Clover Health releases transcript of Q2 2026 earnings call
CLOV•Q2 2026 earnings call transcript released
Clover Health held its Q2 2026 earnings call with CEO Andrew Toy, Interim CFO Clay Thornton, and IR head Ryan Schmidt.
- Q2 results: Medicare Advantage membership up 48% to 157,000; total revenue $743 million; adjusted EBITDA $41 million; GAAP net income $28 million.
- Raised FY2026 outlook: revenue $2.92-$3 billion; adjusted EBITDA $70-$85 million; GAAP net income $20-$35 million; MA membership 156,000-158,000.
- CMS recalculation moved all MA members into 4.5-Star plans for payment year 2027; management expects added bid flexibility, not a change in core earnings drivers.
- Management highlighted cohort maturation under Clover Assistant as the key 2027 driver; cited about $70 PMPM gross profit lift from Year 1 to Year 2.
