Clover Health(NASDAQ:CLOV) 
Clover Health Investments, Corp. operates as a Medicare Advantage insurer in the United States. The company through its software platform provides preferred provider organization and health maintenance organization health plans for Medicare-eligible consumers. Clover Health Investments, Corp. was fo...
Website: https://www.cloverhealth.com/
Founded: 2014
CEO / Co-Founder: Vivek Garipalli
Sector: Healthcare
Industry: Biotechnology
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues: | |||||||||||||||||||||
premiums earned | 744,189,000 | 485,872,000 | 479,128,000 | 469,826,000 | 456,906,000 | 330,680,000 | 322,579,000 | 349,900,000 | 341,722,000 | 303,070,000 | 301,230,000 | 314,383,000 | 317,086,000 | 270,303,000 | 267,892,000 | 268,505,000 | 278,169,000 | 201,024,000 | 203,657,000 | 195,357,000 | 199,376,000 |
other income | 5,000,000 | 1,835,000 | 17,522,000 | 7,794,000 | 5,425,000 | 6,283,000 | 8,407,000 | 6,360,000 | 5,200,000 | 9,315,000 | 4,798,000 | 5,755,000 | 4,906,000 | 5,932,000 | 3,614,000 | 825,000 | 1,312,000 | 2,393,000 | 859,000 | 742,000 | 949,000 |
total revenues | 749,189,000 | 487,707,000 | 496,650,000 | 477,620,000 | 462,331,000 | 336,963,000 | 330,986,000 | 356,260,000 | 346,922,000 | 510,251,000 | 482,066,000 | 513,628,000 | 527,775,000 | 898,791,000 | 856,817,000 | 846,700,000 | 874,379,000 | 432,036,000 | 427,163,000 | 412,472,000 | 200,325,000 |
yoy | 62.05% | 44.74% | 50.05% | 34.07% | 33.27% | -33.96% | -31.34% | -30.64% | -34.27% | -43.23% | -43.74% | -39.34% | -39.64% | 108.04% | 100.58% | 105.27% | 336.48% | ||||
qoq | 53.61% | -1.80% | 3.98% | 3.31% | 37.21% | 1.81% | -7.09% | 2.69% | -32.01% | 5.85% | -6.14% | -2.68% | -41.28% | 4.90% | 1.19% | -3.17% | 102.39% | 1.14% | 3.56% | 105.90% | |
operating expenses: | |||||||||||||||||||||
net medical claims incurred | 589,648,000 | 413,499,000 | 423,473,000 | 377,992,000 | 353,442,000 | 243,044,000 | 249,774,000 | 248,347,000 | 265,162,000 | 447,985,000 | 418,959,000 | 436,954,000 | 472,490,000 | 893,645,000 | 839,799,000 | 858,786,000 | 861,722,000 | 277,343,750 | 436,422,000 | 458,521,000 | 214,432,000 |
salaries and benefits | 57,063,000 | 56,949,000 | 48,195,000 | 61,309,000 | 59,022,000 | 62,737,000 | 54,995,000 | 55,499,000 | 59,223,000 | 63,946,000 | 60,567,000 | 62,437,000 | 70,207,000 | 69,001,000 | 70,142,000 | 70,491,000 | 69,091,000 | 58,903,000 | 73,364,000 | 62,167,000 | 66,024,000 |
general and administrative expenses | 74,629,000 | 66,158,000 | 48,953,000 | 48,484,000 | 50,675,000 | 52,286,000 | 35,201,000 | 44,424,000 | 44,569,000 | 45,983,000 | 41,747,000 | 42,433,000 | 59,215,000 | 55,348,000 | 47,832,000 | 47,040,000 | 57,697,000 | 55,304,000 | 45,749,000 | 45,628,000 | 38,606,000 |
depreciation and amortization | 515,000 | 420,000 | 406,000 | 394,000 | 466,000 | 344,000 | 339,000 | 330,000 | 318,000 | 674,000 | 557,000 | 999,000 | 279,000 | -841,000 | 616,000 | 586,000 | 826,000 | 848,000 | 120,000 | 118,000 | 160,000 |
total operating expenses | 721,855,000 | 537,026,000 | 521,027,000 | 488,179,000 | 463,605,000 | 358,411,000 | 339,771,000 | 349,073,000 | 369,625,000 | 575,911,000 | 523,535,000 | 542,435,000 | 600,381,000 | 1,005,954,000 | 930,732,000 | 949,246,000 | 961,679,000 | 618,825,000 | 576,416,000 | 594,334,000 | 319,413,000 |
income from operations | 27,334,000 | -65,660,000 | -41,469,000 | -28,807,000 | -72,606,000 | -107,163,000 | -73,915,000 | -102,546,000 | -87,300,000 | -186,789,000 | -149,253,000 | -181,862,000 | -119,088,000 | ||||||||
yoy | -38.73% | -43.90% | -71.91% | -16.83% | -42.63% | -50.48% | -43.61% | -26.69% | |||||||||||||
qoq | 58.34% | 43.95% | -60.32% | -32.25% | 44.98% | -27.92% | 17.46% | -53.26% | 25.15% | -17.93% | 52.71% | ||||||||||
operating margin % | 3.65% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -12.87% | -8.60% | -5.61% | -13.76% | -11.92% | -8.63% | -12.11% | -9.98% | -43.23% | -34.94% | -44.09% | -59.45% |
net income | 27,334,000 | -49,320,000 | -24,377,000 | -10,578,000 | -1,274,000 | -22,092,000 | -9,155,000 | 7,408,000 | -19,170,000 | -70,472,000 | -41,469,000 | -28,814,000 | -72,606,000 | -84,046,000 | -75,308,000 | -104,181,000 | -75,309,000 | -187,201,000 | -34,527,000 | -317,611,000 | -48,417,000 |
yoy | -2245.53% | 123.25% | 166.27% | -242.79% | -93.35% | -68.65% | -77.92% | -125.71% | -73.60% | -16.15% | -44.93% | -72.34% | -3.59% | -55.10% | 118.11% | -67.20% | 55.54% | ||||
qoq | -155.42% | 102.32% | 130.45% | 730.30% | -94.23% | 141.31% | -223.58% | -138.64% | -72.80% | 69.94% | 43.92% | -60.31% | -13.61% | 11.60% | -27.71% | 38.34% | -59.77% | 442.19% | -89.13% | 555.99% | |
net income margin % | 3.65% | -10.11% | -4.91% | -2.21% | -0.28% | -6.56% | -2.77% | 2.08% | -5.53% | -13.81% | -8.60% | -5.61% | -13.76% | -9.35% | -8.79% | -12.30% | -8.61% | -43.33% | -8.08% | -77.00% | -24.17% |
per share data: | |||||||||||||||||||||
basic weighted-average number of class a and class b common shares and common share equivalents outstanding | 522,184,385 | 509,043,210 | 490,180,103 | 487,483,087 | 486,374,644 | ||||||||||||||||
diluted weighted-average number of class a and class b common shares and common share equivalents outstanding | 532,501,448 | 509,043,210 | 490,180,103 | 495,179,955 | 567,451,166 | ||||||||||||||||
basic earnings per share | 0.05 | -0.02 | 0.003 | 0.01 | 0.01 | ||||||||||||||||
diluted earnings per share | 0.05 | -0.02 | 0.003 | 0.01 | 0.01 | ||||||||||||||||
net unrealized gain on available-for-sale investments | -1,200 | 57 | 294 | 251 | 1,510 | -2,436 | 3,111 | 301 | -190 | 2,702 | 1,643 | 316 | 2,343 | -1,095 | |||||||
