/
At Clover Health, our vision is to empower every physician with technology to identify, manage, and treat chronic diseases earlier. This results in earlier diagnosis and treatment, earlier disease management and more affordable and accessible care.
The business is unprofitable at the operating level (-4.44% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 40.3%, still solid. Free cash flow declined 307% despite revenue growth, conversion is weakening.
Free cash flow declined 307% versus the prior year, cash generation momentum has weakened. ROIC dropped from -11.37% to -20.59%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$2.21B
▲ +40.3% YoY
Net Income (TTM)
-$57M
▼ -98.9% YoY
Op. Margin
-2.57%
▼ -1.1pp YoY
ROIC
-13.46%
▼ -9.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$55M
▼ -307.2% YoY
Op. Cash Flow (TTM)
$57M
▼ -292.1% YoY
Net Debt
-$197M
Net Cash Position
Cash & Equiv.
$197M
5Y CAGR: +23.4%
Continue Research