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Clover Health | 8-K: Clover Health Reports Second Quarter 2024 Financial Results; Improves Full-Year Guidance on Strong Performance

Clover Health | 8-K: Clover Health Reports Second Quarter 2024 Financial Results; Improves Full-Year Guidance on Strong Performance

Clover Health | 8-K:三叶草健康公布2024年第二季度财务业绩;改善了全年强劲业绩指引
美股SEC公告 ·  2024/08/05 15:12

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Clover Health reported strong Q2 2024 results, with total revenue growing 11% YoY to $356.3M. The company achieved its first quarter of GAAP net income as a public company, reporting $7.2M compared to a $28.9M loss in Q2 2023. Adjusted EBITDA improved to $36.2M from $9.9M YoY.Insurance revenue rose 11% YoY to $349.9M, driven by strong member retention and growth. Insurance MCR improved to 71.3% from 77.2% YoY. The company's balance sheet strengthened, with $482.8M in cash and investments as of June 30, 2024.Based on strong performance, Clover Health raised its full-year 2024 guidance. It now expects Insurance revenue of $1.35B-$1.375B and Adjusted EBITDA of $50M-$65M. The company's recent Star Rating increase to 3.5 for the 2025 payment year is expected to improve long-term profitability.
Clover Health reported strong Q2 2024 results, with total revenue growing 11% YoY to $356.3M. The company achieved its first quarter of GAAP net income as a public company, reporting $7.2M compared to a $28.9M loss in Q2 2023. Adjusted EBITDA improved to $36.2M from $9.9M YoY.Insurance revenue rose 11% YoY to $349.9M, driven by strong member retention and growth. Insurance MCR improved to 71.3% from 77.2% YoY. The company's balance sheet strengthened, with $482.8M in cash and investments as of June 30, 2024.Based on strong performance, Clover Health raised its full-year 2024 guidance. It now expects Insurance revenue of $1.35B-$1.375B and Adjusted EBITDA of $50M-$65M. The company's recent Star Rating increase to 3.5 for the 2025 payment year is expected to improve long-term profitability.
Clover Health报告了强劲的2024年第二季度业绩,总营业收入同比增长11%,达到35630万。公司作为上市公司首次实现GAAP净利润,报告净利润为720万,而2023年第二季度则亏损2890万。调整后的EBITDA同比改善至3620万,从990万提高。保险营业收入同比增长11%,达到34990万,得益于强劲的会员保留和增长。保险MCR同比改善至71.3%,而去年为77.2%。截至2024年6月30日,公司的资产负债表得到了加强,现金和投资总额为48280万。基于强劲的表现,Clover Health上调了2024年全年的指引。现在预计保险营业收入为13.5亿到13.75亿,调整后的EBITDA为5000万到6500万。该公司最近的科创板评级在2025年支付年度提升至3.5,预计将改善长期盈利能力。
Clover Health报告了强劲的2024年第二季度业绩,总营业收入同比增长11%,达到35630万。公司作为上市公司首次实现GAAP净利润,报告净利润为720万,而2023年第二季度则亏损2890万。调整后的EBITDA同比改善至3620万,从990万提高。保险营业收入同比增长11%,达到34990万,得益于强劲的会员保留和增长。保险MCR同比改善至71.3%,而去年为77.2%。截至2024年6月30日,公司的资产负债表得到了加强,现金和投资总额为48280万。基于强劲的表现,Clover Health上调了2024年全年的指引。现在预计保险营业收入为13.5亿到13.75亿,调整后的EBITDA为5000万到6500万。该公司最近的科创板评级在2025年支付年度提升至3.5,预计将改善长期盈利能力。
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