MultiPlan (MPLN)
Search documents
MultiPlan (MPLN) - 2021 Q4 - Annual Report
2022-02-25 13:07
Part I [Business](index=12&type=section&id=Item%201.%20Business) MultiPlan provides data analytics and technology-enabled solutions to the U.S. healthcare industry, focusing on medical cost reduction and payment accuracy for payors - MultiPlan's services are categorized into three main areas: **Analytics-Based Services** (data-driven pricing), **Network-Based Services** (PPO networks with over **1.2 million providers**), and **Payment and Revenue Integrity Services** (pre- and post-payment accuracy)[29](index=29&type=chunk) - In 2021, the company's services identified approximately **$21.7 billion** in potential medical cost savings for its customers[26](index=26&type=chunk) - The company's growth strategy involves enhancing current products, extending its platform to in-network claims and government programs (partly through acquisitions like HST and Discovery Health Partners), and expanding into new business models for providers and consumers[47](index=47&type=chunk)[49](index=49&type=chunk)[50](index=50&type=chunk) - The company's IT platform is a key competitive advantage, processing nearly all claims via EDI or direct web service integration and having the capacity to increase processing volume **threefold** with current infrastructure[70](index=70&type=chunk)[72](index=72&type=chunk) - The company became publicly traded on the NYSE under the ticker "**MPLN**" on October 8, 2020, following a reverse recapitalization with Churchill Capital Corp III[100](index=100&type=chunk)[101](index=101&type=chunk) [Risk Factors](index=23&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks, primarily related to its business operations, high customer concentration, and the evolving healthcare regulatory landscape - The company is highly dependent on a small number of large customers. In 2021, the three largest customers accounted for approximately **34%**, **19%**, and **10%** of total revenues, respectively[118](index=118&type=chunk) - Changes in the healthcare industry, particularly the enactment of laws like the No Surprises Act and other state-level regulations targeting "surprise" medical bills, could adversely affect the company's business strategy and operations[148](index=148&type=chunk)[177](index=177&type=chunk) - The company's substantial level of indebtedness, totaling **$4.97 billion** as of December 31, 2021, poses risks by potentially limiting its ability to raise additional capital, fund operations, and react to economic or industry changes[195](index=195&type=chunk) - The company's Private Placement Warrants and unvested founder shares are accounted for as derivative liabilities, and changes in their fair value are reported in earnings, which may cause volatility in reported financial results and affect the stock price[218](index=218&type=chunk) [Unresolved Staff Comments](index=45&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports that it has no unresolved staff comments from the SEC - There are no unresolved staff comments[223](index=223&type=chunk) [Properties](index=45&type=section&id=Item%202.%20Properties) The company leases all its properties across 15 states, with corporate headquarters in New York, NY, and primary data centers in Texas and Illinois - All company properties are leased. The corporate headquarters is in New York, NY[223](index=223&type=chunk) - The primary data center is in Texas, and the redundant data center is in Illinois, both hosted by co-location service providers[223](index=223&type=chunk) [Legal Proceedings](index=45&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in various lawsuits and regulatory investigations, but does not expect a material adverse effect, and was dismissed from a significant merger-related lawsuit on January 3, 2022 - The company is a defendant in various lawsuits arising from the ordinary course of business but does not expect them to have a material adverse effect[224](index=224&type=chunk) - On January 3, 2022, the company was dismissed from the *In Re MultiPlan Corp. Stockholders Litigation*, a class action lawsuit related to the merger with Churchill Capital Corp III. The litigation will proceed against other defendants[225](index=225&type=chunk)[226](index=226&type=chunk) [Mine Safety Disclosures](index=46&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[227](index=227&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=46&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) MultiPlan's Class A common stock and Public Warrants are listed on the NYSE, with no cash dividends paid to date, and the company repurchased approximately **$100 million** of its stock by the end of 2021 under a **$250 million** program - The company's Class A common stock and Public Warrants trade on the NYSE under symbols "**MPLN**" and "**MPLN.WS**"[227](index=227&type=chunk) - The company has not paid any cash dividends on its Class A common stock to date[229](index=229&type=chunk) Issuer Purchases of Equity Securities (Q4 2021) | Period | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet Be Purchased | | :--- | :--- | :--- | :--- | :--- | | October 1 - 31, 2021 | 7,143,639 | $5.13 | 7,143,639 | $152,257 (in thousands) | | November 1 - 30, 2021 | 510,240 | $4.42 | 510,240 | $150,000 (in thousands) | | December 1 - 31, 2021 | — | — | — | $150,000 (in thousands) | | **Total** | **7,653,879** | **$5.09** | **7,653,879** | **$150,000 (in thousands)** | [Reserved](index=47&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=48&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In fiscal year 2021, MultiPlan's revenues increased **19.2%** to **$1.12 billion**, achieving **$102.1 million** net income and **$838.3 million** Adjusted EBITDA, driven by higher claim volumes, acquisitions, and a significant decrease in stock-based compensation expense Key Financial Results (2021 vs. 2020) | Metric | 2021 | 2020 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenues | **$1,117.6 M** | **$937.8 M** | **19.2%** | | Operating Income (Loss) | **$386.1 M** | **$(131.8) M** | N/M | | Net Income (Loss) | **$102.1 M** | **$(520.6) M** | N/M | | Adjusted EBITDA | **$838.3 M** | **$706.3 M** | **18.7%** | - The increase in 2021 revenue was driven by higher claims volumes, better savings rates as COVID-19 effects subsided, and revenues from the acquisitions of DHP (**$44.4 million**) and HST[292](index=292&type=chunk) - The significant swing from a net loss in 2020 to net income in 2021 was primarily due to a decrease in stock-based compensation expense. In 2020, the company recorded **$405.8 million** in stock-based compensation related to its reverse recapitalization, compared to **$18.0 million** in 2021 under its new incentive plan[291](index=291&type=chunk)[288](index=288&type=chunk)[290](index=290&type=chunk) - On February 26, 2021, the Company acquired Discovery Health Partners (DHP) to strengthen its payment and revenue integrity services[246](index=246&type=chunk) - On August 24, 2021, the company refinanced its debt, issuing **$1.325 billion** in new term loans and **$1.05 billion** in senior secured notes to repay its existing Term Loan G, extending maturities to 2028 and 2026[282](index=282&type=chunk)[325](index=325&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=67&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate fluctuations on its variable-rate debt, with a **100-basis point (1%)** change impacting annual interest expense by approximately **$13.2 million**, and it is monitoring the LIBOR transition - The company's main market risk is interest rate risk from its variable-rate senior secured credit facilities[364](index=364&type=chunk)[367](index=367&type=chunk) - A **100-basis point (1%)** increase or decrease in the variable interest rates under Term Loan B would result in a **$13.2 million** change in annual interest expense[367](index=367&type=chunk) - The company is exposed to risks from the planned discontinuation of LIBOR by mid-2023, which could unpredictably affect its interest payment obligations[370](index=370&type=chunk) [Financial Statements and Supplementary Data](index=68&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) The consolidated financial statements for 2021, 2020, and 2019 are presented with an unqualified auditor's opinion, highlighting **$8.22 billion** in total assets and **$102.1 million** net income for 2021 - The independent auditor, PricewaterhouseCoopers LLP, issued an unqualified opinion on the consolidated financial statements and the effectiveness of internal control over financial reporting as of December 31, 2021[373](index=373&type=chunk)[374](index=374&type=chunk) - The auditor identified two Critical Audit Matters: (1) the estimation of variable consideration for PSAV (Percentage of Savings) revenue, and (2) the valuation of Private Placement Warrants and Unvested Founder Shares[382](index=382&type=chunk)[383](index=383&type=chunk)[386](index=386&type=chunk) Consolidated Balance Sheet Summary | (in thousands) | Dec 31, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Total current assets | **$319,257** | **$208,851** | | Goodwill | **$4,363,070** | **$4,257,336** | | Total assets | **$8,220,407** | **$8,283,578** | | Total current liabilities | **$141,908** | **$112,498** | | Long-term debt | **$4,879,144** | **$4,578,489** | | Total liabilities | **$5,875,737** | **$5,725,710** | | Total shareholders' equity | **$2,344,670** | **$2,557,868** | Consolidated Income Statement Summary | (in thousands) | 2021 | 2020 | 2019 | | :--- | :--- | :--- | :--- | | Revenues | **$1,117,602** | **$937,763** | **$982,901** | | Operating income (loss) | **$386,120** | **$(131,821)** | **$368,209** | | Net income (loss) | **$102,080** | **$(520,564)** | **$9,710** | [Changes in and Disagreements With Accountants on Accounting and Financial Disclosures](index=107&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosures) This item is not applicable - Not applicable[624](index=624&type=chunk) [Controls and Procedures](index=107&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of December 31, 2021, having successfully remediated two previously identified material weaknesses related to accounting resources and formal policies - Management concluded that as of December 31, 2021, the company's disclosure controls and procedures were effective[626](index=626&type=chunk) - The company successfully remediated two previously identified material weaknesses related to (1) insufficient accounting resources and (2) a lack of formal accounting policies and controls for a public company[630](index=630&type=chunk)[632](index=632&type=chunk) - Remediation actions included hiring a **Chief Accounting Officer** and **VP of Internal Audit**, strengthening the finance team, completing a formal risk assessment, and implementing new controls and standardized financial closing procedures[631](index=631&type=chunk)[632](index=632&type=chunk) [Other Information](index=108&type=section&id=Item%209B.%20Other%20Information) There is no other information to report - None[634](index=634&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=108&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable - N/A[634](index=634&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=108&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information for this item is incorporated by reference from the forthcoming 2022 Proxy Statement - Information is incorporated by reference from the forthcoming 2022 Proxy Statement[635](index=635&type=chunk) [Executive Compensation](index=109&type=section&id=Item%2011.%20Executive%20Compensation) Information for this item is incorporated by reference from the forthcoming 2022 Proxy Statement - Information is incorporated by reference from the forthcoming 2022 Proxy Statement[636](index=636&type=chunk) [Security Ownership of Certain Beneficial Owner and Management and Related Stockholder Matters](index=109&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owner%20and%20Management%20and%20Related%20Stockholder%20Matters) Information for this item is incorporated by reference from the forthcoming 2022 Proxy Statement - Information is incorporated by reference from the forthcoming 2022 Proxy Statement[637](index=637&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=109&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information for this item is incorporated by reference from the forthcoming 2022 Proxy Statement - Information is incorporated by reference from the forthcoming 2022 Proxy Statement[638](index=638&type=chunk) [Principal Accounting Fees and Services](index=109&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Information for this item is incorporated by reference from the forthcoming 2022 Proxy Statement - Information is incorporated by reference from the forthcoming 2022 Proxy Statement[639](index=639&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=109&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all exhibits filed with the Form 10-K, including corporate governance documents, debt indentures, and required certifications - This section contains a list of all exhibits filed with the annual report, including governance documents, debt agreements, and executive compensation plans[640](index=640&type=chunk)[641](index=641&type=chunk)[642](index=642&type=chunk) [Form 10-K Summary](index=112&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company indicates there is no Form 10-K summary - None[645](index=645&type=chunk)
MultiPlan (MPLN) - 2021 Q4 - Earnings Call Presentation
2022-02-17 19:39
. MultiPlan Q4 & FY 2021 Results and Business Update L February 17, 2022 Disclaimer Forward-Looking Statements This presentation includes statements that express our and our subsidiaries' 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 "bel ...