comprehensive income | 26,134 | -10,327 | 236 | 7,709 | -100,293.75 | -34,724 | -317,541 | ||||||||||||||
restructuring (recoveries) costs | 72,000 | -538,000 | |||||||||||||||||||
loss from continuing operations | -49,319,000 | -24,377,000 | -1,274,000 | -21,448,000 | -8,785,000 | -22,703,000 | |||||||||||||||
change in fair value of warrants | 1,000 | 19,000 | 33,000 | 17,000 | |||||||||||||||||
loss on investment | 467,000 | -2,546,750 | 980,000 | 1,227,000 | |||||||||||||||||
net income from continuing operations | -49,320,000 | -24,377,000 | -10,578,000 | -1,274,000 | -21,481,000 | -8,785,000 | 7,170,000 | -23,170,000 | |||||||||||||
net income from discontinued operations | -611,000 | -370,000 | 238,000 | 4,000,000 | |||||||||||||||||
basic and diluted weighted-average number of class a and class b common shares and common share equivalents outstanding | 511,967,146 | 512,743,521 | 497,056,331 | 490,018,730 | 486,374,644 | 482,176,127 | 480,770,283 | 479,163,752 | 478,805,067 | 476,244,262 | 477,690,204 | 476,061,809 | 473,028,651 | 412,922,424 | |||||||
continuing operations: | |||||||||||||||||||||
basic and diluted loss per share | -0.1 | -0.05 | |||||||||||||||||||
discontinued operations: | |||||||||||||||||||||
basic and diluted earnings per share | |||||||||||||||||||||
comprehensive loss | -49,263 | -24,083 | -24,528 | -6,044 | -19,360 | -67,770 | -39,826 | -28,498 | -70,263 | -82,660 | -77,715 | -105,276 | -80,633 | -48,910 | |||||||
restructuring costs | 473,000 | 353,000 | 2,061,000 | 1,313,000 | 4,750,000 | ||||||||||||||||
income from continuing operations | -10,559,000 | 7,187,000 | |||||||||||||||||||
premium deficiency reserve expense | -683,000 | 392,000 | -11,269,000 | -27,657,000 | -27,657,000 | 61,967,000 | 20,761,000 | 27,900,000 | |||||||||||||
interest expense | 7,000 | 136,000 | 404,000 | 390,000 | 403,000 | 412,000 | 413,000 | 1,229,000 | 1,175,000 | ||||||||||||
basic loss per share | -0.013 | -0.02 | |||||||||||||||||||
diluted loss per share | -0.013 | -0.02 | |||||||||||||||||||
premium deficiency reserve benefit | -5,138,000 | -1,810,000 | -27,657,000 | ||||||||||||||||||
basic and diluted net loss per share | -0.05 | ||||||||||||||||||||
non-insurance revenue | 197,866,000 | 176,038,000 | 193,490,000 | 205,783,000 | 622,556,000 | 585,311,000 | 577,370,000 | 594,898,000 | |||||||||||||
amortization of notes and securities discounts | 3,000 | 9,000 | 18,000 | 13,000 | 8,000 | 13,660,000 | |||||||||||||||
net income per share | -0.14 | -0.09 | -0.06 | -0.15 | -0.17 | -0.16 | -0.22 | -0.16 | -0.44 | -0.08 | -0.78 | -0.13 | |||||||||
weighted-average number of common shares outstanding | |||||||||||||||||||||
gain on investment | -12,394,000 | ||||||||||||||||||||
other expense | 191,000 | ||||||||||||||||||||
change in fair value of warrants payable | -115,152,000 | 134,512,000 | -85,506,000 | ||||||||||||||||||
net unrealized loss on available-for-sale investments | 1,386 | -2,407 | -5,324 | ||||||||||||||||||
direct contracting revenue | 228,619,000 | 222,647,000 | 216,373,000 | ||||||||||||||||||
gain on derivative | |||||||||||||||||||||
basic weighted-average number of common shares and common share equivalents outstanding | 414,572,706 | 408,156,682 | |||||||||||||||||||
diluted weighted-average number of common shares and common share equivalents outstanding | 414,572,706 | 408,156,682 | |||||||||||||||||||
unrealized gain on available-for-sale investments | -1,324 | -197 | 70 | ||||||||||||||||||
basic and diluted weighted-average number of common shares and common share equivalents outstanding | 376,170,545 | ||||||||||||||||||||
unrealized loss on available-for-sale investments | -493 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||
current assets: | |||||||||||||||||||||||
cash and cash equivalents | 173,265,000 | 78,301,000 | 190,055,000 | 188,648,000 | 155,439,000 | 194,543,000 | 116,407,000 | 116,407,000 | 208,255,000 | 48,312,000 | 103,791,000 | 103,791,000 | 103,791,000 | 69,718,000 | 299,968,000 | 299,968,000 | 299,968,000 | 115,894,000 | 202,264,000 | 485,747,000 | 404,507,000 | ||
short-term investments | 4,294,000 | 17,047,000 | 12,218,000 | 12,218,000 | 9,120,000 | 454,000 | 41,457,000 | 41,457,000 | 41,457,000 | 31,725,000 | 293,851,000 | 293,851,000 | 293,851,000 | 234,986,000 | 218,390,000 | 104,361,000 | 279,066,000 | ||||||
investment securities, available-for-sale | 24,190,000 | 23,131,000 | 10,985,000 | 10,856,000 | 4,656,000 | 26,997,000 | 100,702,000 | 100,702,000 | 118,056,000 | 1,507,000 | 189,498,000 | 189,498,000 | 189,498,000 | 18,708,000 | 21,131,000 | 21,131,000 | |||||||
investment securities, held-to-maturity | 1,794,000 | 1,777,000 | 1,800,000 | 1,768,000 | 15,000 | 6,902,000 | 6,902,000 | 6,923,000 | 146,000 | 15,000 | 15,000 | 15,000 | 305,000 | 305,000 | 305,000 | 59,000 | 305,000 | 305,000 | |||||
accrued retrospective premiums | 129,215,000 | 63,875,000 | 45,570,000 | 84,454,000 | 84,727,000 | 41,253,000 | 22,076,000 | 22,076,000 | 70,607,000 | 20,387,000 | 20,387,000 | 20,387,000 | 34,923,000 | 34,923,000 | 34,923,000 | 30,184,000 | 37,219,000 | 54,179,000 | |||||
healthcare receivables | 73,474,000 | 94,866,000 | 57,941,000 | 46,893,000 | 53,529,000 | 51,539,000 | 64,164,000 | 64,164,000 | 83,867,000 | 70,607,000 | 70,607,000 | 70,607,000 | |||||||||||
prepaid expenses | 18,423,000 | 18,209,000 | 12,467,000 | 15,252,000 | 16,589,000 | 13,174,000 | 14,418,000 | 14,418,000 | 16,761,000 | 18,146,000 | 18,146,000 | 18,146,000 | 9,409,000 | 9,409,000 | 9,409,000 | 12,177,000 | 14,535,000 | 465,382 | |||||
