Claritev Corporation released its third‑quarter 2025 financial results, reporting revenue of $246.0 million—a 6.7% year‑over‑year increase—and a net loss of $69.8 million. Adjusted EBITDA rose to $155.1 million, giving the company a margin of 63.1%, up from 61.5% in the same period a year earlier.
Revenue surpassed analyst expectations of $240.5 million by $5.5 million, a 2.3% beat. The lift was driven by robust demand in the company’s core data and decision‑science offerings, particularly in international markets, and by new subscription deals that added to the top line. Compared with Q2 2025, revenue grew 1.4% to $241.6 million, indicating a steady quarterly acceleration.
The company missed earnings expectations, reporting a loss per share of $4.23 versus an estimate of $3.12—a miss of $1.11 or 35% worse. The wider loss was largely attributable to higher operating expenses and a one‑time restructuring charge, offset by disciplined cost controls that helped expand margins.
Adjusted EBITDA margin expanded to 63.1% from 61.5% YoY, driven by a higher mix of high‑margin data services and improved operational leverage. The net loss narrowed dramatically from $391.5 million in Q3 2024 to $69.8 million, reflecting lower interest and tax expenses and a more efficient cost structure.
Full‑year 2025 guidance was revised upward: revenue guidance was raised to 2.8‑3.2% growth versus the prior flat‑to‑2% outlook; adjusted EBITDA margin guidance was tightened to 62.5‑63.0% from 62.5‑63.5%; capital expenditures were trimmed to $165‑175 million from $170‑180 million; the effective tax rate remains 25‑28%; and free‑cash‑flow guidance stays unchanged at a $20 million loss to a $20 million gain. Management cited strong client renewals, new logos, and expanding international operations as key drivers of the improved outlook.
CEO Travis Dalton highlighted the company’s “Year of the Turn” and the next phase, “The Way Up,” noting that multi‑year renewals with top‑ten clients and new subscription deals underpin the positive trajectory. He emphasized disciplined cost execution and a focus on high‑margin data and decision‑science offerings as the path to profitability.
Investors reacted positively, with the stock closing 3.2% higher at $61.96. The market response was driven primarily by the revenue beat and the raised full‑year guidance, which outweighed the EPS miss. Analysts noted confidence in the company’s margin expansion and growth momentum.
Claritev’s Q3 results demonstrate a clear turnaround: narrowing losses, expanding margins, and a higher revenue outlook. The company’s disciplined cost strategy and focus on high‑margin offerings position it for a stronger 2025 and a path toward profitability.
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