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Jun 30, 2022
MSP Recovery Q2 2022 Earnings Report
Announced financial results for the second quarter ended June 30, 2022.
Key Takeaways
MSP Recovery reported a revenue of $5.3 million, a net loss of $77.1 million, and substantial growth of assets from $104 million at December 31, 2021 to $6.6 billion at June 30, 2022.
Total revenue for the second quarter of 2022 was $5.3 million, up 57% from the second quarter of 2021.
Operating loss for the second quarter of 2022 was $52.2 million, compared with $1.5 million for the second quarter of 2021.
Net loss for the second quarter of 2022 was $77.1 million, or net loss per share of $0.09 per share.
As of June 30, 2022, cash and cash equivalents were $25.0 million.
MSP Recovery
MSP Recovery
Forward Guidance
MSP Recovery is providing guidance for its full year 2022 as follows: Total Gross Recoveries is expected to be approximately $992 million.
Positive Outlook
- Portfolio 2022 Guidance: Exceeded target for 2022 for growth in paid value of potentially recoverable claims by 3.2 times.
Challenges Ahead
- The guidance provided is an estimate based on management’s knowledge.
- The nature of the Company’s business and the timing and amount of recoveries, can, depending on various factors, be unpredictable and the Company cannot provide assurances in that regard.