secwatch.observer — SEC 8-K summary
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Issuer:     CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV)
CIK:        0001801170
Form:       8-K
Filed at:   2024-08-05T23:59:59+00:00
Accession:  0001801170-24-000158
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clover Health Q2 2024: first GAAP net income of $7.2M, raises FY2024 guidance
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- Q2 GAAP net income from continuing operations $7.2M vs. loss of $28.9M in Q2 2023; first positive quarter.
- Total revenue $356.3M, up 11% YoY; Insurance revenue $349.9M, also up 11%.
- Insurance MCR improved to 71.3% from 77.2% (590 bps improvement); Insurance BER improved to 76.1%.
- Adjusted EBITDA $36.2M vs. $9.9M in Q2 2023.
- FY2024 guidance raised: Insurance revenue $1.35B-$1.375B, Adjusted EBITDA $50M-$65M (from $10M-$30M).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801170/000180117024000158/0001801170-24-000158-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801170/000180117024000158/clov-20240805.htm
  HTML page:      https://secwatch.observer/filing/0001801170-24-000158

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