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GlobeNewsWire
24 days ago
Clover Health Reports Third Quarter 2025 Results
Business Highlights: Generates third quarter year-to-date positive Adjusted EBITDA profitability, on a wide network, while growing membership by 35% and revenue by 39% year-over-year, despite a greater proportion of new members relative to returning member base High coverage of Clover Assistant, including within new cohorts, will result in improved total cost of care Strong retention, above-market growth, and profitable returning member cohorts position Clover for improved positive FY26 Financial Results Financial Results: Third quarter 2025 Medicare Advantage membership of 109,226, up 35% year-over-year Third quarter 2025 Total revenues of $497 million, up 50% year-over-year Third quarter 2025 profitability metrics include GAAP Net loss of $24 million, Adjusted EBITDA of $2 million, and Adjusted Net income of $2 million Third quarter year-to-date GAAP Net loss of $36 million , Adjusted EBITDA of $45 million , and Adjusted Net Income of $44 million Revised Full Year 2025 Guidance: Increases Average Medicare Advantage membership to 106,000 - 108,000, representing 33% growth year-over-year at the midpoint Increases Insurance revenue to between $1.850 billion and $1.880 billion, representing 39% growth year-over-year at the midpoint Improves Adjusted SG&A to between $325 million and $335 million, representing Adjusted SG&A as a percentage of Total revenues between 17% - 18% Expects Adjusted EBITDA profitability between $15 million and $30 million Expects Adjusted Net income between $15 million and $30 million Expects Insurance BER between 90% - 91% Directional Full Year 2026 Outlook: Company intends to maintain strong, sustainable growth, similar to 2025 Strong start to AEP with high applications in core markets. High expected retention Expect strong returning member cohort economics, 4.0 Star payment year, favorable CMS rate update, Increased Part D direct subsidy will enable increasing Adjusted EBITDA profitability WILMINGTON, Del.
