Quarterly ResultMay 6, 2026, 04:07 PM
Clover Health Q1 GAAP Net Income $27M; Raises 2026 Outlook
AI Summary
Clover Health Investments, Corp. reported strong financial results for the first quarter of 2026, achieving positive GAAP Net Income of $27 million, a significant improvement from a loss in the prior year. The company saw substantial growth across key metrics, including a 62% increase in total revenues to $749 million and a 51% rise in Medicare Advantage membership. Management expects to meet or exceed its full-year 2026 outlook, including achieving its first full year of GAAP Net Income profitability.
Key Highlights
- Clover Health reported Q1 2026 GAAP Net Income of $27 million, a $29 million improvement year-over-year.
- Total revenues for Q1 2026 increased 62% year-over-year to $749 million.
- Medicare Advantage membership grew 51% year-over-year to 155,773 in Q1 2026.
- Consolidated Gross Profit for Q1 2026 was $160 million, up 47% year-over-year.
- Adjusted EBITDA for Q1 2026 reached $40 million, a 56% increase year-over-year.
- Full year 2026 GAAP Net Income is guided between $0 million and $20 million.
- Full year 2026 Total revenues are projected between $2.81 billion and $2.92 billion.
- Full year 2026 Average Medicare Advantage membership is guided between 154,000 and 158,000.