Here are the 10-Q quarterly reports from Recovery Inc A (MSPR) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MSPR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MSPR filings page.
MSP Recovery, Inc. reports extremely weak results and severe financial strain for the quarter ended September 30, 2025. Claims recovery income fell to just $198,000 from $3.6 million a year earlier, while heavy non-cash claims amortization and interest pushed the quarterly net loss attributable to the company to $167.8 million, and the nine‑month loss to $432.6 million.
At September 30, 2025, cash was only $1.8 million versus $12.3 million at year‑end, total liabilities were $2.40 billion, and total equity was a deficit of $844.4 million. The company explicitly concludes there is substantial doubt about its ability to continue as a going concern and notes heavy reliance on Yorkville funding and related‑party financing.
The company effected a 1‑for‑7 reverse stock split on September 1, 2025 and, as of November 14, 2025, had 13,774,399 Class A and 474,740 Class V shares outstanding. Nasdaq has issued a delisting determination for failure to meet the minimum stockholders’ equity requirement; trading is being kept pending a December 11, 2025 hearing, with no assurance of a favorable outcome.
MSP Recovery, Inc. (MSPR) reports continued operational activity but clear liquidity and legal timing risks. The company identified recoverable claims using proprietary Algorithms and reported total recoveries of $1.4 million for the six months ended June 30, 2025 and gross recoveries of $18.1 million for 2024. Intangible assets related to a consolidated VIE were $1.2 billion at June 30, 2025 versus $1.4 billion at December 31, 2024. The company disclosed significant related-party interest expense (e.g., $92.9 million and $182.3 million reported in certain periods) and material related-party balances. Working capital funding included $2.1 million from Yorkville (with $0.36 million unfunded) and $6.8 million advanced under the Hazel Working Capital Credit Facility; however, no capacity remains under that facility as of the filing. Legal risk: an Eleventh Circuit ruling could reduce PVPRC by an estimated $10.8 billion if applied broadly, and the company is pursuing tolling and other legal strategies. The company also disclosed that it has not recognized certain TRA liabilities because realization was deemed not probable.