All right. Thank you, everyone, for joining us this morning. My name is Harry Pearson. I'm with J.P. Morgan Healthcare Investment Banking team. It's my pleasure to introduce Travis Dalton, President and CEO, and Doug Garis, CFO of Clariv. We're going to have a presentation followed up by a little bit of Q&A. Travis, you want to take it away?
Yeah, thanks, Harry. Appreciate it. Good morning, everybody. Thanks for your time. Thanks for being here. As noted, I'm Travis. I'm the CEO. I joined in March of 2024. And then Doug Garis is our CFO. So thanks for having us. Okay, so I'm going to take a walk through the park of the artist formerly known as MultiPlan, now Clariv. And so what I'll do is take you through a little bit of our vision, some of our product set, how we've been thinking about the transformation of the company, and where we're going. So look, our purpose statements can become pithy. Oh, wow, you guys are about transparency. This is what we do. We've done it for 30 years. So interoperability was the word of the decade.
Last decade, transparency seems to be the word now. But to make it simple, we bring really clear insights around pricing. We bring clear insights to employers that are seeking to manage risk and employee benefit, and we've been focused on affordability solutions in healthcare for almost 40 years, so we've gotten pretty good at it, and if it doesn't fit into this purpose, we're not going to do it, and so we're not after a shiny lure, we're not making a huge left turn, we're going to focus on innovation inside of this purpose.
Look, we serve a really, it's probably not fully understood the number of constituents that we have in healthcare, and one of the reasons I came to the company was because it serves the continuum of care, not just one segment, and so we do have 700-plus payer clients. We're actually very proud of that. It's not one. It's not 10. It's 700. We have a lot of clients: health plan members, plan sponsors. We have a 1.4 million provider network. It's the crown jewel of the company that I think has been underinvested in, and we're investing more in our network. And so all of these things work together to see claims. We have claims expertise, but also to find savings and value in healthcare. And that's the continuum of care. And we operate across it.
And we're actually really proud of that. And our solutions fit together in a really nice way, which I'll talk about. We've been on a journey since I got here. I think we're proud of our progress. Doug and I were joking there aren't too many CFOs and CEOs at the end of last year that were upset that their stock was only up 180%. But we were up 180%-190% year- over- year. We're proud of that. We still think we're wildly undervalued, in my view.
And we're going to prove that. But our journey is. We're not. I didn't come to do financial engineering. I came to build a great company. And so to me, building the company is the thing that adds the most value. It's also the thing that's exciting. And so we've been laying the foundation for long-term sustainable growth over time, not just short-term thinking. And so we have some structure we put in place in 2024. So clarity, alignment, and focus. All of our people could tell you about this. Clarity of our purpose, which I discussed. Alignment of our talent. And we've turned over and upgraded our management team and a focus on key priorities. We built the company around that. We spent last year, called The Turn. We like to name things.
I do, because I think people can get their mind around something when it's called something and they have a goal. Last year, we called The Turn, and I'm really proud to say that we returned to growth well ahead of where I thought we'd be, honestly. So we had several sequential growth quarters. We're happy with how we'll be reporting our results here in a few weeks, but we're pleased with our progress. Then the other thing that we did was we spent last year building a sales team and putting together a go-to-market function that, frankly, was just non-existent. So we're just getting started. We're just getting started. I mean, we've had monstrous pipeline growth, bookings growth. So that's a nice forward indicator for us on our revenue conversion that we're going to have positivity forward.
This year, we called it the way up. Our goal is we intend to grow. Our focus is on growth. I tell the team, that means we're going to focus on the real economy: bookings, revenue, expenses, free cash flow. The shareholder value will come when we demonstrate enough consecutive performance and credibility. And so we're going to focus on that and focus on growth. And then the way forward for us, we'll talk about, but I think it's really as a technology company that really can sustainably grow in a diverse way. We're not so highly concentrated. So we're diversifying our client base, diversifying our product set. And now we're able to grow and sustain that growth over time in a real meaningful way in a changing environment in healthcare.
