MSP Recovery, Inc. (MSPR) 10-Year Financial Performance & Capital Metrics

MSPR • • Industrial / General

HealthcareHealthcare ITRevenue Cycle ManagementClaims Processing & Payment Integrity

AboutMSP Recovery, Inc. operates as a healthcare recoveries and data analytics company in the United States and Puerto Rico. The company offers claims recovery services, including services to related parties or third parties to assist entities with pursuit of claims recovery rights. It also provides Chase to pay service to assist its healthcare provider clients to identify in the first instance the proper primary insurer at the point of care and thereby avoid making a wrongful payment; and LifeWallet, a platform designed to locate and organize users' medical records. MSP Recovery, Inc. was founded in 2014 and is headquartered in Coral Gables, Florida.Show more

Revenue $18M +136.8%
EBITDA -$790M -41.2%
Net Income -$360M -539.8%
EPS (Diluted) -359.95 -127.8%
Gross Margin 47.36% -34.4%
EBITDA Margin -4328.65% +40.4%
Operating Margin -6982.79% +3.9%
Net Margin -1975.45% -170.1%
ROE -55.86% -1687.6%
ROIC -69.74% -281.6%
Debt/Equity -
Interest Coverage -3.03 -56.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Weak momentum: RS Rating 0 (bottom 0%)
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y7.66%

TTM-8.57%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-639.01%

EPS CAGR

10Y-

5Y-

3Y-

TTM-221.35%

ROCE

10Y Avg-40.19%

5Y Avg-40.19%

3Y Avg-34.96%

Latest-67.65%

Peer Comparison

Claims Processing & Payment Integrity

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PINCPremier, Inc.	2.34B	28.26	128.45	-10.86%	-2.42%	-1.59%	13.64%	0.18
SCNXScienture Holdings, Inc.	21.25M	0.52	0.21	-89.98%	-31.46%	-24.86%		0.04
MSPRMSP Recovery, Inc.	950.43K	0.07	-0.00	136.85%	-73.28%	-55.86%
CTEVClaritev Corporation	496.76M	30.06	-0.29	-3.21%	-35.93%	-183.57%		54.05
TBRGTruBridge, Inc.	326.3M	21.74	-15.75	0.95%	1.59%	30.92%	3.99%	1.04