MultiPlan (MPLN) - 2021 Q4 - Earnings Call Transcript
2022-02-17 19:38
Financial Data and Key Metrics Changes - In Q4 2021, revenues reached $298.3 million, an increase of 3.5% sequentially and nearly 17% year-over-year, marking the highest quarterly revenue in the company's history [16][44] - Adjusted EBITDA for Q4 2021 was $223.6 million, up 2.4% sequentially and nearly 15% from the prior-year quarter, also the highest in the company's history [16][49] - For the full year 2021, revenues grew over 19% and adjusted EBITDA grew over 18%, with organic growth of over 7% for revenues and over 11% for adjusted EBITDA when controlling for acquisitions and COVID-19 impacts [17][45] Business Line Data and Key Metrics Changes - Analytics-based services and payment and revenue integrity services each grew in excess of 25% in 2021, while network-based services grew by a more modest 2.7% [46] - Identified savings for stakeholders increased by over $3 billion in 2021, or 17%, with a growth of $1.5 billion or 9% excluding contributions from the acquisition of HST [21][26] Market Data and Key Metrics Changes - The company helped payer customers serve over 45 million unique plan members and over 100,000 employers, resulting in nearly $22 billion in savings on over 175 million healthcare claims in 2021 [20] - The COVID-related revenue impact in Q4 2021 was approximately $5 million to $7 million, down from $8 million to $10 million in Q3 2021 [47] Company Strategy and Development Direction - The company aims to promote affordability, efficiency, and fairness in healthcare for all stakeholders in the U.S. healthcare system, focusing on enhancing and extending its service offerings [19][108] - The management is investing in growth initiatives, particularly in payment integrity and value-driven health plans, while maintaining a disciplined approach to cost control [58][71] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued impacts from the COVID-19 pandemic on claim volumes and revenues, particularly in the first half of 2022, but expects a gradual recovery [53][90] - The company projects revenue for 2022 between $1.16 billion and $1.2 billion, with adjusted EBITDA between $850 million and $875 million, reflecting a conservative view on potential headwinds from the No Surprises Act [59][60] Other Important Information - The company has received questions regarding stockholder litigation but maintains that the case is without merit and will continue to defend against it [41] - The company generated over $400 million of operating cash flow in 2021, highlighting strong capital generation and financial flexibility [18][70] Q&A Session Summary Question: What are the assumptions behind the 200 basis point headwind from The No Surprises Act? - Management clarified that the 2% includes known attrition, new wins, and visibility around smaller customers yet to make decisions [76][77] Question: Are there any material changes in the top 10 payer contracts? - Management indicated there are no material changes expected in the composition of the top 10 payers [79][81] Question: What is the outlook for payment integrity growth in 2022? - Management noted that new customer wins are expected to ramp up in the second half of 2022, despite a slight sequential decline in Q4 2021 [93][94] Question: How does the company plan to balance M&A and debt reduction? - Management emphasized the importance of balancing growth and deleveraging, with a focus on migrating the leverage ratio down over time [95] Question: What is the impact of the No Surprises Act on the company's offerings? - Management stated that the company is well-prepared to assist customers with compliance and does not view its offerings as stopgap measures [98][104]
MultiPlan (MPLN) - 2021 Q3 - Quarterly Report
2021-11-04 12:00
Part I. Financial Information [Financial Statements](index=9&type=section&id=Item%201.%20Financial%20Statements) MultiPlan Corporation's unaudited condensed consolidated financial statements as of September 30, 2021, reflect **$8.28 billion** in total assets and a **$77.1 million** net income for the nine months, marking a significant turnaround Condensed Consolidated Balance Sheet Data (Unaudited) | (in thousands) | September 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $225,140 | $126,755 | | Total current assets | $306,182 | $208,859 | | Goodwill | $4,364,705 | $4,257,335 | | Other intangibles, net | $3,370,204 | $3,584,184 | | **Total assets** | **$8,278,793** | **$8,283,577** | | **Liabilities & Equity** | | | | Total current liabilities | $167,162 | $112,498 | | Long-term debt | $4,893,255 | $4,578,480 | | Total liabilities | $5,923,457 | $5,725,716 | | Total shareholders' equity | $2,355,336 | $2,557,861 | | **Total liabilities and shareholders' equity** | **$8,278,793** | **$8,283,577** | Condensed Consolidated Statements of Income (Loss) (Unaudited) | (in thousands, except per share data) | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Revenues | $819,348 | $682,419 | | Operating income (loss) | $276,520 | $(91,616) | | Net income (loss) | $77,142 | $(347,242) | | Net income (loss) per share – Diluted | $0.12 | $(0.84) | Condensed Consolidated Statements of Cash Flows (Unaudited) | (in thousands) | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $371,426 | $332,309 | | Net cash used in investing activities | $(201,197) | $(150,329) | | Net cash (used in) provided by financing activities | $(71,844) | $0 | - On February 26, 2021, the Company acquired Discovery Health Partners (DHP) for a total cash consideration of **$151.8 million**, adding **$108.2 million** in goodwill and **$41.1 million** in other intangible assets[52](index=52&type=chunk)[54](index=54&type=chunk) - On August 24, 2021, the company refinanced its debt by issuing **$1.325 billion** of Term Loan B and **$1.05 billion** of 5.50% Senior Secured Notes to repay **$2.341 billion** of Term Loan G, resulting in a **$15.8 million** loss on extinguishment of debt[61](index=61&type=chunk)[63](index=63&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong nine-month 2021 performance to increased claims volumes and acquisitions, resulting in **20.1% revenue growth** and a shift to **$77.1 million net income**, supported by debt refinancing and a share repurchase program Results of Operations Comparison | ($ in thousands) | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | Change % | | :--- | :--- | :--- | :--- | | Total Revenues | $819,348 | $682,419 | 20.1% | | Operating income (loss) | $276,520 | $(91,616) | 401.8% | | Net income (loss) | $77,142 | $(347,242) | 122.2% | - Revenue growth was driven by increased claims volumes from reduced COVID-19 restrictions, growth from existing customers, and acquired revenues from DHP and HST totaling **$31.3 million** for the nine months ended September 30, 2021[162](index=162&type=chunk) - The significant improvement from operating loss to income was primarily due to a massive reduction in stock-based compensation expense, which was **$13.2 million** in the first nine months of 2021 compared to **$299.6 million** in the same period of 2020, largely tied to a one-time liquidity event from the 2020 Transactions[156](index=156&type=chunk)[158](index=158&type=chunk)[160](index=160&type=chunk) - The company initiated a **$250 million** share repurchase program on August 27, 2021, and had already repurchased **$61.1 million** of its Class A common stock by September 30, 2021[182](index=182&type=chunk) Non-GAAP Reconciliation: Adjusted EBITDA | (in thousands) | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Net income (loss) | $77,142 | $(347,242) | | **Adjusted EBITDA** | **$614,750** | **$511,262** | [Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As of September 30, 2021, the company reports no material changes to the market risks previously disclosed in its 2020 Annual Report on Form 10-K - As of September 30, 2021, there were no material changes in the market risks described in the company's 2020 Annual Report[214](index=214&type=chunk) [Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were not effective as of September 30, 2021, due to ongoing material weaknesses related to accounting resources and formal policies, with remediation efforts underway - Management concluded that disclosure controls and procedures were not effective as of September 30, 2021, due to ongoing material weaknesses[216](index=216&type=chunk) - The material weaknesses identified include an insufficient number of resources with appropriate public company accounting knowledge and a lack of sufficient formal accounting policies, procedures, and controls for public company financial reporting[217](index=217&type=chunk) - Remediation efforts are underway, including hiring a Chief Accounting Officer and VP of Internal Audit, engaging a professional services firm, and developing key controls, but the material weaknesses were not considered fully remediated as of the report date[219](index=219&type=chunk)[221](index=221&type=chunk) Part II - Other Information [Legal Proceedings](index=43&type=section&id=Item%201.