Clover Health swings to GAAP net income of $28 million in 2Q26; revenue rises 56% to $743 million

Clover Health Investments posted 2Q26 GAAP net income of $28 million, returning to profit; adjusted EBITDA (non-GAAP) rose to $41 million, up 139% year over year.

Revenue climbed 56% from a year earlier to $743 million; Medicare Advantage membership rose 48% to 157,309 members.

Insurance benefits expense ratio was 87.6%; adjusted SG&A as a share of revenue improved 220 basis points to 15%.

Management flagged medical cost trends better than expected; it raised full-year 2026 guidance for GAAP net income to $20 million-$35 million.

Full-year outlook also calls for revenue of $2.92 billion-$3.00 billion; average Medicare Advantage membership of 156,000-158,000.