Clover Health Investments, Corp. · NASDAQ:CLOV
Clover Health Investments — Investor Presentation (November 2024)
27 slides from Clover Health Investments's investor presentation, November 2024
Slide 1: Investor Presentation
Investor Presentation November 2024
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying oral presentation include forward-looking statements, including, without limitation, statements regarding future events and Clover Health Investments, Corp.’s (“Clover Health,” “we,” “our,” or “us”) expectations regarding positive Adjusted EBITDA, Ad
Slide 3: Financial Performance
Financial Performance
Slide 4: Third Quarter 2024 Business Update
Third Quarter 2024 Business Update Meaningfully Improved Profitability Strong Insurance Results Increasing Adjusted EBITDA(1) Industry-leading loss ratios Improved full-year 2024 guidance(1) Continued top-line revenue growth Increasing cash flow from operations Differentiated via Clover Assistant te
Slide 5: Demonstrating Superior Medicare Advantage Performance Amidst Dynamic Industry Backdrop
Demonstrating Superior Medicare Advantage Performance Amidst Dynamic Industry Backdrop Insurance Revenue(1)(2) Insurance Gross Profit(1)(2) Adjusted EBITDA(3) (1)(2) (1) 2024 Guidance is based on guidance provided in the Company’s November 6, 2024 earnings press release. Insurance Gross Profit for 2
Slide 6: Differentiated Approach
Differentiated Approach
Slide 7: Clover Health's Three Pillar Strategy
Clover Health’s Three Pillar Strategy Better Chronic Disease Differentiated Physician Management Care Platform Choice Exclusively focused on Physician enablement Members select doctor of Medicare Advantage technology, powered by AI their choice Can enable value based Clinical outcomes improved Home-
Slide 8: Focused on Usability and Intuitive, Elegant User Interface
Focused on Usability and Intuitive, Elegant User Interface Elegant, easy-to-use software platform Designed by doctors, for doctors EHR integrated, within clinical workflow Empowering physicians to practice medicine using their clinical judgement Robust IP portfolio(1) (1) Including patents for Machi
Slide 9: Having Supported Clinical Decision-Making for Thousands of Practitioners
Having Supported Clinical Decision-Making for Thousands of Practitioners Captures & synthesizes Novel clinical insights data from 100+ sources at point-of-care Enhanced care coordination 100+ AI / ML models powering treatment Generating millions of recommendations clinically oriented and personalize
Slide 10: Asset-Light Care Management Platform Improves Clinical Outcomes & Total Cost of Care
Asset-Light Care Management Platform Improves Clinical Outcomes & Total Cost of Care Clover Assistant Clover Home Care Manages Low-to-High Disease Burden Manages High Disease Burden Clover Health MA Plan: Cloud-Based, AI-Powered Platform In-Home, High-Touch Primary Care Generating clinical insights
Slide 11: Technology-Driven Growth Model
Technology-Driven Growth Model Improved Clinical Decision Making Strong Benefit Offering and and Lower Total Cost of Care 5 1 High-Choice Plan Design + CA Platform Innovation Cadence More Physicians Use Product Strength Drives 4 2 Technology Platform Membership Growth 3 Physicians Manage 11 More Clo
Slide 12: Differentiated, Tech-Centric Model Focused on Improving Clinical Care Outcomes via Software
Differentiated, Tech-Centric Model Focused on Improving Clinical Care Outcomes via Software Clover’s Other Tech-Enabled Traditional MA Plan Approach Approaches Approaches Managed Care Payer; Not a Payer; Managed Care Payer; Structure Medicare Advantage focus Provider, practice, health system partner
Slide 13: Counterpart Health
Counterpart Health
Slide 14: Counterpart Health's Compelling Value Proposition: Bring Clover's Care Model to Other Plans & Providers
Counterpart Health’s Compelling Value Proposition: Bring Clover’s Care Model to Other Plans & Providers For External Payors & Providers For Clover Health Cloud-based, AI-powered technology & support Deploy existing proprietary technology asset to drive platform already built with proven results grow
