<span item_type="fundamental" item_id="0e38e4c51e33222ea3c7c618a86f8f32" counter_id="ST/US/CTEV" env="prod"></span><span item_type="announcement" item_id="620336449340051329" env="prod"></span><p>Revenue: As of FY2025, the actual value is USD 965.41 B, beating the estimate of USD 960.09 M.</p><p>EPS: As of FY2025, the actual value is USD -17.29, missing the estimate of USD -16.2332.</p><p>EBIT: As of FY2025, the actual value is USD 419.23 B.</p><p></p><h4>Segment Revenue</h4><h5>Claims Intelligence Solutions Revenue</h5><p>In 2025, Claims Intelligence Solutions generated $639,861 thousand in revenue, marking a 0.8% increase compared to 2024, primarily driven by Data iSight and Financial Negotiation services, partially offset by a decrease in Surprise Bill Services due to client and program attrition.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> The revenue breakdown for 2025 included PSAV at $578,121 thousand, PEPM at $41,991 thousand, and Other at $19,749 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> For 2024, revenue was $634,767 thousand, an increase of 1.4% from 2023, with PSAV at $584,760 thousand, PEPM at $37,603 thousand, and Other at $12,404 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> In 2023, the segment reported $625,754 thousand in revenue, with PSAV at $591,605 thousand, PEPM at $29,396 thousand, and Other at $4,753 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h5>Network Solutions Revenue</h5><p>Network Solutions revenue in 2025 was $206,685 thousand, an 11.6% increase over 2024, mainly due to an $18.0 million one-time revenue from a newly established channel partner in the Property and Casualty service line.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> The 2025 revenue consisted of PSAV at $114,249 thousand, PEPM at $47,149 thousand, and Other at $45,287 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> In 2024, revenue decreased by -17.1% to $185,281 thousand compared to 2023, with PSAV at $127,983 thousand, PEPM at $50,012 thousand, and Other at $7,286 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> For 2023, the segment’s revenue was $223,394 thousand, comprising PSAV of $158,989 thousand, PEPM of $56,809 thousand, and Other of $7,596 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h5>Payment and Revenue Integrity Solutions Revenue</h5><p>Payment and Revenue Integrity Solutions recorded $118,867 thousand in revenue for 2025, a 7.5% increase from 2024, driven primarily by growth in Clinical Review and Payment Accuracy solutions, partially offset by a decrease in Revenue Integrity solutions.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> The 2025 revenue included PSAV of $118,355 thousand and PEPM of $512 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> In 2024, revenue was $110,576 thousand, a -1.6% decrease from 2023, with PSAV at $110,110 thousand and PEPM at $466 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> The 2023 revenue totaled $112,376 thousand, with PSAV at $111,962 thousand and PEPM at $414 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h4>Total Revenue</h4><p>Total revenue for Claritev Corporation in 2025 reached $965,413 thousand, representing a 3.7% increase compared to 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> In 2024, total revenue was $930,624 thousand, a -3.2% decrease from 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> Total revenue for 2023 was $961,524 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h4>Operational Metrics (Company-wide)</h4><h5>Costs of Services</h5><p>Costs of services increased to $253,411 thousand in 2025, up 5.9% from $239,404 thousand in 2024, mainly due to a $5.7 million rise in compensation expense and a $3.2 million increase in access and bill review fees.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> In 2024, costs of services were $239,404 thousand, a 1.7% increase from $235,468 thousand in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h5>General and Administrative Expenses</h5><p>General and administrative expenses significantly increased by 46.8% to $221,518 thousand in 2025 from $150,891 thousand in 2024, primarily due to $45.0 million in Vision 2030 transformation costs, $16.9 million in antitrust-related legal costs, and a $7.2 million increase in stock compensation.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> For 2024, these expenses were $150,891 thousand, a 5.4% increase from $143,182 thousand in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h5>Operating Income (Loss)</h5><p>Claritev Corporation reported an operating income of $28,765 thousand in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> This follows an operating loss of - $1,389,931 thousand in 2024 and an operating income of $161,982 thousand in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h4>Cash Flow</h4><h5>Net Cash Flows Provided by (Used in) Operating Activities</h5><p>Net cash flows provided by operating activities were $117,324 thousand in 2025, $107,616 thousand in 2024, and $171,720 thousand in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h5>Net Cash Flows Provided by (Used in) Investing Activities</h5><p>Net cash flows used in investing activities were - $121,018 thousand in 2025, - $118,123 thousand in 2024, and - $249,792 thousand in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h5>Net Cash Flows Provided by (Used in) Financing Activities</h5><p>Net cash flows provided by (used in) financing activities were $2,363 thousand in 2025, - $41,315 thousand in 2024, and - $180,993 thousand in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h5>Net Decrease in Cash, Cash Equivalents and Restricted Cash</h5><p>The net decrease in cash, cash equivalents, and restricted cash was - $1,331 thousand in 2025, - $51,822 thousand in 2024, and - $259,065 thousand in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h4>Unique Metrics</h4><h5>Medical Charges Processed and Potential Savings by Category</h5><p>For Commercial Health Plans, medical charges processed were $86.5 billion in 2025, $80.2 billion in 2024, and $75.1 billion in 2023, with potential medical cost savings of $23.2 billion, $23.2 billion, and $21.7 billion respectively.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> The potential savings as a percentage of charges were 26.8% in 2025, 28.9% in 2024, and 28.9% in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><p>For Payment &amp; Revenue Integrity, Property &amp; Casualty, and Other, medical charges processed were $93.3 billion in 2025, $97.4 billion in 2024, and $93.6 billion in 2023, with potential medical cost savings of $1.8 billion, $1.4 billion, and $1.3 billion respectively.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> The potential savings as a percentage of charges were 1.9% in 2025, 1.4% in 2024, and 1.4% in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><p>Total medical charges processed amounted to $179.8 billion in 2025, $177.6 billion in 2024, and $168.7 billion in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> Total potential medical cost savings were $25.0 billion in 2025, $24.6 billion in 2024, and $23.0 billion in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> The total potential savings as a percentage of charges were 13.9% in 2025, 13.9% in 2024, and 13.6% in 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h5>Client Concentration</h5><p>Two clients accounted for 29.2% and 10.4% of Claritev Corporation’s total revenues for the year ended December 31, 2025, respectively.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> In the prior year, two clients accounted for 27.7% and 15.9% of total revenues for the year ended December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p><h4>Outlook / Guidance</h4><p>Claritev Corporation’s Vision 2030 strategic plan focuses on enhancing core offerings, accelerating product expansion, entering new geographic markets, and achieving financial and operational excellence.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> The company has branded 2025 as “THE TURN,” emphasizing year-over-year revenue growth.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span> Looking ahead, 2026 is branded as “THE WAY UP,” with a focus on sustaining company momentum across all aspects of Vision 2030.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1793229/000179322926000017/ctev-20251231.htm"></span></p>

Claritev | 10-K: FY2025 Revenue Beats Estimate at USD 965.41 B