And the market challenges aren't new to anybody. I wouldn't say we take glee in these challenges. We're all consumers of care in some way. But I could flip them off for you. It's cost, inflation. Regulatory environment is highly fluid. Transparency, fraud, waste, and abuse. These are all key words, key topics, key regulatory topics. We have products and solutions that fit into every one of those areas as it relates to affordability and transparency. We are really well positioned in a high-cost increase environment, but also a highly changing environment because we're flexible. And one of the things I liked about the company when I joined was that we're big enough to matter, but we're small enough to move fast, be agile, and flexible.
And so we can focus and we can respond quickly, which is one of the things I think has been a strength for us with our clients. And so in that environment of medical inflation and waste, we should catch some of that nascently just through healthcare economics and our core products. But I think some of our newer offerings should lean into those trends as well. And so I like our position with tailwinds on the macroeconomics of things. So how are we building the company? Look, our goal was to do it from the bottom up. So we made a material investment in our legacy technology. We moved almost all of our products now in the Oracle Cloud.
So we made a massive investment last year to get our technology infrastructure in place, to get cloud-enabled, to get off of on-prem, and to unify our data architecture was the second thing. So technology infrastructure, we're scalable, we're malleable, we're on the Oracle Cloud, we're using modern tools. We've rewritten our legacy apps. We're in the process of doing that. I don't think a lot of our competitors are doing that. I think that that's different over time. Over time, that shows up different because you don't have legacy tech debt, and so that's important for us. We're unifying our architecture so we can utilize data models, AI, other tools that are coming. It's not just about the widget. It's about the data infrastructure that underlies it.
That's important, so we're making those investments that I think will yield long-term advantage for us. You've seen our product areas. We'll be launching a strategic services focus this year. We get asked for strategic services all the time. And in the past, we've more or less just given it away. We're not going to do that. We're going to be very intentional in what we're doing and our focus in that area as we seek to provide more value. And then, as I mentioned, we've launched new market verticals. So we're now selling into payers, TPAs, brokers, consultants, government providers through channel partners in a material way.
And we've launched an international business in the last year using our same core products that we have in the U.S. internationally because they're on the same U.S. coding standard, have the same data infrastructure, and many times use the same EMR, which is the world that I came from. And so this is our vision is we're building something here from the ground up with technology, digital transformation at the forefront. I think that's built to last. So where does that take us? Over time, we've got the right people. We're serving more of the healthcare ecosystem. I've mentioned sustainable growth over and over. We've got a capital structure that fits our needs. We know we have work to do there. We're going to continue to mature our capital structure as we go forward.
But we're not looking to make sudden movements. Our goal is to grow this company and delever over time organically. And if something comes up advantageously, we intend to take advantage of it. But we'll do that from a position of strength if we're performing. And so we're going to continue to work on that. And then being able to just I tell the team, our say-to-do ratio has to be 100%. Say it, do it, say it, do it. You do that enough, good things happen. And so we now have the ability with Doug and his team here to call a number and hit a number predictably.
And we've started to show that progression over the last three quarters as our say-to-do ratio has improved. Many of you may know the company. These are products and offerings. Our claim solutions are very focused on bringing insights to what I would say is an extraordinarily opaque part of the market. And so a lot of what we do there with Surprise Bill and Data iSight is we simply bring back a price for something that isn't clear, isn't transparent, isn't known. And then we try to clear the market in that way. We don't make those decisions. We don't set those prices. We simply bring an insight. That's what we do. And then decisions can be made around that by those that are relevant stakeholders. We have a network, as I mentioned.
One of the things that was interesting about the technology innovation for us is that we can now curate networks much more quickly. We had a big complementary network, our primary network. It was large. It covered a lot of area. That's valuable. But what's more valuable is if someone comes to me and says, "Hey, I'm thinking a partner, a client," and says, "Hey, we're thinking about the Southeast. We're thinking about Florida. We're thinking about behavioral health in New York." We can actually cultivate a network like that. So one of the things that we've done with our technology innovation is come up with a product called Network Builder, where what used to take us six months now takes us a click of a button.
