MSP Recovery, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 10:12 pm
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MSP Recovery, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 0.44 million compared to USD 8.51 million a year ago. Net loss was USD 19.76 million compared to USD 2.07 million a year ago. Basic loss per share from continuing operations was USD 1.56 compared to USD 0.75 a year ago. Diluted loss per share from continuing operations was USD 1.56 compared to USD 0.75 a year ago.
For the nine months, revenue was USD 6.98 million compared to USD 22.02 million a year ago. Net loss was USD 32.89 million compared to USD 3.95 million a year ago. Basic loss per share from continuing operations was USD 4.63 compared to USD 1.86 a year ago. Diluted loss per share from continuing operations was USD 4.63 compared to USD 1.86 a year ago.
MSP Recovery, Inc. doing business as, LifeWallet, healthcare recovery and data analytics company. The Company is a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery specialist. It is engaged in disrupting the antiquated healthcare reimbursement system, using data and analytics to identify and recover improper payments made by Medicare, Medicaid, and commercial health insurers. It analyzes historical medical claims data to identify recoverable opportunities. The Company has developed over 1,400 algorithms, which help identify waste, fraud and abuse in the Medicare, Medicaid, and commercial health insurance segments. LifeWallet solutions include LifeWallet Health, LifeWallet Legal, LifeWallet Sports, LifeWallet EDU, and LifeChain. It provides services to other parties in identifying recoverable claims as well as provides data matching and legal services. LifeWallet provides solutions for multiple industries, including healthcare, legal, education, and sports NIL.