EBITDA for Q4 2023 was $156.8 million, compared to $161.5 million in Q4 2022[5] - Adjusted EBITDA for 2023 was $161,982 thousand, a significant recovery from an operating loss of $362,732 thousand in 2022[27] - EBITDA for 2023 reached $640,215, a substantial increase from $150,103 in 2022[34] - Net cash provided by operating activities for 2023 was $171,720 thousand, a decrease from $372,364 thousand in 2022[30] - Net cash provided by operating activities decreased to $171,720 in 2023 from $372,364 in 2022, indicating lower operational cash flow[36] Medical Cost Savings - The company identified potential medical cost savings of approximately $5.9 billion in Q4 2023, up 2.3% from Q3 2023 and up 9.4% from Q4 2022[4] - Full year 2023 identified potential medical savings reached $22.9 billion, compared to $22.3 billion in 2022[5] Debt Management - The company repurchased and repaid $222 million of debt during 2023, including $25 million in Q4[3] - Long-term debt was reduced to $4,532,733 thousand in 2023 from $4,741,856 thousand in 2022, reflecting a focus on debt management[25] Cash and Assets - The company ended Q4 2023 with $71.5 million of unrestricted cash and cash equivalents[5] - Cash and cash equivalents at the end of 2023 were $71,547 thousand, down from $334,046 thousand at the end of 2022[25] - Total current assets decreased to $193,593 thousand in 2023 from $446,737 thousand in 2022, primarily due to a reduction in cash and cash equivalents[25] - The company’s total assets decreased to $6,964,687 thousand in 2023 from $7,371,104 thousand in 2022[25] Capital Expenditures and Investments - The company made significant investments in property and equipment, totaling $108,852 thousand in 2023, compared to $89,735 thousand in 2022[30] - Net cash used in investing activities rose to $249,792 in 2023, compared to $104,446 in 2022, reflecting increased capital expenditures[36] Efficiency and Cost Management - The Adjusted cash conversion ratio, which measures how much of Adjusted EBITDA is converted into Unlevered Free Cash Flow, is a key performance indicator for the company[23] - Adjusted Cash Conversion Ratio fell to 62% in 2023, compared to 74% in 2022, suggesting a decline in cash conversion efficiency[36] - Integration expenses decreased to $3,358 in 2023 from $4,055 in 2022, showing improved integration efficiency[34] - Stock-based compensation increased to $18,018 in 2023 from $15,083 in 2022, indicating higher employee compensation costs[34] Interest and Expenses - Interest expense increased to $333,208 in 2023 from $303,401 in 2022, highlighting rising borrowing costs[34] - Free Cash Flow decreased to $62,868 in 2023 from $282,629 in 2022, reflecting a decline in cash generation[36] - Unlevered Free Cash Flow for 2023 was $386,264, down from $572,395 in 2022, indicating reduced operational efficiency[36]

Part I [Financial Statements](index=10&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for MultiPlan Corporation as of September 30, 2023, and for the three and nine-month periods then ended, including balance sheets, statements of income, shareholders' equity, and cash flows, along with accompanying notes detailing significant accounting policies and events such as the acquisition of BST [Unaudited Condensed Consolidated Balance Sheets](index=10&type=page&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of September 30, 2023, shows total assets of $7.06 billion, a decrease from $7.37 billion at year-end 2022, primarily due to a reduction in cash and cash equivalents, while total liabilities also decreased to $5.31 billion from $5.58 billion, mainly from a reduction in long-term debt, and goodwill increased to $3.83 billion following the BST acquisition Condensed Consolidated Balance Sheet Data (in thousands) | Account | September 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $101,320 | $334,046 | | Goodwill | $3,829,002 | $3,705,199 | | Total assets | $7,057,819 | $7,371,104 | | **Liabilities & Equity** | | | | Long-term debt | $4,557,978 | $4,741,856 | | Total liabilities | $5,308,231 | $5,580,562 | | Total shareholders' equity | $1,749,588 | $1,790,542 | [Unaudited Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income](index=11&type=page&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20%28Loss%29%20Income%20and%20Comprehensive%20%28Loss%29%20Income) The company reported a net loss of $24.1 million for Q3 2023, a significant reversal from a net income of $19.7 million in Q3 2022, with the nine-month net loss at $60.3 million compared to a net income of $77.2 million in the prior year, driven by lower revenues and higher interest expense, partially offset by a gain on debt extinguishment Income Statement Highlights (in thousands, except per share data) | Metric | Q3 2023 | Q3 2022 | Nine Months 2023 | Nine Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Revenues | $242,804 | $250,453 | $717,389 | $838,627 | | Operating income | $39,519 | $36,399 | $121,170 | $250,803 | | Net (loss) income | $(24,145) | $19,736 | $(60,306) | $77,226 | | Net (loss) income per share - Diluted | $(0.04) | $0.03 | $(0.09) | $0.12 | [Unaudited Condensed Consolidated Statements of Shareholders' Equity](index=12&type=page&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Shareholders%27%20Equity) Shareholders' equity decreased from $1.79 billion at the start of 2023 to $1.75 billion by September 30, 2023, primarily driven by a net loss of $60.3 million and stock repurchases totaling $13.1 million, partially offset by stock-based compensation and stock consideration issued for the BST acquisition - For the nine months ended September 30, 2023, key changes to shareholders' equity included a **net loss of $60.3 million**, **$13.4 million in stock-based compensation**, and the **repurchase of common stock for $13.1 million**[28](index=28&type=chunk) - Stock