secwatch.observer — SEC 8-K summary
======================================

Issuer:     CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV)
CIK:        0001801170
Form:       8-K
Filed at:   2025-11-04T23:59:59+00:00
Accession:  0001801170-25-000269
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801170/000180117025000269/0001801170-25-000269-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801170/000180117025000269/clov-20251104.htm
  HTML page:      https://secwatch.observer/filing/0001801170-25-000269

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