Clover Health
https://www.sec.gov/ix?doc=/Archives/edgar/data/1801170/000180117022000015/clov-20211231.htm
Clover Health Investments Corp is a healthcare technology company and Medicare Advantage provider. It uses its proprietary provider-facing technology platform Clover Assistant to collect, structure, and analyze health and behavioral data to improve medical outcomes and lower costs for patients.
Clover Health was brought to public market through a SPAC led by Chamath Palihapitiya. It quickly became a meme stock from retail investors looking to cause a short squeeze due to high short interest. After a compelling report by Hindenburg Research and the expiration of lockups, this thesis ended up not playing out and the company’s price has since declined more than 90% (~76.5% from the original SPAC price).
Revenue: $1.4 B (118.76% YoY Growth)
Gross Margin: -$79.2 mm (-5.38% margin)
Operating Margin: -$637.0 mm (-43.27% margin)
EBITDA: -$635.8 mm (-43.19% margin)
Net Income: -$640.1 mm (-43.48% margin)
Enterprise Value: $685.3 mm
Market Capitalization: $1.1 B
Total Debt: $108.3 mm
Cash: $563.8 mm
TEV/LTM Revenue: 0.38x
TEV/LTM EBITDA: n.a.
Price/LTM Earnings: n.a.
Operating statistics LTM as of 12/31/2021. Market data as of 5/11/2022. 10-K filed as of 2/28/2022.
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