Clover Health Investments(US:CLOV) Globenewswireยท2025-08-05 20:05Core Insights - Clover Health Investments, Corp. reported strong financial results for Q2 2025, highlighting significant membership and revenue growth, along with sustained profitability metrics [2][3][4] - The company's technology-first model is credited for driving better care management and improved health outcomes for members, particularly in Medicare Advantage plans [3][20] - Clover Health updated its full-year 2025 guidance, maintaining insurance revenue expectations while improving projections for adjusted SG&A and membership growth [10][4] Financial Performance - Q2 2025 insurance revenue reached $469.8 million, a 34.3% increase from $349.9 million in Q2 2024 [4][3] - Total revenues for Q2 2025 were $477.6 million, up 34% year-over-year [4][3] - Average Medicare Advantage membership increased by 31.8% year-over-year to 105,494 [4][3] - Adjusted net income from continuing operations was $16.7 million, down 53.5% from $35.9 million in Q2 2024 [4][3] - Adjusted EBITDA for Q2 2025 was $17.1 million, a decrease of 52.8% compared to $36.2 million in Q2 2024 [4][3] Membership and Revenue Guidance - The company expects average Medicare Advantage membership to be between 104,000 and 108,000 for the full year 2025, representing a 32% growth year-over-year at the midpoint [4][10] - Insurance revenue guidance for 2025 is maintained at $1.800 billion to $1.875 billion, indicating a 37% growth year-over-year at the midpoint [10][4] - Adjusted SG&A is projected to be between $335 million and $345 million, improving as a percentage of total revenues to 18% - 19% [10][4] Operational Metrics - The Insurance Benefits Expense Ratio (BER) for Q2 2025 was 88.4%, up from 76.1% in Q2 2024 [4][3] - The company reported a net loss from continuing operations of $10.6 million for Q2 2025, compared to a net income of $7.2 million in Q2 2024 [4][3] - Total cash, cash equivalents, and investments decreased by 19.4% to $389.3 million from $482.8 million year-over-year [4][3]