Clover Health Investments Corp. (CLOV), a physician-enabling technology company, on Wednesday reported first quarter financial results, and provided an outlook for 2026.
Q1 2026:
Clover recorded net revenues of $749.2 million in Q1 2026, 62.1% higher than the $462.3 million reported a year ago.
The company showed a positive generally accepted accounting practices (GAAP) net income at $27 million, an improvement of $29 million from the prior year.
Net losses were $27.3 million, while in Q1 2025, losses were $1.3 million.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $40.3 million in the first quarter, 56.2% higher than the EBITDA of $25.8 million in the previous year.
Consolidated gross profits were at $160 million.
Cash, cash equivalents, and marketable securities held by the company on March 31, 2026, amounted to $418.2 million.
The average Medicare advantage membership saw a growth of 51% from 101,959 in Q1 2025, to 155,773 in Q1 2026.
2026 Outlook:
The company reiterated its outlook for 2026, setting a revenue growth of 49%, to reach $2.81 billion - $2.92 billion, considerably higher than the full-year revenue of $1.92 billion in 2025.
GAAP net income is set at $0-$20 million.
Adjusted EBITDA is estimated to reach $50 million to $70 million, compared to $21.7 million in 2025.
Consolidated gross profits are forecast at $470 million to $510 million, compared to $355.9 million in 2025.
Average Medicare advantage membership is expected to grow by 46% to reach 154,000- 158,000.
CLOV is trading at $2.85, up 6.54%.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.