Claritev Corp

claritev.com

What Do They Do?

Prices and negotiates medical claims through claims intelligence services, builds provider networks, and checks claims and premiums for errors for insurers, plan administrators, and employers.

How Do They Make Money?

Healthcare payers pay for savings identified on claims, monthly coverage for members, or network projects. Claim fees are earned when savings are transferred to the payer, while member fees cover each month.

revenue

Segment	Share	How money arrives
Claims Intelligence Solutions Mix	66%	Mix
Network Solutions Mix	21%	Mix
Payment and Revenue Integrity Solutions Usage-based	12%	Usage-based

Who Are Their Customers?

Health insurers and plan administrators are typically direct clients; they take Claritev's solutions to employers and plan sponsors, whose members and patients benefit. Employers may also work directly with Claritev or through brokers and consultants.

Customers above 10% of revenue, FY2025

of revenue from two customers (29%, 10%)

FY2024: 44% from two customers

Do Revenues Turn Into Profits?

No. It lost $284.3M in FY2025.

Operating income, FY2025

3% of revenue

▲ Now profitable vs FY2024 (−$1.4B, −149%)

Net income, FY2025

−29% of revenue

▼ −83% (Loss) vs FY2024 (−$1.6B, −177%)

Free cash flow, FY2025

−1% of revenue

▲ +17% (Loss) vs FY2024 (−$10.5M, −1%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +7%; vs $241.6M in Q2 FY2025
Net income: ▼ −5% (Loss); vs −$62.6M in Q2 FY2025

Claims Intelligence Solutions share of revenue vs 65.0% in Q2 FY2025

Aug 7, 2026 Raised full-year revenue and adjusted EBITDA guidance

Shrinking. Revenue fell 14% in 4 years, from $1.1B in FY2021 to $965.4M in FY2025, about 4% a year.

Separate data products The latest report includes data and analytics products for pricing transparency, plan design and network decisions, alongside claim pricing, network and payment accuracy services also described in the older report.

Broader cost-management scope The latest report describes managing the use of medical services as a goal alongside lowering per-service costs and avoiding payment errors; the older report says its services targeted the latter two approaches.

Revenue over time

Claims Intelligence Solutions Network Solutions Payment and Revenue Integrity Solutions

$1B$500M$0

FY2023 FY2024 FY2025

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