CLOVER HEALTH INVESTMENTS Reports 43.7% Decrease in Revenue and 45.8% Decrease in Net Income for FY2023 Q3

🌥️Earnings Overview

CLOVER ($NASDAQ:CLOV): Net income amounted to USD -41.5 million, which was a 45.8% decline from the previous year.

Analysis

GoodWhale recently conducted an analysis on the fundamentals of CLOVER HEALTH INVESTMENTS. According to the Star Chart, CLOVER HEALTH INVESTMENTS is strong in asset and growth, but weak in dividend and profitability. Therefore, CLOVER HEALTH INVESTMENTS is classified as a “cheetah”, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. This makes it an attractive option for investors that are willing to take on extra risk in exchange for potential returns. Furthermore, CLOVER HEALTH INVESTMENTS has an intermediate health score of 4/10 based on its cashflows and debt. This implies that even during a crisis, CLOVER HEALTH INVESTMENTS is unlikely to experience bankruptcy and can ride out any financial hardship without serious consequences. Overall, CLOVER HEALTH INVESTMENTS is a high-risk investment, but it may still be attractive to investors who are looking for potentially high returns. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for CLOV. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for CLOV. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for CLOV. More…

Key Ratios Snapshot

Some of the financial key ratios for CLOV are shown below. More…

Peers

Clover Health Investments Corp is in the business of providing health insurance and related services. Its competitors are UnitedHealth Group Inc, Alignment Healthcare Inc, and Humana Inc.

– UnitedHealth Group Inc ($NYSE:UNH)

UnitedHealth Group Inc. is an American diversified multi-national health care company, headquartered in Minnetonka, Minnesota. It offers a spectrum of health care products and services through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides information and technology-enabled health services.

– Alignment Healthcare Inc ($NASDAQ:ALHC)

Alignment Healthcare is a healthcare services company that operates in the United States. The company offers a range of services, including healthcare benefits management, care coordination, and provider network management. It serves seniors, people with Medicare, and people with Medicaid. As of 2022, the company had a market cap of 2.41B and a ROE of -27.03%.

– Humana Inc ($NYSE:HUM)

Humana Inc is a for-profit American health insurance company. As of 2022, it had a market capitalization of $69.89 billion and a return on equity of 15.61%. The company offers health, dental, and vision insurance plans for individuals, families, and businesses in the United States. It also has a provider network of more than 1.2 million physicians and other healthcare professionals.

Summary

Clover Health Investments, a healthcare technology and services company, reported a 43.7% decrease in total revenue and a 45.8% decrease in net income for the third quarter of fiscal year 2023 (ending September 30 2023). Despite this, the company’s stock price rose the same day. This could suggest that investors are optimistic about the company’s future prospects, as it continues to innovate in its field and expand into new markets. Ultimately, potential investors should consider the company’s financials as well as any other factors before investing in Clover Health Investments.