Clover Health Investments Corp. (CLOV) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
3401 MALLORY LANE, SUITE 210 FRANKLIN, TN 37067 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6324 - Hospital and Medical Service Plans (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | |||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current Assets | |||||||
| Cash, cash equivalents, and short-term investments | 243 | 335 | 615 | 28 | |||
| Cash and cash equivalents | 123 | 104 | 300 | 28 | |||
| Short-term investments | 120 | 231 | 315 | ||||
| Restricted cash and investments | 54 | 82 | |||||
| Prepaid expense | 14 | 18 | 9 | ||||
| Disposal group, including discontinued operation | |||||||
| Deposits current assets | 56 | 101 | 13 | ||||
| Other current assets | 1 | 4 | 18 | ||||
| Other undisclosed current assets | 60 | 85 | 97 | 0 | |||
| Total current assets: | 428 | 625 | 753 | 28 | |||
| Noncurrent Assets | |||||||
| Operating lease, right-of-use asset | 3 | 4 | 5 | ||||
| Property, plant and equipment | 5 | 6 | 2 | ||||
| Long-term investments and receivables | 121 | 138 | 176 | ||||
| Long-term investments | 121 | 138 | 176 | ||||
| Intangible assets, net (including goodwill), including: | 3 | 20 | 4 | ||||
| Goodwill | 12 | 1 | |||||
| Intangible assets, net (excluding goodwill) | 3 | ||||||
| Other undisclosed intangible assets, net (including goodwill) | 3 | 8 | 0 | ||||
| Other noncurrent assets | 10 | 16 | 10 | ||||
| Other undisclosed noncurrent assets | 828 | ||||||
| Total noncurrent assets: | 143 | 184 | 198 | 828 | |||
| TOTAL ASSETS: | 571 | 809 | 951 | 856 | |||
| LIABILITIES AND EQUITY | |||||||
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts payable and accrued liabilities, including: | 37 | 32 | 28 | 5 | |||
| Accrued liabilities | 5 | ||||||
| Other undisclosed accounts payable and accrued liabilities | 37 | 32 | 28 | ||||
| Deferred revenue | 3 | ||||||
| Disposal group, including discontinued operation | |||||||
| Other liabilities | 0 | 0 | |||||
| Due to related parties | ✕ | ✕ | 2 | 2 | 29 | ||
| Other undisclosed current liabilities | 221 | 406 | 342 | 0 | |||
| Total current liabilities: | 261 | 441 | 373 | 34 | |||
| Noncurrent Liabilities | |||||||
| Long-term debt and lease obligation | 25 | ||||||
| Long-term debt, excluding current maturities | 20 | ||||||
| Liabilities, other than long-term debt | 23 | 20 | 14 | ||||
| Other liabilities | 20 | 16 | 14 | ||||
| Operating lease, liability | 3 | 4 | 5 | ||||
| Other undisclosed noncurrent liabilities | 29 | ||||||
| Total noncurrent liabilities: | 23 | 20 | 39 | 29 | |||
| Total liabilities: | 284 | 461 | 411 | 63 | |||
| Equity | |||||||
| Equity, attributable to parent, including: | 286 | 348 | 535 | 5 | |||
| Treasury stock, value | (13) | (7) | (0) | ||||
| Additional paid in capital | 2,461 | 2,319 | 2,154 | 12 | |||
| Accumulated other comprehensive income (loss) | (2) | (9) | (2) | ||||
| Accumulated deficit | (2,160) | (1,956) | (1,617) | (7) | |||
| Other undisclosed equity, attributable to parent | 0 | 0 | 0 | ||||
| Equity, attributable to noncontrolling interest | 4 | ||||||
| Other undisclosed equity | 0 | 789 | |||||
| Total equity: | 286 | 348 | 539 | 794 | |||
| TOTAL LIABILITIES AND EQUITY: | 571 | 809 | 951 | 856 | |||
Income Statement (P&L) ($ in millions)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|
| Revenues | 2,034 | 3,477 | 1,472 | |||
| Premiums earned, net | 1,236 | 1,085 | 799 | |||
| Cost of revenue (Policyholder Benefits and Claims Incurred, Net) | (1,776) | (3,454) | ||||
| Other undisclosed gross profit | (1,551) | |||||
| Gross profit: | 257 | 23 | (79) | |||
| Operating expenses | (2,242) | (3,848) | (2,109) | |||
| Other undisclosed operating income (loss) | 1,776 | 3,454 | 1,551 | (7) | ||
| Operating loss: | (209) | (371) | (637) | (7) | ||
| Nonoperating income (expense) (Investment Income, Nonoperating) | (5) | 9 | 0 | |||
| Interest and debt expense | (0) | 22 | (3) | |||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | ||||||
| Loss from continuing operations before income taxes: | (213) | (340) | (640) | (7) | ||
| Other undisclosed loss from continuing operations | ||||||
| Loss from continuing operations: | (213) | (340) | (640) | (7) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (640) | (7) | |
| Income from discontinued operations | ||||||
| Other undisclosed net income (loss) | (0) | 1 | 52 | |||
| Net loss attributable to parent: | (213) | (339) | (588) | (7) | ||
| Other undisclosed net loss available to common stockholders, basic | (0) | |||||
| Net loss available to common stockholders, diluted: | (213) | (339) | (588) | (7) | ||
Comprehensive Income ($ in millions)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|
| Net loss: | (213) | (339) | (588) | (7) | ||
| Other comprehensive loss | (2) | |||||
| Comprehensive loss: | (213) | (339) | (590) | (7) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 7 | (7) | ||||
| Comprehensive loss, net of tax, attributable to parent: | (206) | (346) | (590) | (7) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.