MSP Recovery, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 31, 2023 at 06:11 am EDT
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MSP Recovery, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 2.54 million compared to USD 5.33 million a year ago. Net loss was USD 8.22 million compared to USD 1.88 million a year ago. Basic loss per share from continuing operations was USD 1.75 compared to USD 3.5 a year ago. Diluted loss per share from continuing operations was USD 1.75 compared to USD 3.5 a year ago.
For the six months, revenue was USD 6.54 million compared to USD 13.51 million a year ago. Net loss was USD 13.14 million compared to USD 1.88 million a year ago. Basic loss per share from continuing operations was USD 3 compared to USD 3.5 a year ago. Diluted loss per share from continuing operations was USD 3 compared to USD 3.5 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.