Filing Flows › Clover Health Investments (CLOV) › Q4 2025
Clover Health Investments (CLOV) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Clover Health Investments (CLOV) reported revenue of $488M for the fourth quarter 2025 (Q4 2025), +45% from a year earlier and -2% from the quarter before. Operating margin was -10.1%, net loss $49.3M (10.1% of revenue).
Clover Health Investments, Q4 2025: revenue $488M (+45% year over year), operating margin -10.1%, net loss $49.3M, operating cash flow −$68.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $488M | -2% | +45% |
| Operating profit | −$49.3M | — | — |
| Net earnings | −$49.3M | — | — |
| Operating cash flow | −$68.2M | -663% | — |
What changed
Revenue was $487.7M in Q4 2025, up 45% year over year and down 2% from the previous quarter.
Operating costs exceeded revenue by $49.3M, an operating margin of -10.1%. Total costs grew 50% against revenue growth of 45%. The fastest-growing cost line was Other operating costs (+54%). The quarter ended with a net loss of $49.3M, wider than the previous quarter's $24.4M loss.
Operating cash flow was −$68.2M. Non-cash charges added back $24.9M of share-based compensation. Working capital and other items used $43.8M. Capital expenditures of $597K exceeded it, leaving free cash flow of −$68.7M.
Questions
What was Clover Health Investments' revenue in the fourth quarter 2025?
Clover Health Investments (CLOV) reported revenue of $488M for the fourth quarter 2025 (Q4 2025), +45% from a year earlier and -2% from the quarter before.
Was Clover Health Investments profitable in the fourth quarter 2025?
Operating loss was $49.3M (-10.1% of revenue) and net loss $49.3M.