olivLaw · US equity research
Claritev Corporation CTEV
Services-Business Services, NEC · SIC 7389 · Vertical: Services-Business Services, NEC (SIC 7389)
Claritev Corporation is a technology, data and insights company that works with US healthcare payers to lower the cost of certain medical services and improve payment accuracy. It matters now because healthcare spending is rising quickly, and in the second quarter of 2026 the company reported revenues of $257.5 million, up 6.6%, alongside a net loss of $59.2 million.
At the close of 04 Nov 2026, Claritev Corporation (CTEV) stock was 21.67 USD (+3.19% on the day), with market capitalisation 367.3 m USD, beta 1.48, 52-week range 13.47–69.25 USD. Latest reported quarter (Q2 2026): revenue of 257.5 m USD (+6.6% YoY), net income of -59.2 m USD, diluted EPS -3.49 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 39.2
- weak (30–45)
- Bollinger (20, 2)
- 21.06 – 25.15
- in the lower half of the band · %B 0.15 · band width 17.7%
- SMA 50 / 200
- 28.13 / 25.55
- mixed trend
- MACD (12, 26, 9)
- -1.26 / -1.45
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −12.2% | −1.1% | −11.1 pp | — |
| 3 months | −17.1% | −0.5% | −16.6 pp | — |
| 6 months | −18.1% | +4.4% | −22.5 pp | — |
| Year to date | −49.3% | +12.3% | −61.6 pp | — |
| 1 year | −65.5% | +13.5% | −79.1 pp | −4.0% |
| 3 years | −67.2% | +76.4% | −143.6 pp | −6.4% |
| 5 years | −86.3% | +63.7% | −150.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 230.5 m | 232.1 m | 231.3 m | 241.6 m | 246.0 m | 246.6 m | 244.7 m | 257.5 m |
| Cost of revenue | 60.8 m | 57.1 m | 60.4 m | 60.8 m | 62.1 m | 70.1 m | 69.1 m | 67.7 m |
| Operating income | -338.2 m | -41.4 m | 9.7 m | 16.6 m | 10.1 m | -7.6 m | 6.6 m | 23.4 m |
| Interest expense | 81.8 m | 81.3 m | 91.6 m | 99.7 m | 101.2 m | 99.4 m | 99.5 m | 100.3 m |
| Pre-tax income | -418.7 m | -186.1 m | -89.9 m | -82.9 m | -93.4 m | -106.9 m | -92.7 m | -76.6 m |
| Income tax | -27.2 m | -48.2 m | -18.5 m | -20.3 m | -23.6 m | -26.3 m | -19.2 m | -17.4 m |
| Net income | -391.5 m | -138.0 m | -71.3 m | -62.6 m | -69.8 m | -80.6 m | -73.6 m | -59.2 m |
| Diluted EPS | -24.25 | -8.53 ≈ | -4.38 | -3.81 | -4.23 | -4.87 ≈ | -4.41 | -3.49 |
| Operating cash flow | 72.8 m ≈ | -33.4 m | -30.1 m | 61.2 m ≈ | 19.9 m ≈ | 66.3 m | -45.8 m | 92.7 m ≈ |
| Capex | 31.7 m ≈ | 30.4 m | 38.9 m | 24.6 m ≈ | 36.2 m ≈ | 29.9 m | 46.8 m | 38.1 m ≈ |
| Share repurchases | 0 | 0 | 0 | 0 ≈ | 0 ≈ | 0 | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.0 bn | 982.9 m | 937.8 m | 1.1 bn | 1.1 bn | 961.5 m | 930.6 m | 965.4 m |
| Revenue YoY | unavailable | −5.6% | −4.6% | +19.2% | −3.4% | −10.9% | −3.2% | +3.7% |
| Net income | 36.2 m | 9.7 m | -520.6 m | 102.1 m | -572.9 m | -91.7 m | -1.6 bn | -284.3 m |
| Net income YoY | unavailable | −73.2% | −5,461.1% | unavailable | −661.2% | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | 0.02 | -1.11 | 0.16 | -0.90 | -5.69 | -101.92 | -17.30 |
| Diluted EPS YoY | unavailable | unavailable | −5,650.0% | unavailable | −662.5% | unavailable | unavailable | unavailable |
| net % | 3.5% | 1.0% | -55.5% | 9.1% | -53.1% | -9.5% | -176.9% | -29.4% |
| Free cash flow | 228.7 m | 217.9 m | 306.6 m | 320.1 m | 282.6 m | 62.9 m | -10.5 m | -12.3 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 16.8 m USD
- Financial debt
- 4.6 bn USD
- Net debt
- 4.6 bn USD
- Equity
- -167.2 m USD
- Total assets
- 4.9 bn USD
- Debt / equity
- unavailable
- Current ratio
- 0.86x
- ROE
- unavailable
- ROA
- -5.7%
- FCF margin
