Clover Health reported strong third quarter results, swinging to GAAP profitability and exceeding top-line expectations. The company demonstrated significant operating leverage through its technology platform, leading management to raise the full-year 2026 outlook for revenue, net income, and Adjusted EBITDA.

Key Highlights

  • Total revenue surged 53% year-over-year to $759.3 million, outperforming the analyst consensus of $740.3 million.
  • Medicare Advantage membership grew 45% to 158,907, while the Insurance Benefits Expense Ratio (BER) improved by 240 basis points to 91.1%.
  • Management raised the full-year 2026 revenue guidance floor to $2.97 billion and increased the GAAP net income target to a range of $25 million to $35 million.
  • The company's flagship PPO plan, representing approximately 98% of membership, achieved a 5-star rating for the 2028 payment year.