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CLOV • CIK 0001801170
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Premiums Earned, Net | $1,235,769 | $1,344,881 | $1,891,732 | $2,446,956 |
| Revenue Not from Contract with Customer, Other | $24,774 | $26,250 | $32,576 | $29,757 |
| Revenues | $2,033,720 | $1,371,131 | $1,924,308 | $2,476,713 |
| Operating Income (Loss) | $-208,542 | $-45,749 | $-85,529 | $-18,361 |
| Fair Value Adjustment of Warrants | $86 | $50 | $20 | $1 |
| InterestExpenseNonoperating | — | $0 | $0 | $0 |
| Gain (Loss) on Investments | $-4,726 | $-467 | $0 | $0 |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | $-46,266 | $-85,549 | $-18,362 |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | $3,257 | $0 | $0 |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $-213,361 | $-43,009 | $-85,549 | $-85,549 |
| OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax | $7,004 | $786 | $2,112 | $-1,728 |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $-206,357 | $-42,223 | $-83,437 | $-20,090 |
| Policyholder Benefits and Claims Incurred, Net | $1,776,388 | $1,006,327 | $1,568,406 | $2,016,785 |
| Labor and Related Expense | $257,157 | $232,454 | $225,475 | $216,345 |
| General and Administrative Expense | $187,571 | $176,480 | $214,270 | $260,039 |
| Goodwill and Intangible Asset Impairment | $15,945 | $0 | $0 | $0 |
| Depreciation, Depletion and Amortization, Nonproduction | $2,509 | $1,331 | $1,686 | $1,905 |
| Restructuring Costs | $9,931 | $288 | $0 | $0 |
| Operating Expenses | $2,242,262 | $1,416,880 | $2,009,837 | $2,495,074 |
| Weighted Average Number of Shares Outstanding, Basic | 482,176,127 | 490,018,730 | 511,967,146 | 526,934,620 |
| Ceded Premiums Earned | $444 | $399 | $375 | $366 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Debt Securities, Available-for-sale, Noncurrent | $120,208 | $201,719 | $187,092 | $189,443 |
| Debt Securities, Held-to-maturity, Noncurrent | $793 | $14,343 | $12,571 | $10,471 |
| Property, Plant and Equipment, Net | $5,082 | $5,307 | $6,385 | $7,231 |
| Intangible Assets, Net (Including Goodwill) | $2,990 | $2,990 | $2,990 | $2,990 |
| Other Assets, Noncurrent | $10,246 | $13,259 | $24,118 | $24,745 |
| Assets | $570,671 | $580,742 | $541,011 | $720,326 |
| Other Liabilities, Noncurrent | $20,164 | $26,083 | $23,484 | $20,739 |
| Liabilities | $284,277 | $239,599 | $232,307 | $344,069 |
| Cash and Cash Equivalents, at Carrying Value, Including Discontinued Operations | — | $194,543 | $78,301 | $198,837 |
| Other Short-term Investments | $12,218 | $0 | $17,047 | $2,481 |
| Debt Securities, Available-for-sale, Current | $100,702 | $26,997 | $23,131 | $39,727 |
| Debt Securities, Held-to-maturity, Current | $6,902 | $15 | $1,777 | $2,055 |
| Receivables from Customers | $64,164 | $51,539 | $94,866 | $73,121 |
| Prepaid Expense, Current | $14,418 | $13,174 | $18,209 | $19,213 |
| Other Assets, Current | $1,404 | $15,603 | $10,649 | $20,398 |
| Assets, Current | $427,970 | $343,124 | $307,855 | $485,446 |
| Assumed Liability for Unpaid Claims and Claims Adjustment Expense | $138,593 | $156,396 | $153,250 | $250,890 |
| Accounts Payable and Accrued Liabilities, Current | $37,184 | $34,564 | $36,211 | $35,407 |
| Accrued Salaries | $21,061 | $19,090 | $16,038 | $31,156 |
| Other Liabilities, Current | — | $3,466 | $3,324 | $5,877 |
| Liabilities, Current | $261,115 | $213,516 | $208,823 | $323,330 |
