Claritev posts a $3.64-per-share loss and raises 2026 revenue outlook to $1.043 billion
Key Facts
Claritev reported results on November 9, 2026, for the third quarter ended September 30, posting a basic and diluted loss of $3.64 per share, compared with a loss of $4.23 in the third quarter of 2025. Revenue was $268.3 million, versus $246.0 million a year earlier, an annual increase of 9.1%. Net loss narrowed to $61.8 million from $69.8 million in the year-earlier period. Chief Executive Travis Dalton said the results came in above the company's expectations. In the same announcement, the company raised its full-year guidance range, adding an improvement in its estimates for the rest of 2026 to quarterly revenue growth.
Adjusted EBITDA was $162.0 million in the third quarter, up 4.4% from $155.1 million in the year-earlier quarter. But the adjusted margin fell to 60.4% from 63.1% year over year. The figures show growth in adjusted earnings alongside a decline in margin, while the reported results did not include an explanation for the divergence. On a per-share basis, the annual loss narrowed from $4.23 to $3.64. Net loss also declined from $69.8 million to $61.8 million over the same period.
On liquidity, net cash from operating activities was $18.1 million in the third quarter, compared with $19.9 million in the third quarter of 2025. The free cash flow deficit widened to $25.8 million, from a deficit of $16.3 million a year earlier. Claritev ended the quarter with $10.1 million in unrestricted cash and cash equivalents on its balance sheet. These indicators put cash flow on a weaker footing than in the year-earlier period, despite higher revenue and adjusted earnings. Chief Financial Officer Doug Garris said the company intends to continue investing in innovation and growth while maintaining a focus on profitability and improving free cash flow conversion.
The company raised its 2026 revenue outlook range to $1.038–$1.043 billion, compared with the previous range of $1.00–$1.02 billion, issued on August 7. It also raised its adjusted EBITDA outlook to $625–$630 million, from $610–$620 million in the previous guidance. The updated outlook includes capital spending of $165–$170 million and free cash flow of $10–$20 million for fiscal 2026. Signaling its next plan, Claritev provided an initial 2027 revenue outlook of $1.1 billion. The company said it is now about a year ahead of its March 2026 Investor Day plan.
Dalton said that “dozens of AI agents” are already operating within the company's workflows. The statement places the use of agents in the context of Claritev's current operations, without the release specifying a separate financial impact for them in the quarterly results. In the market, the company's shares, listed under the ticker CTEV, closed at $22.71 on November 6, 2026. That close came before the results announcement on November 9, so it does not represent a post-results price. The evidence provided no share price after the announcement or documented comparison between the per-share loss and actual revenue and analyst estimates.