Clover Health Investments Corp (NAS:CLOV)
$ 3 -0.12 (-3.85%) Market Cap: 1.56 Bil Enterprise Value: 1.26 Bil PE Ratio: 0 PB Ratio: 4.56 GF Score: 35/100
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Clover Health Investments Corp at Credit Suisse Healthcare Conference Transcript

Nov 10, 2022 / 05:10PM GMT
Release Date Price: $1.4 (+13.82%)
Unidentified Analyst

Thanks, everyone, for coming today, the last at Credit Suisse Healthcare Conference. With us today is Clover Health. And we have Vivek Garipalli, the current CEO, also outgoing CEO, as Andrew Toy takes over. So let's kick it off.

Questions & Answers

Unidentified Analyst

So I guess, you reported 3Q results if you just want to give a quick summary of how you did in the quarter and kind of your viewpoint into -- for the rest of the year?

Vivek Garipalli
Clover Health Investments, Corp. - Co-Founder, CEO & Chairman of the Board of Directors

Yes. I think really pleased with our quarter and continued progress. A big step-wise improvement on MCR. I think we're about 86.3% MCR for Q3 and year-to-date, 91.7%. And we lowered our full year guidance to 93%, 94%. So huge stepwise improvement on just gross margin in general for our MA business. And then on the noninsurance side, MCR definitely higher than we want it to be, but we talked through some strategies longer term on how to reduce that.

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