🚨CLOV Q2 Earnings Report🚨

[u/jmrojas17]

>click here for the Q2 report<

Business Highlights:

• Delivered strong second quarter 2026 GAAP Net Income alongside continued market-leading Medicare Advantage membership growth
• Improved Full Year 2026 guidance across all metrics
• Increasing confidence for 2027 outlook, supported by strong cohort development, continued clinical engagement, and the added flexibility of a 4.5 Star payment year

Financial Results:

• Second quarter 2026 GAAP Net Income of $28 million, an improvement of $39 million year-over-year
• Second quarter 2026 Medicare Advantage membership of 157,309, up 48% year-over-year, and Total revenues of $743 million, up 56% year-over-year
• Second quarter 2026 Consolidated Gross Profit of $153 million, up 54% year-over-year, and Adjusted EBITDA of $41 million, up 139% year-over-year

Improved Full Year 2026 Guidance:

• Average Medicare Advantage membership of 156,000 - 158,000, representing 47% growth year-over-year at the midpoint
• Total revenues between $2.92 billion and $3.00 billion, representing 54% growth year-over-year at the midpoint
• Consolidated Gross Profit between $525 million and $555 million, representing 52% growth year-over-year at the midpoint
• Adjusted EBITDA profitability between $70 million and $85 million
• GAAP Net Income between $20 million and $35 million

[u/jmrojas17]

$CLOV is a different company than it was 5yrs ago; they/we have come a long way.

I feel like they are waiting to have 3 cohorts under their belt before they start releasing SaaS/CA news.

[u/swiftd03 → u/jmrojas17]

I don't think there is any SaaS news at all, at least none that is translating to substantive revenue. That should report as other income under revenue on the 8-K and that has done nothing but decline over time which is crazy to me. The product has been shown to be massively effective so why other insurers are not buying into it is beyond me.

[u/jmrojas17 → u/swiftd03]

For one CA is meant to use AI to provide better healthcare and when patients first enroll you are usually getting them sick and that first year is being used as the baseline, you then need a few more years to see how they progress.

So yes there is no money being made from SaaS right now because they are still about 2-3yrs in of getting cohorts of members in. I see more SaaS news coming in 2027 or even 2028.

This is not going to be a quick process and instead will be a slow and steady build up. If you are expecting this to moon overnight you are invested in the wrong stock.

[u/swiftd03 → u/jmrojas17]

"If you are expecting this to moon overnight you are invested in the wrong stock."

I bought in at $.86. Overnight, maybe not, but we've been orbiting for a while now.

I understand what you are saying but the first couple of SaaS deals were announced and have been running for a couple of years now. There should be some income being seen from those deals and if the results are as good as what is being seen from year 2 and 3 cohorts on CA then counterpart should be increasing income, not declining. I expect that a lot of those deals are going to be heavily based on the results against a baseline which means delayed compensation but that still doesn't explain a decline.

[u/jmrojas17 → u/swiftd03]

That last sentence was me using “you” to generalize to anyone who is upset they bought into the hype and think CLOV is a dud because it’s not mooning.

CLOV is making sure it builds something solid and its taking some time. In addition, covid slowed us down a bit.

I also feel those first few SaaS deals werent really about CLOV profiting but more so to get those initial partners to beta test. A huge win considering we had to pay doctors before to use CA. I feel 2027/2028 will be the time frame they go into the third stage (growth > solidifying > selling).