other assets, current | 23,366,000 | 10,649,000 | 12,102,000 | 15,068,000 | 16,469,000 | 15,603,000 | 1,404,000 | 1,404,000 | 4,949,000 | 247,000 | 4,043,000 | 4,043,000 | 4,043,000 | 5,704,000 | 18,022,000 | 18,022,000 | 18,022,000 | 38,000 | 5,871,000 | 3,300,000 | 21,260,000 | ||
total current assets | 448,021,000 | 307,855,000 | 330,920,000 | 362,939,000 | 331,409,000 | 343,124,000 | 427,970,000 | 427,970,000 | 552,737,000 | 72,723,000 | 624,997,000 | 624,997,000 | 624,997,000 | 224,981,000 | 752,546,000 | 752,546,000 | 752,546,000 | 430,245,000 | 559,281,000 | 717,714,000 | 809,449,000 | 28,302,906 | 592,127 |
property and equipment | 6,904,000 | 6,385,000 | 5,487,000 | 5,201,000 | 5,026,000 | 5,307,000 | 5,082,000 | 5,082,000 | 5,209,000 | 5,753,000 | 5,753,000 | 5,753,000 | 2,287,000 | 2,287,000 | 2,287,000 | 2,172,000 | 2,101,000 | 2,024,000 | |||||
other intangible assets | 2,990,000 | 2,990,000 | 2,990,000 | 2,990,000 | 2,990,000 | 2,990,000 | 2,990,000 | 2,990,000 | 2,990,000 | ||||||||||||||
other assets, non-current | 25,129,000 | 24,118,000 | 27,196,000 | 15,861,000 | 13,539,000 | 13,259,000 | 10,246,000 | 10,246,000 | 9,785,000 | 15,735,000 | 15,735,000 | 15,735,000 | 10,432,000 | 10,432,000 | 10,432,000 | 13,653,000 | 10,475,000 | 8,641,000 | |||||
total assets | 697,728,000 | 541,011,000 | 559,659,000 | 574,987,000 | 583,717,000 | 580,742,000 | 570,671,000 | 570,671,000 | 671,770,000 | 316,200,000 | 808,620,000 | 808,620,000 | 808,620,000 | 395,069,000 | 950,804,000 | 950,804,000 | 950,804,000 | 616,037,000 | 952,478,000 | 1,215,897,000 | 866,942,000 | 856,420,161 | 828,688,734 |
liabilities and stockholders' equity | |||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||
unpaid claims | 260,417,000 | 153,250,000 | 140,457,000 | 139,660,000 | 151,038,000 | 156,396,000 | 135,737,000 | 135,737,000 | 238,602,000 | 141,947,000 | 141,947,000 | 141,947,000 | 138,604,000 | 138,604,000 | 138,604,000 | 140,210,000 | 132,552,000 | 117,582,000 | |||||
accounts payable and accrued expenses | 39,170,000 | 36,211,000 | 32,938,000 | 33,951,000 | 30,553,000 | 34,564,000 | 37,184,000 | 37,184,000 | 35,408,000 | 683,000 | 32,445,000 | 32,445,000 | 32,445,000 | 865,000 | 28,129,000 | 28,129,000 | 28,129,000 | 1,199,000 | 24,208,000 | 20,844,000 | 18,320,000 | ||
accrued salaries and benefits | 31,230,000 | 16,038,000 | 17,171,000 | 25,184,000 | 30,523,000 | 19,090,000 | 20,951,000 | 20,951,000 | 28,327,000 | 6,598,000 | 23,962,000 | 23,962,000 | 23,962,000 | 6,576,000 | 15,147,000 | 15,147,000 | 15,147,000 | 1,640,000 | 13,436,000 | 10,250,000 | 10,852,000 | ||
other liabilities, current | 5,766,000 | 3,324,000 | 2,881,000 | 3,153,000 | 3,539,000 | 3,466,000 | 1,017,000 | 1,017,000 | 926,000 | 486,000 | 486,000 | 486,000 | 73,000 | 73,000 | 73,000 | 5,000 | 5,000 | 5,000 | |||||
total current liabilities | 336,583,000 | 208,823,000 | 193,447,000 | 201,948,000 | 215,653,000 | 213,516,000 | 261,115,000 | 261,115,000 | 356,389,000 | 7,281,000 | 431,507,000 | 431,507,000 | 431,507,000 | 7,441,000 | 372,624,000 | 372,624,000 | 372,624,000 | 2,839,000 | 230,249,000 | 195,897,000 | 173,025,000 | 33,933,978 | 1,807,280 |
other liabilities, non-current | 21,719,000 | 23,484,000 | 25,280,000 | 28,860,000 | 31,989,000 | 26,083,000 | 20,164,000 | 20,164,000 | 20,190,000 | 16,193,000 | 16,193,000 | 16,193,000 | 14,095,000 | 14,095,000 | 14,095,000 | 40,593,000 | 28,692,000 | 13,267,000 | |||||
total liabilities | 358,302,000 | 232,307,000 | 218,727,000 | 230,808,000 | 247,642,000 | 239,599,000 | 284,277,000 | 284,277,000 | 379,296,000 | 29,806,000 | 451,733,000 | 451,733,000 | 451,733,000 | 47,331,000 | 411,487,000 | 411,487,000 | 411,487,000 | 79,410,000 | 540,188,000 | 901,042,000 | 278,007,000 | 62,913,978 | 30,787,280 |
commitments and contingencies | |||||||||||||||||||||||
stockholders' equity: | |||||||||||||||||||||||
class a common stock, 0.0001 par value... | 43,000 | 43,000 | 42,000 | 42,000 | 41,000 | 41,000 | 40,000 | 40,000 | 41,000 | 40,000 | 37,000 | 37,000 | 37,000 | 37,000 | 34,000 | 34,000 | 34,000 | 34,000 | 28,000 | 15,000 | 15,000 | ||
class b common stock, 0.0001 par value... | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 12,000 | 12,000 | 12,000 | 12,000 | 14,000 | 26,000 | 26,000 | ||
additional paid-in capital | 2,695,144,000 | 2,682,663,000 | 2,656,432,000 | 2,630,021,000 | 2,603,123,000 | 2,576,471,000 | 2,461,238,000 | 2,461,238,000 | 2,490,036,000 | 2,461,238,000 | 2,319,157,000 | 2,319,157,000 | 2,319,157,000 | 2,319,157,000 | 2,154,187,000 | 2,154,187,000 | 2,154,187,000 | 2,153,909,000 | 1,838,639,000 | 1,706,334,000 | 1,662,873,000 | 11,760,012 | 7,364,781 |
accumulated other comprehensive income | -672,000 | 528,000 | 471,000 | 177,000 | -2,370,000 | -610,000 | -413,000 | ||||||||||||||||
accumulated deficit | -2,261,018,000 | -2,288,352,000 | -2,239,032,000 | -2,214,655,000 | -2,204,077,000 | -2,202,803,000 | -2,159,794,000 | -2,159,794,000 | -2,178,964,000 | -2,159,794,000 | -1,946,433,000 | -1,946,433,000 | -1,946,433,000 | -1,955,582,000 | -1,616,738,000 | -1,616,738,000 | -1,616,738,000 | -1,616,738,000 | -1,429,537,000 | -1,395,010,000 | -1,077,399,000 | -6,762,471 | -2,367,200 |
less: treasury stock, at cost; 34,977,670 and 33,412,273 shares held at march 31, 2026 and december 31, 2025, respectively | -94,080,000 | ||||||||||||||||||||||
total stockholders' equity | 339,426,000 | 308,704,000 | 340,932,000 | 344,179,000 | 336,075,000 | 341,143,000 | 286,394,000 | 286,394,000 | 292,474,000 | 286,394,000 | 356,887,000 | 356,887,000 | 356,887,000 | 347,738,000 | 539,317,000 | 539,317,000 | 539,317,000 | 412,290,000 | 314,855,000 | 588,935,000 | |||
