secwatch.observer — SEC 8-K summary
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Issuer:     CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV)
CIK:        0001801170
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001801170-23-000037
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clover Health Q1 2023 Insurance MCR improves to 86.6%, raises FY guidance
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- Insurance revenue $317.1M (+14% YoY); Insurance MCR improved 980 bps to 86.6% from 96.4%.
- Net loss $72.6M vs $75.5M Q1 2022; Adjusted EBITDA $(30.5)M, improvement of $40.4M YoY.
- FY 2023 guidance raised: Insurance MCR 87%-89% (prior 88%-91%), revenue $1.18B-$1.23B, Adj. EBITDA ($125M)-($175M).
- Non-Insurance revenue $205.8M (-65% as planned); Non-Insurance MCR improved to 96.1% from 99.8%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801170/000180117023000037/0001801170-23-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801170/000180117023000037/clov-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001801170-23-000037

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer