secwatch.observer — SEC 8-K summary
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Issuer:     CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV)
CIK:        0001801170
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001801170-24-000101
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clover Health Q1 2024: first Adj. EBITDA profit $6.8M; guides to full-year profitability
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- Insurance revenue $341.7M (+7.8% YoY); total revenue $346.9M.
- GAAP net loss from continuing ops improved to $23.2M from $79.7M loss in Q1 2023.
- Adjusted EBITDA profit $6.8M versus loss $37.5M a year ago; Insurance MCR improved 870 bps to 77.9%.
- Raised 2024 guidance: Insurance revenue $1.30B-$1.35B; Adj. EBITDA profitability $10M-$30M.
- Board authorized $20M share repurchase over two years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801170/000180117024000101/0001801170-24-000101-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801170/000180117024000101/clov-20240506.htm
  HTML page:      https://secwatch.observer/filing/0001801170-24-000101

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