$MSPR
MSP Recovery, Inc. Stock $mspr

$mspr Overview Financials Valuation SEC Filings Company Website

2022 Q3 Form 10-Q Financial Statement

#000095017022017118 Filed on August 12, 2022

Income Statement

Concept	2022 Q3	2022 Q2	2021 Q4
Revenue	$8.319M	$5.290M	$0.00
YoY Change
Cost Of Revenue	$1.160M	$694.0K	$190.0K
YoY Change
Gross Profit	$7.159M	$4.596M	$14.44M
YoY Change		36.79%
Gross Profit Margin	86.06%	86.88%
Selling, General & Admin	$20.51M	$32.87M	$21.26M
YoY Change		599.11%
% of Gross Profit	286.49%	715.08%	147.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$66.43M	$23.89M	$507.0K
YoY Change		13870.76%
% of Gross Profit	927.98%	519.8%	3.51%
Operating Expenses	$88.10M	$57.45M	$1.282M
YoY Change	25074.73%	1079.17%
Operating Profit	-$79.79M	-$52.16M	$13.15M
YoY Change	22697.93%	3349.67%
Interest Expense	$13.08M	$10.98M	$3.792M
YoY Change	1117.91%	64.65%
% of Operating Profit			28.83%
Other Income/Expense, Net	$63.14M	$39.00K	$0.00
YoY Change	5777.55%	-101.43%
Pretax Income	-$27.06M	-$77.45M	$2.510M
YoY Change	-3836.23%	963.87%
Income Tax	$0.00	-$326.0K	$0.00
% Of Pretax Income			0.0%
Net Earnings	-$463.0K	-$1.288M	$2.510M
YoY Change	-163.93%	-82.31%
Net Earnings / Revenue	-5.57%	-24.35%
Basic Earnings Per Share
Diluted Earnings Per Share	-$143.70	-$399.80	$85.38K
COMMON SHARES
Basic Shares Outstanding	66.14M
Diluted Shares Outstanding

Balance Sheet

Concept	2022 Q3	2022 Q2	2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$14.27M	$25.05M	$177.4K
YoY Change	3941.58%	4277.88%
Cash & Equivalents	$25.69M	$36.47M	$177.4K
Short-Term Investments
Other Short-Term Assets	$796.6M	$767.7M	$8.610K
YoY Change	1627586.96%	824965.02%
Inventory
Prepaid Expenses			$8.611K
Receivables	$7.525M	$901.0K
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$820.2M	$795.8M	$19.04M
YoY Change	203931.34%	119542.96%	1567.22%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.480M	$950.0K	$750.0K
YoY Change
Goodwill
YoY Change
Intangibles	$2.078B	$2.096B	$84.22M
YoY Change
Long-Term Investments	$0.00	$0.00	$0.00
YoY Change	-100.0%	-100.0%
Other Assets	$857.0K	$857.0K
YoY Change
Total Long-Term Assets	$5.755B	$5.771B	$84.97M
YoY Change	2401.88%	2409.15%	-63.06%
TOTAL ASSETS
Total Short-Term Assets	$820.2M	$795.8M	$19.04M
Total Long-Term Assets	$5.755B	$5.771B	$84.97M
Total Assets	$6.575B	$6.567B	$104.0M
YoY Change	2753.47%	2746.9%	-55.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$32.47M	$29.58M	$4.609M
YoY Change	1012.3%
Accrued Expenses			$3.985M
YoY Change			242.49%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$883.0M	$799.7M	$54.06M
YoY Change	30149.95%	28135.66%	4524.78%
LONG-TERM LIABILITIES
Long-Term Debt	$296.6M	$237.2M	$0.00
YoY Change
Other Long-Term Liabilities	$1.471M	$111.3M	$14.44M
YoY Change	-91.93%	476.91%
Total Long-Term Liabilities	$298.1M	$348.5M	$14.44M
YoY Change	1535.43%	1705.89%
TOTAL LIABILITIES
Total Short-Term Liabilities	$883.0M	$799.7M	$54.06M
Total Long-Term Liabilities	$298.1M	$348.5M	$14.44M
Total Liabilities	$1.181B	$1.148B	$255.4M
YoY Change	5485.56%	5088.51%	1030.93%
SHAREHOLDERS EQUITY
Retained Earnings	-$23.54M	-$23.07M	-$18.23M
YoY Change	13.51%	1003.76%	-14.96%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$178.4M	$164.5M	-$155.8M
YoY Change
Total Liabilities & Shareholders Equity	$6.575B	$6.567B	$104.0M
YoY Change	2753.47%	2746.9%	-55.01%

