NASDAQ$CLOV
Clover Health Investments Corp. · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported revenue of $527.8 million and a net loss of $72.6 million.
Clover Health reported strong Q1 2023 results with insurance revenue growth of 14% year-over-year and significant improvements in both Insurance and Non-Insurance MCR. The company also improved its full year 2023 guidance for the Insurance segment and consolidated Clover Health.
- Insurance revenue grew by 14% over Q1'22.
- Insurance MCR improved to 86.6% from 96.4% year-over-year.
- Non-Insurance MCR improved to 96.1% from 99.8% year-over-year.
- Adjusted EBITDA improved by $40.4 million to $(30.5) million compared to Q1 2022.
Headline financials
Revenue & EPS history
Clover Health · Revenue · Quarterly
$528M
Revenue by segment
Clover Health · $301M total across 1 segment · Q3 2023
- Insurance Revenue$301M+12.4%100.0%
Forward guidance
Clover Health provided full-year 2023 guidance, including insurance revenue between $1.18 billion and $1.23 billion, insurance MCR between 87% and 89%, non-insurance revenue between $0.75 billion and $0.80 billion, non-insurance MCR between 98% and 100%, adjusted SG&A between $315 million and $325 million, and adjusted EBITDA between ($125 million) and ($175 million).
Tailwinds
- Insurance revenue is expected to be in the range of $1.18 billion to $1.23 billion in 2023, a growth rate of 9% - 13% as compared to full year 2022 Insurance revenue.
- Insurance MCR is expected to be in the range of 87% - 89% in 2023.
- Non-Insurance revenue is expected to be in the range of $0.75 billion to $0.80 billion in 2023.
- Non-Insurance MCR is expected to be in the range of 98% - 100% in 2023.
- Adjusted SG&A (non-GAAP) is expected to be between $315 million and $325 million.
Headwinds
- Adjusted EBITDA (non-GAAP) is expected to be between ($125 million) and ($175 million).
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 2023
-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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