So we can immediately come up with custom network solutions for clients. That's different. That's unique. I think that will serve us well with this product as we go forward. Payment and revenue integrity, it's a growing segment for us. It's important for us. We like that business. We think it's going to do well. And those three things really fit well together. And most of our clients buy them all when they buy. So we're getting better at bundle selling because we brought in a more mature sales team. We've really upgraded our leadership team on the sales side and hired a chief growth officer, and we're starting to make progress. BST is our down market, kind of mid to down market solution for smaller employers, which is an all-inclusive network RBP product.
And then our data and analytics business, which are our solutions that we use for providers and others where we bring back insights based off of publicly available data. So for a provider, we can basically look at their chargemaster and tell them with clear specificity exactly how they're priced against competitors of like size and like regions and a clear understanding of where they sit inside the network ecosystem and how their employer networks are structured. That's pretty important. And we also have used it ourselves, which Doug can describe. In the last two years, I haven't been able to find anybody else that could say this. We've been able to improve our employee benefit and take out $4 million of real cost.
Our plan costs have gone down two years in a row because we use our own product. So we're able to evaluate our demographics. We're able to look at high risk. We're able to use BenInsights to predict where our high-cost claimants are going to be. And we have the ability to evaluate that very clearly against the many, many iterations of planned benefit on offer. We think that's a huge opportunity. And that's part of the work we're doing with Oracle as part of HCM integration, where we're going to put that inside of Oracle's human capital management system as an offering through Oracle channel for employers that want real-time insights on their employee benefit plan and predictable insights on their cost structure.
That's a pretty big deal. We're going to unlock that as a big deal, and we're going to prove it. But we're going to demo that here soon. And it's an amazing product and capability. So market aligned. This is when I say the strategy of the company is horizontal products across vertical markets off of our core and innovate out. The red box was basically the whole structure of the company when I came. 99% of our focus was in that small area. Since then, we've been able to expand our TAM dramatically because we're now selling into many, many other market verticals with existing products.
We did not need to do a lot of customization for our product set in order to expand our TAM, increase our bookings, increase our sales potential. I have many examples of this. The easiest one that comes to mind was international. I covered the Middle East when I was at Oracle and Cerner. I have linear relationships. They have the same problems there that we have here. Denials are too high. Costs are too high. Clearinghouses are inefficient. We were able to tackle that with our advanced code editing tool.
We just took our ACE tool and just put it on top of the RCM for Burjeel, and we're able to drive denials down by 7%, which is a $70 million benefit to Burjeel. That's what that was about. It wasn't about seeking something. It's not fun to go for 15-hour flights to Dubai all the time. But it was low-cost entry into a new market using current and existing products. We think that's real potential for us over time. I mentioned our addressable market. I'm not going to spend a lot of time on this. We'll size it up. We've had tons of discussion with our analysts and others. Our market potential has increased dramatically in the last two years. That's going to show up in results.
So our growth vector, laser-focused on our existing clients and growing the core of the business with better innovation on things like the network, payment revenue integrity, deploying AI against our NSA solution, and improving our win rates for IDR. Those are the kind of things that's bread and butter to us. We're going to do that. Advancing growth areas so that B ST product was an acquisition, BenInsights was an acquisition. We've been spending the last year integrating those solutions. Now I think we're ready to launch and start to show better results against that. New market verticals I've described, and then product innovation. And so we've stood up a product organization in the last year and a half, and we have a CPO.
And so we've been spending a lot of time. We're going to publish our roadmaps. Imagine that. We have over 30 solution enhancements this year and 10 new products coming out. And that will be published. It will be known. We're going to put it in front of our clients. We're going to stand behind our commitments. And that's how you grow a technology company is with clarity, alignment, focus, publish roadmaps, and then you listen. And when you listen, you get better because your clients will help you define your roadmap that matters most. So kind of I get asked this question a lot, like, "Why can't someone just replace you? Why is this so sticky?" I mean, there's a couple of reasons. One is, turns out relationships do matter.
