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Clover Health | 8-K: Clover Health Reports Strong Third Quarter 2024 Financial Results; Highlights Differentiated Market Opportunity to Grow Membership

Clover Health | 8-K: Clover Health Reports Strong Third Quarter 2024 Financial Results; Highlights Differentiated Market Opportunity to Grow Membership

Clover Health | 8-K:三叶草健康公布了强劲的2024年第三季度财务业绩;强调了增加会员人数的差异化市场机会
美股SEC公告 ·  2024/11/07 05:12

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Clover Health delivered robust Q3 2024 financial results, with insurance revenue growing 7% YoY to $322.6 million and total revenue increasing 8.2% to $331 million. The company significantly improved its GAAP net loss from continuing operations to $8.8 million from $33.6 million in Q3 2023, while Adjusted EBITDA rose to $19.3 million from $2.7 million.The company demonstrated strong operational efficiency with Insurance BER improving to 82.8% in Q3 from 83.3% year-over-year. Year-to-date performance showed substantial improvement, with GAAP net loss from continuing operations reduced by $117.4 million and Adjusted EBITDA increased by $87.2 million compared to 2023.Based on the strong performance, Clover Health raised its full-year 2024 Adjusted EBITDA guidance to $55-65 million. The company's flagship PPO plan achieved a 4.0 Stars rating for payment year 2026, validating its care platform and positioning it for membership growth in both Insurance plans and Counterpart offering.
Clover Health delivered robust Q3 2024 financial results, with insurance revenue growing 7% YoY to $322.6 million and total revenue increasing 8.2% to $331 million. The company significantly improved its GAAP net loss from continuing operations to $8.8 million from $33.6 million in Q3 2023, while Adjusted EBITDA rose to $19.3 million from $2.7 million.The company demonstrated strong operational efficiency with Insurance BER improving to 82.8% in Q3 from 83.3% year-over-year. Year-to-date performance showed substantial improvement, with GAAP net loss from continuing operations reduced by $117.4 million and Adjusted EBITDA increased by $87.2 million compared to 2023.Based on the strong performance, Clover Health raised its full-year 2024 Adjusted EBITDA guidance to $55-65 million. The company's flagship PPO plan achieved a 4.0 Stars rating for payment year 2026, validating its care platform and positioning it for membership growth in both Insurance plans and Counterpart offering.
Clover Health公布了2024年第三季度强劲的财务业绩,保险营业收入同比增长7%,达到32260万,整体营业收入增长8.2%,达到33100万。该公司显著改善了持续运营的GAAP净亏损,从2023年第三季度的3360万减少至880万,同时调整后的息税折旧摊销前利润(EBITDA)从270万上升至1930万。该公司展现了强劲的运营效率,第三季度保险损失率(Insurance BER)从83.3%改善至82.8%。截至目前的表现显示出显著改善,与2023年相比,持续运营的GAAP净亏损减少了11740万,调整后的EBITDA增加了8720万。基于强劲的表现,Clover Health将2024年全年调整后的EBITDA指引提高至5500-6500万。该公司的旗舰PPO计划在2026年的支付年度获得了4.0星评级,验证了其护理平台,并为保险计划和对应产品的会员增长奠定了基础。
Clover Health公布了2024年第三季度强劲的财务业绩,保险营业收入同比增长7%,达到32260万,整体营业收入增长8.2%,达到33100万。该公司显著改善了持续运营的GAAP净亏损,从2023年第三季度的3360万减少至880万,同时调整后的息税折旧摊销前利润(EBITDA)从270万上升至1930万。该公司展现了强劲的运营效率,第三季度保险损失率(Insurance BER)从83.3%改善至82.8%。截至目前的表现显示出显著改善,与2023年相比,持续运营的GAAP净亏损减少了11740万,调整后的EBITDA增加了8720万。基于强劲的表现,Clover Health将2024年全年调整后的EBITDA指引提高至5500-6500万。该公司的旗舰PPO计划在2026年的支付年度获得了4.0星评级,验证了其护理平台,并为保险计划和对应产品的会员增长奠定了基础。
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