- -1.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 937.8 m | 1.1 bn | 1.1 bn | 961.5 m | 930.6 m | 965.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | 318.7 m | 175.3 m | 204.1 m | 235.5 m | 239.4 m | 253.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | 619.1 m ≈ | 942.3 m ≈ | 875.6 m ≈ | 726.1 m ≈ | 691.2 m ≈ | 712.0 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Operating income | -131.8 m | 386.1 m | -362.7 m | 162.0 m | -1.4 bn | 28.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Interest expense | 335.6 m | 267.5 m | 303.4 m | 333.2 m | 326.4 m | 392.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | 135.5 m | 135.5 m | -560.7 m | -107.1 m | -1.8 bn | -373.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | 33.4 m | 33.4 m | 12.2 m | -15.4 m | -124.9 m | -88.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | -520.6 m | 102.1 m | -572.9 m | -91.7 m | -1.6 bn | -284.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | -1.11 | 0.16 | -0.90 | -5.69 | -101.92 | -17.30 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 470.8 m | 651.5 m | 638.9 m | 16.1 m | 16.1 m | 16.4 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 126.8 m | 185.3 m | 334.0 m | 71.5 m | 16.8 m | 16.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Receivables | 63.2 m | 99.9 m | 78.9 m | 76.6 m | 89.8 m | 127.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 208.9 m | 319.3 m | 446.7 m | 193.6 m | 175.5 m | 224.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Goodwill | 4.3 bn | 4.4 bn | 3.7 bn | 3.8 bn | 2.4 bn | 2.4 bn | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 3.6 bn | 3.3 bn | 2.9 bn | 2.6 bn | 2.2 bn | 1.9 bn | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 8.3 bn | 8.2 bn | 7.4 bn | 7.0 bn | 5.2 bn | 4.9 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 15.3 m | 13.0 m | 13.3 m | 19.6 m | 86.3 m | 60.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Short-term debt | 0 | 13.3 m | 13.3 m | 13.3 m | 13.3 m | 14.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | — | 5.0 bn | 4.8 bn | 4.6 bn | 4.6 bn | 4.6 bn | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 112.5 m | 141.9 m | 175.8 m | 166.7 m | 213.8 m | 261.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 5.7 bn | 5.9 bn | 5.6 bn | 5.3 bn | 5.1 bn | 5.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 2.6 bn † | 2.3 bn † | 1.8 bn | 1.7 bn | 84.0 m | -167.2 m | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 377.4 m | 404.7 m | 372.4 m | 171.7 m | 107.6 m | 117.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 70.8 m | 84.6 m | 89.7 m | 108.9 m | 118.1 m | 129.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | 306.6 m ≈ | 320.1 m ≈ | 282.6 m ≈ | 62.9 m ≈ | -10.5 m ≈ | -12.3 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -210.8 m | -228.4 m | -104.4 m | -249.8 m | -118.1 m | -121.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | -61.6 m | -114.7 m | -115.7 m | -181.0 m | -41.3 m | 2.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | 101.1 m | 100.0 m | 0 | 15.2 m | 10.4 m | 0 | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 39.6% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 367.3 m USD
Key indicators
Coverage and freshness
Score by group
40% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 115.04 – 927.79 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)115.04 – 927.79 (Mid 307.93)WACC 5.4% · starting FCFF 318.4 m USD · terminal value share of EV 87%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -28.3%
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 39.6% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -28.5% | 13 (vs peers) | 16% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -3.7% | 0 (on a fixed band) | 21% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 0.1x | 0 (on a fixed band) | 16% |
| Current ratio · Balance sheet | 1.0x | 16 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -4.9% | 0 (on a fixed band) | 21% |
| Shareholder yield (distributions) · Returns | 1.0% | 14 (on a fixed band) | 16% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet7/100 · 2/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partial13/100 · 1/3 factors with a value
- Returns· partial14/100 · 1/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CLARITEV CORPORATION (CTEV). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 965.4 m USD in 2025; YoY growth 3.7%; net margin -28.5%.
