CTEV · CIK 0001793229
What Claritev Corp. told the SEC could break it.
Claritev's sharpest exposure is customer concentration: its two largest clients were about 29.2% and 10.4% of 2025 revenue, and client contracts can be terminated on short notice without cause and carry no minimum-utilization commitment, so even a major client's pullback isn't contractually guarded against. It is also carrying material antitrust-related legal costs — $16.9 million in 2025 — reflecting ongoing antitrust matters tied to its out-of-network reimbursement business. And it disclosed material weaknesses in internal control over certain IT general controls for information systems relevant to preparing its financial statements.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- two largest clients (unnamed) — 29.2% and 10.4% of revenuehigh
The two largest clients accounted for ~29.2% and ~10.4% of 2025 revenue, and client contracts permit short-notice termination without cause and carry no minimum-utilization commitment.
“Our two largest clients accounted for approximately 29.2% and 10.4% , respectively, of our revenues for the year ended December 31, 2025.”
SEC filing →As of 2026
Litigation
- antitrust mattersmedium
The Company is incurring material antitrust-related legal costs ($16.9 million in 2025), reflecting ongoing antitrust litigation/matters tied to its out-of-network reimbursement business.
“transformation costs, including internal personnel expenses of $16.9 million, incurred as part of our Vision 2030 multi-year transformation program, $16.9 million of antitrust related legal costs, and increased stock compensation of $7.2 million.”
SEC filing →As of 2026
Other disclosures
- material weakness in IT general controls (ICFR)medium
The Company disclosed material weaknesses in internal control over certain IT general controls for information systems relevant to financial-statement preparation.
“As described elsewhere in this Annual Report on Form 10-K, we identified material weaknesses in our internal control over certain IT general controls for certain information systems that are relevant to the preparation of our financial statements.”
SEC filing →As of 2026
In the MyPRIA app, this is checked against the companies you actually own.
← World Watch