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Sep 30, 2022
MSP Recovery Q3 2022 Earnings Report
Announced financial results for the third quarter ended September 30, 2022.
Key Takeaways
MSP Recovery reported a revenue increase of 234% compared to the third quarter of 2021, with total revenue reaching $8.3 million. The paid value of recoverable claims increased to $89.2 billion. The company also reduced debt by $63 million through a new warrant agreement with Brickell Key Investments, LP.
Paid Value of Potentially Recoverable Claims grew to $89.2 billion.
Total revenue for the third quarter of 2022 was $8.3 million, up 234% from the third quarter of 2021.
The Company reported a gain on debt extinguishment of $63.4 million.
LifeWallet entered into a licensing agreement with a new client for a $7.5 million fee.
Forward Guidance
MSP Recovery is providing guidance for its full year 2022 and expects to achieve Total Gross Recoveries, but now believes that it will achieve a substantial portion of these Total Gross Recoveries during 2023 due to various factors, including, but not limited to litigation delays
Challenges Ahead
- Litigation delays
- The nature of the Company’s business
- The timing and amount of Total Gross Recoveries that will be achieved, are inherently unpredictable
- The Company cannot provide assurances regarding the timing
- The Company cannot provide assurances regarding the amount of Total Gross Recoveries that will ultimately be achieved.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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