Clover Health Investments | 8-K: FY2026 Q2 Revenue: USD 743.17 M

Revenue: As of FY2026 Q2, the actual value is USD 743.17 M.

EPS: As of FY2026 Q2, the actual value is USD 0.05.

EBIT: As of FY2026 Q2, the actual value is USD 28 M.

Second Quarter 2026 Financial Highlights

Clover Health Investments, Corp. reported a GAAP Net Income of $28 million for the second quarter of 2026, a significant improvement from a net loss of - $10.6 million in the prior year period. Consolidated Gross Profit for the quarter was $153 million, marking a 53.6% increase year-over-year from $99.6 million. Adjusted EBITDA increased by 139.2% to $40.9 million, compared to $17.1 million in the second quarter of 2025. Adjusted Net income also saw a substantial rise, reaching $40.4 million, up 141.9% from $16.7 million year-over-year.

Operational Metrics (Second Quarter 2026)

Average Medicare Advantage membership grew by 48.7% year-over-year to 156,840 in the second quarter of 2026, up from 105,494. Total Medicare Advantage membership at June 30, 2026, was 157,309, compared to 106,323 at June 30, 2025.

Revenue and Costs (Second Quarter 2026)

Total revenues for the second quarter of 2026 were $743.2 million, an increase of 55.6% from $477.6 million in the same period last year. Insurance revenue specifically grew by 57.0% to $737.8 million from $469.8 million. Insurance net medical claims incurred increased by 56.1% to $615.4 million from $394.2 million. The Insurance Benefits Expense Ratio (BER) improved by 80 basis points, decreasing to 87.6% from 88.4% year-over-year. Salaries and benefits plus General and administrative expenses (SG&A) increased by 13.3% to $124.4 million from $109.8 million. Adjusted SG&A rose by 35.9% to $112.1 million from $82.5 million. As a percentage of Total revenues, Adjusted SG&A decreased by 220 basis points to 15.1% from 17.3%.

Cash and Investments (As of June 30, 2026)

Total cash, cash equivalents, and investments stood at $443.0 million as of June 30, 2026, an increase of 13.8% from $389.3 million as of June 30, 2025.

Six Months Ended June 30, 2026 Financial Highlights

For the six months ended June 30, 2026, Clover Health Investments, Corp. reported a GAAP Net Income of $55.3 million, compared to a net loss of - $11.9 million in the prior year period. Total revenues increased by 58.8% to $1,492.4 million from $939.9 million. Consolidated Gross Profit rose by 49.9% to $312.5 million from $208.5 million. Adjusted EBITDA increased by 89.3% to $81.2 million from $42.9 million. Adjusted Net income was $80.1 million, an increase of 90.7% from $42.0 million.

Cash Flow (Six Months Ended June 30, 2026)

Net cash provided by operating activities was $133.1 million for the six months ended June 30, 2026, a significant turnaround from net cash used in operating activities of - $10.9 million in the prior year period. Net cash used in investing activities was - $5.1 million, compared to net cash provided by investing activities of $44.5 million. Net cash used in financing activities was - $7.4 million, an improvement from - $39.5 million.

Full Year 2026 Guidance

Clover Health Investments, Corp. improved its full-year 2026 guidance across all metrics. The company now expects average Medicare Advantage membership to be between 156,000 and 158,000, representing 47% growth year-over-year at the midpoint, and projects total revenues between $2.92 billion and $3.00 billion, indicating 54% growth year-over-year at the midpoint. Consolidated Gross Profit is anticipated to range from $525 million to $555 million, representing 52% growth year-over-year at the midpoint, with Adjusted EBITDA expected to be profitable between $70 million and $85 million, and GAAP Net Income forecasted to be between $20 million and $35 million. The company also expressed increasing confidence for its 2027 outlook, supported by strong cohort development, continued clinical engagement, and the added flexibility of a 4.5 Star payment year.