Clover Health Q3 Adjusted EBITDA loss narrows to $5.1M; raises 2023 guidance

CLOVER HEALTH INVESTMENTS, CORP. /DE

2023-Q3 EPS reported -$0.30 revenue$1,523,469,000

Revenue $482.1M; Insurance revenue up 12% YoY to $301.2M; Non-Insurance revenue down 70% to $176.0M.
Insurance MCR improved to 78.5% from 86.3% YoY; year-to-date MCR 80.8%.
Net loss of $41.5M; Adjusted EBITDA loss of $5.1M, vs. loss of $55.5M in Q3 2022.
Full-year 2023 guidance: Insurance MCR 81%-82%, Adj. EBITDA ($55M)-($80M), improved from prior.
CEO cites Clover Assistant, operational enhancements, and 3.5-star rating for margin improvement.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.96

CLOVER HEALTH INVESTMENTS, CORP. /DE reported the third quarter 2023 results: revenue $482.1 million, net income net loss of $41.5 million. Guidance reaffirmed.

Period: the third quarter 2023
Revenue: $482.1 million
Net income: net loss of $41.5 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

For the third quarter 2023, the Company reported revenue of $482.1 million and net loss of $41.5 million.

View on SEC.gov

Browse all earnings releases →

CLOVER HEALTH INVESTMENTS, CORP. /DE filing history →

Source: SEC EDGAR

accession 0001801170-23-000103

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.