Risk Factors Update Summary
- Net losses decreased from $338 million in 2022 to $213 million in 2023.
- Accumulated deficits decreased from approximately $1.6 billion to $946.7 million at December 31, 2023.
- Non-Insurance revenue for the years ended December 31, 2023, and 2022 decreased from $2,380.1 million to $773.2 million.
- Charges related to the exit from the ACO REACH Program are estimated at approximately $8 million to $10 million.
- The number of Lives under MA plans decreased from 164,887 in 2022 to 87,060 in 2023.
- The number of Lives under Clover Management may increase, leading to higher expenses and compliance risks.
- The company's Class A common stock faced volatility, with the bid price dropping below $1.00 multiple times.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1801170&owner=exclude
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