$MPLN
MultiPlan Corp

2024 Q4 Form 10-Q Financial Statement

#000179322924000149 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $230.5M
YoY Change -5.07%
Cost Of Revenue $60.83M
YoY Change -0.12%
Gross Profit $169.7M
YoY Change -6.72%
Gross Profit Margin 73.61%
Selling, General & Admin $37.73M
YoY Change 3.36%
% of Gross Profit 22.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.57M
YoY Change 15.25%
% of Gross Profit 13.3%
Operating Expenses $146.3M
YoY Change 2.86%
Operating Profit -$338.2M
YoY Change -955.82%
Interest Expense -$80.46M
YoY Change -195.44%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$418.7M
YoY Change 1249.68%
Income Tax -$27.22M
% Of Pretax Income
Net Earnings -$391.5M
YoY Change 1521.25%
Net Earnings / Revenue -169.83%
Basic Earnings Per Share -$24.25
Diluted Earnings Per Share -$24.25
COMMON SHARES
Basic Shares Outstanding 16.17M shares 645.7M shares
Diluted Shares Outstanding 16.14M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $86.60M
YoY Change -14.51%
Cash & Equivalents $86.60M
Short-Term Investments
Other Short-Term Assets $1.719M
YoY Change -85.51%
Inventory
Prepaid Expenses
Receivables $82.13M
Other Receivables $0.00
Total Short-Term Assets $211.5M
YoY Change -0.06%
LONG-TERM ASSETS
Property, Plant & Equipment $306.4M
YoY Change 10.67%
Goodwill $2.403B
YoY Change -37.24%
Intangibles $2.367B
YoY Change -12.96%
Long-Term Investments
YoY Change
Other Assets $31.30M
YoY Change 48.55%
Total Long-Term Assets $5.108B
YoY Change -25.39%
TOTAL ASSETS
Total Short-Term Assets $211.5M
Total Long-Term Assets $5.108B
Total Assets $5.319B
YoY Change -24.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.55M
YoY Change 56.55%
Accrued Expenses $157.6M
YoY Change 9.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $13.25M
YoY Change 0.0%
Total Short-Term Liabilities $201.5M
YoY Change 17.36%
LONG-TERM LIABILITIES
Long-Term Debt $4.510B
YoY Change -1.05%
Other Long-Term Liabilities $11.68M
YoY Change 129.1%
Total Long-Term Liabilities $11.68M
YoY Change 129.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $201.5M
Total Long-Term Liabilities $11.68M
Total Liabilities $5.112B
YoY Change -3.7%
SHAREHOLDERS EQUITY
Retained Earnings -$2.007B
YoY Change 328.96%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $207.6M
YoY Change
Total Liabilities & Shareholders Equity $5.319B
YoY Change -24.63%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$391.5M
YoY Change 1521.25%
Depreciation, Depletion And Amortization $22.57M
YoY Change 15.25%
Cash From Operating Activities $72.84M
YoY Change 1.03%
INVESTING ACTIVITIES
Capital Expenditures $31.70M
YoY Change 41.52%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$31.70M
YoY Change 44.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.143M
YoY Change -91.79%
NET CHANGE
Cash From Operating Activities 72.84M
Cash From Investing Activities -31.70M
Cash From Financing Activities -3.143M
Net Change In Cash 38.00M
YoY Change 222.03%
FREE CASH FLOW
Cash From Operating Activities $72.84M
Capital Expenditures $31.70M
Free Cash Flow $41.14M
YoY Change -17.22%

Facts In Submission

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dei Entity Incorporation State Country Code
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DE
dei Entity Address Postal Zip Code
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dei City Area Code
CityAreaCode
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dei Local Phone Number
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dei Security12b Title
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CY2024Q3 us-gaap Finance Lease Liability Noncurrent Statement Of Financial Position Extensible List
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84-3536151
dei Trading Symbol
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MPLN
dei Security Exchange Name
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NYSE
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us-gaap Use Of Estimates
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<div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting periods. Actual results could differ from the Company's estimates. Estimates are periodically reviewed in light of </span></div>changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, revenue recognition, recoverability of long-lived assets, goodwill, valuation of Private Placement Warrants and Unvested Founder Shares, valuation of stock-based compensation awards and income taxes.
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us-gaap Derivatives Methods Of Accounting Hedging Derivatives
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<div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Derivatives</span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Interest Rate Swap Agreements</span></div><div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to interest rate risk on its floating-rate debt. In September 2023, the Company entered into interest rate swap agreements to effectively convert some of its floating-rate debt to a fixed-rate basis. The Company entered into these agreements to reduce the variability of the cash flows in interest payments associated with the Company’s floating-rate debt, thus reducing the impact of interest rate changes on future interest payment cash flows. </span></div>The Company elected to apply the hedge accounting rules in accordance with authoritative guidance for the agreements entered into during the twelve months ended December 31, 2023. Changes in the fair value of interest rate swap agreements designated as cash flow hedges are recorded as a component of accumulated other comprehensive income within stockholders’ equity and are subsequently reclassified into interest expense in the same period(s) during which the hedged transaction affects "Earnings".
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us-gaap Earnings Per Share Diluted
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CY2024Q3 ecd Rule10b51 Arr Adopted Flag
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false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001793229-24-000149-index-headers.html Edgar Link pending
0001793229-24-000149-index.html Edgar Link pending
0001793229-24-000149.txt Edgar Link pending
0001793229-24-000149-xbrl.zip Edgar Link pending
exhibit311q32024.htm Edgar Link pending
exhibit312q32024.htm Edgar Link pending
exhibit321q32024.htm Edgar Link pending
exhibit322q32024.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mpln-20240930.htm Edgar Link pending
mpln-20240930.xsd Edgar Link pending
mpln-20240930_g1.jpg Edgar Link pending
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mpln-20240930_lab.xml Edgar Link unprocessable
mpln-20240930_pre.xml Edgar Link unprocessable
mpln-20240930_htm.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
mpln-20240930_cal.xml Edgar Link unprocessable
mpln-20240930_def.xml Edgar Link unprocessable