MultiPlan (US:MPLN)2025-05-08 10:04Financial Performance - Q1 2025 revenues were $231.3 million, a decrease of 1.4% compared to $234.5 million in Q1 2024[7] - Net loss for Q1 2025 was $71.3 million, significantly improved from a net loss of $539.7 million in Q1 2024[7] - Adjusted EBITDA for Q1 2025 was $142.1 million, with an Adjusted EBITDA margin of 61.4%, compared to $146.8 million in Q1 2024[6][7] - Operating income for Q1 2025 was $9,742, compared to a loss of $486,436 in Q1 2024[32] - Net loss for Q1 2025 was $71,319, significantly improved from a net loss of $539,689 in Q1 2024[32] - Adjusted EBITDA for Q1 2025 was $142,069, slightly down from $146,790 in Q1 2024[36] - Total expenses for Q1 2025 were $221,588, a significant decrease from $720,944 in Q1 2024[32] Cash and Liquidity - The company ended Q1 2025 with $23.1 million in unrestricted cash and cash equivalents[7] - Cash and cash equivalents at the end of Q1 2025 were $23,129, an increase from $16,848 at the end of Q4 2024[29] - Free Cash Flow for Q1 2025 was $(68,922), a decline from $19,172 in Q1 2024[38] - Free Cash Flow is expected to range from $(65) million to $(75) million for FY 2025[8] Guidance and Projections - Claritev reaffirms its full-year 2025 guidance, expecting revenues to decline by 2% to remain flat compared to FY 2024[8] - The company anticipates an Adjusted EBITDA margin of 62.5% to 63.5% for FY 2025[8] - Capital expenditures are projected to be between $155 million and $165 million for FY 2025[8] Market Activities - The company processed approximately $42.9 billion in claim charges during Q1 2025, identifying potential medical cost savings of approximately $6.2 billion[7] - Claritev has formed strategic alliances with Oracle, J2 Health, and Burjeel Holdings to expand its market presence[4] Asset and Liability Management - Total current assets increased to $184,835 in Q1 2025 from $175,515 in Q4 2024[29] - Total liabilities remained stable at $5,069,699 in Q1 2025 compared to $5,066,805 in Q4 2024[29] - The Adjusted Cash Conversion Ratio for Q1 2025 was 9%, down from 54% in Q1 2024[38]