Clover Health Investments, Corp. (CLOV) Income Statement
CLOV 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCLOV revenue and net income
Where CLOV's revenue goes
2025Each bar shows an amount and its share of revenue. CLOV kept −4.4% of revenue as net income.
CLOV profit margins
CLOV growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +40.3% | +20.6% | +23.4% | — |
| Gross profit | −2.4% | +50.9% | +33.9% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CLOV quarterly EPS vs estimates
Clover Health Investments beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 4, 2026 (estimate $-0.01).
CLOV income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.92B | $1.37B | $1.26B | $1.10B | $1.47B | $672.9M | $462.3M | $281.0M |
| Cost of revenue | $1.57B | $1.01B | $1.00B | $993.1M | $1.55B | $590.1M | $449.7M | $0 |
| Gross profit | $355.9M | $364.8M | $256.0M | $103.5M | −$79.2M | $82.8M | $12.6M | $281.0M |
| Sales, general & admin | $176.3M | $408.9M | $440.2M | $482.4M | $445.7M | $192.1M | $187.3M | $187.3M |
| Total operating expenses | $441.4M | $410.6M | $461.3M | $390.1M | $557.8M | $175.5M | $195.8M | $476.0M |
| Operating income | −$85.5M | −$45.7M | −$205.3M | −$286.7M | −$637.0M | −$92.7M | −$183.2M | −$185.8M |
| Interest income | — | — | — | — | — | $117,255 | — | — |
| Interest expense | $0 | $0 | $7,000 | $1.4M | $16.9M | $57.1M | $39.1M | $0 |
| Income before taxes | −$85.5M | −$46.3M | −$210.1M | −$254.6M | −$587.8M | −$136.4M | −$363.7M | −$201.9M |
| Income taxes | — | — | −$208.5M | −$33.4M | $16.9M | $57.1M | $39.1M | −$16.1M |
| Net income | −$85.5M | −$43.0M | −$213.4M | −$339.6M | −$587.8M | −$136.4M | −$363.7M | −$201.9M |
| EBITDA | −$83.9M | −$44.9M | −$207.6M | −$252.0M | −$569.6M | −$78.7M | −$324.1M | −$372.0M |
| EPS (diluted) | −$0.07 | −$0.10 | −$0.41 | −$0.71 | −$1.27 | −$1.57 | −$4.23 | −$2.76 |
| Gross margin | 18.5% | 26.6% | 20.3% | 9.4% | −5.4% | 12.3% | 2.7% | 100.0% |
| Operating margin | −4.4% | −3.3% | −16.3% | −26.1% | −43.3% | −13.8% | −39.6% | −66.1% |
| Net margin | −4.4% | −3.1% | −16.9% | −31.0% | −39.9% | −20.3% | −78.7% | −71.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $743.2M | $749.2M | $487.7M | $496.6M | $477.6M | $462.3M | $337.0M | $331.0M | $356.3M | $346.9M | $510.3M | $306.0M |
| Cost of revenue | $590.2M | $589.6M | $413.5M | $423.5M | $378.0M | $353.4M | $243.0M | $249.8M | $248.3M | $265.2M | $448.0M | $235.8M |
| Gross profit | $153.0M | $159.5M | $74.2M | $73.2M | $99.6M | $108.9M | $93.9M | $81.2M | $107.9M | $81.8M | $62.3M | $70.2M |
| Sales, general & admin | $124.4M | $131.7M | $140.3M | $97.1M | $109.8M | $109.7M | $115.0M | $90.2M | $99.9M | $103.8M | $109.9M | $101.6M |
| Total operating expenses | $125.0M | $132.2M | $123.5M | $97.6M | $110.2M | $110.2M | $115.4M | $90.0M | $100.7M | $104.5M | $127.9M | $103.9M |
| Operating income | $28.0M | $27.3M | −$49.3M | −$24.4M | −$10.6M | −$1.3M | −$21.4M | −$8.8M | $7.2M | −$22.7M | −$65.7M | −$33.6M |
| Interest expense | — | — | — | — | — | — | $0 | $0 | $0 | — | $0 | $0 |
| Income before taxes | $28.0M | $27.3M | −$49.3M | −$24.4M | −$10.6M | −$1.3M | −$21.5M | −$8.8M | $7.2M | −$23.2M | −$70.5M | −$33.6M |
| Income taxes | — | — | — | — | — | — | — | — | −$45.3M | −$820,000 | −$65.7M | $596,586 |
| Net income | $28.0M | $27.3M | −$49.3M | −$24.4M | −$10.6M | −$1.3M | −$22.1M | −$9.2M | $7.4M | −$19.2M | −$70.5M | −$41.5M |
| EBITDA | $28.6M | $27.8M | −$48.9M | −$24.0M | −$10.2M | −$808,000 | −$21.1M | −$9.0M | $7.5M | −$22.0M | −$69.8M | −$33.1M |
| EPS (diluted) | $0.06 | $0.07 | −$0.10 | −$0.05 | $0.03 | $0.05 | −$0.05 | −$0.02 | $0.02 | −$0.05 | −$0.14 | −$0.08 |
| Gross margin | 20.6% | 21.3% | 15.2% | 14.7% | 20.9% | 23.6% | 27.9% | 24.5% | 30.3% | 23.6% | 12.2% | 23.0% |
| Operating margin | 3.8% | 3.6% | −10.1% | −4.9% | −2.2% | −0.3% | −6.4% | −2.7% | 2.0% | −6.5% | −12.9% | −11.0% |
| Net margin | 3.8% | 3.6% | −10.1% | −4.9% | −2.2% | −0.3% | −6.6% | −2.8% | 2.1% | −5.5% | −13.8% | −13.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CLOV's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CLOV financial results
In fiscal year 2025 (ended December 31, 2025), Clover Health Investments reported revenue of $1.9 billion, up 40.3% from the year before. It had a net loss of $85.5 million, a net profit margin of −4.4%. Diluted earnings per share came to −$0.07. Over five years revenue grew at an average rate of 23.4% a year.
See the CLOV stock overview for the latest quote and news, or the CLOV chart for price history and technical indicators.
CLOV income statement FAQ
What is Clover Health Investments's annual revenue?
Clover Health Investments reported total revenue of $1.9 billion for fiscal year 2025, which ended on December 31, 2025. That was up 40.3% from $1.4 billion the previous year.
Is Clover Health Investments profitable?
No. Clover Health Investments reported a net loss of $85.5 million in fiscal 2025, a net profit margin of −4.4%; its operating margin was −4.4%.
What is Clover Health Investments's gross margin?
Clover Health Investments's gross margin was 18.5% in fiscal 2025: for every $100 of revenue, Clover Health Investments kept $18 after the direct cost of its products and services.
How fast is Clover Health Investments growing?
Revenue grew 23.4% a year on average over the last five fiscal years, from $672.9 million to $1.9 billion.
What are Clover Health Investments's earnings per share?
Clover Health Investments earned $-0.07 per diluted share in fiscal 2025, compared with $-0.10 a year earlier.
When will Clover Health Investments report its next earnings?
Clover Health Investments is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Clover Health Investments's fiscal year end?
Clover Health Investments's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.