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EX-99.1

2 a1q26exx991xearningsrelease.htm

EX-99.1

Document

Exhibit 99.1

Clover Health Reports First Quarter 2026 Results

Business Highlights:

•Delivered positive GAAP Net Income in the first quarter of 2026, with strong performance across key metrics: Total revenues, Adjusted EBITDA, and Consolidated Gross Profit

•Market-leading Medicare Advantage membership growth with underlying trends tracking in line with expectations

•Expect to meet or exceed full year 2026 outlook across all metrics, including achieving first full year GAAP Net Income profitability

Financial Results:

•First quarter 2026 GAAP Net Income of $27 million, an improvement of $29 million year-over-year

•First quarter 2026 Medicare Advantage membership of 155,773, up 51% year-over-year, and Total revenues of $749 million, up 62% year-over-year

•First quarter 2026 Consolidated Gross Profit of $160 million, up 47% year-over-year, and Adjusted EBITDA of $40 million, up 56% year-over-year

Full Year 2026 Guidance:

•Average Medicare Advantage membership of 154,000 - 158,000, representing 46% growth year-over-year at the midpoint

•Total revenues between $2.81 billion and $2.92 billion, representing 49% growth year-over-year at the midpoint

•Consolidated Gross Profit between $470 million and $510 million, representing 38% growth year-over-year at the midpoint

•Adjusted EBITDA profitability between $50 million and $70 million

•GAAP Net Income between $0 million and $20 million

WILMINGTON, Del. – May 6, 2026 – Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover,” “Clover Health” or the “Company”), today reported financial results for the first quarter 2026. Management will host a conference call today at 5:00 p.m. ET to discuss its operating results and other business highlights.

“Our results demonstrate the differentiated model we have built to drive growth and profitability while expanding access to high-quality, affordable care through a wide-network PPO,” said Clover Health CEO Andrew Toy. “During the first quarter, we delivered strong performance across key metrics, driven by deeper clinical engagement, with Clover Assistant supporting earlier intervention and better outcomes for our members. As we continue to scale our technology to reach more members, we expect to achieve our first full year of GAAP Net Income profitability in 2026.”

“We achieved positive GAAP Net Income in the first quarter of 2026 while continuing to grow at a market-leading rate,” said Clover Health Interim CFO Clay Thornton. “Results are developing in line with our expectations, and we are encouraged by early medical cost trend indicators across both new and returning cohorts. We expect to meet or exceed our full year 2026 outlook across all metrics, including our expectation to deliver GAAP Net Income profitability.”

1

Key Company highlights are as follows:

Three Months Ended March 31,

Dollars in Millions20262025Change (%)

Consolidated:

Total revenues $749.2 $462.3 62.1 %

Consolidated Gross profit(1) $159.5 $108.9 46.5 %

Salaries and benefits plus General and administrative expenses ("SG&A")$131.7 $109.7 20.1 %

Adjusted Salaries and benefits plus General and administrative expenses ("Adjusted SG&A")(2) $119.3 $83.1 43.6 %

Adjusted SG&A as a % of Total revenues15.9 %18.0 %(210) bps

Net income (loss)

$27.3 $(1.3)N/A*

Adjusted EBITDA(2) $40.3 $25.8 56.2 %

Adjusted Net income(2) $39.7 $25.3 56.9 %

Total cash, cash equivalents, and investments$418.2 $390.8 7.0 %

Insurance Segment:

Average Medicare Advantage membership(5) 154,607 101,959 51.6 %

Insurance revenue$744.2 $456.9 62.9 %

Insurance net medical claims incurred$610.0 $367.9 65.8 %

Insurance BER(3) 86.5 %86.1 %40 bps

1,2,3,4,5

2026 Financial Guidance

2026 Guidance

Total revenues $2.81 billion - $2.92 billion

Consolidated Gross profit(1) $470 million - $510 million

Adjusted EBITDA(4) $50 million - $70 million

GAAP Net income$0 million - $20 million

Average Medicare Advantage membership154,000 - 158,000

Lives under Clover Management

March 31, 2026March 31, 2025

Insurance members155,773 103,418

Earnings Conference Call Details

*Not presented as a % change because the current or prior period amount is zero or the amount for the line item changed from a gain to a loss (or vice versa) and thus yields a result that is not meaningful.

1 Consolidated Gross profit (Non-GAAP) is a non-GAAP financial measure and is calculated by taking net income (loss) before salaries and benefits, general and administrative expenses, depreciation and amortization, premium deficiency reserve expense, restructuring costs, impairment of goodwill and other intangible assets, interest expense, change in fair value of warrants, and loss on investment. A reconciliation of Consolidated Gross profit (Non-GAAP) to Net income, the most directly comparable GAAP measure is provided in the table immediately following the consolidated financial statements below. A reconciliation of projected Consolidated Gr

clov-20260226FALSE0001801170CLOVER HEALTH INVESTMENTS, CORP. /DE00018011702026-02-262026-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 26, 2026

CLOVER HEALTH INVESTMENTS, CORP.

(Exact name of Registrant as Specified in Its Charter)

Delaware 001-3925298-1515192 (State or Other Jurisdiction (Commission File Number)(IRS Employer

of Incorporation) Identification No.)

Not Applicable(1) Not Applicable(1)

(Address of Principal Executive Offices)(Zip Code)

Not Applicable(1) (Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Trading

Title of each class Symbol(s) Name of each exchange on which registered Class A Common Stock, par value $0.0001 per shareCLOVThe NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

(1) We are a remote-first company. Accordingly, we do not maintain a headquarters. For purposes of compliance with applicable requirements of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, stockholder communications required to be sent to our principal executive offices may be directed to the email address: secretary@cloverhealth.com, or to our agent for service of process at The Corporation Trust Company, 1209 Orange Street, Wilmington, Delaware 19801.

Item 2.02 Results of Operations and Financial Condition. On February 26, 2026, Clover Health Investments, Corp. (the "Company") issued a press release announcing its financial results for the fourth quarter ended and year ended December 31, 2025. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information set forth in this Item 2.02 (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) List of Exhibits

Exhibit No.Description

99.1Press release dated February 26, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Clover Health Investments, Corp.

Date:February 26, 2026By:/s/ Peter Kuipers Name:Peter Kuipers Title:Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)