Cashflow Statement

Concept	2022 Q3	2022 Q2	2021 Q4
OPERATING ACTIVITIES
Net Income	-$463.0K	-$1.288M	$2.510M
YoY Change	-163.93%	-82.31%
Depreciation, Depletion And Amortization	$66.43M	$23.89M	$507.0K
YoY Change		13870.76%
Cash From Operating Activities	-$9.852M	-$64.10M	-$175.7K
YoY Change	4397.6%	27942.18%
INVESTING ACTIVITIES
Capital Expenditures	-$1.548M	-$882.0K	-$631.0K
YoY Change		197.97%
Acquisitions
YoY Change
Other Investing Activities	$0.00		$0.00
YoY Change
Cash From Investing Activities	-$1.548M	-$882.0K	$0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	623.0K	99.65M	0.000
YoY Change		-1828595.41%
NET CHANGE
Cash From Operating Activities	-9.852M	-64.10M	-175.7K
Cash From Investing Activities	-1.548M	-882.0K	0.000
Cash From Financing Activities	623.0K	99.65M	0.000
Net Change In Cash	-10.78M	34.67M	-175.7K
YoY Change	4819.88%	-14917.11%
FREE CASH FLOW
Cash From Operating Activities	-$9.852M	-$64.10M	-$175.7K
Capital Expenditures	-$1.548M	-$882.0K	-$631.0K
Free Cash Flow	-$8.304M	-$63.21M	$455.3K
YoY Change		-93847.59%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
	dei	Entity Central Index Key EntityCentralIndexKey	0001802450
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Amendment Flag AmendmentFlag	false
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1
CY2022Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2022-06-30
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	001-39445
CY2021Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
	dei	Entity Registrant Name EntityRegistrantName	MSP Recovery, Inc.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	84-4117825
	dei	Entity Address Address Line1 EntityAddressAddressLine1	2710 Le Jeune Road
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Floor 10
	dei	Entity Address City Or Town EntityAddressCityOrTown	Coral Gables
	dei	Entity Address State Or Province EntityAddressStateOrProvince	FL
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	33134
	dei	City Area Code CityAreaCode	305
	dei	Local Phone Number LocalPhoneNumber	614-2222
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	No
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
	dei	Entity Shell Company EntityShellCompany	false
	dei	Entity Bankruptcy Proceedings Reporting Current EntityBankruptcyProceedingsReportingCurrent	false
CY2022Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	66142649
CY2022Q2	us-gaap	Cash Cash	25045000
CY2021Q4	us-gaap	Cash Cash	1664000
CY2022Q2	us-gaap	Restricted Cash Current RestrictedCashCurrent	11420000
CY2022Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	901000
CY2022Q2	mspr	Affiliate Receivable AffiliateReceivable	2111000
CY2021Q4	mspr	Affiliate Receivable AffiliateReceivable	4070000
CY2022Q2	mspr	Indemnification Asset Current IndemnificationAssetCurrent	719413000
CY2022Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	36890000
CY2021Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	13304000
CY2022Q2	us-gaap	Assets Current AssetsCurrent	795780000
CY2021Q4	us-gaap	Assets Current AssetsCurrent	19038000
CY2022Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	950000
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	750000
CY2022Q2	us-gaap	Deferred Income Tax Assets Net DeferredIncomeTaxAssetsNet	857000
CY2022Q2	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	2095735000
CY2021Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	84218000
CY2022Q2	mspr	Investment In Rights To Claim Recovery Cash Flows InvestmentInRightsToClaimRecoveryCashFlows	3673610000
CY2022Q2	us-gaap	Assets Assets	6566932000
CY2021Q4	us-gaap	Assets Assets	104006000
CY2022Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	29575000
CY2021Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	4609000
CY2022Q2	mspr	Affiliate Payable AffiliatePayable	20202000
CY2021Q4	mspr	Affiliate Payable AffiliatePayable	45252000
CY2022Q2	mspr	Commission Payable CommissionPayable	476000
CY2021Q4	mspr	Commission Payable CommissionPayable	465000
CY2022Q2	mspr	Deferred Service Fee Income DeferredServiceFeeIncome	249000
CY2021Q4	mspr	Deferred Service Fee Income DeferredServiceFeeIncome	249000
CY2022Q2	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	9003000
CY2022Q2	mspr	Warrant Liability Current WarrantLiabilityCurrent	9708000
CY2022Q2	mspr	Guaranty Obligation Current GuarantyObligationCurrent	719413000
CY2022Q2	mspr	Cost Of Claim Recoveries CostOfClaimRecoveries	694000
	mspr	Cost Of Claim Recoveries CostOfClaimRecoveries	701000
CY2022Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	11057000
	mspr	Cost Of Claim Recoveries CostOfClaimRecoveries	8000
	mspr	Total Claims Recovery TotalClaimsRecovery	6789000
CY2021Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	3489000
CY2022Q2	us-gaap	Liabilities Current LiabilitiesCurrent	799683000
CY2021Q4	us-gaap	Liabilities Current LiabilitiesCurrent	54064000
CY2022Q2	mspr	Claims Financing Obligation Notes Payable ClaimsFinancingObligationNotesPayable	111395000
CY2021Q4	mspr	Claims Financing Obligation Notes Payable ClaimsFinancingObligationNotesPayable	106805000
CY2022Q2	us-gaap	Due To Related Parties Current And Noncurrent DueToRelatedPartiesCurrentAndNoncurrent	125759000
CY2022Q2	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	111324000
CY2021Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	94545000
CY2022Q2	us-gaap	Liabilities Liabilities	1148161000
CY2021Q4	us-gaap	Liabilities Liabilities	255414000
