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Clover Health 2022 Revenue Guidance Includes Consensus Estimate

Seeking Alpha2022-11-07

Clover Health Investment Corp.'s (NASDAQ:CLOV) 2022 revenue estimate of $3.2B-$3.4B includes the consensus estimate of $3.31B.

The health insurer added that its projected full-year insurance medical cost ratio (MCR) of 93%-94% would be an improvement over 2021's level.

In its Q3 2022 financial results, Clover Health's (CLOV) net loss more than doubled to $75.3M from $34.5M in the year-ago period.

Revenue of ~$857M, a 101% year-over-year increase, was a beat.

Clover Health (CLOV) was hurt in the quarter by a dramatic increase of ~92% in net medical claims incurred to ~$839.8M.

The company ended the quarter with cash and cash equivalents of $782.7M, a 1% decline from Dec. 31, 2021.

Seeking Alpha's Quant Rating views Clover Health (CLOV) as a sell.

Clover Health shares climbed 2.2% in extended trading.

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  • ccwee
    ·2022-11-08
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  • Cvt
    ·2022-11-08
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    ·2022-11-07
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