Claritev (CTEV) Investor Day 2026 summary

Strategic vision and transformation

• Pursuing a multi-year transformation focused on transparency, affordability, and access, with a unique network and technology-driven approach to reduce friction in healthcare.

• Vision 2030 targets long-term growth, innovation, and expansion into new markets, supported by a refreshed leadership team, rebranding, and five new market verticals.

• Investing $20M–$35M annually in technology modernization through 2028, aiming for a 30–35% economic return post-transformation.

• Prioritizing organic investments, debt paydown, and value-creating M&A to fuel Vision 2030, with capital allocation focused on tech investment and deleveraging.

• Targeting sustained growth, diversified markets, and a scalable, data-driven operating model, with reduced reliance on top 10 customers by 10–12% over 18 months.

Product innovation and AI strategy

• Launched and expanded BenInsights and CompleteVue platforms, with 30+ new features and 18+ new solutions planned, focusing on actionable analytics, claims intelligence, and risk management.

• AI and machine learning are embedded across products and operations, with over 50 models in production, driving automation, predictive analytics, and operational efficiency.

• AI-driven tools like ProPricer and Surprise Bill Services deliver higher negotiation success rates and automate manual processes, improving productivity and client outcomes.

• Technology modernization, including migration to Oracle Cloud, has improved performance, enabled real-time data access, and is expected to yield a 30–35% economic return.

• Continued investment in technology and AI to accelerate innovation and expand into underpenetrated markets, with a product roadmap centered on AI and data analytics.

Financial guidance and growth outlook

• FY 2026 revenue guidance is $980M–$1B, with adjusted EBITDA of $605M–$615M and capital spend of $160M–$170M.

• Projecting 4–6% revenue CAGR through 2028, with adjusted EBITDA margin of 61–62% and a long-term goal to achieve the Rule of 70 by 2030.

• Levered free cash flow expected to rise from $0–$10M in 2026 to over $225M by 2030, with net leverage declining from 7.5x to ~5.0x.

• Revenue mix is shifting toward more diversified, recurring streams, with PSAV revenue declining as a percentage but remaining a core, high-margin business.

• Bookings reached $67.3M in 2025, with 30% from new clients and 70% from upsell/cross-sell, and a growing sales funnel supporting future revenue conversion.