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  "documentTitle": "Clover Health | SPAC Presentation Deck | 46 slides",
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  "authorName": "Clover Health",
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  "presentationDate": "2020-10-01 00:00:00",
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  "pageNumber": 34,
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  "notes": "Includes detailed footnotes explaining MCR and Adjusted EBITDA definitions.",
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      "kind": "paragraph",
      "text": "The Clover Assistant allows us to generate positive margins while maintaining 30+% annual growth. Room for margin expansion over time: Stars enhanced payment mechanism, Improvement in the CA product, Increase in CA adoption and coverage. Enhanced margins = more $ available to reinvest in operating expenses and in enhancing the health plan value to the consumer",
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      "kind": "source-note",
      "text": "(1) Excludes Direct Contracting. (2) MCR, or Medical Care Ratio... (3) Adjusted EBITDA is a non-GAAP financial measure... (4) Based on full year 2020 membership estimates.",
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      "text": "Metric, 2019, Q1 2020, 2022E, Long-Term Target. Member Growth, 31%, 38%, 35%, 30%+. Clover Assistant Penetration, 59%, 61%, 68%, 70%+. Clover Assistant Returning Member MCR, 89%, 82%, 76%, <75%. Consolidated MCR, 99%, 89%, 86%, 82%-83%. Adjusted EBITDA Margin, (38%), (17%), (3%), 6-7%",
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      "kind": "title",
      "text": "How We Achieve Enhanced Margins At Best-In-Class Growth",
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