From GlobeNewswire: 2025-04-16 06:06:00

MSP Recovery, Inc. (NASDAQ: MSPR) announced financial results for fiscal year 2024. Founder and CEO John H. Ruiz highlighted the company’s progress in enforcing Medicare Secondary Payer laws, securing settlements, and advancing technology to combat systemic waste in healthcare.

In 2024, MSP engaged in debt reduction and liquidity enhancement efforts, including a $144 million debt-to-equity conversion and a $25 million collateral pledge. The company also extended its debt maturity, enabling potential capital raising opportunities.

MSP settled pharmaceutical litigation for over $8.0 million in cash recoveries and entered into agreements with property and casualty insurers totaling over $10.0 million in cash recoveries. Technological advancements included the launch of a clearinghouse solution.

Financial highlights for 2024 showed total revenue of $18.2 million, a 136% increase from the previous year. Operating loss was $1,274 million, with a net loss of $1,556.8 million. The company reported liquidity of $12.3 million as of December 31, 2024.

MSP saw an increase in owned claims, with a paid amount of $380.4 billion and a paid value of potentially recoverable claims of $87.7 billion as of December 31, 2024. The company’s recovery multiple was 0.08, and its penetration status of the portfolio was 86.8%.

The company’s non-GAAP reconciliation for 2024 showed an adjusted operating loss of $35.4 million and an adjusted net loss of $41.3 million. These measures provide additional insight into the company’s ongoing performance and financial health.



Read more at GlobeNewswire:: MSP Recovery Announces Fiscal Year and Fourth Quarter 2024