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Side-by-side financial comparison of CLOVER HEALTH INVESTMENTS, CORP. (CLOV) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
CLOVER HEALTH INVESTMENTS, CORP. is the larger business by last-quarter revenue ($487.7M vs $274.5M, roughly 1.8× IPG PHOTONICS CORP). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -10.1%, a 14.9% gap on every dollar of revenue. On growth, CLOVER HEALTH INVESTMENTS, CORP. posted the faster year-over-year revenue change (44.7% vs 17.1%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $-69.0M). Over the past eight quarters, CLOVER HEALTH INVESTMENTS, CORP.'s revenue compounded faster (18.6% CAGR vs 4.4%).
Clover Health Investments, Corp. is an American health care company founded in 2014. The company provides Medicare Advantage (MA) insurance plans and operates as a direct contracting entity with the U.S. government. The company manages care for Medicare beneficiaries in 11 states and started trading publicly on January 8, 2021.
IPG Photonics Corporation is a manufacturer of fiber lasers. IPG Photonics developed and commercialized optical fiber lasers, which are used in a variety of applications including materials processing, medical applications and telecommunications. IPG has manufacturing facilities in the United States, Germany, Russia and Italy.
CLOV vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $487.7M | $274.5M |
| Net Profit | $-49.3M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | -10.1% | 1.2% |
| Net Margin | -10.1% | 4.8% |
| Revenue YoY | 44.7% | 17.1% |
| Net Profit YoY | -123.2% | 69.8% |
| EPS (diluted) | — | $0.30 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $487.7M | $274.5M | ||
| Q3 25 | $496.6M | $250.8M | ||
| Q2 25 | $477.6M | $250.7M | ||
| Q1 25 | $462.3M | $227.8M | ||
| Q4 24 | $337.0M | $234.3M | ||
| Q3 24 | $331.0M | $233.1M | ||
| Q2 24 | $356.3M | $257.6M | ||
| Q1 24 | $346.9M | $252.0M |
| Q4 25 | $-49.3M | $13.3M | ||
| Q3 25 | $-24.4M | $7.5M | ||
| Q2 25 | $-10.6M | $6.6M | ||
| Q1 25 | $-1.3M | $3.8M | ||
| Q4 24 | $-22.1M | $7.8M | ||
| Q3 24 | $-9.2M | $-233.6M | ||
| Q2 24 | $7.4M | $20.2M | ||
| Q1 24 | $-19.2M | $24.1M |
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 39.5% | ||
| Q2 25 | — | 37.3% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | 24.5% | 23.2% | ||
| Q2 24 | 30.3% | 37.3% | ||
| Q1 24 | 23.6% | 38.7% |
| Q4 25 | -10.1% | 1.2% | ||
| Q3 25 | -4.9% | 3.1% | ||
| Q2 25 | -2.2% | 0.0% | ||
| Q1 25 | -0.3% | 0.8% | ||
| Q4 24 | -6.4% | 6.0% | ||
| Q3 24 | -2.7% | -108.7% | ||
| Q2 24 | 2.0% | 4.7% | ||
| Q1 24 | -6.5% | 7.6% |
| Q4 25 | -10.1% | 4.8% | ||
| Q3 25 | -4.9% | 3.0% | ||
| Q2 25 | -2.2% | 2.6% | ||
| Q1 25 | -0.3% | 1.6% | ||
| Q4 24 | -6.6% | 3.3% | ||
| Q3 24 | -2.8% | -100.2% | ||
| Q2 24 | 2.1% | 7.8% | ||
| Q1 24 | -5.5% | 9.6% |
| Q4 25 | — | $0.30 | ||
| Q3 25 | — | $0.18 | ||
| Q2 25 | — | $0.16 | ||
| Q1 25 | — | $0.09 | ||
| Q4 24 | — | $0.27 | ||
| Q3 24 | — | $-5.33 | ||
| Q2 24 | — | $0.45 | ||
| Q1 24 | — | $0.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $78.3M | $839.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $308.7M | $2.1B |
| Total Assets | $541.0M | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.3M | $839.3M | ||
| Q3 25 | — | $870.4M | ||
| Q2 25 | — | $899.6M | ||
| Q1 25 | — | $926.9M | ||
| Q4 24 | $194.5M | $930.2M | ||
| Q3 24 | $288.0M | $1.0B | ||
| Q2 24 | $254.8M | $1.1B | ||
| Q1 24 | $208.3M | $1.1B |
| Q4 25 | $308.7M | $2.1B | ||
| Q3 25 | $340.9M | $2.1B | ||
| Q2 25 | $344.2M | $2.1B | ||
| Q1 25 | $336.1M | $2.1B | ||
| Q4 24 | $341.1M | $2.0B | ||
| Q3 24 | $342.2M | $2.1B | ||
| Q2 24 | $324.9M | $2.3B | ||
| Q1 24 | $292.5M | $2.3B |
| Q4 25 | $541.0M | $2.4B | ||
| Q3 25 | $559.7M | $2.4B | ||
| Q2 25 | $575.0M | $2.4B | ||
| Q1 25 | $583.7M | $2.3B | ||
| Q4 24 | $580.7M | $2.3B | ||
| Q3 24 | $653.0M | $2.4B | ||
| Q2 24 | $674.2M | $2.5B | ||
| Q1 24 | $671.8M | $2.6B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-66.9M | $28.8M |
| Free Cash FlowOCF − Capex | $-69.0M | $10.9M |
| FCF MarginFCF / Revenue | -14.1% | 4.0% |
| Capex IntensityCapex / Revenue | 0.4% | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $-69.2M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-66.9M | $28.8M | ||
| Q3 25 | $12.1M | $35.3M | ||
| Q2 25 | $5.4M | $-2.2M | ||
| Q1 25 | $-16.3M | $13.4M | ||
| Q4 24 | $34.8M | $73.8M | ||
| Q3 24 | $50.0M | $66.1M | ||
| Q2 24 | $44.8M | $53.5M | ||
| Q1 24 | $25.9M | $54.6M |
| Q4 25 | $-69.0M | $10.9M | ||
| Q3 25 | $11.4M | $14.6M | ||
| Q2 25 | $4.8M | $-17.6M | ||
| Q1 25 | $-16.5M | $-11.4M | ||
| Q4 24 | $33.3M | $50.6M | ||
| Q3 24 | $49.6M | $43.0M | ||
| Q2 24 | $44.4M | $29.2M | ||
| Q1 24 | $25.5M | $26.5M |
| Q4 25 | -14.1% | 4.0% | ||
| Q3 25 | 2.3% | 5.8% | ||
| Q2 25 | 1.0% | -7.0% | ||
| Q1 25 | -3.6% | -5.0% | ||
| Q4 24 | 9.9% | 21.6% | ||
| Q3 24 | 15.0% | 18.4% | ||
| Q2 24 | 12.5% | 11.3% | ||
| Q1 24 | 7.3% | 10.5% |
| Q4 25 | 0.4% | 6.5% | ||
| Q3 25 | 0.1% | 8.3% | ||
| Q2 25 | 0.1% | 6.1% | ||
| Q1 25 | 0.0% | 10.9% | ||
| Q4 24 | 0.5% | 9.9% | ||
| Q3 24 | 0.1% | 9.9% | ||
| Q2 24 | 0.1% | 9.4% | ||
| Q1 24 | 0.1% | 11.1% |
| Q4 25 | — | 2.17× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | — | -0.34× | ||
| Q1 25 | — | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.04× | 2.65× | ||
| Q1 24 | — | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLOV
Segment breakdown not available.
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
