---
schema_version: "secwatch.filing_event.v1"
accession: "0001801170-25-000269"
form_type: "8-K"
ticker: "CLOV"
cik: "0001801170"
company_name: "CLOVER HEALTH INVESTMENTS, CORP. /DE"
filed_at: "2025-11-04T23:59:59+00:00"
generated_at: "2026-05-17T00:40:54.500997+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Clover Health Q3 revenue up 50% YoY to $497M, but cuts FY25 adjusted EBITDA guidance to $15M-$30M

## Summary
- Q3 GAAP net loss $24.4M; revenue $496.7M vs $331M YoY; membership 109,226 (+35% YoY).
- Adjusted EBITDA Q3 $2.1M; YTD $45M; FY guidance cut to $15M-$30M from prior $50M-$70M.
- Insurance BER Q3 93.5%; full-year BER guidance raised to 90%-91% from 88.5%-89.5%.
- Revised FY25 insurance revenue guidance up to $1.850B-$1.880B; midpoint +39% YoY.
- Management cites new member mix and elevated utilization; sees 2026 tailwinds from 4-star payment and CMS rate.

## SEC filing metadata
- accession: 0001801170-25-000269
- form_type: 8-K
- ticker: CLOV
- cik: 0001801170
- company_name: CLOVER HEALTH INVESTMENTS, CORP. /DE
- filed_at: 2025-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801170/000180117025000269/0001801170-25-000269-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801170/000180117025000269/clov-20251104.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801170-25-000269
- JSON: https://secwatch.observer/filing/0001801170-25-000269.json
- Plain text: https://secwatch.observer/filing/0001801170-25-000269.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.