12:14 PM EDT, 08/01/2024 (MT Newswires) -- MultiPlan ( MPLN ) shares were down about 18% in recent Thursday trading after the company reported a wider Q2 loss from a year ago and lowered its full-year revenue guidance.

The company reported a Q2 net loss of $0.89 per diluted share, compared with a loss of $0.06 a year earlier.

Two analysts polled by Capital IQ expected a loss of $0.05.

Revenue for the quarter ended June 30 fell to $233.5 million from $238 million a year earlier.

Two analysts surveyed by Capital IQ expected $248.6 million.

For Q3, the company expects revenue of $230 million to $245 million.

The consensus among two analysts is for $257.6 million.

For 2024, MultiPlan ( MPLN ) said it now expects revenue of $935 million to $955 million, down from $1 billion to $1.03 billion previously.

Two analysts polled by Capital IQ are looking for $1.01 billion.

Separately, the company said it has appointed Doug Garis as chief financial officer, effective Monday, succeeding Jim Head.

Garis most recently served as CFO of Oracle (ORCL) Health and Life Sciences, MultiPlan ( MPLN ) said, adding that Head will transition to a strategic adviser role to the company through the end of the year.

Price: 0.37, Change: -0.08, Percent Change: -17.91