%20Legal%20Proceedings) The company reports the voluntary dismissal of a securities class action lawsuit and ongoing stockholder litigation in Delaware, with no contingent liability recorded as of September 30, 2021 - The securities class action lawsuit, In re MultiPlan Corporation Securities Litigation, was voluntarily dismissed by the lead plaintiff on September 14, 2021[226](index=226&type=chunk) - The company is a defendant in the In Re MultiPlan Corp. Stockholders Litigation in Delaware, which alleges breach of fiduciary duty concerning the 2020 Transactions, with a motion to dismiss under advisement by the court[227](index=227&type=chunk) - The company has not recorded a contingent liability accrual for these legal matters as of September 30, 2021, as a potential loss cannot be reasonably estimated[228](index=228&type=chunk) [Risk Factors](index=43&type=section&id=Item%201A.%20Risk%20Factors) A new material risk factor highlights the volatility in reported financial results due to the fair value remeasurement of Private Placement Warrants and unvested founder shares as derivative liabilities - A new risk factor has been added concerning the accounting treatment of Private Placement Warrants and unvested founder shares as derivative liabilities[230](index=230&type=chunk) - These liabilities must be remeasured to fair value each quarter, with changes in value recorded in the income statement, which can cause significant fluctuations in quarterly earnings based on factors like the company's stock price[230](index=230&type=chunk)[231](index=231&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company initiated a **$250 million** share repurchase program in August 2021, repurchasing **10,009,831 shares** for approximately **$61.1 million** by September 30, 2021 - On August 27, 2021, the company announced a share repurchase program authorizing up to **$250 million** of its Class A common stock through December 31, 2022[233](index=233&type=chunk) Share Repurchase Activity (Q3 2021) | Period | Total Shares Purchased | Average Price Paid Per Share | Program | Dollar Value (in thousands) | | :--- | :--- | :--- | :--- | :--- | | Sep 1-30, 2021 | 10,009,831 | $6.10 | Repurchase Program | $61,060 | | July 1-31, 2021 | 32,556 | $7.26 | Employee Transactions | $236 | [Exhibits](index=45&type=section&id=Item%206.%20Exhibits) This section lists key legal and financial documents filed as exhibits with the Form 10-Q, including new debt agreements and executive compensation amendments - Lists key legal and financial documents filed with the report, including new debt agreements (Indenture and Credit Agreement) and executive compensation amendments[236](index=236&type=chunk)
MultiPlan (MPLN) - 2021 Q3 - Earnings Call Presentation
2021-11-03 19:35
.പിMultiPlan. MultiPlan Q3 2021 Results and Business Update ■ November 3, 2021 Disclaimer Forward-Looking Statements This presentation includes statements that express our and our subsidiaries' 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 ...
MultiPlan (MPLN) - 2021 Q2 - Quarterly Report
2021-08-06 10:18
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 June 30, 2021 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 incorpo ...
MultiPlan (MPLN) - 2021 Q1 - Quarterly Report
2021-05-14 00:00
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, 2021 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) | Delaware | 84-3536151 | | --- | --- ...
MultiPlan (MPLN) - 2021 Q1 - Earnings Call Transcript
2021-05-13 17:35
MultiPlan Corporation (NYSE:MPLN) Q1 2021 Results Conference Call May 13, 2021 8:00 AM ET Company Participants Shawna Gasik - AVP, IR Mark Tabak - Chairman and CEO Dale White - President, Payor Markets David Redmond - CFO Conference Call Participants Josh Raskin - Nephron Research Daniel Grosslight - Citi Andrew Kugler - Goldman Sachs Operator Good day, and thank you for standing by. Welcome to the MultiPlan Corporation First Quarter 2021 Earnings Conference Call. At this time, all participants are in a lis ...
MultiPlan (MPLN) - 2020 Q4 - Annual Report
2021-03-16 20:14
Table of Contents Commission file number: 001-39228 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, 2020 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 o For the transition period from to MULTIPLAN CORPORATION (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction of in ...
MultiPlan (MPLN) - 2020 Q4 - Earnings Call Presentation
2021-03-10 14:26
. 1 MultiPlan Q4 and FY 2020 results and Business update L March 10, 2021 Disclaimer Forward-Looking Statements This presentation includes statements that express our and our subsidiaries' opinions, expectations, beliefs, plans, objectiv es, 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 "b ...