Healthcare technology company Clover Health Investments Corp. (NASDAQ:CLOV) is trading lower after reporting second-quarter financial results after market close on Tuesday.
CLOV is seeing a decline in price after-hours. Track it now here.
What Happened: The company reported second-quarter revenue of $477.62 million, up 34% year-over-year. The revenue total beat a Street consensus estimate of $468.30 million according to data from Benzinga Pro.
The company reported an adjusted net loss of two cents per share, beating a Street estimate of a loss of three cents per share.
"Our performance further demonstrates how our technology-first model drives better care management, above-market growth, and sustained profitability," Clover Health CEO Andrew Toy said.
What's Next: The company is increasing its average Medicare Advantage membership to a range of 104,000 to 108,000, up 32% year-over-year at the midpoint of the range.
Clover maintains guidance of full-year insurance revenue in a range of $1.80 billion to $1.875 billion, up 37% year-over-year the midpoint.
The company also maintained guidance of full-year adjusted net income in a range of $50 million to $70 million.
"We are executing our growth strategy well, and have generated significant momentum in our business this year during a 3.5 Star payment year," Clover Health CFO Peter Kuipers said. "We believe this positions us well to achieve our updated 2025 guidance and expect it to further accelerate our growth and profitability in 2026."
CLOV Price Action: Clover stock is down 9.86% to $2.57 in after-hours trading Tuesday versus a 52-week trading range of $1.64 to $4.86.
Read Next:
Photo: Dennis Diatel via Shutterstock