CY2022Q2	us-gaap	Temporary Equity Shares Outstanding TemporaryEquitySharesOutstanding	1129589
CY2022Q2	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	2417000
CY2022Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	187269000
CY2021Q4	us-gaap	Members Equity MembersEquity	-155756000
CY2022Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-23074000
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	164517000
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	-155756000
CY2022Q2	us-gaap	Minority Interest MinorityInterest	5251837000
CY2021Q4	us-gaap	Minority Interest MinorityInterest	4348000
CY2022Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	5416354000
CY2021Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-151408000
CY2022Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	6566932000
CY2021Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	104006000
CY2022Q2	mspr	Claims Recovery Income ClaimsRecoveryIncome	1319000
	mspr	Claims Recovery Income ClaimsRecoveryIncome	1428000
	mspr	Claims Recovery Income ClaimsRecoveryIncome	15000
CY2022Q2	mspr	Claims Recovery Service Income ClaimsRecoveryServiceIncome	3971000
CY2021Q2	mspr	Claims Recovery Service Income ClaimsRecoveryServiceIncome	3360000
	mspr	Claims Recovery Service Income ClaimsRecoveryServiceIncome	12047000
	mspr	Claims Recovery Service Income ClaimsRecoveryServiceIncome	6774000
CY2022Q2	mspr	Total Claims Recovery TotalClaimsRecovery	5290000
CY2021Q2	mspr	Total Claims Recovery TotalClaimsRecovery	3360000
	mspr	Total Claims Recovery TotalClaimsRecovery	13475000
CY2022Q2	mspr	Claims Amortization Expense ClaimsAmortizationExpense	23818000
CY2021Q2	mspr	Claims Amortization Expense ClaimsAmortizationExpense	36000
	mspr	Claims Amortization Expense ClaimsAmortizationExpense	26535000
	mspr	Claims Amortization Expense ClaimsAmortizationExpense	67000
CY2022Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	5982000
CY2021Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2723000
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	10428000
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	5336000
CY2022Q2	us-gaap	Professional Fees ProfessionalFees	3118000
CY2021Q2	us-gaap	Professional Fees ProfessionalFees	1970000
	us-gaap	Professional Fees ProfessionalFees	5056000
	us-gaap	Professional Fees ProfessionalFees	3067000
CY2022Q2	us-gaap	Legal Fees LegalFees	23765000
CY2021Q2	us-gaap	Legal Fees LegalFees	8000
	us-gaap	Legal Fees LegalFees	26237000
	us-gaap	Legal Fees LegalFees	30000
CY2022Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	72000
CY2021Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	135000
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	151000
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	167000
CY2022Q2	us-gaap	Operating Expenses OperatingExpenses	57449000
CY2021Q2	us-gaap	Operating Expenses OperatingExpenses	4872000
	us-gaap	Operating Expenses OperatingExpenses	69108000
	us-gaap	Operating Expenses OperatingExpenses	8675000
CY2022Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-52159000
CY2021Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-1512000
	us-gaap	Operating Income Loss OperatingIncomeLoss	-55633000
	us-gaap	Operating Income Loss OperatingIncomeLoss	-1886000
CY2022Q2	us-gaap	Interest Expense InterestExpense	10977000
CY2021Q2	us-gaap	Interest Expense InterestExpense	6667000
	us-gaap	Interest Expense InterestExpense	21392000
	us-gaap	Interest Expense InterestExpense	12589000
CY2022Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	39000
CY2021Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	899000
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	37000
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	1323000
CY2022Q2	mspr	Change In Fair Value Of Warrant And Derivative Liabilities ChangeInFairValueOfWarrantAndDerivativeLiabilities	14353000
	mspr	Change In Fair Value Of Warrant And Derivative Liabilities ChangeInFairValueOfWarrantAndDerivativeLiabilities	14353000
CY2022Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-77450000
CY2021Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-7280000
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-91341000
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-13152000
CY2022Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-326000
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-326000
CY2022Q2	us-gaap	Profit Loss ProfitLoss	-77124000
CY2021Q2	us-gaap	Profit Loss ProfitLoss	-7280000
	us-gaap	Profit Loss ProfitLoss	-91015000
	us-gaap	Profit Loss ProfitLoss	-13152000
CY2022Q2	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-75836000
	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-89727000
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-1288000
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-7280000
	us-gaap	Net Income Loss NetIncomeLoss	-1288000
	us-gaap	Net Income Loss NetIncomeLoss	-13152000
CY2021Q2	mspr	Related Party Legal Expense RelatedPartyLegalExpense	0
	mspr	Related Party Legal Expense RelatedPartyLegalExpense	0
CY2022Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-165401000
CY2022Q2	us-gaap	Partners Capital Account Contributions PartnersCapitalAccountContributions	15000
CY2022Q2	us-gaap	Partners Capital Account Distributions PartnersCapitalAccountDistributions	45000
CY2022Q2	mspr	Net Loss Prior To Recapitalization Transaction NetLossPriorToRecapitalizationTransaction	-14749000