total liabilities and stockholders' equity | 697,728,000 | 541,011,000 | 559,659,000 | 574,987,000 | 583,717,000 | 580,742,000 | 570,671,000 | 570,671,000 | 671,770,000 | 808,620,000 | 808,620,000 | 808,620,000 | 950,804,000 | 950,804,000 | 950,804,000 | ||||||||
less: treasury stock, at cost; 33,412,273 and 18,752,947 shares held at december 31, 2025 and december 31, 2024, respectively | -86,187,000 | ||||||||||||||||||||||
current assets | |||||||||||||||||||||||
current liabilities | |||||||||||||||||||||||
stockholders' equity | |||||||||||||||||||||||
less: treasury stock, at cost; 30,264,539 and 18,752,947 shares held at september 30, 2025 and december 31, 2024, respectively | -76,990,000 | ||||||||||||||||||||||
less: treasury stock, at cost; 28,132,383 and 18,752,947 shares held at june 30, 2025 and december 31, 2024, respectively | -71,415,000 | ||||||||||||||||||||||
accumulated other comprehensive loss | -74,000 | -1,584,000 | -2,370,000 | -2,560,000 | -2,370,000 | -9,374,000 | -9,374,000 | -9,374,000 | -9,374,000 | -1,934,000 | -1,934,000 | -1,934,000 | -443,000 | -483,000 | |||||||||
less: treasury stock, at cost; 25,655,588 and 18,752,947 shares held at march 31, 2025 and december 31, 2024, respectively | -62,947,000 | ||||||||||||||||||||||
assets related to discontinued operations | 72,471,000 | 72,471,000 | 10,926,000 | ||||||||||||||||||||
liabilities related to discontinued operations | 60,099,000 | 60,099,000 | 50,622,000 | ||||||||||||||||||||
less: treasury stock, at cost; 18,752,947 and 7,912,750 shares held at december 31, 2024 and december 31, 2023, respectively | -30,991,000 | ||||||||||||||||||||||
other receivables | 16,666,000 | 16,666,000 | 22,533,000 | 23,596,000 | 23,596,000 | 23,596,000 | 14,282,000 | 14,282,000 | 14,282,000 | 21,127,000 | 23,657,000 | 19,211,000 | |||||||||||
surety bonds and deposits | 542,000 | 542,000 | 740,000 | 100,502,000 | 100,502,000 | 100,502,000 | 12,613,000 | 12,613,000 | 12,613,000 | 13,165,000 | 15,578,000 | ||||||||||||
operating lease right-of-use assets | 3,382,000 | 3,382,000 | 3,124,000 | 4,025,000 | 4,025,000 | 4,025,000 | 5,367,000 | 5,367,000 | 5,367,000 | 5,828,000 | 6,356,000 | 7,102,000 | |||||||||||
due to related parties | 1,363,000 | 1,363,000 | 881,000 | 1,566,000 | 1,566,000 | 1,566,000 | 2,320,000 | 2,320,000 | 2,320,000 | ||||||||||||||
deferred revenue | 3,099,000 | 3,099,000 | |||||||||||||||||||||
operating lease liabilities | 1,665,000 | 1,665,000 | 1,623,000 | 1,827,000 | 1,827,000 | 1,827,000 | 3,059,000 | 3,059,000 | 3,059,000 | 3,729,000 | 4,346,000 | 4,841,000 | |||||||||||
long-term operating lease liabilities | 2,998,000 | 2,998,000 | 2,717,000 | 4,033,000 | 4,033,000 | 4,033,000 | 4,830,000 | 4,830,000 | 4,830,000 | 4,818,000 | 4,938,000 | 5,391,000 | |||||||||||
less: treasury stock, at cost; 16,817,010 and 7,912,750 shares held at september 30, 2024 and december 31, 2023, respectively | -12,729,000 | ||||||||||||||||||||||
less: treasury stock, at cost; 14,574,401 and 7,912,750 shares held at june 30, 2024 and december 31, 2023, respectively | -12,729,000 | ||||||||||||||||||||||
less: treasury stock, at cost; 11,613,745 and 7,912,750 shares held at march 31, 2024 and december 31, 2023, respectively | -16,088,000 | ||||||||||||||||||||||
investment securities, available-for sale | 23,564,000 | 117,834,000 | 21,131,000 | 79,268,000 | 21,142,000 | 1,154,000 | 1,001,000 | ||||||||||||||||
intercompany interest receivable | 4,958,000 | 4,958,000 | 4,958,000 | ||||||||||||||||||||
intercompany note receivable | 40,000,000 | 40,000,000 | 40,000,000 | ||||||||||||||||||||
investments in consolidated subsidiaries | 197,012,000 | 106,422,000 | 140,834,000 | ||||||||||||||||||||
liabilities, convertible preferred stock, and stockholders' equity | |||||||||||||||||||||||
intercompany payable | 22,165,000 | 39,530,000 | 76,211,000 | ||||||||||||||||||||
notes payable, net of discount and deferred issuance costs | 360,000 | 360,000 | |||||||||||||||||||||
less: treasury stock, at cost; 7,912,750 and 2,072,752 shares held at december 31, 2023 and 2022, respectively | -12,729,000 | ||||||||||||||||||||||
total liabilities, convertible preferred stock, and stockholders' equity | 316,200,000 | 395,069,000 | |||||||||||||||||||||
non-insurance performance year receivable | |||||||||||||||||||||||
non-insurance receivable | 52,955,000 | 52,955,000 | 52,955,000 | ||||||||||||||||||||
goodwill and other intangible assets | 20,000,000 | 20,000,000 | 20,000,000 | 4,233,000 | 4,233,000 | 4,233,000 | 4,233,000 | 4,233,000 | 4,233,000 | ||||||||||||||
non-insurance performance year obligation, current | 73,844,000 | 73,844,000 | 73,844,000 | 36,891,000 | 36,891,000 | 36,891,000 | |||||||||||||||||
non-insurance payable | 148,191,000 | 148,191,000 | 148,191,000 | 37,773,000 | 37,773,000 | 37,773,000 | |||||||||||||||||
premium deficiency reserve | 7,239,000 | 7,239,000 | 7,239,000 | 110,628,000 | 110,628,000 | 110,628,000 | 48,661,000 | 27,900,000 | |||||||||||||||
less: treasury stock, at cost; 7,096,160 and 2,072,752 shares held at september 30, 2023 and december 31, 2022, respectively | -6,509,000 | ||||||||||||||||||||||
less: treasury stock, at cost; 5,445,714 and 2,072,752 shares held at june 30, 2023 and december 31, 2022, respectively | -6,509,000 | ||||||||||||||||||||||
less: treasury stock, at cost; 5,006,473 and 2,072,752 shares held at march 31, 2023 and december 31, 2022, respectively | -6,509,000 | ||||||||||||||||||||||