We got 30 or 40 years of experience with our clients. We have deep-seated relationships. We cover our clients top to bottom. We care about them. They care about us. That matters. We've been writing custom rules and creating custom capabilities for each of our clients for years. So we have 300,000-400,000 custom business rules that are written. That's hard to replicate. We have data rights agreements with them. We have access to contracts. We have access to the things that you need, even with AI, turns out. You can't just throw a widget on top of something if you don't have rights to the data. You don't have rights to the contractual elements that you need. We have technology and scale. We see a massive amount of data.
We think that's useful for us. We have a high provider acceptance rate. Contrary to what you may hear, we actually, over 90% of the time, it works extremely smoothly. We bring back a transparent insight that wasn't well known. The provider agrees to it. We financially negotiate it, and we move on, and everyone is better off for it, including healthcare. And we respond quickly. Our clients need something. We respond. NSA is an example of that. State Surprise Billing is an example of that. There's a number of products and solution areas where clients have asked us to come in and help them. We've been able to do it like that.
So all those things create, I think, a competitive advantage on top of the massive investment we're making in technology and analytics. And so together, we like our competitive position. And I tell people, "We're not the thing looking for an exit. If we were going to do that, we would have done it when we restructured our debt." We're here to last, man. I came here to build a great company, not to create something that we're going to exit quickly and monetize. So I also think that's differentiated from many of the point solutions that are out there seeking to be gobbled up in some other way. So with that, I'm going to turn it over to Doug, and he'll go through our financial overview as we go forward.
Thank you, Travis. And good morning, everybody. All right. So can't have a financial overview without deep financials. So when you look at our Q3 print, we grew our revenue by 7% on record EBITDA. And so over the last 12 quarters, our Q3 print was our strongest revenue print on an absolute dollar basis. On our adjusted EBITDA, $155 million was our strongest quarter in nine quarters. As Travis mentioned, when we laid the foundation for 2025, it was we joke around and say, "Dunking on a seven-foot hoop." And so we had initially guided the year down 2% to flat.
And we were cautiously optimistic to make sure that we could curate a recovery in the second half of this year so that we can monetize eventually a significant investment we're making in our technology infrastructure. And so we are really pleased with Q2 progress. We had a beat and raise. We came right behind it in Q3 and had another sequential growth quarter, and importantly, a consistent approach to our revenue and earnings that allows us to make significant investments. When you think about it, on an annualized basis, we spend about 14% of our revenue in R&D.
Over the recent year, we've actually been able to accelerate investment in R&D with a culmination of our Vision 2030 transformation, which is predicated on our technology journey with Oracle, first with our lift and shift to OCI, which was complete in September, followed by the repositioning and rewriting of our core legacy applications, which will conclude over the next few years. On a net incremental basis, we're going to spend $100 million on that technology transformation.
And as Travis alluded to, over the last five years, we've spent $500 million in our core technology stack. And so on an ongoing basis, we're going to spend $160 million-$170 million a year to stay ahead of the curve, ahead of our competition, investing in problems that our clients have to future monetize that. When you think about our business, it is an out-of-network repricing business, cost containment, and affordability. That's about 60% of our revenue. And our revenue model is an ROI-based revenue model called Percentage of Savings or P-save. Simply put, we get paid when our customers get paid. It's an extremely sticky business. It's a durable business, and it's a very profitable business. And so in a given year, we reprice about 13 million claims.
When we look at a true statement of healthcare inflation, I think this graph perfectly shows the trends that we've all seen and experienced over the last few years. Over the last 12 quarters, our savings and revenue per claim is up nearly 30%. A couple of things are happening. One, healthcare inflation is happening, and it's real. Two, the mix of claims that we're seeing that are going out of network have trended much more highly towards high-cost claimants, specifically in surgical, ASCs, and behavioral health, where our products and our insights perform extremely well. Finally, when you look at this base, our percentage of savings business, it's about 90% of our revenue.
And so on a sequential basis, while we've seen less claims go out of network, we're seeing much more high-cost claimants, which is emblematic of the types of claims that we're seeing go out of network, which, again, is heavily mixed towards things that are happening outside of the four walls of the hospital, namely in ambulatory and the behavioral health sector. When we think about our strategic investment prioritization and what Travis and I and our leadership team are spending a lot of time focusing on, first, second, and third is our organic growth thesis with Vision 2030. We joke around that it's not Vision 20 Minutes. It's Vision 2030. We refinanced the company at the end of 2024 and into early 2025 so that we could set this business up to unlock growth.