CY2022Q2	us-gaap	Stock Issued During Period Value Acquisitions StockIssuedDuringPeriodValueAcquisitions	21786000
CY2022Q2	mspr	Adjustment To Additional Paid In Capital For Value Of Derivative On Temporary Equity AdjustmentToAdditionalPaidInCapitalForValueOfDerivativeOnTemporaryEquity	9003000
CY2022Q2	mspr	Stock Issued During Period Value Conversion Of Warrants StockIssuedDuringPeriodValueConversionOfWarrants	8177000
CY2022Q2	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	23164000
CY2022Q2	mspr	Net Income Loss Subsequent To Recapitalization Transaction NetIncomeLossSubsequentToRecapitalizationTransaction	-62376000
CY2022Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	5416354000
CY2021Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-151408000
	us-gaap	Partners Capital Account Contributions PartnersCapitalAccountContributions	15000
	us-gaap	Partners Capital Account Distributions PartnersCapitalAccountDistributions	147000
	mspr	Net Loss Prior To Recapitalization Transaction NetLossPriorToRecapitalizationTransaction	-28640000
	us-gaap	Stock Issued During Period Value Acquisitions StockIssuedDuringPeriodValueAcquisitions	21786000
	mspr	Adjustment To Additional Paid In Capital For Value Of Derivative On Temporary Equity AdjustmentToAdditionalPaidInCapitalForValueOfDerivativeOnTemporaryEquity	9003000
	mspr	Stock Issued During Period Value Conversion Of Warrants StockIssuedDuringPeriodValueConversionOfWarrants	8177000
	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	23164000
	mspr	Net Income Loss Subsequent To Recapitalization Transaction NetIncomeLossSubsequentToRecapitalizationTransaction	-62376000
CY2022Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	5416354000
CY2021Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-121764000
CY2021Q2	us-gaap	Partners Capital Account Contributions PartnersCapitalAccountContributions	1000
CY2021Q2	us-gaap	Partners Capital Account Distributions PartnersCapitalAccountDistributions	259000
CY2021Q2	us-gaap	Profit Loss ProfitLoss	-7280000
CY2021Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-129302000
CY2020Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-115847000
	us-gaap	Partners Capital Account Contributions PartnersCapitalAccountContributions	227000
	us-gaap	Partners Capital Account Distributions PartnersCapitalAccountDistributions	530000
	us-gaap	Profit Loss ProfitLoss	-13152000
CY2021Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-129302000
	us-gaap	Profit Loss ProfitLoss	-91015000
	us-gaap	Profit Loss ProfitLoss	-13152000
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	151000
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	167000
	mspr	Claims Amortization Expense ClaimsAmortizationExpense	26535000
	mspr	Claims Amortization Expense ClaimsAmortizationExpense	67000
	us-gaap	Paid In Kind Interest PaidInKindInterest	21369000
	us-gaap	Paid In Kind Interest PaidInKindInterest	12577000
	mspr	Change In Fair Value Of Derivatives ChangeInFairValueOfDerivatives	9003000
	us-gaap	Deferred Income Taxes And Tax Credits DeferredIncomeTaxesAndTaxCredits	-857000
	us-gaap	Share Based Compensation ShareBasedCompensation	20055000
	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	5350000
	mspr	Adjustment For Paycheck Protection Program Loan Forgiveness AdjustmentForPaycheckProtectionProgramLoanForgiveness	958000
	us-gaap	Equity Securities Fv Ni Realized Gain Loss EquitySecuritiesFvNiRealizedGainLoss	335000
	us-gaap	Unrealized Gain Loss On Investments UnrealizedGainLossOnInvestments	114000
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	901000
	mspr	Increase Decease In Affiliates Receivable IncreaseDeceaseInAffiliatesReceivable	-1959000
	mspr	Increase Decease In Affiliates Receivable IncreaseDeceaseInAffiliatesReceivable	1173000
	mspr	Increase Decease In Affiliates Payable IncreaseDeceaseInAffiliatesPayable	25050000
	mspr	Increase Decease In Affiliates Payable IncreaseDeceaseInAffiliatesPayable	112000
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	36838000
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	4129000
	mspr	Increase Decrease In Commission Payable IncreaseDecreaseInCommissionPayable	10000
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	9317000
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	1215000
	mspr	Increase Decrease In Deferred Service Fee Income IncreaseDecreaseInDeferredServiceFeeIncome	-249000
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-60912000
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-6196000
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	315000
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	323000
	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	2700000
	us-gaap	Proceeds From Sale Of Equity Securities Fv Ni ProceedsFromSaleOfEquitySecuritiesFvNi	2577000
	us-gaap	Payments To Acquire Equity Securities Fv Ni PaymentsToAcquireEquitySecuritiesFvNi	4056000
	mspr	Purchase Of Securities To Cover Short Position PurchaseOfSecuritiesToCoverShortPosition	1770000
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-3015000
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-3572000
	mspr	Proceeds From Business Combination ProceedsFromBusinessCombination	12009000
	mspr	Transaction Costs Incurred For The Business Combination TransactionCostsIncurredForTheBusinessCombination	49638000
	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	125759000