other liabilities | 360,000 | ||||||||||||||||||||||
less: treasury stock, at cost; 2,072,752 and 14,730 shares held at december 31, 2022 and 2021, respectively | -6,509,000 | ||||||||||||||||||||||
healthcare receivable | 48,042,000 | 48,042,000 | 48,042,000 | 34,656,000 | 31,858,000 | 30,225,000 | |||||||||||||||||
equity method investment | |||||||||||||||||||||||
notes and securities payable, net of discounts and deferred issuance costs | 19,938,000 | 19,938,000 | 19,938,000 | 19,929,000 | 19,852,000 | 24,285,000 | |||||||||||||||||
less: treasury stock, at cost; 2,041,948 and 14,730 shares held as of september 30, 2022, and december 31, 2021, respectively | -147,000 | ||||||||||||||||||||||
clover stockholders' equity | 535,414,000 | 535,414,000 | 535,414,000 | ||||||||||||||||||||
noncontrolling interest | 3,903,000 | 3,903,000 | 3,903,000 | 3,903,000 | 3,903,000 | ||||||||||||||||||
less: treasury stock, at cost; 1,931,537 and 14,730 shares held as of june 30, 2022, and december 31, 2021, respectively | -147,000 | ||||||||||||||||||||||
less: treasury stock, at cost; 1,893,793 and 14,730 shares held as of march 31, 2022, and december 31, 2021, respectively | -147,000 | ||||||||||||||||||||||
derivative liabilities | |||||||||||||||||||||||
warrants payable | 196,520,000 | 62,039,000 | |||||||||||||||||||||
convertible preferred stock (series seed a, a-1, b, c, and d), 0.0001 par value... | |||||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||||
less: treasury stock, at cost; 14,730 and 0 shares held as of december 31, 2021, and 2020, respectively | -147,000 | ||||||||||||||||||||||
total stockholders’ equity | 536,627,000 | ||||||||||||||||||||||
total liabilities, convertible preferred stock, and stockholders’ equity | 616,037,000 | ||||||||||||||||||||||
direct contracting performance year receivable | 220,738,000 | 436,334,000 | |||||||||||||||||||||
liabilities, convertible preferred stock and stockholders' equity | |||||||||||||||||||||||
liabilities | |||||||||||||||||||||||
current portion of notes and securities payable | 21,425,000 | ||||||||||||||||||||||
direct contracting performance year obligation | 244,599,000 | 455,143,000 | |||||||||||||||||||||
less: treasury stock, at cost; 14,730 and 0 shares held as of september 30, 2021, and december 31, 2020, respectively | -147,000 | ||||||||||||||||||||||
clover stockholders’ equity | 408,387,000 | 310,952,000 | 585,032,000 | ||||||||||||||||||||
total liabilities, convertible preferred stock and stockholders' equity | 952,478,000 | 1,215,897,000 | 866,942,000 | ||||||||||||||||||||
assets: | |||||||||||||||||||||||
liabilities, convertible preferred stock and stockholders' equity: | |||||||||||||||||||||||
non-controlling interest | 3,903,000 | ||||||||||||||||||||||
cash | 28,003,240 | 126,745 | |||||||||||||||||||||
prepaid expenses and other current assets | 299,666 | ||||||||||||||||||||||
deferred offering costs | |||||||||||||||||||||||
marketable securities held in trust account | 828,117,255 | ||||||||||||||||||||||
liabilities and shareholders’ equity | |||||||||||||||||||||||
accrued expenses | 4,934,643 | 1,807,280 | |||||||||||||||||||||
accrued offering costs | |||||||||||||||||||||||
advance from related party | 193,137 | ||||||||||||||||||||||
due to investors | 27,999,990 | ||||||||||||||||||||||
promissory note—related party | 806,208 | ||||||||||||||||||||||
deferred underwriting fee payable | 28,980,000 | 28,980,000 | |||||||||||||||||||||
commitments | |||||||||||||||||||||||
class a ordinary shares subject to possible redemption, 78,839,453 and no shares at redemption value at december 31, 2020 and 2019, respectively | 788,506,176 | ||||||||||||||||||||||
shareholders’ equity | |||||||||||||||||||||||
preference shares, 0.0001 par value... | |||||||||||||||||||||||
class a ordinary shares, 0.0001 par value... | 396 | 352 | |||||||||||||||||||||
class b ordinary shares, 0.0001 par value... | 2,070 | 2,070 | |||||||||||||||||||||
total shareholders’ equity | 5,000,007 | 5,000,003 | |||||||||||||||||||||
total liabilities and shareholders’ equity | 856,420,161 | 828,688,734 | |||||||||||||||||||||
cash and marketable securities held in trust account | 828,096,607 | ||||||||||||||||||||||
class a ordinary shares subject to possible redemption, 79,280,895 and no shares at redemption value at september 30, 2020 and december 31, 2019, respectively | 792,901,451 | ||||||||||||||||||||||
preferred shares, 0.0001 par value... |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||
net income | 27,334,000 | -2,236,439 | ||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||
depreciation and amortization expense | 515,000 | 420,000 | 406,000 | 394,000 | 466,000 | 344,000 | 339,000 | 330,000 | 318,000 | 557,000 | 999,000 | 279,000 | -841,000 | 616,000 | 586,000 | 826,000 | 848,000 | 120,000 | 118,000 | 160,000 | ||
stock-based compensation | 12,271,000 | 24,919,000 | 26,106,000 | 26,195,000 | 26,437,000 | 29,645,000 | 27,988,000 | |||||||||||||||
accretion, net of amortization | -441,000 | -501,000 | -396,000 | -509,000 | -437,000 | -384,000 | -522,000 | -947,000 | -671,000 | 1,482,000 | -954,000 | -1,219,000 | -923,000 | -773,000 | -695,000 | -18,000 | -17,000 | 58,000 | 55,000 | 35,000 | 52,000 | |
change in accrued interest earned | 141,000 | -455,000 | 379,000 | -193,000 | 540,000 | |||||||||||||||||
net realized gains on investment securities | -28,000 | -354,000 | -188,000 | -395,000 | -42,000 | -306,000 | -169,000 | |||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||||
