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Side-by-side financial comparison of CLOVER HEALTH INVESTMENTS, CORP. (CLOV) and Perion Network Ltd. (PERI). 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 $368.7M, roughly 1.3× Perion Network Ltd.). Perion Network Ltd. runs the higher net margin — 2.1% vs -10.1%, a 12.2% gap on every dollar of revenue. Perion Network Ltd. produced more free cash flow last quarter ($-2.9M vs $-69.0M). Over the past eight quarters, CLOVER HEALTH INVESTMENTS, CORP.'s revenue compounded faster (18.6% CAGR vs 16.4%).
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.
Perion Network Ltd. is a publicly traded advertising technology company that provides digital advertising technology solutions to advertisers, agencies, retailers, and publishers. Its core offerings are delivered through Perion One, a unified omnichannel advertising platform designed to support campaign planning, activation, optimisation, and measurement across channels and verticals including connected television (CTV), digital out-of-home (DOOH), display, video advertising, as well as retai...
CLOV vs PERI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $487.7M | $368.7M |
| Net Profit | $-49.3M | $7.7M |
| Gross Margin | — | — |
| Operating Margin | -10.1% | 2.0% |
| Net Margin | -10.1% | 2.1% |
| Revenue YoY | 44.7% | — |
| Net Profit YoY | -123.2% | — |
| EPS (diluted) | — | — |
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 | — | ||
| Q3 25 | $496.6M | $368.7M | ||
| Q2 25 | $477.6M | $266.5M | ||
| Q1 25 | $462.3M | $157.8M | ||
| Q4 24 | $337.0M | — | ||
| Q3 24 | $331.0M | $508.9M | ||
| Q2 24 | $356.3M | $323.6M | ||
| Q1 24 | $346.9M | $145.2M |
| Q4 25 | $-49.3M | — | ||
| Q3 25 | $-24.4M | $7.7M | ||
| Q2 25 | $-10.6M | $5.6M | ||
| Q1 25 | $-1.3M | $11.8M | ||
| Q4 24 | $-22.1M | — | ||
| Q3 24 | $-9.2M | $78.0M | ||
| Q2 24 | $7.4M | $45.2M | ||
| Q1 24 | $-19.2M | $23.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 24.5% | — | ||
| Q2 24 | 30.3% | — | ||
| Q1 24 | 23.6% | — |
| Q4 25 | -10.1% | — | ||
| Q3 25 | -4.9% | 2.0% | ||
| Q2 25 | -2.2% | -1.7% | ||
| Q1 25 | -0.3% | 5.4% | ||
| Q4 24 | -6.4% | — | ||
| Q3 24 | -2.7% | 15.1% | ||
| Q2 24 | 2.0% | 13.7% | ||
| Q1 24 | -6.5% | 16.9% |
| Q4 25 | -10.1% | — | ||
| Q3 25 | -4.9% | 2.1% | ||
| Q2 25 | -2.2% | 2.1% | ||
| Q1 25 | -0.3% | 7.5% | ||
| Q4 24 | -6.6% | — | ||
| Q3 24 | -2.8% | 15.3% | ||
| Q2 24 | 2.1% | 14.0% | ||
| Q1 24 | -5.5% | 16.4% |
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 | $156.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $308.7M | $722.9M |
| Total Assets | $541.0M | $915.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.3M | — | ||
| Q3 25 | — | $156.2M | ||
| Q2 25 | — | $156.2M | ||
| Q1 25 | — | $156.2M | ||
| Q4 24 | $194.5M | — | ||
| Q3 24 | $288.0M | $187.6M | ||
| Q2 24 | $254.8M | $187.6M | ||
| Q1 24 | $208.3M | $187.6M |
| Q4 25 | $308.7M | — | ||
| Q3 25 | $340.9M | $722.9M | ||
| Q2 25 | $344.2M | $722.9M | ||
| Q1 25 | $336.1M | $722.9M | ||
| Q4 24 | $341.1M | — | ||
| Q3 24 | $342.2M | $718.1M | ||
| Q2 24 | $324.9M | $718.1M | ||
| Q1 24 | $292.5M | $718.1M |
| Q4 25 | $541.0M | — | ||
| Q3 25 | $559.7M | $915.5M | ||
| Q2 25 | $575.0M | $915.5M | ||
| Q1 25 | $583.7M | $915.5M | ||
| Q4 24 | $580.7M | — | ||
| Q3 24 | $653.0M | $1.1B | ||
| Q2 24 | $674.2M | $1.1B | ||
| Q1 24 | $671.8M | $1.1B |
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 | $2.6M |
| Free Cash FlowOCF − Capex | $-69.0M | $-2.9M |
| FCF MarginFCF / Revenue | -14.1% | -0.8% |
| Capex IntensityCapex / Revenue | 0.4% | 1.5% |
| Cash ConversionOCF / Net Profit | — | 0.34× |
| TTM Free Cash FlowTrailing 4 quarters | $-69.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-66.9M | — | ||
| Q3 25 | $12.1M | $2.6M | ||
| Q2 25 | $5.4M | — | ||
| Q1 25 | $-16.3M | — | ||
| Q4 24 | $34.8M | — | ||
| Q3 24 | $50.0M | $105.2M | ||
| Q2 24 | $44.8M | — | ||
| Q1 24 | $25.9M | $17.8M |
| Q4 25 | $-69.0M | — | ||
| Q3 25 | $11.4M | $-2.9M | ||
| Q2 25 | $4.8M | — | ||
| Q1 25 | $-16.5M | — | ||
| Q4 24 | $33.3M | — | ||
| Q3 24 | $49.6M | $104.7M | ||
| Q2 24 | $44.4M | — | ||
| Q1 24 | $25.5M | $17.6M |
| Q4 25 | -14.1% | — | ||
| Q3 25 | 2.3% | -0.8% | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | -3.6% | — | ||
| Q4 24 | 9.9% | — | ||
| Q3 24 | 15.0% | 20.6% | ||
| Q2 24 | 12.5% | — | ||
| Q1 24 | 7.3% | 12.2% |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.1% | 1.5% | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.1% | 0.1% | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.1% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | 6.04× | — | ||
| Q1 24 | — | 0.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLOV
Segment breakdown not available.
PERI
| Advertising Solutions | $231.4M | 63% |
| Search Advertising | $137.3M | 37% |
