Claritev Corporation, together with its affiliated companies, provides advanced data analytics and technology-enabled services focused on cost management, payment optimization, and revenue ...
Claritev Corporation (formerly MultiPlan Corporation) is a leading healthcare technology, data, and insights company headquartered in McLean, Virginia. Founded in 1980, the company has evolved over four decades to become a pivotal player in healthcare cost management and payment accuracy. Claritev's mission is to bring clarity to complex healthcare data, ...Claritev Corporation (formerly MultiPlan Corporation) is a leading healthcare technology, data, and insights company headquartered in McLean, Virginia. Founded in 1980, the company has evolved over four decades to become a pivotal player in healthcare cost management and payment accuracy. Claritev's mission is to bring clarity to complex healthcare data, enabling better decision-making for payers, providers, and patients alike. The company offers a comprehensive suite of services that leverage advanced analytics and technology to reduce medical expenses, recover overpayments, and optimize payment processes.
Claritev's primary business segments include analytics-driven cost management solutions that identify billing overcharges and facilitate reimbursement negotiations; network-based services that secure discounted rates through contracts with healthcare providers and administer provider networks; and payment and revenue integrity services that detect and eliminate erroneous charges and recover underpaid premiums. Additionally, Claritev provides data and decision science solutions utilizing descriptive, predictive, and prescriptive analytics to refine benefit plans, improve clinical outcomes, and lower overall healthcare costs. The company also handles business-to-business healthcare payment processing.
With a clientele that includes major national and regional insurance carriers, Blue Cross and Blue Shield organizations, provider-sponsored health plans, third-party administrators (TPAs), and self-insured plans, Claritev processes millions of claims and helps save billions in healthcare spending. As of the latest data, the company employs approximately 3,000 full-time employees and generates annual revenue in the range of hundreds of millions. Financially, Claritev has a market cap around $555 million, with substantial debt from its leveraged buyout history, resulting in negative equity. Despite financial challenges, the company maintains high gross margins (35.4%) and EBITDA margins (34.1%), reflecting its strong operational efficiency.
Under the leadership of CEO Travis S. Dalton, who took the helm in March 2024, Claritev is undergoing a transformation, rebranding from MultiPlan to Claritev in February 2025 to reflect its increased investment in technology and data capabilities. The company is committed to corporate responsibility, including sustainability, stakeholder engagement, and community impact. With its focus on healthcare affordability and transparency, Claritev aims to answer one of healthcare's hardest questions: How can healthcare become more affordable and transparent for all?
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$965.4M
+3.7%
+5.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-284.3M
+82.7%
+19.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+27.6%
-62.8%
-65.5%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+4.7%
+103.1%
+233.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-29.4%
+83.3%
+23.5%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-12.3M
-16.8%
+159.0%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-1.3%
-12.6%
+156.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
-2663.8%
-149.3%
—
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.86x
+4.6%
+48.9%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Ladies and gentlemen, welcome to the Claritev Corporation Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Also, please note that this call is being recorded. I would now like to turn the call over to Todd Friedman, Head of Investor Relations. Todd, you may begin.
Todd Friedman: Thank you, Mark. Good morning, everyone, and welcome to Claritev's Second Quarter 2026 Earnings Call. Joining me today are Travis Dalton, President and Chief Executive Officer; and Doug Garis, Chief Financial Officer. During our call, we will refer to the supplemental slide deck that is available on the Investors portion of our website along with the second quarter 2026 earnings press release that we issued earlier this morning. Our remarks and responses to questions today will include forward-looking statements. These forward-looking statements represent management's beliefs and expectations only as of the date of this call. Actual results may differ materially from these forward-looking statements due to a number of risks. A summary of these risks can be found on the second page of the supplemental slide deck and a more complete description in our annual report on Form 10-K and 10-Q and other documents that we file with the SEC. We'll also be referring to several non-GAAP measures, which we believe provide investors with a more complete understanding of Claritev's underlying operating results. An explanation of these non-GAAP measures and the reconciliations to the comparable GAAP measures can be found in the earnings press release and in the supplemental slide deck. And with that, I would now like to turn the call over to Travis.
Travis Dalton: Good morning. Thank you for joining us. We're pleased to announce another strong quarter for Claritev and continued progress on our turnaround journey. You are what your record says you are, and our results demonstrate that our strategy is working, our execution is strengthening, growth is returning, and we are building forward momentum across the business. The hard work and discipline over the last 2 years of laying the foundation of clarity, alignment, focus resulted in the turn last year, which has positioned us to take advantage of the opportunities in front of us. At our Investor Day in March, we introduced 2026 as the year of the way up, which is a return to sustainable growth in our multiyear transformation. The first half of the year has demonstrated that our strategy of driving horizontal solutions in vertical markets is working. In addition to focusing on our core client solutions and attacking new markets, we're building leaders in a culture of growth at the company. I'm most proud of the way our people have embraced change and new opportunities to impact health care. We also have made thoughtful and smart investments in our technology platforms, data architecture and talent over the last 2 years. Our technology modernization positions us to quickly adapt and harness the power of new …