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	13.89M	14.63M	23.42M	7.71M	18.25M
Revenue Growth %	-	0.05%	0.6%	-0.67%	1.37%
Cost of Goods Sold+	172K	190K	2.05M	2.15M	9.61M
COGS % of Revenue	0.01%	0.01%	0.09%	0.28%	0.53%
Gross Profit+	13.71M	14.09M	21.37M	5.56M	8.64M
Gross Margin %	0.99%	0.96%	0.91%	0.72%	0.47%
Gross Profit Growth %	-	0.03%	0.52%	-0.74%	0.55%
Operating Expenses+	17.04M	21.61M	352.84M	565.43M	1.28B
OpEx % of Revenue	1.23%	1.48%	15.07%	73.38%	70.3%
Selling, General & Admin	16.81M	21.26M	85.49M	83.67M	45.88M
SG&A % of Revenue	1.21%	1.45%	3.65%	10.86%	2.51%
Research & Development	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-
Other Operating Expenses	360K	343K	267.35M	481.75M	1.24B
Operating Income+	-3.33M	-7.17M	-331.48M	-559.87M	-1.27B
Operating Margin %	-0.24%	-0.49%	-14.15%	-72.66%	-69.83%
Operating Income Growth %	-	-1.15%	-45.23%	-0.69%	-1.28%
EBITDA+	-3.09M	-6.66M	-331.05M	-559.61M	-789.94M
EBITDA Margin %	-0.22%	-0.46%	-14.14%	-72.63%	-43.29%
EBITDA Growth %	-	-1.15%	-48.69%	-0.69%	-0.41%
D&A (Non-Cash Add-back)	235K	507K	424K	263K	484.35M
EBIT	-3.38M	-6.03M	-280.89M	-545.98M	-1.14B
Net Interest Income+	-20.89M	-27.05M	-121.01M	-289.17M	-420.03M
Interest Income	0	0	0	0	0
Interest Expense	20.89M	27.05M	121.01M	289.17M	420.03M
Other Income/Expense	-20.97M	-25.91M	-70.43M	-275.27M	-282.56M
Pretax Income+	-24.3M	-33.08M	-401.9M	-835.14M	-1.56B
Pretax Margin %	-1.75%	-2.26%	-17.16%	-108.39%	-85.31%
Income Tax+	-51K	0	0	0	0
Effective Tax Rate %	1%	1%	0.02%	0.07%	0.23%
Net Income+	-24.25M	-33.09M	-7.42M	-56.35M	-360.5M
Net Margin %	-1.75%	-2.26%	-0.32%	-7.31%	-19.75%
Net Income Growth %	-	-0.36%	0.78%	-6.6%	-5.4%
Net Income (Continuing)	-24.25M	-33.08M	-401.9M	-835.14M	-1.56B
Discontinued Operations	0	0	0	0	0
Minority Interest	0	4.35M	2.08B	1.15B	-228.99M
EPS (Diluted)+	-1739.58	-6.90	-75.00	-158.02	-359.95
EPS Growth %	-	1%	-9.87%	-1.11%	-1.28%
EPS (Basic)	-1739.58	-2374.13	-75.00	-158.02	-359.95
Diluted Shares Outstanding	8.71M	121.17K	98.92K	356.59K	1M
Basic Shares Outstanding	21.83M	23.65M	98.89K	356.59K	1M
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	16.8M	19.04M	51.36M	21.95M	15.47M
Cash & Short-Term Investments	11.88M	1.66M	3.66M	11.63M	12.33M
Cash Only	11.88M	1.66M	3.66M	11.63M	12.33M
Short-Term Investments	0	0	0	0	0
Accounts Receivable	4.87M	4.07M	8.62M	1.41M	1.5M
Days Sales Outstanding	128.03	101.57	134.34	66.56	29.98
Inventory	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-
Other Current Assets	54K	13.3M	39.08M	8.91M	1.65M
Total Non-Current Assets+	1.04M	84.97M	3.37B	3.14B	1.9B
Property, Plant & Equipment	612K	750K	3.43M	5.25M	5.39M
Fixed Asset Turnover	22.69x	19.50x	6.82x	1.47x	3.39x
Goodwill	0	0	0	0	0
Intangible Assets	427K	84.22M	3.36B	3.13B	1.9B
Long-Term Investments	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	0
Total Assets+	17.84M	104.01M	3.42B	3.16B	1.92B
Asset Turnover	0.78x	0.14x	0.01x	0.00x	0.01x
Asset Growth %	-	4.83%	31.86%	-0.08%	-0.39%
Total Current Liabilities+	42.13M	54.06M	115.72M	46.51M	1.27B
Accounts Payable	398K	4.61M	8.42M	6.24M	13.97M
Days Payables Outstanding	844.59	8.85K	1.5K	1.06K	530.8
Short-Term Debt	0	0	0	0	31.2M
Deferred Revenue (Current)	249K	249K	0	0	0
Other Current Liabilities	41.48M	3.49M	107.29M	19.62M	1.19B
Current Ratio	0.40x	0.35x	0.44x	0.47x	0.01x
Quick Ratio	0.40x	0.35x	0.44x	0.47x	0.01x
Cash Conversion Cycle	-	-	-	-	-
Total Non-Current Liabilities+	91.56M	201.35M	1.11B	1.69B	782.18M
Long-Term Debt	24.04M	106.81M	324.25M	678.99M	763.35M
Capital Lease Obligations	24.04M	106.81M	0	235K	102K
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	43.48M	94.55M	2.77M	1.02B	18.72M
Total Liabilities	133.69M	255.41M	1.23B	1.74B	2.05B
Total Debt+	48.09M	213.61M	324.25M	679.22M	794.66M
Net Debt	36.21M	211.95M	320.59M	667.59M	782.33M
Debt / Equity	-	-	0.15x	0.48x	-
Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-
Interest Coverage	-0.16x	-0.27x	-2.74x	-1.94x	-3.03x
Total Equity+	-115.85M	-151.41M	2.19B	1.42B	-128.41M
Equity Growth %	-	-0.31%	15.45%	-0.35%	-1.09%
Book Value per Share	-13.30	-1249.50	22111.52	3979.71	-128.15
Total Shareholders' Equity	-120.18M	-155.76M	109.69M	272.39M	100.58M
Common Stock	0	0	1.81M	1K	0
Retained Earnings	0	0	-29.2M	-85.55M	-446.05M
Treasury Stock	0	0	0	0	0
Accumulated OCI	0	0	0	0	0
Minority Interest	0	4.35M	2.08B	1.15B	-228.99M

