NASDAQ$CLOV
Clover Health Investments Corp. · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Clover Health reported strong revenue growth and margin improvements.
Clover Health's Q1 2022 results showed significant year-over-year revenue growth, driven by increases in both Insurance and Non-Insurance segments. The company is focused on balancing growth with MCR reduction and operational efficiencies to drive towards profitability. Total revenue was $874.4 million, compared to $200.3 million in Q1 2021. Lives under Clover Management grew to approximately 257,000 from approximately 66,000 year-over-year.
- Total revenue reached $874.4 million, a substantial increase from $200.3 million in the first quarter of 2021.
- Lives under Clover Management grew to approximately 257,000, up from approximately 66,000 year-over-year.
- Insurance (Medicare Advantage) Medical Care Ratio (MCR) was 96.4%, showing significant improvement.
- Non-Insurance (Direct Contracting) MCR was 99.8%, also indicating quarter-over-quarter improvement.
Headline financials
Revenue & EPS history
Clover Health · Revenue · Quarterly
$874M
Revenue by segment
Clover Health · $278M total across 1 segment · Q1 2022
- Insurance Revenue$278M—100.0%
Forward guidance
Clover Health reaffirms its full-year 2022 guidance, expecting total revenues between $3.0 billion and $3.4 billion and an Insurance MCR between 95% and 99%.
Tailwinds
- Total revenues are expected to be in the range of $3.0 billion to $3.4 billion.
- Insurance revenue is projected to be $1.0 billion to $1.1 billion.
- Non-Insurance revenue is projected to be $2.0 billion to $2.3 billion.
- Insurance membership is expected to average 84,000 - 85,000, a growth rate of 26% - 27% as compared to the 2021 average.
- Insurance MCR is expected to be in the range of 95% - 99%.
Headwinds
- Significant developments related to COVID-19 and/or historical utilization trends could impact expectations.
- Stock-based compensation expense cannot be reasonably calculated or predicted at this time without unreasonable efforts.
- Challenges in expanding member and beneficiary base or into new markets.
- Exposure to unfavorable changes in local benefit costs, reimbursement rates, competition and economic conditions.
- The current and future impact of the COVID-19 pandemic and its variants on Clover Health’s business and industry.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-0.1%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+5.7%
Avg return
30 days after
46%
11 / 24 earnings
Positive
+20.9%
Q1 2024
Best reaction
-15.4%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +11.0% | +26.3% | +36.3% | |
| Q4 2025 | -3.2% | +0.5% | -18.6% | |
| Q3 2025 | -15.4% | -26.1% | -26.7% | |
| Q1 2025 | +11.9% | +3.6% | -8.8% | |
| Q4 2024 | -4.1% | -7.5% | -13.3% | |
| Q3 2024 | -15.0% | -22.9% | -22.2% | |
| Q2 2024 | +9.6% | +11.4% | +71.6% | |
| Q1 2024 | +20.9% | +13.9% | +52.8% | |
| Q4 2023 | +2.2% | +1.1% | -9.8% | |
| Q3 2023 | -15.2% | -17.2% | -13.0% | |
| Q2 2023 | +10.3% | +19.0% | +4.0% | |
| Q1 2023 | +4.7% | +11.2% | +10.1% | |
| Q4 2022 | -2.2% | -5.2% | -28.3% | |
| Q3 2022 | -5.8% | +11.7% | -13.1% | |
| Q2 2022 | -14.4% | +1.2% | -23.6% | |
| Q1 2022 | -11.9% | -3.0% | -5.2% | |
| Q4 2021 | +20.1% | +33.3% | +72.5% | |
| Q3 2021 | -4.3% | -9.0% | -40.9% | |
| Q2 2021 | +7.1% | +1.0% | +2.1% | |
| Q1 2021 | -6.7% | -7.2% | +73.4% | |
| Q2 2020 | +2.6% | +4.3% | +37.0% | |
| Q4 2020 | -3.8% | -16.6% | -19.6% | |
| Q3 2020 | +0.3% | +0.7% | +9.1% | |
| Q4 2019 | -0.1% | -0.2% | +10.2% | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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