And once we get this business growing, our core business, that allows us to invest in new products and innovation. But make no mistake, we're spending $100 million in digital transformation, our Vision 2030 plan over the next few years, with high expectations to get operating leverage, scale advantage, and revenue acceleration. Next, we are in a highly levered situation. We're going to end the year a little under eight times levered. And over the next few years, just through the organic growth of the company, we expect to get approximately a half a turn or more of leverage reduction starting in 2026 and carrying through the next few years so that when we get to our refinancing window, we can regular way refinance the company if we so choose to.
And then we recently elevated our focus on value-creating M&A. We have had a little bit of constraints within our capital structure because of our high leverage situation, but we are investing in things on a bite-sized basis that are strongly aligned to our core focus. And then most certainly on our purpose, which is anything related to affordability and transparency, we're going to take a look at this coming year. And then when I think about what gets me excited about the future, there's a few things. First, we talked about our essential role in the healthcare ecosystem. Travis had mentioned hundreds of thousands of business rules and customizations.
As we think about how AI is going to impact the future, AI embedded in workflows for key processes and systems is going to win. And so when we look at payers and TPAs, that's our largest segment. We provide immense value to a profit-restricted component of healthcare that is a big piece of the market, and then as we unveil and unfurl new solutions in the provider channel to employers, that only is going to deepen our moat, which is predicated on having 15 petabytes of claims data, processing close to 6 billion transactions a year, and spending quite a bit of money to take advantage of the benefits of our tech modernization, which is well underway.
We do have an operating platform that's built for scale. Historically, we sold our products as kind of point solutions to buying offices within a payer's total buying office. There's a great opportunity for us to bundle our services, and we've had a couple of great wins this year to where we've been able to transact enterprise-level deals, bundling our core services with some of our new technology.
And I would expect us to announce that in the future too because it's been a great win for us. And then a few other things, innovation. We're going to spend a little bit of our time on innovation, and we're going to focus on things that attach to our core products. We're also going to partition a little bit of our capital to focus on what's next in healthcare. And we have a few really interesting ideas. But what that leads us to is we have a strong recurring revenue core business in multiple avenues to unlock growth. 2026 is a critical proof point for us now that we've stabilized the business to focus on execution.
And then finally, what we'll land on is we have a refreshed leadership team that's truly in year one of us being together. And so over the last year and a half, Travis has done an incredible job assembling a world-class leadership team from technology, from the provider space, and really the minus one and two leaders that we've hired. Now we are focused as a leadership team. We have two or three big things that we're working on, and we're really excited for what 2026 and beyond holds. And with that, I think we'll wrap it up and go to Q&A. Thank you.
Thank you both so much for that comprehensive walkthrough. I wanted to kick off with one question. Travis, maybe turn to you. You mentioned Vision 2030 and branding 2025 as the turn. Can you describe some of the biggest changes that you've implemented as part of the turn since becoming CEO two years ago? And what are the reasons and what was the genesis of that decision?
Yeah, happy to. I mean, it's actually the thing that excited me most about the opportunity was the fact that, one, my core belief was we had a lot of products that I thought worked really well and added high value that could be extrapolated into further growth opportunity across multiple markets. Two, really good people with a service culture. And so that combination of good people, lots of knowledge and market relevance and product, I thought was underutilized or undervalued wildly. And so as I looked at the opportunity, I didn't see the problems with that. I saw the potential. I knew we needed to professionalize the company. It needed to run like a public company.
And so part of the job first was starting a maturation process of, let's bring in senior leaders and executives that are highly motivated, highly incented, and then have run in big public growth environments before that can come in and set up infrastructure and the capability to run as a public entity first. So laying a foundation that matters, getting all of our associates aligned behind one single purpose, which is affordability, driving out cost, and then ultimately putting clear KPIs on that. I tell the team, "You get what you inspect, not expect." And so we inspect the business every single week. We have EBRs, QBRs. We have all those things you expect now so that we can not just react, but we can also be proactive.
