Clover Health Investments (CLOV) Q1 Revenue Tops Consensus

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Go back to Clover Health Investments (CLOV) Q1 Revenue Tops Consensus

Clover Health Reports First Quarter 2022 Financial Results

May 9, 2022 4:05 PM EDT

First quarter total revenue was $874.4 million, compared to $200.3 million in first quarter 2021

Lives under Clover Management grew to ~257,000 from ~66,000 year-over-year

First quarter Insurance (Medicare Advantage) Medical Care Ratio (MCR) of 96.4% and Non-Insurance (Direct Contracting) MCR of 99.8% show significant improvement quarter-over-quarter

Full-year 2022 revenue expected to be $3.0 billion to $3.4 billion

Clover continues to expect 2022 Insurance MCR of 95% to 99% and a further step-wise improvement beyond

FRANKLIN, Tenn., May 09, 2022 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq:... More