Slide 15: CA Technology Driving Value Creation
CA Technology Driving Value Creation Proven Clinical Improved Value Based Key Quality Measure Outcome Improvement(1) Care Performance Improvements(2) CA use associated with: Members who had a CA visit are: 1,000+ bps of MCR Differential Earlier diagnosis & treatment of for returning Clover MA member
Slide 16: Looking Ahead
Looking Ahead
Slide 17: Tech-Driven Approach Powering Business Momentum in 2025 and Beyond
Tech-Driven Approach Powering Business Momentum in 2025 and Beyond Solid core business fundamentals powering strong financial results, healthy balance sheet, and improved 2024 guidance(1) Flagship PPO plan rated at 4.0 Stars for Payment Year 2026; fortifying Clover’s already impressive growth moat P
Slide 18: Appendix
Appendix
Slide 19: Well-Rounded Management Team of Technology Experts & Seasoned Managed Care Professionals
Well-Rounded Management Team of Technology Experts & Seasoned Managed Care Professionals Vivek Garipalli Andrew Toy Executive Chairman ______________________________________________________________________________________________ Chief Executive Officer ______________________________________________
Slide 20: Meeting Consumer Preference Positions Clover for Long Term Growth in Medicare Advantage
Meeting Consumer Preference Positions Clover for Long Term Growth in Medicare Advantage National Market Data Confirms that Why is this Important? Consumers Prefer PPO Plans(1) HMO: People who are happy to let an insurance plan select their doctor PPO: People who prefer to select their own doctor (1)
Slide 21: Earlier Diagnosis Leads to Earlier Treatment: Chronic Kidney Disease
Earlier Diagnosis Leads to Earlier Treatment CKD is diagnosed earlier and disease trajectory improves in patients seen by providers using Clover Assistant(1) Example: Chronic Kidney Disease Kidney Function (GFR) Diagnosed CKD Stage 3 CA Patients Diagnosed CKD Stage 3 ~1.5 years Non-CA Patients Time
Slide 22: Earlier Diagnosis Leads to Earlier Treatment: Diabetes
Earlier Diagnosis Leads to Earlier Treatment Patients started on oral diabetic medications Members Newly Diagnosed with Diabetes (1) after Clover Assistant Example: Diabetes raised potential diabetes diagnosis for physician consideration(2) Diabetes Medication Fills Days Since Clover Assistant Visit
Slide 23: Earlier Diabetes Treatment Leads to Better Outcomes
Earlier Diabetes Treatment Leads to: Blood Sugar Indicator Oral Meds Started Non-CA Patients (HbA1c) Better Management of Blood Sugar(1) Oral Meds Started CA Patients Time (Years) Percentage Taking Non-CA Patients Insulin Lower Use of Insulin(1) CA Patients Days Since Oral Meds Started Hypoglycemia
Slide 24: Clover Assistant Correlated with Improved Medication Adherence
Clover Assistant Correlated with Improved Medication Medication fills increased by ~5% on the day of the Clover Assistant visit and remained ~3% higher 90 days post-visit among patients previously non-adherent to Adherence their medications for diabetes, high blood pressure, and high cholesterol(1)
Slide 25: Non-GAAP Financial Measures
Non-GAAP Financial Measures CLOVER HEALTH INVESTMENTS, CORP. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES INSURANCE BENEFITS EXPENSE RATIO, NET (NON-GAAP) RECONCILIATION (in thousands)(1) (1) The table above includes non-GAAP measures. Non-GAAP financial measures are supplemental and should not be
Slide 26: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) CLOVER HEALTH INVESTMENTS, CORP. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ADJUSTED EBITDA (NON-GAAP) RECONCILIATION (in thousands)(1) (1) The table above includes non-GAAP measures. Non-GAAP financial measures are supplemental and should not be considered
Slide 27: About Non-GAAP Financial Measures
About Non-GAAP Financial Measures We use non-GAAP measures in this presentation, including Adjusted EBITDA, Adjusted SG&A, and Insurance BER. These non-GAAP financial measures are provided to enhance the reader’s understanding of Clover Health’s past financial performance and our prospects for the f
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