So it's been setting up really good infrastructure, bringing in great people. And then, as I mentioned, what was, I would say, shocking and optimistic for me was that the company had done well with no sales team, really. I mean, we had an account team that covered our core clients really well, served them great, but we didn't have a new growth, new logo sales team. And we didn't have a cross-sell team that really was attacking white space on existing clients. So we've massively increased our pipeline, our funnel. And at the same time, our pipeline has grown, our bookings have grown. And over half of that is in our existing client base, which when I joined, most people told me, "Oh, fully saturated, man. You're toast." No way, man.
We've got half of our opportunities in those existing clients. And then we're attacking new logos. I think we've had over 20 new logos that we reported out already the first three quarters of last year, so it's really been that progression of doing it in a structured way with discipline, focusing, and just pushing forward, and then I should also mention we took a big step by restructuring $4.5 billion of debt, so that was no small feat. We pulled off the Triple Lindy. We were able to get that done.
That was Christmas Eve in 2024, right, so we did not have the holiday that others had because we were working on a complex debt restructuring, but we got it done, so that set us up to focus through Vision 2030 in a way that we could run the company for growth and mature into our opportunity versus having something looming or hanging on us all the time. And so really, that's how we've done it in a methodical, structured way with leadership and discipline and all those boring things that are just true. Those are the things that matter most, right? So that's how we've been building the company off of the vision.
That's great. It's really helpful. You mentioned you have obviously hundreds of customers. Can you also speak about the larger customer relationships that you've had and those long-standing ones? How have those evolved since you've joined? How are you servicing them differently and thinking about helping them as you've built out this much larger suite of product portfolio?
Yeah. So Doug can jump in too. We've done a couple of things. So one is we realigned the alignment part of Clariv Alignment Focus is you align the structure of the company to what you're trying to achieve. And so one of the alignment things we did was we created a client success organization that's wholly and solely focused on existing clients. That really didn't exist. So it's a different way to serve a client that's worked for me well at other companies, other places I've been. And so that laser focus on those client relationships and servicing them well is really the credibility that keeps them with you. And so focus on the senior-level relationships.
I've been involved with them as well as the rest of our team, expanding their knowledge of who we are and what we do. Most of them weren't even aware of BenInsights in a meaningful way. That's a great product set for us. So I think it's been a combination of, and the team will tell you, I tell them, "I use the anaconda thing all the time. Look, if you're going to bring me a solution, it better be the whole solution."
And the problem is X, you surround it with people, process, technology, and you attack it. So we've thought about our clients that way, not just in a single way like, "Can I sell them another bit?" It's, "Hey, who are the people on the account? Do I have them covered? How are we servicing them? What did they say on their earnings call? What problems are they trying to solve?" So we've really done that. And then it's culminated in the renewal of our top 10 clients.
So I'm not sure many people would have thought we could do that in a year. But we've been able to renew our top 10 clients for multi-year terms, which was not the structure before. So we're not only serving them better, but we're actually lengthening the terms of service that are committed to us, which gives us, again, room and space to operate. Do you want to add anything to that?
Yeah. I would just say our top 10 clients are 70% of our business. And client concentration is a great thing if you have infrastructure in place to where you're serving needs. I think we've demonstrated that with approximately 60% of our pipeline being within our top install base. And so I think another important thing too, as we talked about earlier in the presentation, having a robust product organization with a product roadmap allows you to have a different conversation when you publish what you're going to do.
And if it's off-kilter or off-message with our clients' problems, we have a mechanism now through a client success organization partnering with a product organization to say, "If you spend a bunch of money on these three things, our clients won't buy them in three quarters." And so that flywheel of having customer concentration is not a great thing if you're not nurturing your clients' needs. We actually view it as a significant opportunity in the future because we've spent this last year putting the proper protocols in place to have that feedback loop. So if a customer or a client has a need, we have the ability to move pretty quickly and build a new product or fill a service gap for our large customer base.
That's interesting. Yes. Really closing any daylight between you and your clients. We have a few minutes. I wanted to check with the audience if there are any other questions from the gallery.