The estimated value range is 115.04–927.79 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 307.93 USD, the price of 21.67 USD leaves a potential of 1,321.0% (value / price − 1) and a margin of safety of 93.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 39.6% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- The price is below the estimated value range
What contradicts it
- Net margin: -28.5%
- Revenue CAGR 3Y: -3.7%
- Interest coverage: 0.1x
- Current ratio: 1.0x
- FCF yield: -4.9%
- Shareholder yield (distributions): 1.0%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Services-Business Services, NEC (SIC 7389) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| UBERUber Technologies, Inc. | 142.7 bn | 41.3 | 12.4% | 6.1% | +18.3% | −20% / +24% |
| MELIMercadoLibre, Inc. | 88.2 bn | 47.3 | 27.5% | 5.3% | +39.1% | −16% / +7% |
| EBAYeBay Inc. | 54.9 bn | 27.2 | 46.6% | 16.9% | +7.9% | +51% / +205% |
| PYPLPayPal Holdings, Inc. | 50.0 bn | 11.5 | 23.8% | 13.8% | +4.3% | −4% / +4% |
| MSCIMsci Inc. | 48.2 bn | 35.7 | — | 40.3% | +9.7% | +20% / +29% |
| FISVFiserv, Inc. | 33.0 bn | — | -17.0% | -18.9% | +3.6% | +1% / −52% |
| CPAYCorpay, Inc | 27.5 bn | 25.4 | 30.5% | 22.7% | +13.9% | +42% / +74% |
| GPNGlobal Payments Inc. | 25.4 bn | — | -4.1% | -9.1% | −0.4% | +27% / −17% |
| BRBroadridge Financial Solutions, Inc. | 21.4 bn | 20.9 | 40.2% | 13.9% | +8.5% | −17% / −2% |
| RBARB Global, Inc | 17.6 bn | 39.9 | 8.8% | 10.0% | +7.2% | −3% / +49% |
| FISFidelity National Information Services, Inc. | 15.3 bn | 4.4 | 23.0% | 26.8% | +5.4% | −55% / −49% |
| FICOFair Isaac Corp | 15.1 bn | 20.3 | — | 34.1% | +15.9% | −61% / −36% |
| CARTMaplebear Inc. | 13.7 bn | 32.4 | 17.1% | 12.0% | +10.8% | +41% / +145% |
| CSGPCoStar Group, Inc. | 13.1 bn | 74.3 | 2.2% | 4.9% | +18.7% | −53% / −61% |
| AKAMAkamai Technologies, Inc | 12.3 bn | 30.9 | 8.9% | 9.5% | +5.4% | −4% / −26% |
| LYFTLyft, Inc. | 7.1 bn | 2.7 | 152.6% | 42.3% | +9.2% | −11% / +60% |
| ALITAlight, Inc. | 5.7 bn | — | -67.9% | -46.0% | −3.0% | −72% / −92% |
| FLYWFlywire Corporation | 2.7 bn | 36.3 | 9.1% | 10.3% | +26.6% | +56% / −6% |
| PAYOPayoneer Global Inc. | 2.4 bn | 49.1 | 7.1% | 4.6% | +7.7% | +24% / +38% |
| ACVACopart Inc | 1.8 bn | — | -15.1% | -7.9% | +19.2% | +16% / −21% |
| NUTXNutex Health Inc. | 1.4 bn | 8.1 | 57.2% | 21.2% | +82.4% | +78% / +620% |
| CASSCass Information Systems, Inc. | 704.1 m | 18.9 | 16.3% | 18.9% | +5.3% | +31% / +33% |
| PRTHPriority Technology Holdings, Inc. | 652.9 m | 11.6 | — | 5.6% | +8.3% | +35% / +164% |
| CTEVClaritev Corporation | 367.3 m | — | — | -28.5% | +3.7% | −66% / −67% |
| IMXIInternational Money Express, Inc. | 251.1 m | 13.3 | 11.9% | 3.4% | −7.7% | −45% / −60% |
1- and 3-year price returns: for CTEV from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Claritev Corporation is a technology, data and insights company that works with US healthcare payers to lower the cost of certain medical services and improve payment accuracy. It matters now because healthcare spending is rising quickly, and in the second quarter of 2026 the company reported revenues of $257.5 million, up 6.6%, alongside a net loss of $59.2 million.
SWOT
Strengths
- The company has long-standing payer relationships, a platform integrated into client technology environments and a large volume of processed transactions.
- A revenue model tied to savings generated for clients can align the company's interests with those of its clients.
- Its extensive contracted provider network and proprietary pricing methodologies are difficult for competitors to replicate.
