| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 749.19 | 62.0% |
| Total Income | 749.19 | 62.0% |
| Expenditure | 721.86 | 55.7% |
| PBT | — | |
| Net Profit | 27.33 | 2252.0% |
| OPM | 3.65% | 3.92pp |
| NPM | 3.65% | 3.92pp |
| EPS | 0.05 |
Clover Health Reports Q1 2026 GAAP Net Income of $27 Million
07 May 2026 · 7 May, 1:44 am
Summary
Clover Health Investments, Corp. reported financial results for the first quarter of 2026, achieving positive GAAP Net Income of $27 million, an improvement of $29 million year-over-year. Total revenues increased by 62% year-over-year to $749 million, driven by a 51% increase in Medicare Advantage membership. The company's Consolidated Gross Profit rose by 47% to $160 million, and Adjusted EBITDA increased by 56% to $40 million. Management expects to meet or exceed full year 2026 outlook across all metrics, including achieving first full year GAAP Net Income profitability.
Key Highlights
- 1
Clover Health delivered positive GAAP Net Income in the first quarter of 2026.
- 2
Medicare Advantage membership increased by 51% year-over-year.
- 3
Total revenues for the first quarter of 2026 were $749 million, up 62% year-over-year.
- 4
Consolidated Gross Profit for the first quarter of 2026 was $160 million, a 47% increase year-over-year.
- 5
Adjusted EBITDA for the first quarter of 2026 reached $40 million, up 56% year-over-year.
- 6
The company expects to meet or exceed full year 2026 outlook across all metrics, including achieving first full year GAAP Net Income profitability.
- 7
Average Medicare Advantage membership is projected to be between 154,000 and 158,000 for full year 2026, representing 46% growth year-over-year at the midpoint.
Management Comments
Andrew Toy
“Our results demonstrate the differentiated model we have built to drive growth and profitability while expanding access to high-quality, affordable care through a wide-network PPO. During the first quarter, we delivered strong performance across key metrics, driven by deeper clinical engagement, with Clover Assistant supporting earlier intervention and better outcomes for our members. As we continue to scale our technology to reach more members, we expect to achieve our first full year of GAAP Net Income profitability in 2026.”
Clay Thornton
“We achieved positive GAAP Net Income in the first quarter of 2026 while continuing to grow at a market-leading rate. Results are developing in line with our expectations, and we are encouraged by early medical cost trend indicators across both new and returning cohorts. We expect to meet or exceed our full year 2026 outlook across all metrics, including our expectation to deliver GAAP Net Income profitability.”
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