CLOVCLOVER HEALTH INVESTMENTS, CORP. /DE
Hospital & Medical Service Plans
- Revenue
- $1.9B
- 40% YoY
- Operating margin
- -4.4%
- 33% YoY
- EBITDA
- −$84M
- 89% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$73M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear5% of revenueOver 10% of revenue
- Payouts exceed cash flowClear-27% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear0% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.5B | $1.1B | $1.3B | $1.4B | $1.9B | 40% |
| Operating income | −$637M | −$287M | −$205M | −$46M | −$86M | 87% |
| Net income | −$588M | −$339M | −$213M | −$43M | −$86M | 99% |
| Operating cash flow | −$282M | −$204M | −$145M | $35M | −$67M | 292% |
| Capex | $723K | $4M | $584K | $2M | $2M | 31% |
| Stock-based comp | $164M | $164M | $141M | $114M | $104M | 9.3% |
| Buybacks | $147K | $0 | $0 | $2M | $18M | 933% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $4M · 16
- Net
- −$4M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $1M | −$3M | 15 | 96 |
| FY2024 | $9M | $24M | 20 | 78 |
| FY2023 | $10M | $11M | 6 | 79 |
| FY2022 | $0 | −$39M | 6 | 74 |
| FY2021 | $390M | $62M | 23 | 93 |