Clover Health announced that its Medicare Advantage PPO membership grew 53% year‑over‑year to 153,000 members for the 2026 plan year, and the company expects to record its first full‑year GAAP net income in 2026.
The jump in membership represents a leap from roughly 100,000 members in 2025, driven by strong enrollment in core markets, high retention rates, a wide‑network PPO strategy, the Clover Assistant clinical platform, and expanded home‑care services. The company’s focus on high‑choice plans and technology‑enabled care has attracted new members while keeping churn low.
Management said the path to profitability is anchored by improving cohort economics, SG&A leverage, a favorable 2026 CMS rate update, and the impact of a 4.0‑star rating on payment levels. These factors are expected to lift margins as newer cohorts mature and the company scales its technology and care‑delivery capabilities.
The company still faces headwinds, including historically negative operating margins, insider selling activity, and a reliance on regulatory updates for revenue growth. Competition in the Medicare Advantage space remains intense, and the company must continue to manage costs while expanding its member base.
CEO Andrew Toy said, “This year’s AEP performance shows what happens when robust plan benefits, Clover Assistant‑enabled clinical performance, and a deepening market presence in local communities come together.” He added that the company is “entering 2026 on a strong financial trajectory” and that the growth strategy will “create compounding earnings and margin expansion over time.”
Investors and analysts noted the strong membership growth and the first‑time profitability outlook as key drivers of the positive market reaction.
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