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Claritev (CTEV) investor relations material
Claritev Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved a significant turnaround in 2025, returning to profitable growth ahead of expectations, with full-year revenue up 3.7% to $965.4M and Q4 revenue up 6.2% to $246.6M.
Adjusted EBITDA for FY 2025 increased 4.5% to $602.6M, with Q4 Adjusted EBITDA at $151.3M (61.4% margin).
Net revenue retention rates remained strong at 103.7% for FY 2025 and 106.2% for Q4 2025.
Major modernization initiatives included migration to Oracle Cloud Infrastructure, digital transformation, and AI integration.
Rebranded as Claritev, expanded executive leadership, and launched new solutions and partnerships.
Financial highlights
Q4 2025 free cash flow was $36.4M, with FY 2025 free cash flow at $(12.3)M and unlevered free cash flow at $270.5M.
Q4 2025 revenue was $246.6M, up 6.2% year-over-year; full-year revenue reached $965.4M, up 3.7%.
Adjusted EBITDA margin for FY 2025 was 62.4%, with Q4 at 61.4%.
Adjusted EPS for FY 2025 was $5.73; net loss for FY 2025 was $(284.3)M, reflecting significant non-recurring adjustments.
Processed $179.8B in claim charges in FY 2025, identifying $25.0B in potential medical cost savings.
Outlook and guidance
2026 revenue guidance is $980M–$1B (2%–4% growth); excluding $18M in one-time 2025 revenue, growth is modeled at 4%–6%.
Adjusted EBITDA guidance for 2026 is $605M–$615M (61%–62% margin), with normalized EBITDA growth of 3.5%–5%.
Free cash flow for 2026 is forecasted between $0 and $10M; capital expenditures projected at $160M–$170M.
Board approved a $75M, five-year share repurchase program, capped at $20M per year.
Anticipates strong double-digit ACV bookings growth in 2026, with revenue conversion ramping into late 2026 and 2027.
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