Clover Health SPAC Presentation Deck
Continued Growth And Path To Profitability
Gross Premium Revenue ($ in mm)
NA
$664
2020F
$872
2021E
$1,214
2022€
$1,717
3023E
82.9%
2020F
Consolidated MCR (%)(¹)
89.3%
2021E
85.7%
2022E
84.0%
2003E
Adjusted EBITDA Margin (%) (2)
[6.4%)
2020E
(9.4%)
2021E
2022E
2023E
(1) MCR, or Medical Care Ratio, is defined as total net medical claim expense incurred divided by premiums earned, in each case on a grass or net basis, as the case may be, in a given period.
(2) Adjusted
EBITDA is a non-GAAP financial measure defined by us as net loss before interest expense and amortization of notes and securities discount, provision for income taxes, depreciation and
amortization expense, change in fair value of warrants, loss on derivative, restructuring cost, stock-based compensation expense and health insurance industry fee: Adjusted EBITDA Margin is a non-GAAP 35
financial measure defined by us as Adjusted EBITDA divided by premiums earned, gross. See reconciliation in Appendix.View entire presentation