| Additional Paid in Capital | $2,461,238 | $2,576,471 | $2,682,663 | $2,706,640 |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $-2,370 | $-1,584 | $528 | $-1,551 |
| Retained Earnings (Accumulated Deficit) | $-2,159,794 | $-2,202,803 | $-2,288,352 | $-2,233,017 |
| Treasury Stock, Common, Value | $12,729 | $30,991 | $86,187 | $95,867 |
| Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $286,394 | $341,143 | $308,704 | $308,704 |
| Debt Securities, Available-for-sale, Amortized Cost, Current | $101,412 | $27,153 | $23,231 | $39,950 |
| DebtSecuritiesHeldToMaturityFairValueCurrent | $6,778 | $15 | $1,779 | $2,021 |
| Debt Securities, Available-for-sale, Amortized Cost, Noncurrent | $121,868 | $203,147 | $186,464 | $190,771 |
| DebtSecuritiesHeldToMaturityFairValueNoncurrent | $692 | $13,913 | $12,495 | $10,295 |
| Treasury Stock, Common, Shares | 7,912,750 | 18,752,947 | — | 35,782,658 |
| Cash and Cash Equivalents, at Carrying Value | $122,863 | $194,543 | $78,301 | $78,301 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $-213,361 | $-43,009 | $-85,549 | $-85,549 |
| Net Cash Provided by (Used in) Operating Activities | $-115,871 | $34,845 | $-66,934 | $77,034 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $-9,719 | $18,049 | $-116,242 | $10,189 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $176,494 | $194,543 | $78,301 | $96,127 |
| Depreciation, Depletion and Amortization, Nonproduction | $2,509 | $1,331 | $1,686 | $1,905 |
| Payments to Acquire Investments | $175,567 | $201,241 | $205,097 | $213,321 |
| Share-based Payment Arrangement, Noncash Expense | $140,931 | $114,331 | $103,657 | $72,380 |
| Depreciation, Amortization and Accretion, Net | $-4,014 | $-2,524 | $-1,843 | $-1,766 |
| Payments to Acquire Property, Plant, and Equipment | $584 | $1,556 | $2,043 | $2,825 |
| Increase (Decrease) in Accrued Interest Receivable, Net | — | $571 | $-271 | $254 |
| Net Cash Provided by (Used in) Investing Activities | $140,013 | $565 | $4,076 | $-45,520 |
| Gain (Loss) on Investments | $-4,726 | $-467 | $0 | $0 |
| Goodwill and Intangible Asset Impairment | $15,945 | $0 | $0 | $0 |
| Proceeds from Issuance of Common Stock | $0 | $193 | $1,096 | $1,092 |
| Payments for Repurchase of Common Stock | $6,220 | $1,772 | $18,298 | $1 |
| Net Cash Provided by (Used in) Financing Activities | $-33,861 | $-17,361 | $-53,384 | $-21,325 |
| Cash and Cash Equivalents, at Carrying Value | $122,863 | $194,543 | $78,301 | $78,301 |
| Restricted Cash, Current | $53,631 | $0 | $0 | $0 |
| Increase (Decrease) in Unearned Premiums | $-1,689 | $-19,177 | $-22,622 | $-45,160 |
| Increase (Decrease) in Prepaid Expense | $-3,728 | $-1,244 | $5,035 | $3,961 |
| Increase (Decrease) in Other Operating Assets | $-1,828 | $-2,852 | $5,921 | $14,210 |
| Increase (Decrease) in Accounts Receivable | $-6,443 | $-12,625 | $43,327 | $26,228 |
| Increase (Decrease) in Accounts Payable and Accrued Liabilities | $4,739 | $-2,620 | $1,647 | $1,456 |
| Increase (Decrease) in Accrued Salaries | $-2,901 | $-1,971 | $-3,052 | $5,972 |
| Increase (Decrease) in Other Noncurrent Liabilities | $4,502 | $606 | $-2,741 | $-5,397 |
| Net Cash Provided by (Used in) Operating Activities, Continuing Operations | — | $82,450 | $-66,934 | $-66,934 |
| Cash Provided by (Used in) Operating Activities, Discontinued Operations | — | $-47,605 | $0 | $0 |
| Gain (Loss) on Extinguishment of Debt | $0 | $0 | — | $0 |
| Increase (Decrease) in Other Receivables | $-6,930 | — | — | $202 |