Clover Health Reports 34.1% Revenue Growth but Net Loss in Latest Quarter

Clover Health Investments, Corp. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company achieved total revenues of $477.6 million, a 34.1% increase from $356.3 million in the same period last year. This growth was primarily driven by a 34% rise in net premiums earned, which reached $469.8 million, up from $349.9 million. However, Clover Health also reported a net loss of $10.6 million for the quarter, compared to a net income of $7.4 million in the prior year, reflecting increased operating expenses and medical claims.

In terms of operational metrics, Clover Health's membership grew to 106,323 members, a 32% increase from 80,261 members a year earlier. This growth in membership contributed to a substantial rise in medical claims incurred, which increased by 52.2% to $378 million. The company attributed this rise to both the increase in membership and higher costs associated with Part D due to recent legislative changes. Salaries and benefits also rose by 10.5% to $61.3 million, driven by an increase in headcount to support the growing membership base.

Strategically, Clover Health has been focusing on expanding its technology offerings. The company launched Counterpart Health, Inc., a new subsidiary aimed at providing its Clover Assistant technology to external Medicare Advantage payors and providers. This initiative is expected to enhance patient outcomes and reduce healthcare costs, thereby creating new growth opportunities for the company. Additionally, Clover Health has been restructuring its operations, including a workforce reduction of approximately 10% to align its cost structure with revenue.

Clover Health's financial position remains stable, with total assets of $575 million as of June 30, 2025, slightly down from $580.7 million at the end of 2024. The company reported cash and cash equivalents of $188.6 million, down from $194.5 million at the end of the previous year. The decrease in cash was primarily due to cash used in operating activities, which amounted to $10.9 million for the first half of 2025. Looking ahead, Clover Health anticipates that its cash, cash equivalents, and projected cash flows will be sufficient to meet its operational and regulatory requirements for the next 12 months, although it may seek additional financing to support growth initiatives.