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	8181000
	mspr	Proceeds From Issuance Of Temporary Equity ProceedsFromIssuanceOfTemporaryEquity	2417000
	us-gaap	Proceeds From Contributions From Parent ProceedsFromContributionsFromParent	227000
	us-gaap	Payments Of Capital Distribution PaymentsOfCapitalDistribution	530000
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	98728000
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-303000
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	34801000
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-10071000
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1664000
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	11879000
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	36465000
CY2021Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1808000
	mspr	Intangible Assets Financed By Note Payable IntangibleAssetsFinancedByNotePayable	500000
	mspr	Purchase Of Intangible Asset Through Issuance Of Class A Common Stock PurchaseOfIntangibleAssetThroughIssuanceOfClassACommonStock	10000000
	mspr	Payment Of Professional Fees Through Issuance Of Class A Common Stock PaymentOfProfessionalFeesThroughIssuanceOfClassACommonStock	611000
	mspr	Transaction Costs Incurred Included In Accounts Payable And Accrued Liabilities TransactionCostsIncurredIncludedInAccountsPayableAndAccruedLiabilities	29692000
	us-gaap	Interest Paid Net InterestPaidNet	12000
	us-gaap	Nature Of Operations NatureOfOperations	<p id="footnotes" style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Note 1. DESCRIPTION OF BUSINESS</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">On May 23, 2022 (the “Closing Date”), MSP Recovery, Inc., a Delaware corporation (formerly known as Lionheart Acquisition Corporation II (“LCAP,” the “Company,” or “MSP”) consummated the previously announced business combination pursuant to that certain Membership Interest Purchase Agreement, dated as of July 11, 2021 (as amended, the “MIPA”), by and among the Company, Lionheart II Holdings, LLC, a wholly owned subsidiary of the Company, MSP Recovery, LLC and combined and consolidated subsidiaries ("Legacy MSP"), the members of Legacy MSP (the “Members”), and John H. Ruiz, in his capacity as the representative of the Members (the “Members’ Representative”). Pursuant to the MIPA, the Members sold and assigned all of their membership interests in Legacy MSP to the Company in exchange for non-economic voting shares of Class V common stock, par value $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.0001</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">, of the Company (“Class V Common Stock”) and non-voting economic Class B Units of the Company (“Class B Units,” and each pair consisting of one share of Class V Common Stock and one Class B Unit, an “Up-C Unit”) (such transaction, the “Business Combination”). The Up-C Units are convertible into Class A Common Stock of the Company at the discretion of holder of the Up-C Unit. See </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Note 3, Business Combination </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">for details. Subsequent to the Closing Date, the Company's sole asset is its equity interest in MSP Recovery, LLC. The Company is the managing member and therefore consolidates Legacy MSP.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Legacy MSP was organized in 2014 as a Medicaid and Medicare Secondary Pay Act recovery specialist. The Company utilizes its proprietary internal data analytics platform to review health claims assigned by secondary payers such as Health Plans, Management Service Organizations (“MSO”), providers of medical services and Independent Physicians Associations. This platform allows the Company to identify claims cost recovery rights with potential recovery paths where claims either should not have been paid by the secondary payers or should have been reimbursed by third-party entities.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">MSP seeks the assignment of recovery rights from secondary payers by acquiring the recovery rights to claims from secondary payers via Claims Cost Recovery Agreements (“CCRAs”). Prior to executing a CCRA, the Company utilizes its proprietary internal data analytics platform to review the set of claims and identify claims with probable recovery paths. MSP’s assets are these irrevocable assignments of health claims recovery rights that are automatic, all-encompassing and superior to other interests supported by Federal and State laws and regulations. MSP’s operations are primarily conducted in the U.S. and Puerto Rico.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Investment Capacity Agreement</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">On September 27, 2021, the Company entered into an </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Investment Capacity Agreement (the “ICA”) providing for potential future transactions regarding select healthcare claims recovery interests with its investment partner, Virage Capital Management LP (“Virage”), which transactions may include the sale of claims by MSP. The ICA provides that the maximum value of such claims will be $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">3</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> billion.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:4.