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CTEV

Claritev Corporation

CTEV

Claritev Corporation • NYSE
$54.07 ▼ -1.46% (-0.80)
Market Cap $893.54 M
52w High $74.07
52w Low $5.61
Dividend Yield 0%
P/E -2.59
Volume 70.30K
Outstanding Shares 16.53M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $245.959M ▲ $173.832M ▲ $-69.753M ▼ -28.36% ▼ $-4.23 ▼ $167.026M ▲
Q2-2025 $241.57M ▲ $164.169M ▲ $-62.64M ▲ -25.93% ▲ $-3.81 ▲ $128.833M ▲
Q1-2025 $231.33M ▼ $161.152M ▼ $-71.319M ▲ -30.83% ▲ $-4.38 ▲ $113.307M ▲
Q4-2024 $232.145M ▲ $216.37M ▼ $-137.965M ▲ -59.431% ▲ $-8.49 ▲ $4.896M ▲
Q3-2024 $230.495M $507.88M $-391.45M -169.83% $-24.25 $-227.288M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $50.645M ▼ $4.99B ▼ $5.092B ▼ $-101.835M ▼
Q2-2025 $56.39M ▲ $5.072B ▼ $5.112B ▲ $-39.908M ▼
Q1-2025 $23.129M ▲ $5.085B ▼ $5.07B ▲ $14.825M ▼
Q4-2024 $16.848M ▼ $5.151B ▼ $5.067B ▼ $84.022M ▼
Q3-2024 $86.598M $5.319B $5.112B $207.562M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-69.753M ▼ $19.857M ▼ $-22.87M ▲ $-13.63M ▼ $-16.643M ▼ $-16.346M ▼
Q2-2025 $-62.64M ▲ $61.237M ▲ $-24.623M ▲ $-3.226M ▼ $33.388M ▲ $36.614M ▲
Q1-2025 $-71.319M ▲ $-30.056M ▲ $-38.866M ▼ $73.15M ▲ $4.228M ▲ $-68.922M ▼
Q4-2024 $-137.965M ▲ $-34.028M ▼ $-30.434M ▲ $-3.034M ▲ $-67.496M ▼ $-64.462M ▼
Q3-2024 $-391.45M $72.842M $-31.7M $-3.143M $37.999M $41.142M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly flat for several years, which suggests the company is not yet in a clear growth phase. On the positive side, gross margins look healthy, indicating the core services are high value and not overly costly to deliver. However, profitability further down the income statement is very inconsistent. Claritev had only one clearly profitable year in the last five, with the most recent year showing a sharp swing back to a sizable operating and net loss. That pattern points to ongoing pressure from operating costs, potential restructuring or transformation spending, and limited room for error. Overall, the business model appears economically attractive at the gross margin level but not yet proven as sustainably profitable after all expenses.

Balance Sheet

Balance Sheet The balance sheet shows a business that is heavily financed with debt and has only a thin layer of equity remaining. Total assets have drifted down from earlier levels, and shareholder equity has been steadily eroded by losses, leaving a narrow cushion to absorb future shocks. Cash on hand is quite modest, especially when set against the size of the debt load, which has stayed high and relatively steady. The reverse stock split in 2024 is another sign that the company has wrestled with market confidence and share-price pressure. Together, this points to a leveraged capital structure with limited financial flexibility, where maintaining lender confidence and avoiding further balance sheet strain are key concerns.

Cash Flow

Cash Flow Cash flow paints a somewhat better picture than the income statement, but with emerging weaknesses. The company has consistently generated positive cash from operations, which suggests the underlying business throws off cash even when accounting profits are thin or negative. Free cash flow has generally been positive as well, helped by relatively modest spending on capital projects. That said, operating cash flow has been trending down over time, and the most recent year slipped close to break-even after investment needs. With a major transformation program planned and higher technology spending on the horizon, the company could see more pressure on free cash flow unless operating performance improves. In short, cash generation is a strength, but it is weakening and could be tested by upcoming investment demands and debt obligations.

Competitive Edge

Competitive Edge Claritev’s competitive position is built around scale, data, and relationships. It operates a very large network of healthcare providers and payors, giving it broad reach and making it harder for newcomers to replicate its position. Decades of accumulated claims data and specialized analytics tools create a meaningful barrier to entry, since rivals would need many years and substantial investment to match that insight. The company’s platforms and network-based services appear deeply embedded in client workflows, which raises switching costs and supports recurring business. On the other hand, Claritev faces legal and regulatory challenges tied to past pricing practices, as well as reputational risks that could affect relationships with insurers and providers. It also operates in a competitive space where payors, providers, and newer technology firms are all trying to build their own analytics and cost-management capabilities. The moat is real but not unassailable, and it depends heavily on continued innovation and careful navigation of legal and policy developments.

Innovation and R&D

Innovation and R&D Innovation is a clear strategic focus. Claritev is leaning heavily into advanced analytics, artificial intelligence, and machine learning to improve claim review, fraud detection, and pricing insights. Its branded platforms for benefits analytics, plan design, and pricing transparency have won industry recognition, suggesting they are viewed as differentiated offerings. Partnerships with large technology players, such as migrating core systems to a major cloud provider, aim to modernize the tech stack and improve scalability and client experience. The company is also using acquisitions and partnerships to expand capabilities and reach, including moves into international markets and AI-driven revenue cycle tools. The “Vision 2030” transformation program signals a long-term commitment to repositioning the business as a technology and data leader, but it will require sustained investment and disciplined execution. The main risk is that spending on transformation, AI, and new products runs ahead of the company’s ability to monetize these innovations and support them with its current balance sheet.

Summary

Claritev combines a strategically valuable position in healthcare data and networks with a challenging financial profile. The business enjoys strong gross economics, deep relationships across the healthcare system, and a sizable proprietary data asset that underpins its analytics and AI offerings. Its product suite and partnerships show a company actively trying to modernize and extend its relevance, with a long-term transformation plan that could strengthen its role in cost management and payment integrity. At the same time, recent results highlight fragile profitability, with a significant setback in the latest year, limited top-line growth, and heavy reliance on debt funding. Equity is thin, cash balances are low relative to obligations, and upcoming investment needs for technology and transformation could tighten the margin for error. Legal and regulatory overhangs add another layer of uncertainty. For anyone following the company, the central questions are whether Claritev can stabilize and grow earnings, gradually reduce balance sheet risk, and execute its innovation roadmap without overextending its financial resources.

NEWS

November 24, 2025 · 8:00 AM UTC

Claritev Corporation Announces Participation at Upcoming Conferences

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November 12, 2025 · 11:01 PM UTC

Claritev Corporation Announces Pricing of Offering of Class A Common Stock by Selling Stockholders

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November 12, 2025 · 4:10 PM UTC

Claritev Corporation Announces Public Offering of Class A Common Stock by Selling Stockholders

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November 7, 2025 · 6:00 AM UTC

Claritev Corporation Reports Third Quarter 2025 Results

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October 27, 2025 · 5:00 PM UTC

Claritev Invests in Klaim, Inc. to Accelerate Provider Payment Solutions Across the U.S. and MENA Region

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