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-14K	2.25M	-80.64M	-40.02M	-16.12M
Operating CF Margin %	-0%	0.15%	-3.44%	-5.19%	-0.88%
Operating CF Growth %	-	161.64%	-36.85%	0.5%	0.6%
Net Income	-24.25M	-33.09M	-401.9M	-835.14M	-1.56B
Depreciation & Amortization	235K	343K	424K	263K	277K
Stock-Based Compensation	0	0	20.05M	830K	0
Deferred Taxes	0	0	-531K	0	0
Other Non-Cash Items	21.17M	25.96M	361.37M	759.74M	1.38B
Working Capital Changes	2.83M	9.04M	-8.49M	34.29M	160.28M
Change in Receivables	0	801K	-6.2M	1.78M	-78K
Change in Inventory	0	0	0	0	0
Change in Payables	268K	2.01M	-2.29M	13.51M	10.1M
Cash from Investing+	986K	-2.01M	-5.68M	7.56M	-2.73M
Capital Expenditures	-330K	-631K	-2.98M	-1.74M	-525K
CapEx % of Revenue	0.02%	0.04%	0.13%	0.23%	0.03%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	-230M	13.37K	-2.7M	9.3M	-2.2M
Cash from Financing+	9.61M	-10.46M	99.73M	29.02M	19.54M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	-2.71M	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	9.61M	-7.75M	-35.21M	-958K	0
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	-344K	1.62M	-83.62M	-41.77M	-16.65M
FCF Margin %	-0.02%	0.11%	-3.57%	-5.42%	-0.91%
FCF Growth %	-	5.7%	-52.68%	0.5%	0.6%
FCF per Share	-0.04	13.35	-845.32	-117.12	-16.61
FCF Conversion (FCF/Net Income)	0.00x	-0.07x	10.87x	0.71x	0.04x
Interest Paid	0	0	0	0	0
Taxes Paid	0	0	0	0	0

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-0.73%	-3.12%	-55.86%
Return on Invested Capital (ROIC)	-	-	-19.36%	-18.28%	-69.74%
Gross Margin	98.76%	96.36%	91.23%	72.16%	47.36%
Net Margin	-174.61%	-226.26%	-31.67%	-731.32%	-1975.45%
Debt / Equity	-	-	0.15x	0.48x	-
Interest Coverage	-0.16x	-0.27x	-2.74x	-1.94x	-3.03x
FCF Conversion	0.00x	-0.07x	10.87x	0.71x	0.04x
Revenue Growth	-	5.32%	60.13%	-67.1%	136.85%

Frequently Asked Questions

Growth & Financials

MSP Recovery, Inc. (MSPR) reported $9.8M in revenue for fiscal year 2024. This represents a 29% decrease from $13.9M in 2020.

MSP Recovery, Inc. (MSPR) grew revenue by 136.8% over the past year. This is strong growth.

MSP Recovery, Inc. (MSPR) reported a net loss of $719.2M for fiscal year 2024.

Dividend & Returns

MSP Recovery, Inc. (MSPR) has a return on equity (ROE) of -55.9%. Negative ROE indicates the company is unprofitable.

MSP Recovery, Inc. (MSPR) had negative free cash flow of $10.6M in fiscal year 2024, likely due to heavy capital investments.

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