secwatch.observer — SEC 8-K summary
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Issuer:     CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV)
CIK:        0001801170
Form:       8-K
Filed at:   2024-11-06T23:59:59+00:00
Accession:  0001801170-24-000231
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clover Health Q3 net loss narrows to $8.8M; raises FY 2024 Adj. EBITDA guidance to $55-65M
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- GAAP net loss from continuing ops improved to $8.8M from $33.6M YoY; Adjusted EBITDA rose to $19.3M from $2.7M.
- Total revenue $331M (+8.2% YoY); insurance revenue $322.6M (+7.1% YoY); Insurance MCR improved 50 bps to 78.0%.
- Year-to-date GAAP net loss improved $117.4M and Adjusted EBITDA improved $87.2M vs 2023.
- New FY 2024 guidance: Insurance BER 81-82%, Adj. EBITDA $55-65M (midpoint raised $5M), Adj. SG&A $290-295M.
- Flagship PPO plan achieved 4.0 Stars for payment year 2026; management plans to invest in membership growth in 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801170/000180117024000231/0001801170-24-000231-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801170/000180117024000231/clov-20241106.htm
  HTML page:      https://secwatch.observer/filing/0001801170-24-000231

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