accrued retrospective premiums | -65,340,000 | -18,305,000 | 38,884,000 | 273,000 | -43,474,000 | -20,290,000 | 32,929,000 | 16,715,000 | -48,531,000 | -13,583,000 | 68,122,000 | -49,798,000 | -6,493,000 | 20,874,000 | 22,913,000 | -22,758,000 | -4,739,000 | 7,035,000 | 16,960,000 | -19,350,000 | ||
prepaid expenses | -214,000 | -5,742,000 | 2,785,000 | 1,337,000 | -3,415,000 | -225,000 | 1,568,000 | 2,244,000 | -2,343,000 | 19,000 | 1,653,000 | 1,248,000 | 4,992,000 | 2,450,000 | 1,671,000 | -12,528,000 | 2,768,000 | 2,358,000 | ||||
other assets | -13,730,000 | 4,530,000 | -8,367,000 | -937,000 | -1,147,000 | 5,492,000 | -515,000 | 1,432,000 | -3,557,000 | 1,237,000 | 1,366,000 | -530,000 | 3,391,000 | 18,059,000 | -11,734,000 | -8,961,000 | 1,432,000 | -9,496,000 | -5,679,000 | 8,349,000 | -12,931,000 | |
healthcare receivables | 21,392,000 | -36,925,000 | -11,048,000 | 6,636,000 | -1,990,000 | -14,225,000 | 29,425,000 | 17,128,000 | -19,703,000 | -807,000 | 5,677,000 | 13,664,000 | -11,721,000 | 19,081,000 | -35,788,000 | 5,863,000 | -13,386,000 | -2,798,000 | -1,633,000 | 8,520,000 | ||
unpaid claims | 107,167,000 | 12,793,000 | 797,000 | -11,378,000 | -5,358,000 | -11,014,000 | -33,140,000 | -38,933,000 | 102,383,000 | -3,137,000 | -23,786,000 | -924,000 | 1,576,000 | -19,750,000 | -4,503,000 | 25,266,000 | 714,000 | 7,658,000 | 14,970,000 | 13,606,000 | ||
accounts payable and accrued expenses | 2,959,000 | 3,273,000 | -1,013,000 | 3,398,000 | -4,011,000 | 8,818,000 | -14,695,000 | 5,033,000 | -1,776,000 | -3,033,000 | -4,623,000 | -7,533,000 | 15,007,000 | -1,971,000 | 7,627,000 | 2,657,000 | -678,000 | 3,921,000 | 3,364,000 | 2,524,000 | -4,502,000 | |
accrued salaries and benefits | 15,192,000 | -1,133,000 | -8,013,000 | -5,339,000 | 11,433,000 | -16,360,000 | 2,940,000 | 4,073,000 | 7,376,000 | 4,682,000 | -10,655,000 | 6,344,000 | 4,295,000 | 4,940,000 | 3,106,000 | -3,557,000 | 1,711,000 | 3,186,000 | -602,000 | 6,874,000 | ||
other liabilities | 677,000 | -1,353,000 | -3,852,000 | -3,515,000 | 5,979,000 | -7,940,000 | 6,592,000 | 2,019,000 | -65,000 | -102,000 | -413,000 | 694,000 | 3,473,000 | -16,000 | -95,000 | -894,000 | -26,498,000 | 11,901,000 | 15,425,000 | 151,000 | ||
net cash from operating activities | 107,895,000 | -68,152,000 | 12,103,000 | 5,408,000 | -16,293,000 | -85,833,000 | 49,986,000 | 44,757,000 | 25,935,000 | -195,208,000 | -18,781,000 | 53,173,000 | 79,032,000 | -209,368,000 | 101,655,000 | -39,171,000 | -57,042,000 | -80,176,000 | -45,126,000 | -64,155,000 | -92,869,000 | |
capital expenditures | -854,000 | -597,000 | -692,000 | -569,000 | -185,000 | -315,000 | -399,000 | -397,000 | -445,000 | 0 | -243,000 | -354,000 | -251,000 | -3,877,000 | -259,000 | -173,000 | -158,000 | -238,000 | -195,000 | -191,000 | -99,000 | |
free cash flows | 107,041,000 | -68,749,000 | 11,411,000 | 4,839,000 | -16,478,000 | -86,148,000 | 49,587,000 | 44,360,000 | 25,490,000 | -195,208,000 | -19,024,000 | 52,819,000 | 78,781,000 | -213,245,000 | 101,396,000 | -39,344,000 | -57,200,000 | -80,414,000 | -45,321,000 | -64,346,000 | -92,968,000 | |
cash flows from investing activities: | ||||||||||||||||||||||
purchases of short-term investments, available-for-sale, and held-to-maturity securities | -40,915,000 | -106,106,000 | -39,127,000 | -26,695,000 | -33,169,000 | -47,894,000 | -101,677,000 | -27,565,000 | -24,105,000 | -68,203,000 | -6,263,000 | -67,893,000 | -92,548,000 | -106,959,000 | -56,810,000 | -113,079,000 | ||||||
proceeds from sales of short-term investments and available-for-sale securities | 33,838,000 | 71,456,000 | 34,394,000 | 62,830,000 | 16,483,000 | 35,869,000 | -29,873,000 | 0 | 45,435,000 | 15,001,000 | 3,638,000 | 3,829,000 | 0 | 89,997,000 | ||||||||
proceeds from maturities of short-term investments and available-for-sale securities | 2,863,000 | 252,000 | 0 | 0 | 25,801,000 | 150,000,000 | 64,401,000 | 50,000,000 | ||||||||||||||
purchases of property and equipment | -854,000 | -597,000 | -692,000 | -569,000 | -185,000 | -315,000 | -399,000 | -397,000 | -445,000 | -243,000 | -354,000 | -251,000 | -3,877,000 | -259,000 | -173,000 | -158,000 | -238,000 | -195,000 | -191,000 | -99,000 | ||
net cash from investing activities | -5,068,000 | -34,995,000 | -5,425,000 | 35,566,000 | 8,930,000 | -1,439,000 | -12,135,000 | 4,954,000 | 9,185,000 | 9,097,000 | -20,321,000 | 66,491,000 | 10,181,000 | 12,656,000 | -43,389,000 | 89,353,000 | 36,513,000 | -106,491,000 | -242,345,000 | 170,865,000 | -257,476,000 | |
cash flows from financing activities: | ||||||||||||||||||||||
issuance of common stock, net of early exercise liability | 30,000 | 50,000 | 305,000 | 148,000 | 215,000 | 466,000 | 220,000 | 1,000 | 31,000 | 270,000 | 848,000 | 98,000 | 408,000 | 563,000 | 331,000 | 597,000 | 3,830,000 | 435,000 | 1,282,000 | |||
cash paid for shares withheld related to stock-based compensation | -7,893,000 | -9,198,000 | -5,575,000 | |||||||||||||||||||
repurchases of common stock | 0 | -1,000 | 0 | -18,297,000 | 0 | 0 | ||||||||||||||||
net cash from financing activities | -7,863,000 | -8,607,000 | -5,271,000 | -7,765,000 | -31,741,000 | -6,141,000 | -4,666,000 | -3,195,000 | -3,359,000 | -826,000 | -1,963,000 | -147,000 | -2,134,000 | 56,000 | 132,000 | 458,000 | -5,608,000 | 284,371,000 | 3,988,000 | -25,470,000 | 662,504,000 | |
net increase in cash and cash equivalents | 94,964,000 | -111,754,000 | 1,407,000 | 33,209,000 | -39,104,000 | 58,398,000 | 50,640,000 | -26,137,000 | 97,704,000 | -283,483,000 | 81,240,000 | 312,159,000 | ||||||||||
cash and cash equivalents, beginning of period | 78,301,000 | 0 | 0 | 0 | 194,543,000 | 0 | 0 | 299,968,000 | 0 | 0 | 92,348,000 | |||||||||||
