NASDAQ$CLOV
Clover Health Investments Corp. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported strong financial results and highlighted differentiated market opportunity to grow membership.
Clover Health reported strong third quarter 2024 financial results, with significant improvements in GAAP Net Loss and Adjusted EBITDA. The company delivered 9% total revenue growth year-to-date compared to the prior year period. Increased full-year 2024 guidance midpoint to target updated range of Adjusted EBITDA profitability of $55 million - $65 million.
- GAAP Net loss from continuing operations improved to $8.8 million from $33.6 million in the third quarter of 2023.
- Adjusted EBITDA increased to $19.3 million from $2.7 million in the third quarter of 2023.
- Insurance revenue grew by 7% year-over-year to $322.6 million.
- Insurance BER in 2024 improved to 82.8%.
Headline financials
Revenue & EPS history
Clover Health · Revenue · Quarterly
$331M
Revenue by segment
Clover Health · $301M total across 1 segment · Q3 2023
- Insurance Revenue$301M+12.4%100.0%
Forward guidance
For full-year 2024, Clover Health is updating its guidance as follows: Adjusted EBITDA is expected to be in the range of $55 million - $65 million.
Tailwinds
- Insurance revenue: $1.35 billion - $1.375 billion
- Insurance MCR: 76% - 77%
- Insurance BER: 81% - 82%
- Adjusted SG&A: $290 million - $295 million
- Adjusted EBITDA: $55 million - $65 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 Q3 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 | — | — | — |
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