MultiPlan Corporation (NYSE:MPLN) Q3 2023 Earnings Conference Call November 7, 2023 8:00 AM ET

Company Participants

Shawna Gasik – Assistant Vice President-Investor Relations

Dale White – President and Chief Executive Officer

Jim Head – Chief Financial Officer

Conference Call Participants

Daniel Grosslight – Citigroup

Madison Aron – JPMorgan

Operator

Welcome to the MultiPlan Corporation Third Quarter 2023 Earnings Conference Call. My name is Harry, and I’ll be your operator today. [Operator Instructions]

I’d now like to turn the conference over to Shawna Gasik, AVP of Investor Relations. Thank you. Please go ahead.

Shawna Gasik

Thank you, Harry. Good morning, and welcome to MultiPlan’s third quarter 2023 earnings call. Joining me today is Dale White, Chief Executive Officer; and Jim Head, Chief Financial Officer.

The call is being webcast and can be accessed through the Investor Relations section of our website at www.multiplan.com. During our call, we will refer to the supplemental slide deck that is available on the Investor Relations portion of our website, along with the third quarter 2023 earnings press release issued earlier this morning.

Before we begin a couple of reminders. Our remarks and responses to questions today may include forward-looking statements. These forward-looking statements represent management’s beliefs and expectations only as of the date of this call. Actual results may differ materially from those forward-looking statements due to a number of risks. A summary of these risks can be found on the second page of the supplemental slide deck and a more complete description on our annual report on Form 10-K and other documents we filed with the SEC.

We will also be referring to several non-GAAP measures, which we believe provide investors with a more complete understanding of MultiPlan’s underlying operating results. An explanation of these non-GAAP measures and reconciliations to their comparable GAAP measures can be found in the earnings press release and in the supplemental slide deck.

With that, I would now like to turn the call over to our Chief Executive Officer, Dale White. Dale?

Dale White

Thank you, Shawna. Good morning everyone, and welcome to the call. Well, what a difference a year makes. This time last year, I had the unfortunate job of informing you that our results had fallen short of our expectations and visibility had become more challenging. In the four quarters since then, we wasted no time pivoting the company. We stabilized our revenue base and reset financial expectations, formalized a new strategy to transform our business, and initiated a growth plan to execute on that transformation.