Clover Health Investments, Corp. · NASDAQ:CLOV
Clover Health Investments — Investor Presentation (May 2025)
29 slides from Clover Health Investments's investor presentation, May 2025
Slide 1: Investor Presentation
Investor Presentation May 2025
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 Adjusted EBITDA, Adjusted Ne
Slide 3: 1Q25 Results: Strong Start to FY25
1Q25 Results: Strong Start to FY25 Medicare Advantage Membership Up 30% YoY Total Revenues: $462 Million Up 33% YoY Adjusted EBITDA: $26 Million Up 279% YoY Adjusted Net Income: $25 Million Up 322% YoY Use of Non-GAAP Measures: Use of non-GAAP (Generally Accepted Accounting Principles) financial met
Slide 4: Our Vision & Differentiated Approach
Our Vision & Differentiated Approach Empower Every Physician with Technology to Identify, Manage & Treat Chronic Diseases Earlier Earlier Diagnosis Earlier Disease Higher Quality Affordable & & Treatment Management Clinical Care Accessible Care 4
Slide 5: Care Platform: Clover Assistant is the Leader in Clinical AI
Care Platform: Clover Assistant is the Leader in Clinical AI Synthesis of 100+ Insights from >100 Clinical Orientation, Data Sources Proprietary Models Dynamic Actions Millions of clinical Robust IP and patent Surfacing relevant clinical documents, collected & portfolio(1) suggestions at time of rec
Slide 6: 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 powered by AI / ML Enhanced care coordination 100+ AI / ML models powering treatment Generating millions of recommendations clinically orien
Slide 7: Clover Assistant Supports Better Clinical Outcomes: Congestive Heart Failure
Non-CA CHF Cohort CA CHF Cohort Clover Assistant Supports Better Clover Assistant PCP relationship Clinical Outcomes associated with better clinical outcomes, including a 18% lower average number of all-cause hospitalizations and 25% (18%) reduction in 30-day readmissions for Example: Congestive Hea
Slide 8: Quality: Clover Leads the Nation on HEDIS Measures
Quality: Clover Leads the Nation on HEDIS Measures(1) Top 10 HEDIS-Scoring Plans Life-Weighted Average HEDIS Raw Score(3) HEDIS Weighted Rank Plan(2) Contract Plan Type Raw Score Clover Health rated 4.94 / 5 Stars on HEDIS Measures for Star Rating Year 2025 (1) (1) Clover Health’s Medicare Advantage
Slide 9: 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 Approach Traditional MA Approaches Clinical, physician enablement, Technology InsurTech, back-office & administrative AI-Powered technology Earlier disease identification & management Delayed / react
Slide 10: Positioned to Succeed
Positioned to Succeed Average Medicare Advantage Membership(1) Average MCR Differential by Cohort Year(2) +30% YoY +29% Robust new member growth via MA switchers & core market focus, coupled with compelling cohort management, establishes foundation for long-term Medicare Advantage success (1) Averag
Slide 11: New Revenue Opportunity: Counterpart Health Brings Clover's Care Model to More Plans & Providers
New Revenue Opportunity: Counterpart Health Brings Clover’s Care Model to More Plans & Providers Health outcomes improved via earlier identification, management, & treatment of disease Complementary offering to growth & profitability beyond Clover’s core MA markets New SaaS & Tech-Enabled Services r
Slide 12: Our Opportunity
Our Opportunity
Slide 13: Our Focus for 2025
Our Focus for 2025 Membership & Revenue Growth Take advantage of MA market opportunity & strong member retention Balance Profitability & Reinvestments Maintain strong Adjusted EBITDA(1) profitability, with strategic investments in growth, Clover Assistant technology & reach, and Home Care services B
Slide 14: Clover's Next Phase: Continued Growth
Clover’s Next Phase: Continued Growth Improved 2025 Guidance(1) 2026 Tailwinds Balancing Growth & Profitability Poised for Accelerated Profitability MA membership +30% YoY(2) Positioned for strong membership growth Insurance Revenue $1.8B - $1.875B 4.0 Star payment year(3) Compounding favorable impa
Slide 15: Our Technology-Driven Approach is Working
Our Technology-Driven Approach is Working Grow Membership & Clover Assistant Usage 1 Reinvest in Deliver Better AI Driven Member Benefits 5 2 Clinical Recommendations Reduce the Improve Health Outcomes 4 3 Total Cost of Care & Quality of Life 15
Slide 16: Appendix
Appendix
Slide 17: 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 18: Full Year 2025 Profitability Drivers: Adjusted EBITDA
Full Year 2025 Profitability Drivers: Adjusted EBITDA(1) Illustrative – Not to Scale FY24 FY25 Adj. EBITDA(1) Adj. EBITDA(1) Results Guidance Loss Ratio Impact from Fixed / Growth / Strong Returning Member Variable SG&A Cohort Economics Optimization via Cost Management Efficiency Program $70M $50M -
Slide 19: 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 20: 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 21: Earlier Diabetes Treatment Leads to Better Outcomes
Earlier Diabetes Treatment Leads to: Blood Sugar Indicator Oral Meds Started Non-CA Patients (HbA1c) Diabetes Diagnosed & Managed ~3 Years Earlier(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
Slide 22: 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 23: Care Platform: Differentiated Home Care at Critical Moments
Care Platform: Differentiated Home Care at Critical Moments Longitudinal, MD-led, primary care in the home for highest acuity population Clover Home Care Cohort has Readmission prevention and Significantly Improved MCR post-acute Care from 2021 to 2024(1) Assessment visits for unknown / emerging ris
Slide 24: A Different Approach to Empowering Accessible & Affordable Healthcare
A Different Approach to Empowering Accessible & Affordable Healthcare Technology-Centric Better Chronic Care Platform Disease Management Better care for chronic diseases. Physician enablement technology, Demonstrated by CA white papers on CHF, powered by AI CKD, Diabetes, and Medication Adherence(1)
Slide 25: Non-GAAP Financial Measures
Non-GAAP Financial Measures CLOVER HEALTH INVESTMENTS, CORP. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ADJUSTED SG&A (NON-GAAP) RECONCILIATION (in thousands)(1) (unaudited) (1) The table above includes non-GAAP measures. Non-GAAP financial measures are supplemental and should not be considered a
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) (unaudited) (1) The table above includes non-GAAP measures. Non-GAAP financial measures are supplemental and should not b
Slide 27: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) CLOVER HEALTH INVESTMENTS, CORP. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ADJUSTED NET INCOME FROM CONTINUING OPERATIONS (NON-GAAP) RECONCILIATION (in thousands)(1) (unaudited) (1) The table above includes non-GAAP measures. Non-GAAP financial measures ar
Slide 28: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) CLOVER HEALTH INVESTMENTS, CORP. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES INSURANCE BENEFITS EXPENSE RATIO (NON-GAAP) RECONCILIATION (in thousands)(1) (unaudited) (1) The table above includes non-GAAP measures. Non-GAAP financial measures are supplemental
Slide 29: About Non-GAAP Financial Measures
About Non-GAAP Financial Measures We use non-GAAP measures in this presentation, including Adjusted EBITDA, Adjusted Net income from continuing operations, Adjusted SG&A, and Insurance BER. These non-GAAP financial measures are provided to enhance the reader’s understanding of Clover Health’s past f
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