Clover Health Investments Corp. reported its first quarter 2025 earnings, revealing a net loss of $1 million on a GAAP basis, contrasting with a reported $26 million in Adjusted EBITDA profit. This discrepancy is attributed primarily to non-cash items such as stock-based compensation and seasonal fluctuations. Despite the GAAP net loss, the company emphasized its profitability when measured by Adjusted EBITDA and positive operating cash flow. Clover Health noted that its Adjusted EBITDA closely aligns with its Adjusted Net Income due to the absence of debt, taxes, or significant depreciating assets. The company has guided for continued profitability in 2025, with expectations of strong cash flow, and highlighted its ~30% membership growth in 2025 as part of its strategic goals. The company remains focused on transparency and accessibility with its shareholders to maintain ongoing dialogue and address any concerns or questions.
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