Claritev Raises 2026 Outlook and Flags $1.1 Billion 2027

The Tip Desk · November 9, 2026 · 3 min read

Third-quarter revenue reached $268.3 million as the company lifted full-year sales guidance to $1.038 billion–$1.043 billion.

Claritev Corporation (CTEV), a healthcare technology, data and insights company, reported third-quarter 2026 revenue of $268.3 million, up 9.1% from $246.0 million a year earlier, and raised its full-year 2026 revenue outlook to $1.038 billion to $1.043 billion.

Year-over-year growth accelerated from 6.6% in the second quarter and 5.8% in the first. Chairman, CEO and President Travis Dalton said the quarter captured the company’s promise, with results ahead of expectations and growth across solutions and verticals.

Adjusted EBITDA was $162.0 million, up 4.4% from $155.1 million in the year-ago quarter. The adjusted EBITDA margin was 60.4%, versus 63.1% in the third quarter of 2025. Net loss narrowed to $61.8 million from $69.8 million a year earlier, or $3.64 a share versus $4.23 a share. Operating income was $20.6 million.

Chief Financial Officer Doug Garis said third-quarter performance gave the company conviction to raise its current full-year outlook and to introduce an early view of 2027. The company said it is running approximately a year ahead of its March 2026 Investor Day plan, with preliminary 2027 revenue expectations of $1.1 billion.

Full-year 2026 Adjusted EBITDA guidance moved to $625 million to $630 million from $610 million to $620 million as of August 7. Free-cash-flow guidance was raised to $10 million to $20 million from $5 million to $15 million. Capital-expenditure guidance was $165 million to $170 million. The effective tax-rate range remained 24% to 28%.

Cash generation in the quarter was weaker. Net cash provided by operating activities was $18.1 million, compared with $19.9 million a year earlier. Free cash flow was an outflow of $25.8 million, versus an outflow of $16.3 million a year earlier. Purchases of property and equipment were $44.4 million. Unrestricted cash and cash equivalents ended September 30 at $10.1 million.

The company ended the quarter with long-term debt of $4.60 billion and $95.0 million drawn on its 2025 revolving credit facility, versus $20.0 million at year-end 2025. Shareholders’ deficit attributable to Claritev was $346.6 million. Interest expense for the three months was $100.9 million.

Adjusted EBITDA included $10.3 million of legal expenses associated with antitrust matters, $8.0 million of transformation costs tied to the Vision 2030 program, and $8.0 million of stock-based compensation including cRSUs. Costs of services were $69.8 million and general and administrative expenses were $66.3 million. Amortization of intangible assets was $85.9 million.

Dalton said a recent client conference showcased Transparency-Based Pricing, the Healthcare Intelligence platform and expanded Medicare Advantage offerings, and that dozens of AI agents were already at work inside workflows. Garis said the company intends to continue investing in innovation and growth while maintaining a focus on profitability and improving free cash flow conversion.