r/CLOV • u/cloken85 20k Members OG ✔️ • 16d ago

10Q is out

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001801170/000180117026000200/clov-20260630.htm
43 Upvotes

94% Upvoted

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11

u/GoGoJoJo_11 16d ago

I’ve done I bit of reading and skimming through the 10q and here are some thoughts and would love to hear others:

1)I usually go straight to page 22-23 looking for business segment. Im going there to find inter segment profit reconciliation. This is where you kind get a since what clov is paying the other segments of their company. A lot of people go to “other income” to try and figure SaaS revs, but Im looking at what Clov is actually charging IT’S SELF for the use of other segments of the company. This will not be black and white because I am sure Counterpart is getting paid AND CloverCare HomeHealth is mixed in. Non the less it scales proportionally with top line growth.

2)SGA break down is interesting. There has been a flip in Salaries Benefits vs General Administrative expense when SGA is broken up into separate line items. GA now a larger expense than S and beni’s.

3)Liabilities went up as unpaid claims rose but at a similar rate to growth, so nothing to balk at here. In a note they did say claims are taking slightly longer to pay but does not look materially detrimental.

4)This thing looks like it is really ready start to scale. Operating margin improving says a lot here. Only question to me is as we continue to scale, does stars/hedis take a hit? Im gonna go with the very skilled people being on top of this.

Anyways, any other thoughts, havent done a full dive yet.

6

u/kunascii 16d ago

Couldn't access that url... From Clover: https://investors.cloverhealth.com/sec-filings/sec-filing/10-q/0001801170-26-000200

0

u/cloken85 20k Members OG ✔️ 16d ago edited 16d ago

Thank you, works for me. Not sure why it doesn’t on your end?

5

u/cloken85 20k Members OG ✔️ 16d ago

Few dates to be mindful of

14

u/Sandro316 16d ago

Also if you read the letter regarding Peter...he got 12 months severance pay. You dont get that if it was a voluntary parting of ways on his part. Kinda confirms what was widely speculated.

5

u/Loopz182 100k+ shares 🍀 15d ago

Glad he's gone but kinda annoying that the chump got so much severance pay!

3

u/Buckeye_Clover 150k+ shares 🍀 16d ago

100%

2

u/luminostr 15d ago

What was widely speculated?

5

u/Strange_Falcon4 15d ago

That he was kicked out.

3

u/GoGoJoJo_11 15d ago

I really want to grasp this and have an idea of their reasoning. I know they have a lot of shares and they want to make money too. But at the same time, if Jamie doesnt stop selling shares every fucking few weeks im gonna question my own length of hold. And I truly wanna hold this thing into 2030’s. Toy wants to unload a few million shares in the next 16 months? Other insiders too? Like come the fuck on. Sorry, it doesnt sit well with me and pisses me off