← CLOVER HEALTH INVESTMENTS, CORP. /DE
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenues: | ||||||||
| Total operating expenses | $645.5m | $765.6m | $2.1b | $3.8b | $2.2b | $1.4b | $2.0b | |
| Premiums earned, net (Net of ceded premiums of $375, $399, and $444 for the year ended December 31, 2025, 2024, and 2023, respectively.) | $456.9m | $665.7m | $799.4m | $1.1b | $1.2b | $1.3b | $1.9b | |
| Other income | $5.3m | $7.2m | $4.9m | $11.7m | $24.8m | $26.2m | $32.6m | |
| Net medical claims incurred | $446.7m | $585.4m | $1.5b | $3.5b | $1.8b | $1.0b | $1.6b | |
| Salaries and benefits | $91.6m | $71.3m | $260.5m | $278.7m | $257.2m | $232.5m | $225.5m | |
| Impairment of goodwill and other intangible assets | — | — | $0 | $0 | $15.9m | $0 | $0 | |
| Premium deficiency reserve benefit | — | — | $110.6m | ($93.5m) | ($7.2m) | $0 | $0 | |
| Depreciation and amortization | $551k | $555k | $1.2m | $1.2m | $2.5m | $1.3m | $1.7m | |
| Loss from continuing operations | ($183.2m) | ($6.9m) | ($637.0m) | ($370.9m) | ($208.5m) | ($45.7m) | ($85.5m) | |
| Change in fair value of warrants | $2.9m | $80.3m | ($66.1m) | ($900k) | $86k | $50k | $20k | |
| Loss on investment | — | $0 | $0 | ($9.2m) | $4.7m | $467k | $0 | |
| Net loss from continuing operations | ($183.2m) | ($6.9m) | ($637.0m) | ($254.6m) | ($210.1m) | ($46.3m) | ($85.5m) | |
| Net income (loss) from discontinued operations | — | ($136.4m) | ($587.8m) | ($85.0m) | ($3.2m) | $3.3m | $0 | |
| Net loss | ($363.7m) | ($6.7m) | ($587.8m) | ($338.8m) | ($213.4m) | ($43.0m) | ($85.5m) | |
| Net unrealized gain on available-for-sale investments | — | ($36k) | ($1.9m) | ($7.4m) | $7.0m | $786k | $2.1m | |
| Comprehensive loss | ($363.7m) | ($136.4m) | ($589.7m) | ($346.3m) | ($206.4m) | ($42.2m) | ($83.4m) | |
| Basic loss per share (in dollars per share) | ($4.14) | ($1.54) | ($1.42) | ($0.53) | ($0.44) | ($0.09) | ($0.17) | |
| Diluted loss per share (in dollars per share) | ($4.14) | ($0.32) | ($1.42) | ($0.53) | ($0.44) | ($0.09) | ($0.17) | |
| Basic earnings (loss) per share (in dollars per share) | ($4.14) | ($1.54) | ($1.42) | ($0.18) | ($0.01) | $0.01 | $0.00 | |
| Diluted earnings (loss) per share (in dollars per share) | ($4.14) | ($0.32) | ($1.42) | ($0.18) | ($0.01) | $0.01 | $0.00 | |
| Basic weighted average number of class A and class B common shares and common share equivalents outstanding (in shares) | 87.8m | 88.7m | 412.9m | 476.2m | 482.2m | 490.0m | 512.0m | |
| Diluted weighted average number of class A and class B common shares and common share equivalents outstanding (in shares) | 87.8m | 88.7m | 412.9m | 476.2m | 482.2m | 490.0m | 512.0m | |
| General and administrative expenses | $95.7m | $120.8m | $185.3m | $207.9m | $187.6m | $176.5m | $214.3m | |
| Restructuring costs | — | — | $0 | $0 | $9.9m | $288k | $0 | |
| Interest expense | $23.2m | $36.0m | $3.2m | $1.3m | $7k | $0 | $0 |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.