Claritev (CTEV) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue grew 6.6% year-over-year to $257.5 million, driven by Claims Intelligence Solutions, with Adjusted EBITDA up 1.1% to $155.8 million and net revenue retention at 106.6%.

• Bookings exceeded $70 million in the first half, on track for a $100 million full-year target, with 75–76% from upsell/cross-sell and five new client logos added.

• Digital transformation and AI initiatives, including the Vision 2030 program, are accelerating operational efficiency and client value.

• Leadership team is fully formed and executing with discipline for long-term growth.

• Net loss narrowed to $59.2 million from $62.6 million in Q2 2025, with operating income up 41.2% to $23.4 million.

Financial highlights

• Q2 2026 revenue: $257.5 million (+6.6% YoY); six-month revenue: $502.2 million (+6.2% YoY).

• Adjusted EBITDA for Q2 2026 was $155.8 million (60.5% margin), and $302.7 million for the first half.

• Operating cash flow for Q2 2026 was $92.7 million, up 51% year-over-year; free cash flow was $54.6 million, up 49%.

• Adjusted EPS for Q2 2026 was $1.41, compared to a net loss per share of $(3.49).

• Cash and equivalents at June 30, 2026: $14.4 million; total assets: $4.76 billion; total liabilities: $5.05 billion.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $1.00–$1.02 billion (4–6% growth); Adjusted EBITDA guidance increased to $610–$620 million (approx. 61% margin).

• Free cash flow guidance raised to $5–$15 million for 2026; capital spend guidance unchanged at $160–$170 million.

• Bookings expected to reach $100 million for the year, with pipeline exceeding $300 million.

• Management expects sufficient liquidity for the next twelve months, supported by cash flow and $273.6 million available under the revolving credit facility.

• Effective tax rate projected at 24–28%.