Hey. Great job, guys, on the presentation. You talked about your network builder a little bit and how you've accelerated the timeline to developing it. Very interested in that. Maybe tell us more about the network builder. And also, do you think your movement to a more modern technology stack has contributed to that faster timeline?
Yeah, absolutely, so as I mentioned when I was talking, the prevailing view was that the network was kind of a decaying asset or a negative growth thing for us. We saw that completely differently, and so I saw massive potential in our network products and capabilities, not just with, I would say, curated or narrower networks, but also more aggressively selling our complementary network, selling through new channels like TPAs, brokers, consultants, and being very aggressive in bringing that asset forward. So it's allowed us not only to drive some positive growth, but it also is an anchor that you can pull other things through, so as we've sold the network, we've been able to pull through other products and services behind it.
Specifically to your question, there's no way we could have launched the Network Builder product without the digital transformation and technology investments that we've made. So the fact that we're on modern technology and we've been working on data architecture as well so we can unify our data architecture against many legacy acquisitions. We now can do things like that that used to take us months or weeks. Reports are much faster. We're able to do things like quickly evaluate and understand our network concentration in certain areas or parts of the country or with certain specialties, as I mentioned. And so the technology story wasn't really about, "Hey, I just love to do I want to call my friends at Oracle or pick your brand.
It doesn't matter." It really was about, "We need to make things better, smarter, faster for clients, and Network Builder was an example because now a client or partner can come to us and say, 'Hey, I'm getting a lot of demand for something across a certain specialty in a certain area,' and we're able to very quickly evaluate that demand against the providers in the area, the discounts on offer. And/or guess what? It turns out we also have the ability to go create that. A lot of it exists, but if it doesn't, we're very good at servicing a network, and so we can go build it out or round it out in a meaningful way, and so the two things absolutely go together.
The last thing I'll say is that that technology story also was very relevant to our international business. I can scale into any Oracle Cloud Infrastructure platform in the world like that quickly because we're on the cloud infrastructure. So we didn't need to go do a bunch of on-prem. We didn't need to go set up a bunch of physical assets. We were able to quickly deploy our resources in a sovereign way to meet data rights and data sovereignty agreements in particular parts of the world. That's a huge advantage for us. Huge. So all of that kind of plays together. But hopefully, I answered your question on Network Builder. Yeah. Thanks for the question. Appreciate it.
Thank you. We are a little short on time. So maybe just a quick one from me. If we fast forward a year and we're back here at JPM's healthcare conference, the 45th, could you give me maybe one or two things that each of you would be hoping to update us about Clariv and your journey?
Yeah. So first and foremost, this year is a year of execution. So revenue, EBITDA, free cash flow, we're at the watermark now where our business is going to start delivering levered free cash flow. And the progress against our capital prioritization, this is a year of proof, right? We have higher expectations. It's a year of delivery. So I would love to come on stage and present a financial growth story with strong EBITDA and free cash flow contribution. And the second thing is, as a product and technology organization, we'd love to actually explain our business in the context of some of our product innovation. We have a couple of really interesting things that we're working on. And the best way to describe it is to look, touch, and feel our new products.
So hopefully, we have something much more meaningful on the new product and innovation front to showcase or present next year.
Yeah. I would say, as I mentioned, the obvious ones are numeric, as you would know, right? I mean, we're going to focus on revenue growth, client acquisition. We're going to focus on free cash flow. But beyond that, I would say one thing that really is important beyond some product launch, some interesting things we're doing is, yeah, it's our people, right? I mean, to me, we measure the "satisfaction" of our employee base, great places to work. We participate in that. We listen. And at the end of the day, my fundamental belief is you get enough really great people that are committed and motivated and have purpose.
The purpose and the personal go together in a way that you get so much momentum that's beyond any single leader. And so I want all 2,800 of our people to be fully vested and committed to what we're doing in a way that matters most. And if we get that, there's no doubt in my mind we're going to persevere long enough to be wildly successful. And so that's a key focus for us.
Great. Travis, Doug, thank you so much.
Thanks, Harry. Appreciate it.