Weaknesses
- Revenue depends on a small group of large clients, and the loss of one could significantly affect results.
- The company carries a significant amount of debt, and interest costs remain a burden on profitability and liquidity.
- The net result stayed negative in recent periods, and available liquidity was limited at the end of the second quarter of 2026.
Opportunities
- Expansion into new areas such as payer risk analytics and network transparency could open additional revenue sources.
- International markets, starting with the Middle East, could provide growth if partnerships develop.
- The use of artificial intelligence could lower operating costs and support new products.
Threats
- Price pressure from large clients and lower system utilization could reduce the volume of claims processed.
- Regulatory changes or shifts in healthcare law could reduce or alter demand for the company's services.
- Competition, cybersecurity incidents and disruptions to information systems could affect the company's reputation and operations.
Risks
- Client concentrationhigh
A small number of clients generate a significant share of revenue, and contracts can be terminated on short notice.
- High indebtednesshigh
Significant debt and interest costs could limit financial flexibility and investment capacity.
- Limited liquiditymedium
Unrestricted cash at the end of the second quarter of 2026 was modest, which could constrain investment if cash flows decline.
- Execution of the Vision 2030 planmedium
Realizing the benefits of transformation, acquisitions and new lines of business is not assured and could be delayed.
- Changes in healthcare utilizationlow
Lower use of medical services or higher patient cost-sharing could reduce the number of claims processed.
Investment thesis
What would need to be true (bull case)
- Revenue has grown year over year for several consecutive quarters, and the claims intelligence line rose visibly in the second quarter of 2026.
- The bookings target and updated 2026 guidance suggest management sees a base for growth in the following years, if execution continues.
- The addressable market the company describes is large, and expansion into new segments could diversify its revenue sources.
What would break the thesis
- Network and payment integrity revenues declined in the second quarter of 2026, which could point to pressure on some business lines.
- The net loss and high debt could limit the company's ability to fund investment without raising additional capital.
- Dependence on a few large clients and on healthcare regulation could expose the company to sudden drops in demand.
What to watch
- Achievement of the $100 million bookings target for 20262026
- Trend in network solutions and payment integrity revenuesQ3 2026
- Updated Adjusted EBITDA and free cash flow guidanceQ3 2026
- Evolution of client concentration in the next annual reportnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Claritev is a technology, data and insights company focused on transparency, affordability and quality across the US healthcare system. Its direct clients are typically payers, including administrative services only platforms and third-party administrators, while the end beneficiaries are employers, plan sponsors and their members. According to the 2025 annual report, the company relies on more than 750 clients, a platform integrated into their technology environments and a network of more than 1.4 million contracted providers.
