Clover Health Investments, Corp. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 04:11 pm EDT
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Clover Health Investments, Corp. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 28.81 million compared to USD 104.36 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.22 a year ago.
For the six months, net loss was USD 101.42 million compared to USD 179.85 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to USD 0.38 a year ago.
Clover Health Investments, Corp. is a physician enablement company. The Company is focused on seniors who have historically lacked access to affordable healthcare. It offers a software platform, Clover Assistant, which is designed to aggregate patient data from across the health ecosystem to support clinical decision-making and improve health outcomes. The Company operates under two segments: Insurance and Non-Insurance. Through its Insurance segment, it provides Preferred Provider Organization (PPO) and Health Maintenance Organization (HMO) plans to Medicare Advantage (MA) members in several states. The Company's Non-Insurance segment consists of operations in connection with its participation in the Direct Contracting program. The Companyâs subsidiaries include Clover Health Labs, LLC, Medical Service Professionals of NJ LLC, Clover HMO of New Jersey Inc., Clover Health Holdings, Inc. and Clover Health Partners, LLC.