consideration of **$19.2 million** was paid for the BST acquisition, which involved issuing **21,588,652 shares of Class A common stock**[28](index=28&type=chunk)[48](index=48&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=15&type=page&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2023, net cash from operating activities was $144.0 million, a significant decrease from $344.7 million in the prior-year period, while investing activities used $218.4 million, largely for the BST acquisition ($140.9 million), and financing activities used $158.5 million, mainly for the repurchase of notes ($135.0 million) and treasury stock ($13.1 million), resulting in a net decrease in cash of $232.9 million Cash Flow Summary (in thousands) | Activity | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $144,018 | $344,675 | | Net cash used in investing activities | $(218,449) | $(78,920) | | Net cash used in financing activities | $(158,514) | $(12,314) | | **Net (decrease) increase in cash** | **$(232,945)** | **$253,441** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=17&type=page&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed explanations for the financial statements, highlighting key events such as the acquisition of Benefits Science LLC (BST) on May 8, 2023, for $160.1 million, resulting in $123.8 million of goodwill, the entry into $800 million of interest rate swaps to hedge floating-rate debt, the repurchase of $184.0 million of its 5.750% Notes (recognizing a $46.9 million gain), and the initiation of a $100 million share repurchase program, spending $13.1 million to date - On May 8, 2023, the Company acquired 100% of Benefits Science LLC (BST) for **$160.1 million**, consisting of **$140.9 million in cash** and **$19.2 million in stock**, adding **$123.8 million to goodwill**[48](index=48&type=chunk)[51](index=51&type=chunk)[53](index=53&type=chunk) - During the nine months ended September 30, 2023, the Company purchased and cancelled **$184.0 million of its 5.750% Notes**, resulting in a recognized **gain on extinguishment of $46.9 million**[63](index=63&type=chunk)[65](index=65&type=chunk) - In September 2023, the Company entered into interest rate swap agreements with a total notional value of **$800 million** to convert a portion of its floating-rate debt to a fixed-rate basis[58](index=58&type=chunk) - On February 27, 2023, the Board approved a **$100 million share repurchase program**, and as of September 30, 2023, the Company has spent **$13.1 million** to repurchase its Class A common stock[88](index=88&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a 14.5% year-over-year revenue decrease for the nine-month period ended September 30, 2023, attributing it to lower revenues across all service lines, particularly a 16.5% drop in Analytics-Based Services due to contractual rate changes, while the company acquired BST to enhance its data analytics capabilities, and despite revenue pressure, Q3 2023 operating income increased due to significantly lower G&A expenses, with the company actively managing its capital structure through debt repurchases and a share buyback program [Company Overview](index=28&type=page&id=Company%20Overview) MultiPlan is a data analytics and technology solutions provider for the U.S. healthcare industry, focusing on reducing medical costs and improving payment accuracy for payors, offering three categories of services: Analytics-Based, Network-Based, and Payment and Revenue Integrity, and serving as an intermediary for payors, employers, plan members, and providers, identifying approximately $17.0 billion in potential medical cost savings in the first nine months of 2023 - The company's services are categorized into **Analytics-Based Services**, **Network-Based Services**, and **Payment and Revenue Integrity Services**[101](index=101&type=chunk) - For the nine months ended September 30, 2023, the company's services identified approximately **$17.0 billion in potential medical cost savings**[102](index=102&type=chunk) [Results of Operations](index=35&type=page&id=Results%20of%20Operations) For the nine months ended September 30, 2023, total revenues decreased 14.5% to $717.4 million from $838.6 million in the prior-year period, driven by a 16.5% drop in Analytics-Based Services revenue and a 10.3% fall in Network-Based Services revenue, primarily due to contractual rate changes with customers, while costs of services increased by 16.5%, and G&A expenses fell 17.6% due to lower transaction costs, leading to a 51.7% decrease in operating income for the nine-month period Revenues by Service (in thousands) | Service | Nine Months 2023 | Nine Months 2022 | Change % | | :--- | :--- | :--- | :--- | | Network-Based Services | $171,171 | $190,903 | (10.3)% | | Analytics-Based Services | $462,275 | $553,334 | (16.5)% | | Payment and Revenue Integrity | $83,943 | $94,390 | (11.1)% | | **Total Revenues** | **$717,389** | **$838,627** | **(14.5)%** | - The decrease in Analytics-Based Services revenues for the nine months was primarily due to **contractual rate changes with customers**, contributing to a **$98.1 million decrease in PSAV revenues** for that segment[140](index=140&type=chunk) - General and administrative expenses for the nine months decreased by **$23.1 million (17.6%)**, mainly due to a **$23.3 million reduction in transaction-related expenses** compared to the prior year[147](index=147&type=chunk) [Non-GAAP Financial Measures](index=32&type=page&id=Non-GAAP%20Financial%20Measures) The company uses EBITDA, Adjusted EBITDA, and Adjusted EPS as key non-GAAP metrics to evaluate performance, with Adjusted EBITDA for the nine months ended September 30, 2023, at $461.2 million, down from $607.2 million in the prior-year period, and Adjusted EPS for the same period at $0.18, a significant decrease from $0.39 in 2022, as these measures