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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 103,791 $ 299,968
Short-term investments 41,457 293,851
Investment securities, available-for-sale (Amortized cost: 2022: $193,300; 2021: $21,142) 189,498 21,131
Investment securities, held-to-maturity (Fair value: 2022: $15; 2021: $307) 15 305
Accrued retrospective premiums 20,387 34,923
Other receivables 23,596 14,282
Healthcare receivables 70,607 48,042
Non-Insurance receivable 52,955 12,170
Surety bonds and deposits 100,502 10,656
Prepaid expenses 18,146 14,693
Other assets, current 4,043 2,525
Total current assets 624,997 752,546
Investment securities, available-for-sale (Amortized cost: 2022: $142,940; 2021: $177,527) 137,368 175,604
Investment securities, held-to-maturity (Fair value: 2022: $636; 2021: $364) 742 335
Property and equipment, net 5,753 2,287
Operating lease right-of-use assets 4,025 5,367
Goodwill and other intangible assets 20,000 4,233
Other assets, non-current 15,735 10,432
Total assets 808,620 950,804
Current liabilities    
Unpaid claims 141,947 138,604
Due to related parties, net 1,566 2,320
Non-Insurance performance year obligation, current 73,844 36,891
Non-Insurance payable 148,191 37,773
Accounts payable and accrued expenses 32,445 28,129
Accrued salaries and benefits 23,962 15,147
Operating lease liabilities 1,827 3,059
Premium deficiency reserve 16,388 110,628
Other liabilities, current 486 73
Total current liabilities 440,656 372,624
Notes and securities payable, net of discounts and deferred issuance costs 0 19,938
Long-term operating lease liabilities 4,033 4,830
Other liabilities, non-current 16,193 14,095
Total liabilities 460,882 411,487
Commitments and Contingencies (Note 21)
Stockholders' equity    
Additional paid-in capital 2,319,157 2,154,187
Accumulated other comprehensive loss (9,374) (1,934)
Accumulated deficit (1,955,582) (1,616,738)
Less: Treasury stock, at cost; 2,072,752 and 14,730 shares held at December 31, 2022 and 2021, respectively (6,509) (147)
Clover stockholders' equity 347,738 535,414
Noncontrolling interest 0 3,903
Total stockholders' equity 347,738 539,317
Total liabilities and stockholders' equity 808,620 950,804
Common Class A    
Stockholders' equity    
Common stock, value 37 34
Common Class B    
Stockholders' equity    
Common stock, value $ 9 $ 12