Slide 1: Claritev Q1 2025 Results and Business Update
Claritev Q1 2025 Results and Business Update May 8, 2025 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation includes statements that express our management’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.”
Slide 3: Financial Highlights
Financial Highlights During the First Quarter 2025: 98.6% Total Net Revenue Retention Rate2,3 Successfully refinanced debt, extending maturities by nearly three years Executed brand launch at ViVE Conference $142.1M Adjusted EBITDA 61.4% Adjusted EBITDA Closed $13.7M in annual contract value (ACV) d
Slide 4: Claritev and Burjeel Holdings
Claritev and Burjeel Holdings Memorandum of Understanding (MOU) with intent to (i) leverage Claritev’s Payment and Revenue Integrity solutions for the Middle East and North Africa regional payer market and (ii) create a joint product roadmap to offer advanced revenue cycle management (RCM) capabilit
Slide 5: Q1 2025 Results
Q1 2025 Results $ in millions Quarter-over-Quarter Year-over-Year Q1 2025 Q4 2024 Q1 2025 Q1 2024 (0.4%) (1.4)% Revenues 18.0%) 0.4% (3.2)% Adjusted EBITDA1 Adjusted EBITDA Margin2 61.4% 61.0% 61.4% 62.6% 1 See reconciliation of non-GAAP measures included in Appendix 2 Adjusted EBITDA Margin is defi
Slide 6: Revenue by Service Line
Revenue by Service Line $ in millions Current Quarter Sequential Quarter Prior Year Quarter Service Line Q1 2025 Q4 2024 % Change Q1 2024 % Change Analytics-Based $153.4 $157.1 (2.3)% $160.1 (4.2)% Network-Based $46.9 $47.3 (0.8)% $46.2 1.6% Payment & Revenue Integrity $31.0 $27.8 11.5% $28.3 9.7% T
Slide 7: Medical Charges Processed and Identified Potential Savings
Medical Charges Processed and Identified Potential Savings $ in billions Current Quarter Sequential Quarter Prior Year Quarter Q1 2025 Q4 2024 % Change Q1 2024 % Change Commercial Health Plans Current “Core” Medical charges processed $20.9 $21.5 (3.1)% $18.3 14.1% Business Potential medical cost sav
Slide 8: Claritev Share of Savings
Claritev Share of Savings $ in millions Current Sequential Quarter Prior Year Quarter Quarter Key Drivers of Identified Savings Volume and Q1 2025 Q4 2024 Variance Q1 2024 Variance Revenue as a % of Savings PSAV1 • In our core PSAV revenue Identified potential savings $4,287 $4,356 $(71) $4,303 $(16
Slide 9: Claritev PSAV Analysis - Rate/Volume/Mix
Claritev PSAV Analysis - Rate/Volume/Mix * PSAV Claim Volume (000’s) Rate/Volume/Mix – ($M’s) Revenue per Claim - $(5) 8,000 -17% (-2.6%) 7,000 6,226 -8% 6,002 5,668 6,000 5,629 5,186 5,188 5,048 4,945 4,796 5,000 $5 4,000 $204 3,000 $(10) 2,000 1,000 0 $199 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 F
Slide 10: Reaffirming FY 2025 Guidance
Reaffirming FY 2025 Guidance FY2025 Comments Revenue (2)% to Flat vs. 2024 Focus on sequential quarterly growth progression while strategic client impact lapses Roughly flat Adjusted EBITDA dollars vs. 2024 as we complete Adjusted EBITDA Margin1 62.5% to 63.5% ‘the TURN’ Includes incremental Vision
Slide 11: Capital Allocation Prioritization
Capital Allocation Prioritization With the closing of the debt refinancing in January 2025, our primary and priority use of capital is investment in our business to drive organic growth. Organic investments to HIGHEST PRIORITY fuel Vision 2030 Plan HIGH PRIORITY Debt paydown Value creating M&A LOW P
Slide 12: Appendix
é3 claritev” Appendix
Slide 13: Balance Sheet
Balance Sheet $ in millions DEBT STRUCTURE (Outstanding Principal Balances) 3/31/2025 Rate Maturity 2025 Revolving Credit Facility $ 80 SOFR+3.75% DEC-29 New First-Out First Lien Term Loans 325 SOFR+3.75% DEC-30 New Second-Out First Lien Term Loans 1,144 SOFR+4.60%+CSA1 DEC-30 New Second-Out First L
Slide 14: Reconciliation of GAAP and Non-GAAP Items
Reconciliation of GAAP and Non-GAAP Items $ in thousands, except share data Three Months Ended 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 Net loss $ (71,319) $ (137,965) $ (391,450) $ (576,727) $ (539,689) Adjustments: Interest expense 91,636 81,252 81,792 81,129 82,198 Interest income (488)
Slide 15: Reconciliation of GAAP and Non-GAAP Items, continued
Reconciliation of GAAP and Non-GAAP Items, continued $ in thousands, except share and per share data Three Months Ended 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 Net (loss) income $ (71,319) $ (137,965) $ (391,450) $ (576,727) $ (539,689) Adjustments: Amortization of intangible assets 85,97
Slide 16: Reconciliation of GAAP and Non-GAAP Items, continued
Reconciliation of GAAP and Non-GAAP Items, continued $ in thousands Three Months Ended 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 Net cash provided by operating activities $ (30,056) $ (33,413) $ 72,842 $ 18,471 $ 49,716 Purchases of property and equipment (38,866) (30,434) (31,700) (25,445)