exclude items like amortization, stock-based compensation, and transaction expenses to provide a view of core business performance Non-GAAP Reconciliation Highlights (in thousands, except per share data) | Metric | Nine Months 2023 | Nine Months 2022 | | :--- | :--- | :--- | | Net (loss) income | $(60,306) | $77,226 | | Adjusted EBITDA | $461,202 | $607,214 | | Adjusted net income | $116,662 | $248,343 | | Adjusted EPS | $0.18 | $0.39 | [Liquidity and Capital Resources](index=39&type=page&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2023, the company had $107.6 million in cash and cash equivalents and $442.1 million available under its revolving credit facility, with key uses of cash during the first nine months of 2023 including $140.9 million for the BST acquisition, $135.0 million for debt repurchases, and $13.1 million for share repurchases, and the company believes its current liquidity is sufficient for the next twelve months, with total long-term debt standing at $4.56 billion - As of September 30, 2023, the company had **cash and cash equivalents of $107.6 million** and **$442.1 million of availability** under its revolving credit facility[160](index=160&type=chunk) - Significant cash outflows in the first nine months of 2023 included the **acquisition of BST ($140.9M)**, **repurchase of 5.750% Notes ($135.0M)**, and **purchase of treasury stock ($13.1M)**[162](index=162&type=chunk)[170](index=170&type=chunk)[171](index=171&type=chunk) - The company was in compliance with all debt covenants as of September 30, 2023, with a **consolidated first lien debt to consolidated EBITDA ratio of 3.63 times**[184](index=184&type=chunk)[185](index=185&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=43&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states there have been no material changes in its market risks since the disclosures in its 2022 Annual Report, with the primary market risk exposure relating to interest rate fluctuations on its variable-rate debt, which it has partially hedged with interest rate swaps - As of September 30, 2023, there were **no material changes in the market risks** described in the company's 2022 Annual Report[197](index=197&type=chunk) [Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective at a reasonable assurance level as of September 30, 2023, with no material changes to the internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls - Management concluded that as of September 30, 2023, **disclosure controls and procedures were effective** to provide reasonable assurance that required information is recorded, processed, and reported in a timely manner[199](index=199&type=chunk) - There has been **no change in internal control over financial reporting** during the nine months ended September 30, 2023, that has materially affected, or is reasonably likely to materially affect, the Company's internal control[200](index=200&type=chunk) Part II - Other Information [Legal Proceedings](index=45&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that the previously disclosed Delaware Stockholder Litigation related to its de-SPAC transaction has been fully resolved, with a settlement of $33.75 million, paid by the company and its insurers, approved by the court on February 28, 2023, and becoming final, and other ongoing legal matters are not expected to have a material adverse effect on the company's financial condition or results of operations - The Delaware Stockholder Litigation was fully resolved following a **court-approved settlement of $33.75 million**, which was paid by the company and its insurers[206](index=206&type=chunk)[207](index=207&type=chunk) [Risk Factors](index=45&type=page&id=Item%201A.%20Risk%20Factors) The company states there have been no material changes to the risk factors that were previously disclosed in Item 1A of the Company's 2022 Annual Report - There have been **no material changes** during the nine months ended September 30, 2023 to the risk factors previously disclosed in the Company's 2022 Annual Report[209](index=209&type=chunk) [Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=45&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company did not repurchase any shares of its Class A common stock during the third quarter of 2023, and subsequent to the quarter, on November 8, 2023, the Board extended the existing $100 million share repurchase program through December 31, 2024, with $13.1 million repurchased to date under the program, leaving $86.9 million authorized for future repurchases - The Company did not repurchase shares of its Class A common stock during the three months ended September 30, 2023[210](index=210&type=chunk) - On November 8, 2023, the Board extended the Company's current **$100 million share repurchase program** through December 31, 2024, with **$86.9 million remaining** under the authorization[215](index=215&type=chunk) [Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, which include the certifications by the Principal Executive Officer and Principal Financial Officer as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, and the Inline XBRL financial data files - The exhibits filed with the report include **CEO and CFO certifications** pursuant to Sarbanes-Oxley Act Rules and **financial statements formatted in Inline XBRL**[218](index=218&type=chunk)

Third Quarter 2023 Results: • Adjusted EBITDA1 of $152.3 million, and Adjusted EBITDA2 margin of 62.7% During the third quarter, we: • Achieved critical milestones in the execution of our Growth Plan, including: • Launched our price transparency solutions, including PlanOptixTM Search in July and PlanOptixTM Intelligence in October • Signed our first customer to our new B2B healthcare payments service through our partnership with ECHO Health 1 See reconciliation of non-GAAP measures included in Appendix 2Ad ...