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">When the Company takes an assignment, the Company takes an assignment of the entire recovery but often has a contractual obligation to pay the assignor 50% of any recoveries. This </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">50</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">% interest typically is retained by the assignor (the “Retained Interest”), although in some cases, the Company has acquired all of the recoveries, and the applicable assignor has not kept any Retained Interest. The Retained Interest is not an asset of the Company, but an obligation to pay these assignors, with the Company keeping the other </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">50</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">% interest of any recoveries. Virage’s funding in connection with future transactions generally will be used to purchase Retained Interests from existing assignors or new MSP assignors, although its funds can also be used to buy 50% of the recoveries from the Company, in the event the applicable assignor did not retain any Retained Interest. In connection with transactions consummated under the ICA, the Company may receive certain fees, including a finder's fee for identifying the recoveries and a servicing fee for servicing the claims.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:4.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Pursuant to the ICA, the Company will assist Virage in acquiring these Retained Interests for a cash price. Virage will be paid the recovery generated from the purchased Retained Interests when received through litigation or settlements. The ICA is separate and distinct from Virage’s equity investment in the Company.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">LifeWallet</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">On January 10, 2022, the Company announced the launch of LifeWallet LLC (“LifeWallet”). LifeWallet is being designed to help first responders and healthcare providers quickly and easily access patient medical histories. LifeWallet is part of MSP Recovery’s Chase to Pay platform, providing real-time analytics at the point of care, helping identify the primary insurer, assisting providers in receiving reasonable and customary rates for accident-related treatment, shortening the Company's collection time frame, and increasing revenue visibility and predictability. The Company absorbed part of the technology behind LifeWallet through an employment agreement with the developer of the technology. As such as of June 30, 2022, the Company's investment related to LifeWallet included in the condensed consolidated balance sheets was limited to activity and expenses incurred during the six months ended June 30, 2022. Through the d</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">ate the financial statements were issued, LifeWallet has committed to advertising costs within the next 12 months of approximately $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2.2</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Committed Equity Facility</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">On May 17, 2022, the Company entered into a Company Common Stock Purchase Agreement (the “Purchase Agreement”) with an affiliate of Cantor Fitzgerald (“CF”</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">). Pursuant to the Purchase Agreement, after the closing of the Business Combination, the Company will have the right to sell to CF from time to time at its option up to $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> billion in Class A common stock shares, subject to the terms, conditions and limitations set forth in the Purchase Agreement.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Sales of the shares of the Company’s common stock to CF under the Purchase Agreement, and the timing of any such sales, will be determined by the Company from time to time in its sole discretion and will depend on a variety of factors, including, among other things, market conditions, the trading price of the common stock, as well as determinations by the Company about the use of proceeds of such common stock sales. The net proceeds from any such sales under the Purchase Agreement will depend on the frequency with, and the price at, which the shares of common stock are sold to CF.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Upon the initial satisfaction of the conditions to CF’s obligation to purchase shares of common stock set forth under the Purchase Agreement, including the completion of due diligence activities and registering shares through an S-1 filing, the Company will have the right, but not the obligation, from time to time, at its sole discretion and on the terms and subject to the limitations contained in the Purchase Agreement, until no later than the first day of the month following the 36 month anniversary of the date that the registration statement of the shares is declared effective, to direct CF to purchase up to a specified maximum amount of common stock as set forth in the Purchase Agreement by delivering written notice to CF prior to the commencement of trading on any trading day. The purchase price of the common stock that the Company elects to sell to CF pursuant to the Purchase Agreement will be </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">98</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">% of the volume-weighted average price of the common stock during the applicable purchase date on which the Company has timely delivered a written notice to CF, directing it to purchase common stock under the Purchase Agreement.