NASDAQ$CLOV
Clover Health Investments Corp. · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Clover Health reported FY2025 total revenue of $1.9B (+40%) with adjusted EBITDA of $22M.
Full-year total revenues were $1.9 billion (+40%) with Medicare Advantage membership of 113,803 (+38%). GAAP net loss was $86 million; adjusted EBITDA was $22 million and adjusted net income $20 million. 2026 guidance targets GAAP net income of $0–$20 million on revenue of $2.81B–$2.92B.
- FY revenue $1.9B (+40%).
- MA membership +38%.
- Adj. EBITDA $22M in FY25.
- 2026 guide: first GAAP net income year.
- Clover Assistant drives cohort economics.
Headline financials
Revenue & EPS history
Clover Health · Revenue · Quarterly
$1.9B
Revenue by segment
Clover Health · $301M total across 1 segment · Q3 2023
- Insurance Revenue$301M+12.4%100.0%
Forward guidance
FY26 revenue $2.81B–$2.92B; GAAP net income $0–$20M.
Tailwinds
- Adjusted EBITDA profitability while scaling membership.
- Improving medical cost trends.
Headwinds
- GAAP losses until 2026 guide midpoint.
- Medicare rate and risk adjustment sensitivity.
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 Q4 2025
-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
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