Clover Health Investments Corp (CLOV) reported a Q3 2024 GAAP net loss of $9 million, an improvement of $25 million year-over-year, while adjusted EBITDA rose to $19 million from $3 million. The company reaffirmed its full-year insurance revenue guidance between $1.35 billion and $1.375 billion and increased adjusted EBITDA guidance to $55 million to $65 million. Clover's strong performance is attributed to effective medical expense management and the Clover Assistant technology, despite facing market volatility and a final payment of $39 million related to its 2023 ACO Reach participation.
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