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Assignment and Sale of Proceeds Agreement</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">On June 30, 2022, the Company entered into an Assignment and Sale of Proceeds Agreement (the “Assignment Agreement”) and a Recovery Services Agreement (the “Services Agreement” and collectively, the “Agreements”) with the Prudent Group (“Prudent”) in order to monetize up to $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">250</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million of the value of the Company’s net recovery interest in claim demand letters that the Company has commenced sending to insurers who admitted they had primary payer responsibility for the underlying accidents to the federal government (“MSPR’s Net Recovery Proceeds”).<br/></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Pursuant to the Agreements, at the Company’s sole and absolute discretion, the Company has the right to direct Prudent to acquire, on a non-recourse basis, a percentage of MSPR’s Net Recovery Proceeds, up to an aggregate of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">250</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million, at a purchase price of </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">90</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">% of MSPR's Net Recovery Proceeds of such claim.<br/></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Under the Services Agreement, the Company will service and recover on the demand letters and will retain any revenues generated in excess of the amount received from Prudent, plus up to an </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">18</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">% annual return on the amount Prudent paid for MSPR’s Net Recovery Proceeds. Prudent may terminate the Services Agreement upon sixty (60) days prior written notice to the Company.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The Company anticipates the first close to be approximately $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million and to be finalized in the third quarter of 2022.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Liquidity</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">As an early stage growth company, the Company has incurred substantial net losses since inception. Our liquidity will depend on our ability to generate substantial claims recovery income and claims recovery services income in the near future. Our principal liquidity needs have been, and will continue to be, capital expenditures, working capital and claims financing obligation. Our capital expenditures support investments in our underlying infrastructure to enhance our solutions and technology for future growth. We expect our capital expenditures to increase primarily due to investments in our technology stack. Our strategy includes the expansion of our existing solutions and the development of new solutions, which will require cash expenditures over the next several years and the Company anticipates will be funded primarily by cash provided by operating activities and financing activities through resources noted below. We also expect our operating expenses to increase as we hire additional employees to support to the claim recovery team. We expect these investments to be a key driver of our long-term growth and competitiveness but to negatively impact our free cash flow.<br/><br/>The Company anticipates funding to be available from the CF Purchase Agreeme</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">nt, Prudent Assignment Agreement and the ICA, as noted above. Additionally, on June 16, 2022, the Company executed a promissory note with John H. Ruiz and Frank C. Quesada, the Company’s Chief Executive Officer and director and Chief Legal Officer and director, respectively, to provide operating cash to the Company. The aggregate principal amount was $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">112.8</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million and bears interest at an annual rate of </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">4</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">%, which is payable in kind. The promissory note matures on the </span><span style="font-size:10.0pt;font-family:Times New Roman;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">four year</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> anniversary of issuance. A portion of the proceeds under the MSP Principal Promissory Note in an amount equal to $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">36.5</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million was advanced to MSP Recovery Law Firm, an affiliate of certain Members (the “Law Firm”) for certain operating expenses as contemplated by the Legal Services Agreement. Actual results, including sources and uses of cash, may differ from our current estimates due to the inherent uncertainty involved in making those estimates and any such differences may impact the Company’s ability to continue as a going concern in the future.</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"><br/></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
