UM booster John Ruiz's company LifeWallet admits ‘substantial doubt' about its future [Yahoo! Finance]
MSP Recovery, Inc. - Class A (LIFW)
Company Research
Source: Yahoo! Finance
The admission came as the company reported that it had brought in just over $300,000 in revenue between March and June from its primary business of collecting reimbursement for wrongly paid insurance claims. That's the least amount of revenue the company has reported in a quarter since it first went public in May 2022, then known as MSP Recovery. The company reported a net loss of more than $211 million, a little more than its net loss in the same time period last year. In response to questions about the quarterly report, LifeWallet referred the Miami Herald to the filing. While it isn't uncommon for newly public companies to report little revenue as they develop a new technology or product, Jay Ritter, a business professor at the University of Florida, said that companies with LifeWallet's combination of modest income and massive losses don't tend to fare well. “Usually the prospects aren't good,” he said. The company also disclosed that it had been subpoenaed last month
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LIFW
News
- LifeWallet Launches Initiative to Secure New Agreements with Health Plans, Providers, Insurers and Attorneys, Continues Cost Cutting Efforts, and Announces it Secured a Waiver of Acceleration Based on a Negative Going Concern from its Largest Creditor [YaYa
- LifeWallet Launches Initiative to Secure New Agreements with Health Plans, Providers, Insurers and Attorneys, Continues Cost Cutting Efforts, and Announces it Secured a Waiver of Acceleration Based on a Negative Going Concern from its Largest CreditorGlobeNewswire
- LifeWallet Announces a New Pharmaceutical Antitrust Settlement Totaling $3.1 MillionGlobeNewswire
- MSP Recovery Second Quarter 2024 Earnings: US$1.49 loss per share (vs US$1.66 loss in 2Q 2023) [Yahoo! Finance]Yahoo! Finance
- LifeWallet Announces New Comprehensive Settlement with a Group of Affiliated Property & Casualty Insurers and Completion of First Version of LifeWallet's Clearinghouse System Through its Exclusive Healthcare Partnership with Palantir Technologies [Yahoo!Yahoo!
LIFW
Sec Filings
- 9/27/24 - Form 424B3
- 9/27/24 - Form 424B3
- 9/27/24 - Form 424B3
- LIFW's page on the SEC website