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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 16:12

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Clover Health achieved its first quarterly GAAP profit as a public company in Q2 2024, reporting net income of $7.2 million compared to a $28.9 million loss in Q2 2023. Insurance revenue grew 11% year-over-year to $349.9 million, driven by strong member retention. The company's Insurance MCR improved to 71.3% from 77.2% in the prior year quarter.Adjusted EBITDA increased significantly to $36.2 million from $9.9 million in Q2 2023, reflecting improved operational efficiency. The company's technology-centric approach through Clover Assistant continues to drive positive outcomes. Based on strong performance, Clover Health raised its full-year 2024 guidance, now expecting Insurance revenue of $1.35-1.375 billion and Adjusted EBITDA of $50-65 million.The company's recent Star Rating improvement to 3.5 Stars for the 2025 payment year, coupled with a healthy balance sheet position of $482.8 million in cash and investments, positions it well for continued growth and improved long-term profitability capacity.
Clover Health achieved its first quarterly GAAP profit as a public company in Q2 2024, reporting net income of $7.2 million compared to a $28.9 million loss in Q2 2023. Insurance revenue grew 11% year-over-year to $349.9 million, driven by strong member retention. The company's Insurance MCR improved to 71.3% from 77.2% in the prior year quarter.Adjusted EBITDA increased significantly to $36.2 million from $9.9 million in Q2 2023, reflecting improved operational efficiency. The company's technology-centric approach through Clover Assistant continues to drive positive outcomes. Based on strong performance, Clover Health raised its full-year 2024 guidance, now expecting Insurance revenue of $1.35-1.375 billion and Adjusted EBITDA of $50-65 million.The company's recent Star Rating improvement to 3.5 Stars for the 2025 payment year, coupled with a healthy balance sheet position of $482.8 million in cash and investments, positions it well for continued growth and improved long-term profitability capacity.
Clover Health在2024年第二季度实现了作为上市公司的首个季度GAAP利润，报告净利润为720万，相比于2023年第二季度的2890万亏损。保险营业收入同比增长11%，达34990万，得益于强劲的会员留存。公司的保险MCR从去年同期的77.2%改善至71.3%。经调整的EBITDA大幅增加至3620万，相比2023年第二季度的990万，反映了运营效率的提升。公司通过Clover Assistant采取的科技导向方法继续推动积极的成果。基于强劲的表现，Clover Health提高了其2024年的全年指导，现在预计保险营业收入为135-137.5亿和经调整EBITDA为5000-6500万。公司最近的科创板评级提高至2025年支付年度的3.5科创板，加上48280万的现金和投资的健康资产负债表位置，使它在持续增长和改善长期盈利能力方面处于良好位置。
Clover Health在2024年第二季度实现了作为上市公司的首个季度GAAP利润，报告净利润为720万，相比于2023年第二季度的2890万亏损。保险营业收入同比增长11%，达34990万，得益于强劲的会员留存。公司的保险MCR从去年同期的77.2%改善至71.3%。经调整的EBITDA大幅增加至3620万，相比2023年第二季度的990万，反映了运营效率的提升。公司通过Clover Assistant采取的科技导向方法继续推动积极的成果。基于强劲的表现，Clover Health提高了其2024年的全年指导，现在预计保险营业收入为135-137.5亿和经调整EBITDA为5000-6500万。公司最近的科创板评级提高至2025年支付年度的3.5科创板，加上48280万的现金和投资的健康资产负债表位置，使它在持续增长和改善长期盈利能力方面处于良好位置。
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