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Clover Health Investments cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$69.5M in Q3 2026 · $132M over twelve months

Operating cash flow$70.4M
Capital spending−$898K
Free cash flow+$69.5M
Cash / net income10.9×

Analysis

In Q3 2026, Clover Health Investments generated $70.4M of operating cash flow and spent $898K on capital projects, leaving free cash flow of $69.5M. That is $58.1M more than in Q3 2025 ($11.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $135M; the largest uses were other investing ($39.9M), other financing ($15.4M), capital spending ($3.0M); besides operations, cash came from shares issued ($1.1M); the cash balance rose by $78.0M.

Operating cash flow was $70.4M against net income of $6.4M — 10.9× profit, cash ran ahead of reported earnings. The largest differences: receivables −$22.0M, stock-based pay +$8.0M, other liabilities −$3.5M.

Free cash flow

Clover Health Investments: free cash flow by quarterClover Health Investments: free cash flow by quarter−$86.1MQ4 2024−$16.5MQ1 2025$4.8MQ2 2025$11.4MQ3 2025−$68.7MQ4 2025$107MQ1 2026$24.5MQ2 2026$69.5MQ3 2026
Operating cash flow less capital spending.
Clover Health Investments: operating cash flow against capital spendingClover Health Investments: operating cash flow against capital spendingOperating cash flowCapital spending−$85.8M$315KQ4 2024−$16.3M$185KQ1 2025$5.4M$569KQ2 2025$12.1M$692KQ3 2025−$68.2M$597KQ4 2025$108M$854KQ1 2026$25.2M$682KQ2 2026$70.4M$898KQ3 2026
Latest (Q3 2026): Operating cash flow $70.4M, Capital spending $898K.

Capital allocation, year by year

Clover Health Investments: where the cash came from (up) and went (down), by fiscal yearClover Health Investments: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$282MFY2021: Net borrowing −$30.9MFY2021: Shares issued $284MFY2021: Capital spending −$723KFY2021: Buybacks −$147K$284MFY2021FY2022: Operating cash flow −$204MFY2022: Capital spending −$4.5MFY2022: Acquisitions −$16.2MFY2022FY2023: Operating cash flow −$145MFY2023: Shares issued $1.1MFY2023: Capital spending −$584K$1.1MFY2023FY2024: Operating cash flow $34.8MFY2024: Shares issued $193KFY2024: Capital spending −$1.6MFY2024: Buybacks −$1.8M$35.0MFY2024FY2025: Operating cash flow −$66.9MFY2025: Shares issued $1.1MFY2025: Capital spending −$2.0MFY2025: Buybacks −$18.3M$1.1MFY2025
Over these 5 years operating cash flow totalled −$663M; the largest uses were operating cash flow ($698M) and net borrowing ($30.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$327M
Debtnone
Net cash$327M

Clover Health Investments funds itself: free cash flow was $132M over the last twelve months, with $327M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Clover Health Investments: sources (+) and uses (−) of cash, Q3 2026Clover Health Investments: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$70.4MCash drawn (+) / kept (−)−$69.2MOther investing−$2.0MOther financing$1.7MCapital spending−$898K
Clover Health Investments: sources (+) and uses (−) of cash, TTM to Q3 2026Clover Health Investments: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$135MCash drawn (+) / kept (−)−$78.0MOther investing−$39.9MOther financing−$15.4MCapital spending−$3.0MShares issued$1.1M

From profit to cash

Clover Health Investments: net income to operating cash flow, Q3 2026Clover Health Investments: net income to operating cash flow, Q3 2026Net income$6.4MDepreciation & amortization−$443KStock-based pay$8.0MReceivables−$22.0MPayables−$1.6MPrepaid and other assets$1.3MOther liabilities−$3.5MOperating cash flow$70.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$70.4M−$898K——−$69.2M$69.5M
Q2 2026$25.2M−$682K——−$25.6M$24.5M
Q1 2026$108M−$854K——−$95.0M$107M
Q4 2025−$68.2M−$597K—$541K$112M−$68.7M
Q3 2025$12.1M−$692K−$1K—−$1.4M$11.4M
Q2 2025$5.4M−$569K——−$33.2M$4.8M
Q1 2025−$16.3M−$185K−$18.3M—$39.1M−$16.5M
Q4 2024−$85.8M−$315K—$193K$93.4M−$86.1M

Clover Health Investments: income statement and cash flow

Clover Health Investments, Q3 2026: revenue $759M (+53% year over year), operating margin 0.8%. The chart follows the revenue to costs, profit and cash.

Clover Health Investments: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.