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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.
MSP Recovery
MSP Recovery
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.