Financial Data and Key Metrics Changes - The Insurance MCR improved to 92.4% in Q4 2022 from 102.8% in Q4 2021, with a full year 2022 MCR of 91.8%, significantly better than 106% in 2021 [7][24][19] - Non-Insurance revenue grew 172% to $623 million in Q4 2022 and 256% to $2.38 billion for the full year 2022 [8][9] - Adjusted EBITDA for the year was approximately negative $298 million, an improvement from a loss of $344 million in the prior year [9][25] - The company expects 2023 insurance revenue to grow to between $1.15 billion and $1.2 billion, targeting an Insurance MCR of 89% to 91% [10][4] Business Line Data and Key Metrics Changes - Insurance revenue grew 34% to $270 million in Q4 2022 and 36% to $1.085 billion for the full year 2022, driven primarily by member growth [24][19] - Non-Insurance MCR improved to 103.4% for the full year 2022 from 105.7% in 2021, with a focus on reducing the number of participating physicians for 2023 [21][24] Market Data and Key Metrics Changes - Clover Home Care serviced over 3,300 members in 2022, contributing to higher member retention and satisfaction [6] - The company plans to increase its in-home practice panel to approximately 4,000 members in 2023, aiming to manage over $150 million in MA plan medical expenses [22] Company Strategy and Development Direction - The company emphasizes profitability over growth, expecting this strategic shift to position it for success in 2023 [4] - Clover Assistant is highlighted as a key differentiator, enabling early identification and management of chronic diseases, which aligns with CMS's proposed adjustments to Medicare Advantage [28][40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the favorable performance trends and the impact of Clover Assistant on business operations [19][20] - The company anticipates a pivotal year in 2023, focusing on delivering shareholder value and achieving positive cash flows [39][40] Other Important Information - The company ended 2022 with $555 million in cash and investments, indicating a healthy liquidity profile [26] - Management noted that the overall SG&A expenses are expected to remain flat despite a significant revenue decline, with elevated SG&A typically seen in Q1 and Q4 due to broker commissions and marketing costs [15][43] Q&A Session Summary Question: Membership growth for 2023 and its impact on revenue guidance - Management indicated that membership on the insurance side is expected to be in line with the beginning of 2022, with approximately 55,000 aligned beneficiaries for the Non-Insurance side [41][42] Question: Drivers behind SG&A expenses despite revenue decline - Management explained that SG&A infrastructure is not significantly variable and remains flat due to the nature of the business [43] Question: Cash burn relative to EBITDA - Management stated that cash burn largely approximates EBITDA performance, with expectations for cash effects from the Non-Insurance line to manifest in Q3 2023 [46] Question: Impact of CMS coding changes on the business - Management believes that Clover Assistant's focus on diagnosis and care management will mitigate the impact of CMS changes compared to other plans [48][49]

These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in the risk factors set forth in Clover Health's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC"), including the Risk Factors section therein, and in our other filings with the SEC. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation may not occur and actu ...

Health These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in the risk factors set forth in Clover's latest Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 28, 2022, including the Risk Factors section therein, and in our other filings with the SEC. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation may no ...

Clover Health Investments, Corp. (NASDAQ:CLOV) Q3 2022 Earnings Conference Call November 7, 2022 5:00 PM ET Company Participants Ryan Schmidt - Investor Relations Vivek Garipalli - Chief Executive Officer Andrew Toy - President Scott Leffler - Chief Financial Officer Conference Call Participants Jason Cassorla - Citi Richard Close - Canaccord Genuity Kevin Fischbeck - Bank of America Whit Mayo - SVB Securities. Operator Please stand-by, your program is about to begin. Ladies and gentlemen, good afternoon, a ...

Clover Health Third Quarter 2022 - Earnings Results Clover Health Disclaimer This presentation and the accompanying oral presentations include forward-looking statements, including statements regarding future events and Clover Health Investments, Corp.'s ("Clover," "we," "our," or "us") future results of operations, financial position, market size and opportunity, business strategy and plans, and the factors affecting our performance and our objectives for future operations. These forward-looking statements ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________ FORM 10-Q ________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 1 For the quarterly period ended September 30, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-39252 _________________ ...

Clover Health Investments Corp (NASDAQ:CLOV) Q2 2022 Earnings Conference Call August 8, 2022 5:00 PM ET Company Participants Ryan Schmidt - IR Vivek Garipalli - Co-Founder, CEO & Chairman Andrew Toy - Co-Founder, President, & Director Mark Herbers - Principal Accounting Officer Conference Call Participants Richard Close - Canaccord Genuity Kevin Fischbeck - Bank of America Merrill Lynch Jason Cassorla - Citigroup Benjamin Mayo - SVB Securities Gary Taylor - Cowen and Company Operator Ladies and gentlemen, g ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________ ________________________________________ FORM 10-Q ________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ | --- | --- | |-- ...

Clover Health Investments, Corp. (NASDAQ:CLOV) Q1 2022 Results Conference Call May 9, 2022 5:00 PM ET Company Participants Derrick Nueman - Head or Investor Relations and Corporate Strategy Vivek Garipalli - CEO Andrew Toy - President Mark Herbers - Interim CFO Conference Call Participants Richard Close - Canaccord Genuity Jason Cassorla - Citi Whit Mayo - SVB Securities Kevin Fischbeck - Bank of America Operator Ladies and gentlemen, good day and welcome to the Clover Health First Quarter 2022 Earnings Con ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________ ________________________________________ FORM 10-Q ________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ | --- | --- | |- ...