Clover Health Reports Third Quarter 2026 Results
Key Highlights
- ➤Third-quarter revenue $759 million, up 53% year-over-year
- ➤Third-quarter GAAP net income $6 million, improving $31 million year-over-year
- ➤Medicare Advantage membership 158,907, up 45% year-over-year
- ➤2026 revenue guidance raised to $2.97 billion-$3.00 billion
- ➤Flagship PPO, ~98% of members, receives 5 Star rating for Payment Year 2028
Expert Statements
Andrew Toy, CEO of Clover Health
“Our results further demonstrate our technology-powered differentiation, and how earlier and better care management, market-leading growth, and increasing profitability can reinforce one another under the right model”
Andrew Toy, CEO of Clover Health
“Through Clover Assistant, we are committed to delivering better clinical quality and lower total cost of care. We are pleased that this continues to show up in our results, with ~98% of our members enrolled in our 5 Star rated PPO for Payment Year 2028, alongside our third consecutive year of nation-leading HEDIS performance.”
Clay Thornton, CFO of Clover Health
“In 2026, Clover is on track to have grown significantly and expects to deliver its first full year of GAAP Net Income profitability”
Clay Thornton, CFO of Clover Health
“With our largest member cohorts maturing, continued operating leverage, and strong Star ratings performance, we believe we are well positioned for meaningful earnings expansion in 2027.”
Business Highlights: * Strong third quarter performance brings year-to-date GAAP Net Income to $62 million alongside 49% year-over-year Medicare Advantage membership growth * Improved Full Year 2026 guidance across all metrics * 2027 AEP tracking well, with significant growth due to strong product positioning in core markets * Clover’s flagship PPO, representing ~98% of current membership, received a 5 Star rating for Payment Year 2028 Financial Results: * Third quarter 2026 GAAP Net Income of $6 million, an improvement of $31 million year-over-year * Third quarter 2026 Medicare Advantage membership of 158,907, up 45% year-over-year, and Total revenues of $759 million, up 53% year-over-year * Third quarter 2026 Consolidated Gross Profit of $130 million, up 77% year-over-year, and Adjusted EBITDA of $16 million, up $14 million year-over-year Improved Full Year 2026 Guidance: * Average Medicare Advantage membership of 157,000 - 158,000, representing 47% growth year-over-year at the midpoint * Total revenues between $2.97 billion and $3.00 billion, representing 55% growth year-over-year at the midpoint * GAAP Net Income between $25 million and $35 million * Consolidated Gross Profit between $540 million and $555 million, representing 54% growth year-over-year at the midpoint * Adjusted EBITDA profitability between $75 million and $85 million WILMINGTON, Del., Nov. 04, 2026 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover,” “Clover Health” or the “Company”), today reported financial results for the third quarter 2026. Management will host a conference call today at 5:00 p.m. ET to discuss its operating results and other business highlights.
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