Filing Flows › Clover Health Investments (CLOV) › Q3 2025
Clover Health Investments (CLOV) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Clover Health Investments (CLOV) reported revenue of $497M for the third quarter 2025 (Q3 2025), +50% from a year earlier and +4% from the quarter before. Operating margin was -4.9%, net loss $24.4M (4.9% of revenue).
Clover Health Investments, Q3 2025: revenue $497M (+50% year over year), operating margin -4.9%, net loss $24.4M, operating cash flow $12.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $497M | +4% | +50% |
| Operating profit | −$24.4M | — | — |
| Net earnings | −$24.4M | — | — |
| Operating cash flow | $12.1M | +124% | -76% |
| Free cash flow | $11.4M | +136% | -77% |
What changed
Revenue was $496.6M in Q3 2025, up 50% year over year and up 4% from the previous quarter.
Operating costs exceeded revenue by $24.4M, an operating margin of -4.9%. The fastest-growing cost line was Other operating costs (+762%). The quarter ended with a net loss of $24.4M, wider than the previous quarter's $10.6M loss.
Operating cash flow was $12.1M (down 76% year over year). Non-cash charges added back $26.1M of share-based compensation. Working capital and other items added $10.4M. Capital expenditures of $692K left free cash flow of $11.4M.
Questions
What was Clover Health Investments' revenue in the third quarter 2025?
Clover Health Investments (CLOV) reported revenue of $497M for the third quarter 2025 (Q3 2025), +50% from a year earlier and +4% from the quarter before.
Was Clover Health Investments profitable in the third quarter 2025?
Operating loss was $24.4M (-4.9% of revenue) and net loss $24.4M.