Clover Health Investments(US:CLOV)2024-05-07 21:42Financial Performance - Clover Health improved its 2024 guidance to target full-year Adjusted EBITDA profitability and believes it has sufficient capital for operating and growth needs[4] - The company's Q1 2024 Insurance MCR was 77.9% with 8% revenue growth[31] - Clover Health's Adjusted EBITDA improved year-over-year by $44.3 million to $6.8 million in Q1 2024, compared to ($37.5) million in Q1 2023[31] - Adjusted SG&A decreased 12% to $74.9 million in Q1 2024, compared to Q1 2023[31] - Net loss from continuing operations improved year-over-year by $56.5 million to ($23.2) million in Q1 2024, compared to ($79.7) million in Q1 2023[31] Outlook and Liquidity - Clover Health is targeting $1.30 billion - $1.35 billion in annual premiums and positive Adjusted EBITDA profitability of $10 million - $30 million for full-year 2024[26] - The company expects pro-forma year-end 2024 unregulated liquidity of between $145 million - $165 million[37] - Clover Health had unregulated liquidity of approximately $137 million at year-end 2023[37] Clover Assistant and Clover Home Care - Clover Health continues to focus and invest in its unique care management platform, Clover Assistant and Clover Home Care, to deliver an increasing impact and better care management for members[25] - Clover Assistant is designed to enable any provider to deliver consistent, high-quality care, allowing for wider network construction in a sustainable fashion[8] - Clover Home Care supplements community physicians to meet the needs of patients that are most at-risk[8]