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Pharmaceutical industry First, Clover was profitable on an Adjusted EBITDA basis for the first quarter, and we have high confidence in achieving full year 2024 Adjusted EBITDA profitability.
Key Points:
- First, Clover was profitable on an Adjusted EBITDA basis for the first quarter, and we have high confidence in achieving full year 2024 Adjusted EBITDA profitability.
- For the first quarter 2024, total revenue was $346.9 million, with GAAP net loss from continuing operations improving to $23.2 million.
- Adjusted EBITDA improved to a profit of $6.8 million, as compared to the prior year period loss of $37.5 million.
- Insurance MCR also continued to significantly improve to 77.9% in the first quarter 2024, as compared to 86.6% in the first quarter 2023.
FRANKLIN, Tenn., April 23, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (“Clover,” “Clover Health” or the “Company”), today announced that it will report first quarter 2024 financial results after market close on Tuesday, May 7, 2024.
Key Points:
- FRANKLIN, Tenn., April 23, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (“Clover,” “Clover Health” or the “Company”), today announced that it will report first quarter 2024 financial results after market close on Tuesday, May 7, 2024.
- Management will host a conference call and webcast at 5:00 p.m. Eastern Time on May 7, 2024, to discuss the Company’s business and financial results.
- First Quarter 2024 Conference Call and Webcast Details:
Dial In: To access the call via telephone please dial 800-579-2543 (for U.S. callers) or 785-424-1789 (for callers outside the U.S.) and enter the conference ID: CLOVQ124
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Altera,
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Ernst & Young,
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Yahoo!,
Management FRANKLIN, Tenn., April 22, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (“Clover,” “Clover Health” or the “Company”), a physician enablement technology company, today announced the appointment of Peter Kuipers as Chief Financial Officer (“CFO”), effective as of the day after the filing of the Company’s Quarterly Report on Form 10-Q for the quarter-ended March 31, 2024.
Key Points:
- FRANKLIN, Tenn., April 22, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (“Clover,” “Clover Health” or the “Company”), a physician enablement technology company, today announced the appointment of Peter Kuipers as Chief Financial Officer (“CFO”), effective as of the day after the filing of the Company’s Quarterly Report on Form 10-Q for the quarter-ended March 31, 2024.
- With a wealth of experience and a proven track record in financial management, Mr. Kuipers will drive strategic financial initiatives around profitability, growth and potential new revenue streams.
- "We are thrilled to welcome Peter to Clover as our new Chief Financial Officer," said Andrew Toy, Chief Executive Officer, Clover Health.
- “I am honored to join Clover at such an exciting time in its journey,” said Peter Kuipers.
Tenn.); (2) In re: Clover Health Investments Corp.
Key Points:
- Tenn.); (2) In re: Clover Health Investments Corp.
- (collectively the "Shareholder Derivative Actions").
- The Shareholder Derivative Actions were filed in the wake of the Company's de-SPAC transaction.
- As previously disclosed, on February 5, 2024, the plaintiffs in the Shareholder Derivative Actions, on the one hand, and the Company, on the other hand, executed a Stipulation and Agreement of Settlement dated February 2, 2024 (the "Stipulation"), which, subject to final court approval, provides the defendants in the Shareholder Derivative Actions with customary releases and, as previously disclosed, will require the Company to implement a suite of corporate governance enhancements (the "Settlement").
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DSM-IV codes,
Social,
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Physician,
Practitioner,
Nursing FRANKLIN, Tenn., March 19, 2024 (GLOBE NEWSWIRE) -- Today, Clover Health (“Clover” or the “Company”) announced a partnership with Quartet Health, a value-based behavioral health care enablement and delivery company, to increase the support and resources provided to Clover members with serious mental illness (SMI) through the Company’s home-based care delivery unit, Clover Home Care.
Key Points:
- FRANKLIN, Tenn., March 19, 2024 (GLOBE NEWSWIRE) -- Today, Clover Health (“Clover” or the “Company”) announced a partnership with Quartet Health, a value-based behavioral health care enablement and delivery company, to increase the support and resources provided to Clover members with serious mental illness (SMI) through the Company’s home-based care delivery unit, Clover Home Care.
- As part of this partnership, Quartet will use its expert care teams to augment Clover Home Care’s capabilities.
- Quartet’s clinicians will also begin using the Clover Assistant platform to deliver care to the Clover patients under its care.
- As of January 1, Clover Home Care with Whole Health by Quartet Health is available to eligible members in New Jersey for no additional cost.
FRANKLIN, Tenn., March 12, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) ("Clover," "Clover Health" or the "Company"), a managed care company focused on physician enablement, today reported financial results for the fourth quarter and full year 2023. Management will host a conference call today at 5:00 p.m. ET to discuss its operating results and other business highlights.
