Reports Q1 revenue $346.92M, consensus $321.23M. The company said, “First, Clover was profitable on an Adjusted EBITDA basis for the first quarter, and we have high confidence in achieving full year 2024 Adjusted EBITDA profitability. Second, we have grown revenues in our Insurance business by 8% year-over-year. Based on these results, we are delighted to improve our full-year 2024 guidance. In addition, we are pleased to announce that our Board of Directors has authorized a share repurchase program of up to $20 million dollars of the Company’s Class A Common Stock over the next two years.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CLOV:
- Clover Health Announces Inducement Grant under Nasdaq Listing Rule 5635(c)(4)
- Clover Health to Report First Quarter 2024 Financial Results on May 7, 2024
- Clover Health Appoints Peter Kuipers as New CFO
- Clover Health appoints Peter Kuipers as CFO
- Clover Health Appoints Healthcare Technology Veteran Peter Kuipers as Chief Financial Officer