MultiPlan (US:MPLN)2025-11-07 11:00Financial 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]