	us-gaap	Use Of Estimates UseOfEstimates	<p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Estimates and Assumptions</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of 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 considering 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 condensed consolidated financial statements include but are not limited to claims recovery income and claims recovery service income recognition, recoverability of long-lived assets and cost of claims recoveries.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Concentration of credit risk and Off-Balance Sheet Risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Cash and cash equivalents and affiliate receivable are financial instruments that are potentially subject to concentrations of credit risk. See Note 13, </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Related Party</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">, for disclosure of affiliate receivables. The Company’s cash and cash equivalents and restricted cash are deposited in accounts at large financial institutions, and amounts may exceed federally insured limits. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. The Company has no other financial instruments with off-balance-sheet risk of loss.</span></p>
CY2022Q2	us-gaap	Equity Method Investments EquityMethodInvestments	0
CY2021Q4	us-gaap	Equity Method Investments EquityMethodInvestments	0
CY2022Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1906000
	us-gaap	Finite Lived Intangible Asset Useful Life FiniteLivedIntangibleAssetUsefulLife	P8Y
CY2021Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1555000
	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	0
	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	0
CY2022Q2	mspr	Number Of Holding Investments NumberOfHoldingInvestments	3
CY2022Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	950000
CY2022Q2	us-gaap	Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1 ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1	0.0001
	mspr	Period Of New Warrants Exercisable Closing Date PeriodOfNewWarrantsExercisableClosingDate	P30D
CY2022Q2	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	956000
CY2021Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	805000
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	750000
CY2022Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	72000
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	151000
CY2021Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	135000
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	167000
	mspr	Lease Expiration Period LeaseExpirationPeriod	November 2023
CY2022Q2	us-gaap	Operating Lease Expense OperatingLeaseExpense	193000
	us-gaap	Operating Lease Expense OperatingLeaseExpense	385000
CY2021Q2	us-gaap	Operating Lease Expense OperatingLeaseExpense	199000
	us-gaap	Operating Lease Expense OperatingLeaseExpense	404000
CY2021Q4	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	115000
CY2021Q4	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	217000
CY2021Q4	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	332000
	mspr	Percentage Of Expected Recoveries From Claims PercentageOfExpectedRecoveriesFromClaims	0.88
CY2021Q2	mspr	Number Of Equity Shares Acquired To Cover The Short Position NumberOfEquitySharesAcquiredToCoverTheShortPosition	100000
	mspr	Number Of Equity Shares Acquired To Cover The Short Position NumberOfEquitySharesAcquiredToCoverTheShortPosition	100000
CY2021Q2	mspr	Value Of Shares To Cover Short Position ValueOfSharesToCoverShortPosition	1800000
	mspr	Value Of Shares To Cover Short Position ValueOfSharesToCoverShortPosition	1800000
CY2022Q2	us-gaap	Equity Securities Fv Ni Current And Noncurrent EquitySecuritiesFvNiCurrentAndNoncurrent	0
CY2021Q4	us-gaap	Equity Securities Fv Ni Current And Noncurrent EquitySecuritiesFvNiCurrentAndNoncurrent	0
CY2022Q2	us-gaap	Profit Loss ProfitLoss	-77124000
	us-gaap	Profit Loss ProfitLoss	-91015000
CY2022Q2	mspr	Net Income Loss Attributable To Noncontrolling Interest Pre Business Combination NetIncomeLossAttributableToNoncontrollingInterestPreBusinessCombination	-14748000
	mspr	Net Income Loss Attributable To Noncontrolling Interest Pre Business Combination NetIncomeLossAttributableToNoncontrollingInterestPreBusinessCombination	-28639000
CY2022Q2	mspr	Net Income Loss Attributable To Noncontrolling Interest Post Business Combination NetIncomeLossAttributableToNoncontrollingInterestPostBusinessCombination	-61088000
	mspr	Net Income Loss Attributable To Noncontrolling Interest Post Business Combination NetIncomeLossAttributableToNoncontrollingInterestPostBusinessCombination	-61088000
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-1288000
	us-gaap	Net Income Loss NetIncomeLoss	-1288000

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2022 Q3 Form 10-Q Financial Statement

#000095017022017118 Filed on August 12, 2022

Income Statement

Balance Sheet

Cashflow Statement

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$MSPR MSP Recovery, Inc. Stock $mspr

2022 Q3 Form 10-Q Financial Statement

#000095017022017118 Filed on August 12, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MSPR
MSP Recovery, Inc. Stock $mspr