Claritev (CTEV) Canaccord Genuity's 46th Annual Growth Conference summary

Business overview and transformation

• Operates in claims intelligence, provider network, and payment revenue integrity, serving employers, payers, and TPAs.

• Launched a services business to integrate solutions across horizontal and vertical strategies.

• Underwent significant management changes in the last three to four years, with a new leadership team driving transformation.

• Vision 2030 focuses on digital transformation, operational excellence, and business realignment, aiming for completion by 2028.

• Migrated tech stack to Oracle Cloud and is rewriting 400 applications to be cloud and AI native.

Financial performance and growth

• Achieved five consecutive quarters of growth, with Q2 marking the strongest revenue, EBITDA, and free cash flow in years.

• Booked $74 million in new business in the first half of the year, with a multi nine-figure sales funnel.

• Pipeline is up 50% year-over-year, with $300 million in active opportunities, $100 million from new verticals.

• Confident in reaching the top end of the $80–$100 million bookings target for the year.

• Segment-focused sales strategy implemented, with leaders for payer, TPA, provider, public sector, and international channels.

Market expansion and verticals

• Won significant contracts, including a top three health system and the World Trade Center Foundation.

• TPA segment now represents about 20% of revenue, with a focus on becoming the end-to-end technology provider.

• Recognized as a leader in payment and revenue integrity by Everest Group.

• New verticals and public sector opportunities are driving pipeline growth.