Claritev Corporation Canaccord Genuity's 46th Annual Growth Conference

Great, and thank you, and thanks to Canaccord, for the invite. Clarivate, I just celebrated my two-year anniversary here, and it has felt like we have aged in dog years because we have been up to a lot. Our core business kind of has three domains. If you are familiar with the out-of-network market, our primary and largest business is claims intelligence, where we help employers and consumers manage out-of-network costs through our insights. Our second business was the company was founded based on a network. We have a network of about 1.4 million providers and large payers, regional payers, and third-party administrators use our high-performance network as a primary or complementary network.

Finally, we have a payment revenue integrity business that focuses on prepayment, payment and revenue integrity, so before a claim is submitted and paid, capturing errors and addressing issues on claims on the behalf of payers and TPAs, as well as a whole suite of post-pay payment and revenue integrity and payment integrity after a claim is submitted and paid. Finally, we did launch a services business that really focuses on wrapping through our entire suite of products and solutions against our horizontal product and vertical market strategy. The company's been around for about 45 years. We're headquartered in McLean, Virginia, in D.C., and about 3,000 associates across the country and across the globe now because we have an international business as well.

Yeah. We think Q2 is a clear inflection point for the business. Q2 exit was our fifth straight quarter of growth. We've been public for a little over five years. We went public in the middle of 2020. It was a banner quarter on all the financial metrics. So it was our strongest revenue quarter since Q3 of 2022, strongest absolute EBITDA dollar quarter in about four years, and our strongest free cash flow quarter in over four years. On top of that, we recently started giving some indication on our multiyear growth plan through a bookings or an annual contract value, or ACV metric. When we look at the first half of the year, we've booked $74 million of new business, and we've created and now actively manage a multi nine-figure funnel.

When Travis and I got here about two and a half years ago, first order of business was get the business healthy, get it on the path to growth, and we're highly excited about our go-to-market and our financial performance and, most importantly, our ability to generate free cash flow while we're doing a bunch of exciting things.

Yeah. Great. We are a big fan. It might sound cheesy, but it is a journey. Our Vision 2030 really started with refinancing the company. When Travis and I got here, we had this very complicated capital structure, and our first order of business was to get our capital structure in order. So we refinanced the company, which concluded in January of 2025, to give us an additional 3 years, so to give us a chance to run a 5-year play. Vision 2030 is really about the transformation journey to return to a diversified growth company. The three tenets of our transformation, first and foremost, are our digital transformation. That seems like a very played out and ambiguous term, but most technology companies have residual tech debt.

We were no different, so our first order of business on technology transformation or digital transformation was to move virtually all of our applications into the cloud. We announced a very large partnership with Oracle, and we migrated virtually our entire tech stack to OCI at the end of last year. When you look at where we are in the phasing of our technology transformation, we had announced at our analyst and investor day in March that we largely expect to be complete with that transformation in 2028. The second piece of the transformation, to use a baseball analogy, I'd say we're probably in the fourth or fifth inning, is rewriting all 400 of our applications to be cloud and AI native to take advantage of all the modern tools and technologies that are available.