Revenue and EBITDA Growth
Claritev Corporation reported revenue growth of 6.7% and adjusted EBITDA growth of 9.5%, both ahead of internal expectations. This marks a second consecutive beat and raise quarter for the company.
Core Business Strength
The core business showed significant strength with a 15% growth in network revenue, 4.2% growth in analytics, and over 7% growth in payment revenue integrity. Renewals of top 10 clients provide stability and visibility.
Expansion into New Verticals and International Markets
Claritev added 5 new logos, bringing the year-to-date total to 20, and closed 180 opportunities. The company expanded into international markets, particularly the Middle East, and recorded its first revenue from these expansions.
Strong Pipeline and ACV Growth
There was a 67% increase in pipeline year-to-date, and the company closed $45 million in Annual Contract Value (ACV) year-to-date, expecting to close $60 million by year-end.