Clover Health FY 2023 net loss improves to $213.4M; Insurance MCR drops to 81.2%

CLOVER HEALTH INVESTMENTS, CORP. /DE

Full-year 2023 net loss of $213.4M vs $339.6M in 2022; Insurance MCR improved to 81.2% from 91.8%.
Adjusted EBITDA loss narrowed to $44.7M in 2023 from $290.4M in 2022.
Q4 2023 revenue $510.3M; Insurance revenue grew 12% YoY to $303.1M.
FY 2024 guidance: Insurance MCR 79%-83%; up to $20M Adjusted EBITDA profitability at the high end.
Adjusted SG&A (non-GAAP) of $302.0M in FY 2023, down from $312.5M in FY 2022.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CLOVER HEALTH INVESTMENTS, CORP. /DE reported fourth quarter and full year ended December 31, 2023 results: revenue $510.3 million, net income net loss of $70.5 million. Guidance initiated.

Period: fourth quarter and full year ended December 31, 2023
Revenue: $510.3 million
Net income: net loss of $70.5 million
Guidance: initiated
Result: reported results

Exact text from the filing

will host a conference call today at 5:00 p.m. ET to discuss its operating results and other business highlights. For the fourth quarter 2023, the Company reported revenue of $510.3 million and net loss of $70.5 million, with full-year revenue of $2,033.7 million and net loss of $213.4 million. Adjusted EBITDA during 2023 improved to a loss of $19.1 million in the

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Source: SEC EDGAR

accession 0001801170-24-000063

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