Clover Health Investments, Corp. (NASDAQ:CLOV) Q2 2024 Earnings Conference Call August 5, 2024 5:00 PM ET

Company Participants

Ryan Schmidt - IR
Andrew Toy - CEO
Peter Kuipers - CFO

Conference Call Participants

Richard Close - Canaccord Genuity Inc.
Jason Cassorla - Citigroup
Whit Mayo - Leerink Partners

Operator

Ladies and gentlemen good afternoon, and welcome to the Clover Health Second Quarter 2024 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the prepared remarks. [Operator Instructions] And as a reminder, today's call is being recorded.

I would now like to turn the call over to Ryan Schmidt, Investor Relations for Clover Health. Please go ahead, Mr. Schmidt.

Ryan Schmidt

Good afternoon, everyone. Joining me on our call today to discuss the company's second quarter 2024 results are Andrew Toy, Clover Health's Chief Executive Officer; and Peter Kuipers, the company's Chief Financial Officer. You can find today's press release and the accompanying supplemental slides in the Investor Events and Presentations section of our website at investors.cloverhealth.com. This webcast is being recorded, and a replay will be available in the Investor Relations section of the Clover Health website.

I'd also like to caution you that we may make forward-looking statements during today's call that are subject to risks and uncertainties, including expectations about future performance. Factors that may cause actual results to differ materially from expectations are detailed in our SEC filings, including in the Risk Factors section of our most recent Annual Report on Form 10-K and other SEC filings. Information about non-GAAP financial measures referenced including a reconciliation of those measures to GAAP measures, can be found in the earnings materials available on our website.

With that, I will now turn the call over to Andrew.

Andrew Toy

Thank you, Ryan, and thanks to everyone joining our call. Today we're very pleased to report another set of strong financial results as well as improved full year guidance, driven by meaningful profitability from our core insurance plan operations. Underlying these strong results is our Assistant Care platform that enables physicians to identify and manage chronic disease earlier. We believe that this focus improves outcomes for our members improve total cost of care and therefore, drive our overall financial momentum. Ultimately, that is our goal.

At Clover, we developed AI and data-driven technology that is differentiated at managing the clinical outcomes and total cost-of-care for people with chronic diseases. We believe our financial results demonstrate that our model is working with physicians in our own MA plan. Next, we intend to bring our approach via our counterpart offering to physicians who serve other plans as well.