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  "documentTitle": "Clover Health | Investor Presentation Deck | 28 slides",
  "authorId": "clover-health",
  "authorName": "Clover Health",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2021-11-01 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 27,
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  "slideType": "appendix_data",
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  "density": "dense",
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  "notes": "The slide includes detailed footnotes explaining MCR, non-GAAP measures, and Adjusted EBITDA definitions.",
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  "slideHref": "/slides/019de071-bf8f-775c-8e69-2ea55577133e/27",
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      "kind": "disclaimer",
      "text": "Note: Medical care ratio (MCR) is calculated by dividing total net medical claim expenses incurred by premiums earned... (1) YTD 3Q 2021 vs. YTD3Q 2020. (2) A non-GAAP financial measure... (3) Adjusted EBITDA is a non-GAAP financial measure...",
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      "text": "Membership growth supported by existing markets and new market expansion and launch of Direct Contracting. Our Medicare covered medical expenses increased meaningfully due in part to the launch of Direct Contracting in April 2021, MA membership growth, and the impact from the COVID-19 pandemic. CMS assigned Clover’s Medicare Advantage PPO plan 3.5 stars on the Medicare Star Ratings for the 2020 measurement year; the higher rating could positively impact MCR for our PPO plan beginning in 2023. We recognized a ($115) million change in the fair value of our public and private placement warrants in Q3 2021",
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      "kind": "table",
      "text": "Financial table with rows for MA Membership, Revenue, Gross Profit, MCR, Net Loss, and Adjusted EBITDA across 2019A, 2020A, and YTD Q3 2021.",
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      "kind": "title",
      "text": "Historical Financial Results",
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      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
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      "evidence": "The deck presents Clover's underlying financials and historical results.",
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