The company describes its Vision 2030 strategy as a growth plan that targets horizontal solutions for vertical healthcare markets, with emphasis on value and new products in the core, expansion into adjacent markets and a transformation of the operating model. In 2025 it also began its first international expansion, into the Middle East and North Africa region, through a strategic partnership.
Its revenue model is in many cases linked to the savings it identifies for clients, so part of its fees depends on results achieved. Larger contracts typically run for multiple years, while smaller ones renew automatically each year, which supports the largely recurring character of its revenue.
Segments
Claims intelligence solutions
This line includes algorithms and analytics that detect overpriced claims and negotiate or recommend fair reimbursement for out-of-network costs. In the second quarter of 2026 it was the largest revenue line at $178.5 million, up 13.7%, supported by Data iSight and surprise bill services.
Network solutions
Network solutions provide contracted provider discounts and network development or management services for payers. Revenues in the second quarter of 2026 were $50.3 million, down 7.0% from the prior year.
Payment and revenue integrity solutions
This line identifies improper charges before or after claims are paid and helps recover underpaid premium dollars. Second quarter 2026 revenues were $28.7 million, down 5.9% from the prior year.
Market context
Citing CMS data, the company notes that US healthcare spending was projected to grow 7.1% in 2025 to $5.6 trillion. It estimates its total addressable market at about $10.0 billion for out-of-network cost management and payment integrity, about $3.0 billion for in-network payment and revenue integrity, and about $17.0 billion for new areas such as payer risk analytics.
Rising costs, growing claim volumes and the wasteful spending estimated in the system support demand for the company's services. If payers keep expanding such solutions, the market could support growth, although part of the activity remains sensitive to lower system utilization and regulatory changes.
Trends
- Rising healthcare spendingtailwind
Healthcare spending is growing faster than GDP, which could raise demand for transparency and cost control solutions.
- Regulatory complexitymixed
New rules, such as the surprise billing law, create demand for compliance services but also add administrative pressure on clients.
- Reduced healthcare utilizationheadwind
The trend toward lower system utilization and higher patient financial responsibility could reduce the number of claims processed.
- Consolidation in the insurance industryheadwind
Client consolidation can raise revenue concentration in a few clients and add pricing pressure, which could weigh on revenue stability.
Competitive position
The market for healthcare cost and payment integrity solutions in the US includes independent providers and administrative services companies. The company states that no single competitor offers the same breadth of out-of-network cost management services, but the sources reviewed do not identify competitors with US-listed tickers.
The competitive advantages the company cites include long-standing payer relationships, a platform integrated into client systems, high transaction volumes and the ability to respond quickly to regulatory change. These are the company's own claims and have not been independently verified.
- Independent out-of-network cost management providers
Firms offering claim negotiation and repricing services, cited as part of the competitive market in the company's filing.
- Third-party administrators and ASO platforms
These players are both clients and possible competitors in distributing healthcare cost services.
- Healthcare data analytics providers
Companies offering predictive and prescriptive analytics for benefit plans, an area the company is seeking to expand into.
- Payment integrity service providers
Competitors in verifying and recovering improper payments, especially in government programs.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Claritev’s (CTEV) Profit Picture Brightens, But Its Cash Cushion ShrinksYahoo Finance — News · 08 Sept 2026 · EN
The latest news item in our archive is from 08 Sept 2026; the newest SEC filing is from 15 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report15 Oct 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report15 Sept 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report07 Aug 2026Results of operations · Financial statements and exhibits
- Current report06 Jul 2026Other events
- Current report22 Jun 2026Regulation FD disclosure
- Current report18 May 2026Regulation FD disclosure
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Current report30 Apr 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Claritev Corporation · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Claritev Corporation · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Claritev Corporation · 07 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.