2023-08-08 16:11:25 ET
- Clover Health press release ( NASDAQ: CLOV ): Q2 net loss of $28.8M.
- Revenue of $513.63M (-39.3% Y/Y) beats by $22.81M .
- 2023 Outlook: Insurance revenue is expected to be in the range of $1.20 billion to $1.23 billion in 2023, a growth rate of 11% - 13% as compared to full year 2022 Insurance revenue.
- Insurance MCR is expected to be in the range of 83% - 85% in 2023.
- Non-Insurance revenue is expected to be in the range of $0.75 billion to $0.80 billion in 2023.
- Non-Insurance MCR is expected to be in the range of 98% - 100% in 2023.
- Adjusted SG&A (non-GAAP) is expected to be between $315 million and $325 million.
- Adjusted EBITDA (non-GAAP) is expected to be between ($70 million) and ($120 million).
- Shares +3% .
For further details see:
Clover Health reports Q2 results