cash and cash equivalents, end of period | 173,265,000 | -111,754,000 | 1,407,000 | 33,209,000 | 155,439,000 | 58,398,000 | 50,640,000 | 273,831,000 | -283,483,000 | 81,240,000 | 404,507,000 | |||||||||||
net loss | -49,320,000 | -24,377,000 | -10,578,000 | -1,274,000 | -22,092,000 | -9,155,000 | 7,408,000 | -19,170,000 | -70,472,000 | -41,469,000 | -28,814,000 | -72,606,000 | -84,046,000 | -75,308,000 | -104,181,000 | -75,309,000 | -187,201,000 | -34,527,000 | -317,611,000 | -48,417,000 | ||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||||||
change in fair value of warrants and amortization of warrants | 1,000 | 0 | 33,000 | 0 | ||||||||||||||||||
loss on investment | 0 | 0 | ||||||||||||||||||||
impairment of goodwill and other intangible assets | ||||||||||||||||||||||
premium deficiency reserve | 392,000 | -5,138,000 | -1,810,000 | -11,269,000 | -27,657,000 | -27,657,000 | -27,657,000 | 61,967,000 | 20,761,000 | |||||||||||||
net cash from operating activities from continuing operations | -68,152,000 | 12,103,000 | 5,408,000 | -16,293,000 | -47,089,000 | 49,842,000 | ||||||||||||||||
net cash from operating activities from discontinued operations | -38,744,000 | 144,000 | ||||||||||||||||||||
issuance of common stock under employee stock purchase plan, net of stock issuance costs | 541,000 | 0 | ||||||||||||||||||||
reconciliation of cash and cash equivalents and restricted cash | ||||||||||||||||||||||
cash and cash equivalents | -93,413,000 | 33,185,000 | 46,516,000 | 208,255,000 | -11,065,000 | 119,517,000 | 190,562,000 | |||||||||||||||
restricted cash | -30,000,000 | 0 | 82,730,000 | |||||||||||||||||||
total cash, cash equivalents, and restricted cash | -41,065,000 | 119,517,000 | 273,292,000 | |||||||||||||||||||
includes all applicable amounts for both continuing and discontinued operations | ||||||||||||||||||||||
treasury stock acquired | -13,659,000 | -6,800,000 | -4,886,000 | -1,446,000 | -3,359,000 | -1,994,000 | -417,000 | -2,982,000 | -42,000 | -276,000 | -105,000 | -5,939,000 | 0 | |||||||||
amortization of notes and securities discounts and debt issuance costs | 3,000 | 9,000 | 0 | |||||||||||||||||||
accrued interest earned | -217,000 | 109,000 | -310,000 | -153,000 | ||||||||||||||||||
gain on extinguishment of note payable | ||||||||||||||||||||||
acquisition of business, net of cash acquired | ||||||||||||||||||||||
acquisition of clover therapeutics series a preferred shares | -250,000 | |||||||||||||||||||||
supplemental disclosure of non-cash investing and financing activities | ||||||||||||||||||||||
activities from seek dissolution | ||||||||||||||||||||||
right-of-use assets obtained in exchange for lease liabilities | 0 | -6,000 | 648,000 | 494,000 | 378,000 | 103,000 | 101,000 | |||||||||||||||
recognition of equity method investments and preferred stock | 0 | 0 | 8,644,000 | |||||||||||||||||||
derecognition of non-controlling interest | ||||||||||||||||||||||
conversion of clover therapeutics convertible note to preferred stock | 250,000 | |||||||||||||||||||||
includes all applicable amounts for both continuing and discontinued operations. | ||||||||||||||||||||||
other receivables | 6,269,000 | 1,302,000 | -5,867,000 | 1,876,000 | 7,655,000 | -695,000 | -185,000 | -8,600,000 | -754,000 | 551,000 | 6,845,000 | 2,530,000 | -4,446,000 | -7,843,000 | ||||||||
surety bonds and deposits | -198,000 | 1,120,000 | -1,000,000 | 20,481,000 | -8,193,000 | 2,912,000 | 13,000 | -2,156,000 | 552,000 | 2,413,000 | ||||||||||||
operating lease right-of-use assets | 273,000 | 266,000 | 258,000 | 248,000 | 241,000 | -84,000 | 234,000 | 237,000 | 498,000 | 1,015,000 | 955,000 | 916,000 | 839,000 | 881,000 | ||||||||
deferred revenue | 4,000 | 13,000 | -3,099,000 | -10,242,000 | 5,974,000 | 107,563,000 | ||||||||||||||||
operating lease liabilities | -344,000 | -330,000 | -323,000 | -392,000 | -418,000 | -90,000 | -407,000 | -400,000 | -685,000 | -1,179,000 | -1,152,000 | -1,124,000 | -1,042,000 | -1,013,000 | ||||||||
proceeds from maturities of short-term investments, available-for-sale, and held-to-maturity securities | 42,137,000 | 32,916,000 | 33,735,000 | 48,125,000 | 27,673,000 | 63,324,000 | 121,643,000 | 60,000,000 | ||||||||||||||
net increase in cash, cash equivalents, and restricted cash for discontinued and continuing operations | 33,185,000 | 46,516,000 | 31,761,000 | |||||||||||||||||||
cash, cash equivalents, and restricted cash, beginning of period for discontinued and continuing operations | 0 | 0 | 176,494,000 | |||||||||||||||||||
cash, cash equivalents, and restricted cash, end of period for discontinued and continuing operations | 33,185,000 | 46,516,000 | 208,255,000 | |||||||||||||||||||
reconciliation of cash and cash equivalents and restricted cash for discontinued and continuing operations | ||||||||||||||||||||||
total cash, cash equivalents, and restricted cash for discontinued and continuing operations | 33,185,000 | 46,516,000 | 208,255,000 | |||||||||||||||||||
supplemental disclosure of non-cash activities | ||||||||||||||||||||||
performance year receivable | 191,835,000 | 175,381,000 | -552,620,000 | -598,640,000 | 29,477,000 | -16,738,000 | 215,596,000 | |||||||||||||||
performance year obligation | 4,837,000 | 3,741,000 | -13,407,000 | 3,896,000 | 1,743,406,000 | -207,708,000 | -210,544,000 | |||||||||||||||
stock-based compensation expense | 28,798,000 | 33,070,000 | 36,108,000 | 38,617,000 | 39,094,000 | 42,644,000 | 41,927,000 | 40,640,000 | 31,181,000 | 46,803,000 | 43,026,000 | 42,713,000 | ||||||||||
net unrealized gains on investment securities | -190,000 | |||||||||||||||||||||
gain on investment | 467,000 | 970,000 | 980,000 | 1,227,000 | -12,394,000 | |||||||||||||||||
discontinued operations | -8,019,000 | |||||||||||||||||||||
amortization of notes and securities discount and debt issuance costs | ||||||||||||||||||||||
intercompany stock-based compensation expense | ||||||||||||||||||||||
net realized losses on investment securities | 4,341,000 | -1,000 | 249,000 | 2,000 | -12,000 | 75,000 | ||||||||||||||||
intercompany accrued salaries and benefits | ||||||||||||||||||||||
intercompany payable | ||||||||||||||||||||||
purchases of short-term investments and available-for-sale securities | -170,654,000 | -382,147,000 | ||||||||||||||||||||
proceeds from maturities of short-term investments available-for-sale securities | ||||||||||||||||||||||
investments in consolidated subsidiaries | ||||||||||||||||||||||
payment of notes payable principal | 0 | 0 | -25,905,000 | -5,020,000 | ||||||||||||||||||
proceeds from reverse recapitalization, net of transaction costs | -1,000 | 0 | ||||||||||||||||||||
proceeds received for the exercise of public and private warrants | 0 | |||||||||||||||||||||
issuance of common stock, net of stock issuance costs | ||||||||||||||||||||||
payment for the redemptions of public warrants | 0 | |||||||||||||||||||||
purchase of treasury stock | ||||||||||||||||||||||
cash and cash equivalents, beginning of year | ||||||||||||||||||||||
cash and cash equivalents, end of year | ||||||||||||||||||||||
supplemental cash flow disclosures | ||||||||||||||||||||||
cash paid during the period for interest | 865,000 | 812,000 | ||||||||||||||||||||
conversion of preferred stock to common stock | 0 | 0 | 0 | 447,747,000 | ||||||||||||||||||
issuance of common stock related to convertible debt | 0 | 0 | 0 | 16,059,000 | ||||||||||||||||||
capital contribution for extinguishment of debt | 0 | 0 | 0 | 126,795,000 | ||||||||||||||||||
issuance of common stock related to warrants exercised | 0 | 0 | 0 | 97,782,000 | ||||||||||||||||||
acquisition of public and private warrants | 0 | 0 | 0 | 147,582,000 | ||||||||||||||||||
issuance of common stock related to the exercise of public and private warrants | 0 | |||||||||||||||||||||
non-insurance receivable | -2,576,000 | -8,027,000 | -670,000 | |||||||||||||||||||
non-insurance payable | 10,938,000 | 10,555,000 | 12,751,000 | 1,059,000 | 26,767,000 | 39,362,000 | 43,230,000 | |||||||||||||||
acquisition of character biosciences, inc. series a preferred shares | 0 | 0 | ||||||||||||||||||||
net increase in cash, cash equivalents, and restricted cash | -41,065,000 | 119,517,000 | 87,079,000 | |||||||||||||||||||
cash, cash equivalents, and restricted cash, beginning of period | 0 | 0 | 186,213,000 | |||||||||||||||||||
cash, cash equivalents, and restricted cash, end of period | -41,065,000 | 119,517,000 | 273,292,000 | |||||||||||||||||||
derecognition of noncontrolling interest | 0 | 0 | 3,903,000 | |||||||||||||||||||
conversion of character biosciences, inc. convertible note to preferred stock | 0 | |||||||||||||||||||||
paid-in-kind interest | ||||||||||||||||||||||
change in derivative liabilities | ||||||||||||||||||||||
reinsurance recoverable | ||||||||||||||||||||||
deferred rent | ||||||||||||||||||||||
proceeds from issuance of convertible notes | ||||||||||||||||||||||
deferred financing costs | ||||||||||||||||||||||
buyback and subsequent cancellation of common shares | ||||||||||||||||||||||
acquisition of noncontrolling interest | ||||||||||||||||||||||
cash, cash equivalents, and restricted cash , end of period | ||||||||||||||||||||||
change in fair value of warrants payable and amortization of warrants | 0 | |||||||||||||||||||||
loss on disposal of property and equipment | ||||||||||||||||||||||
net realized losses on available-for-sale securities | ||||||||||||||||||||||
asset impairment charges | ||||||||||||||||||||||
reinsurance premium payable | ||||||||||||||||||||||
direct contracting payable | ||||||||||||||||||||||
proceeds from maturities of held-to-maturity securities | ||||||||||||||||||||||
cash paid during the year for interest | ||||||||||||||||||||||
cash paid during the year for health insurance industry fee | ||||||||||||||||||||||
fair value of warrants issued in connection with notes payable | ||||||||||||||||||||||
settlement of bridge loan in connection with convertible notes | ||||||||||||||||||||||
net realized gains on available-for-sale securities | ||||||||||||||||||||||
amortization of notes and securities discounts | 3,000 | 13,654,000 | ||||||||||||||||||||
change in fair value of warrants payable | 134,480,000 | -85,543,000 | ||||||||||||||||||||
amortization of warrants | 31,000 | 38,000 | ||||||||||||||||||||
amortization of debt issuance costs | 5,000 | 6,000 | ||||||||||||||||||||
paid in kind interest | ||||||||||||||||||||||
purchases of available-for-sale securities | -274,909,000 | |||||||||||||||||||||
proceeds from sales of available-for-sale securities | 17,267,000 | |||||||||||||||||||||
proceeds from maturities of available-for-sale securities | 265,000 | |||||||||||||||||||||
proceeds from reverse capitalization, net of transaction costs | 666,242,000 | |||||||||||||||||||||
less: income attributable to ordinary shares subject to possible redemption | 30,709 | |||||||||||||||||||||
adjusted net income | -2,205,730 | |||||||||||||||||||||
weighted-average shares outstanding, basic and diluted | 1,587,623 | |||||||||||||||||||||
basic and diluted net income per ordinary share | -0.09 |