Key Points:
- FRANKLIN, Tenn., March 12, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) ("Clover," "Clover Health" or the "Company"), a managed care company focused on physician enablement, today reported financial results for the fourth quarter and full year 2023.
- For the fourth quarter 2023, the Company reported revenue of $510.3 million and net loss of $70.5 million, with full-year revenue of $2,033.7 million and net loss of $213.4 million.
- Insurance revenue during the fourth quarter grew by 12% to $303.1 million, and grew by 14% to $1,235.8 million for full-year 2023.
- Insurance MCR also meaningfully improved to 82.4% in the fourth quarter and 81.2% for full-year 2023, as compared to 92.4% in the fourth quarter 2022 and 91.8% for full-year 2022.
FRANKLIN, Tenn., March 07, 2024 (GLOBE NEWSWIRE) -- Today Clover Health ("Clover" or "the Company") announced Clay Thornton as the newly appointed Chief Financial Officer of its Medicare Advantage (MA) division.
Key Points:
- FRANKLIN, Tenn., March 07, 2024 (GLOBE NEWSWIRE) -- Today Clover Health ("Clover" or "the Company") announced Clay Thornton as the newly appointed Chief Financial Officer of its Medicare Advantage (MA) division.
- Thornton's expertise in driving financial strategies that bolster quality outcomes, member and provider satisfaction, and sustainable business expansion makes him an ideal fit for Clover.
- "I am thrilled to join the team at Clover Health and drive forward their PPO-first approach in the Medicare Advantage space," said Thornton.
- His leadership will be instrumental in advancing our PPO-first approach, ensuring we continue to thrive in Medicare Advantage through our technology-driven, patient-centered care model."
Retrieved on:
Monday, February 26, 2024
FRANKLIN, Tenn., Feb. 26, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (“Clover,” “Clover Health” or the “Company”), today announced that it will report fourth quarter and full year 2023 financial results after market close on Tuesday, March 12, 2024.
Key Points:
- FRANKLIN, Tenn., Feb. 26, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (“Clover,” “Clover Health” or the “Company”), today announced that it will report fourth quarter and full year 2023 financial results after market close on Tuesday, March 12, 2024.
- Management will host a conference call and webcast at 5:00 p.m. Eastern Time on March 12, 2024 to discuss the Company’s business and financial results.
- Fourth Quarter and Full Year 2023 Conference Call and Webcast Details:
Dial In: To access the call via telephone please dial 800-579-2543 (for U.S. callers) or 785-424-1789 (for callers outside the U.S.) and enter the conference ID: CLOVQ423
Retrieved on:
Friday, February 16, 2024
FRANKLIN, Tenn., Feb. 16, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover” or the “Company”) announced today that effective February 16, 2024, the Talent and Compensation Committee of the Company’s Board of Directors granted a restricted stock unit award (the “RSUs”) to a newly hired employee.
Key Points:
- FRANKLIN, Tenn., Feb. 16, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover” or the “Company”) announced today that effective February 16, 2024, the Talent and Compensation Committee of the Company’s Board of Directors granted a restricted stock unit award (the “RSUs”) to a newly hired employee.
- The RSUs were granted under the Company’s 2022 Inducement Award Plan (the “Inducement Plan”) and otherwise will be subject to the terms and conditions of restricted stock unit award agreements under the Inducement Plan.
- The RSUs represent the employee’s right to receive 902,061 shares of the Company's Class A Common Stock, subject to such award’s applicable vesting schedule.
- The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Clover, or following a bona fide period of non-employment, as an inducement material to such individuals entering into employment with the Company, pursuant to Nasdaq Listing Rule 5635(c)(4).
Retrieved on:
Wednesday, January 10, 2024
FRANKLIN, Tenn., Jan. 10, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (“Clover,” “Clover Health” or the “Company”), a physician enablement company committed to bringing access to great healthcare to everyone on Medicare, announced today that it is targeting Adjusted EBITDA profitability for the full-year 2024.
Key Points:
- FRANKLIN, Tenn., Jan. 10, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (“Clover,” “Clover Health” or the “Company”), a physician enablement company committed to bringing access to great healthcare to everyone on Medicare, announced today that it is targeting Adjusted EBITDA profitability for the full-year 2024.
- (1)
“I believe that we are at a critical inflection point in the trajectory of our business.
- “We are targeting to achieve our goal to deliver profitability on an Adjusted EBITDA basis for full-year 2024.
- However, this business update, and our strengthened conviction in targeting Adjusted EBITDA profitability this year, highlights the anticipated favorable impact of our ongoing strategy to deliver a sustainable, profitable Clover Health to our stakeholders.”
Adjusted EBITDA is a non-GAAP financial measure.
