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Clover Health Investments (CLOV) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Clover Health Investments (CLOV) Q3 2026 earnings results →
Q3 2026 Revenue up 53% year over year to $759M · 1¢ of every $1 of revenue kept as net profit · operating margin 0.8%
Clover Health Investments made $759M in Q3 2026 (+53% Y/Y). Operating margin 0.8%, net earnings $6.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $759.3M in Q3 2026, up 53% year over year and up 2% from the previous quarter.
Operating profit was $6.4M, a 0.8% margin (up 5.8 points year over year). Total costs grew 44% against revenue growth of 53%. The fastest-growing cost line was Other operating costs (+45%). Net earnings were $6.4M. The effective tax rate was 0.0%.
Operating cash flow was $70.4M (up 482% year over year), 1094% of net earnings. Non-cash charges added back $8.0M of share-based compensation. Working capital and other items added $55.9M. Capital expenditures of $898K left free cash flow of $69.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $759M | +53% | 0.8% | $6.4M | $70.4M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $743M | +56% | 3.8% | $28.0M | $25.2M |
| Q1 2026 | 10-Q | May 8, 2026 | $749M | +62% | 3.6% | $27.3M | $108M |
| Q4 2025 | 10-K | Feb 27, 2026 | $488M | +45% | -10.1% | −$49.3M | −$68.2M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $497M | +50% | -4.9% | −$24.4M | $12.1M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $478M | +34% | -2.2% | −$10.6M | $5.4M |
| Q1 2025 | 10-Q | May 9, 2025 | $462M | +33% | -0.3% | −$1.3M | −$16.3M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Clover Health Investments
At Clover Health, our vision is to empower every physician with technology to identify, manage, and treat chronic diseases earlier. This results in earlier diagnosis and treatment, earlier disease management and more affordable and accessible care. Our strategy is to improve the care of our Medicare Advantage ("MA") members, develop wide physician networks, and provide technology to help empower physicians. Our proprietary software platform, Clover Assistant (licensed externally as Counterpart Assistant), supports clinical real-time decision making at the point of care by equipping the clinical with data and insights. This helps us execute our strategy by enabling physicians to detect, identify, and manage chronic diseases better than they otherwise could.
In its own words, from its 10-K, filed Feb 27, 2026.
Clover Health Investments against its Hospital & Medical Service Plans peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +53% against the peers' median +6%. Operating margin: 0.8% against the peers' median 1.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CLOV Clover Health Investments | Q3 2026 | $759M | +53% | 0.8% |
| UNH UnitedHealth Group | Q3 2026 | $112.7B | -0.4% | 5.8% |
| CI Cigna | Q3 2026 | $73.7B | +6% | 3.3% |
| ELV Elevance Health | Q3 2026 | $51.4B | +1% | 2.5% |
| CNC Centene | Q3 2026 | $50.6B | +2% | -0.6% |
| HUM Humana | Q3 2026 | $41.2B | +26% | 0.2% |
| MOH Molina Healthcare | Q3 2026 | $11.1B | -3% | 1.0% |
| OSCR Oscar Health | Q3 2026 | $5.1B | +72% | 3.5% |
| ALHC Alignment Healthcare | Q3 2026 | $1.4B | +37% | -0.3% |
Source: Clover Health Investments 10-Q on SEC EDGAR · CIK 1801170 · Hospital & Medical Service Plans
Guidance and outlook
13F: who owns CLOV and who is buying
More on CLOV
- How Clover Health Investments makes money: revenue by segment
- Clover Health Investments next earnings date and what analysts expect
- Clover Health Investments stock forecast, price target and fair value
- Who owns Clover Health Investments stock: holders, funds and Congress trades
- Clover Health Investments guidance and outlook
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results