NASDAQ$CLOV
Clover Health Investments Corp. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Clover Health reported strong financial results for the first quarter of 2024, with improved guidance targeting full-year Adjusted EBITDA profitability.
Clover Health reported a strong start to 2024, exceeding expectations with total revenue of $346.9 million and a GAAP net loss from continuing operations of $23.2 million. The company achieved Adjusted EBITDA profitability of $6.8 million, and insurance revenue grew by 8% year-over-year to $341.7 million. Improved full-year 2024 guidance was issued, and a share repurchase program of up to $20 million was authorized.
- Clover Health achieved Adjusted EBITDA profitability for the first quarter of 2024.
- Insurance revenue grew by 8% year-over-year.
- GAAP net loss from continuing operations improved to $23.2 million.
- The company improved its full-year 2024 guidance, targeting Adjusted EBITDA profitability.
Headline financials
Revenue & EPS history
Clover Health · Revenue · Quarterly
$347M
Revenue by segment
Clover Health · $301M total across 1 segment · Q3 2023
- Insurance Revenue$301M+12.4%100.0%
Forward guidance
Clover Health is updating its full-year 2024 guidance to reflect expectations of higher insurance revenue and Adjusted EBITDA profitability.
Tailwinds
- Insurance revenue is expected to be between $1.30 billion and $1.35 billion.
- Insurance MCR is projected to be between 79% and 81%.
- Adjusted SG&A is anticipated to be between $270 million and $280 million.
- Adjusted EBITDA is expected to be between $10 million and $30 million.
- The company maintains a strong liquidity position and believes it has sufficient capital for operating and growth needs.
Headwinds
- Stock-based compensation expense cannot be reasonably calculated or predicted at this time.
- Guidance is subject to known and unknown risks and uncertainties.
- The forward-looking statements are made as of the date of the press release, and the company undertakes no obligation to update them.
- The achievement of Adjusted EBITDA profitability is based on current targets which are preliminary.
- General economic conditions and geopolitical uncertainty could impact results.
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 2024
-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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro