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Mar 31, 2021
Multiplan Q1 2021 Earnings Report
MultiPlan's financial performance demonstrated strength, with revenue and Adjusted EBITDA in-line with expectations, and progress made on the Extend growth strategy.
Key Takeaways
MultiPlan reported Q1 2021 revenues of $254.9 million and net income of $45.9 million. The company processed approximately $29 billion in claims during the quarter, identifying potential medical cost savings of approximately $4.9 billion. Full year 2021 revenue guidance is $1.04 billion to $1.10 billion.
Q1 2021 revenues reached $254.9 million, a 1.1% increase over Q1 2020.
Q1 2021 net income was $45.9 million, compared to a net loss in Q1 2020.
Q1 2021 Adjusted EBITDA totaled $191.1 million.
The company completed the acquisition of Discovery Health Partners in February.
Forward Guidance
The Company anticipates Q2 2021 revenues between $260 million and $275 million with Adjusted EBITDA between $185 million and $200 million. For the 2021 year, the Company is providing revenue guidance between $1.04 and $1.10 billion and Adjusted EBITDA between $750 and $790 million.
Positive Outlook
- Full Year 2021 Revenue guidance of $1.04 billion to $1.10 billion
- Full Year 2021 Adjusted EBITDA guidance of $750 million to $790 million
- Q2 2021 Revenue guidance of $260 million to $275 million
- Q2 2021 Adjusted EBITDA guidance of $185 million to $200 million
Challenges Ahead
- Estimated COVID-related revenue impact of between $18 million and $22 million per quarter
- Estimated COVID-related Adjusted EBITDA impact of between $16 million and $20 million per quarter
Historical Earnings Impact
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Avg. Return Before/After Earnings
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