| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 743.17 | 0.8% | 55.6% |
| Total Income | 743.17 | 0.8% | 55.6% |
| Expenditure | 715.17 | 0.9% | 46.5% |
| PBT | — | ||
| Net Profit | 28.00 | 2.5% | 364.6% |
| OPM | 3.77% | 0.12pp | 5.98pp |
| NPM | 3.77% | 0.12pp | 5.98pp |
| EPS | 0.05 | 0.0% |
Clover Health Reports Q2 2026 Results with Improved Guidance and Membership Growth
06 Aug 2026 · 6 Aug, 1:46 am
Summary
Clover Health reported strong second quarter 2026 results, highlighted by a GAAP Net Income of $28 million, a significant improvement from the prior year. The company saw substantial year-over-year growth in both Medicare Advantage membership, up 48% to 157,309, and total revenues, which increased by 56% to $743 million. Management has raised its full-year 2026 guidance across all metrics, reflecting increased confidence in the company's trajectory and future outlook for 2027.
Key Highlights
- 1
Clover Health reported a second quarter 2026 GAAP Net Income of $28 million, an improvement of $39 million year-over-year.
- 2
Medicare Advantage membership reached 157,309 in Q2 2026, an increase of 48% year-over-year.
- 3
Total revenues for the second quarter of 2026 were $743 million, up 56% year-over-year.
- 4
Consolidated Gross Profit for Q2 2026 was $153 million, a 54% increase year-over-year.
- 5
Adjusted EBITDA for the second quarter of 2026 was $41 million, up 139% year-over-year.
- 6
The company improved its Full Year 2026 guidance across all key metrics, including revenue and Adjusted EBITDA.
- 7
Management expressed increasing confidence for the 2027 outlook, supported by strong cohort development and clinical engagement.
Management Comments
Andrew Toy
Our results demonstrate that a wide-network, full-risk Medicare Advantage model can deliver better health outcomes, meaningful growth, and increasing profitability at the same time. We are continuing to bring our AI-powered Clover Assistant platform to more physicians and more members, empowering earlier intervention, more personalized care, and better health outcomes. We believe this differentiated approach is the foundation for our long-term earnings potential.
Clay Thornton
The underlying performance of our Medicare Advantage business continued to strengthen through the first half of the year, with cohort economics improving year-over-year as expected, giving us the confidence to raise our full-year 2026 outlook. As more members mature under our technology-powered care model, we expect improving clinical outcomes to translate into stronger economics over time. Because we operate at full risk, we retain those economics, which we believe allows us to enter 2027 from a position of strength.
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