Despite a 160% increase in Q4 2021 revenue compared to the prior-year period, Clover Health Investments (NASDAQ:CLOV) saw its net loss increase 48% to $187.2M.
However, shares are up 28% in after-hours trading.
Revenue for the quarter was $432M. That was a beat of ~$24M.
In 2021, total lives covered increased ~124% to ~130K compared to 2020.
Clover was hit in the quarter by a ~109% increase in salaries and benefits, plus general and administrative expenses to $114.1M.
Adjusted operating expenses also rose to $77.5M from $46.8M in the prior-year period.
Clover (CLOV) ended the year with ~$791.2M in cash.
Leave a Reply