Track market-moving stories before they get noisy

Inovio Pharmaceuticals, Inc. (INO) Presents at Jefferies Global Healthcare Conference 2026 Transcript

Blink Charging (BLNK - Free Report) closed the most recent trading day at $0.67, moving -1.45% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.26%. Elsewhere, the Dow saw an upswing of 0.24%, while the tech-heavy Nasdaq appreciated by 0.36%.

The stock of company has risen by 18.7% in the past month, leading the Computer and Technology sector's gain of 9.34% and the S&P 500's gain of 5.98%.

The investment community will be paying close attention to the earnings performance of Blink Charging in its upcoming release. The company's upcoming EPS is projected at -$0.07, signifying a 61.11% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $21.15 million, indicating a 1.9% growth compared to the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.2 per share and a revenue of $110.55 million, indicating changes of +68.25% and +6.82%, respectively, from the former year.

Investors should also take note of any recent adjustments to analyst estimates for Blink Charging. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 33.33% rise in the Zacks Consensus EPS estimate. Blink Charging is holding a Zacks Rank of #2 (Buy) right now.

The Electronics - Miscellaneous Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 39% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Blink Offering Two Hours of Free Charging at Lafayette VASA Fitness Location and Week-Long Charging Credit Promotion starting Earth Day (April 22, 2026).

Bowie, MD, April 20, 2026 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global owner, operator, and provider of electric vehicle (EV) charging equipment and services, is teaming with VASA Fitness in Lafayette, which is in the Denver metro area, to celebrate Earth Day with the offer of two hours of free charging. Additionally, EV drivers can receive at $5 charging credit from April 22-29 for submitting a review of the site on Plugshare.

Blink Charging recently installed a new high-powered DC fast charging site at VASA Fitness in Lafayette, Colorado, featuring Kempower technology. The site offers 600kW total capacity with up to 360kW peak per stall, utilizing both CCS and NACS connectors to support fast and convenient charging.

To celebrate Earth Day and the installation of the new chargers, Blink is offering EV drivers the opportunity to charge their vehicles at no cost for two hours on Earth Day (April 22 from 12pm to 2pm MT) at the VASA fitness parking lot site (480 US-287 Lafayette, CO 80026).

“We’re excited to have recently activated Blink’s most powerful DC fast chargers to date, delivering up to 600 kilowatts at this key VASA Fitness location,” said Mike Battaglia, President and CEO at Blink. “Early utilization at the site is trending upward, reflecting strong demand. This deployment demonstrates the type of high-power fast charging sites that support predictable dwell times and represent compelling long-term growth and value-creation opportunities. This special Earth Day promotion will further draw visibility to the innovative chargers now ready for EV drivers at the VASA Fitness in Lafayette.”

“VASA Fitness is always looking for ways to better serve our members and the neighborhoods we’re part of,” said Michael Osanloo, CEO of VASA Fitness. “Hosting EV charging at our Lafayette location is a simple, convenient way to support our members’ daily routines while contributing to our local community.”

“Kempower technology is designed to deliver reliable, scalable, and user-friendly fast charging, and this site showcases how high-performance infrastructure can seamlessly support drivers’ everyday routines," said Jed Routh at Kempower. "On Earth Day, we’re especially proud to support EV charging providers like Blink who make sustainable transportation more accessible for everyday drivers.”

###

About Blink Charging

Blink Charging Co. (NASDAQ: BLNK) is a global leader in electric vehicle (EV) charging equipment and services, enabling drivers, hosts, and fleets to easily transition to electric transportation through innovative charging solutions. Blink’s principal line of products and services include Blink’s EV charging network (“Blink Network”), EV charging equipment, and EV charging services. The Blink Network uses proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. Blink has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs.

For more information, please visit https://blinkcharging.com/

Forward-Looking Statements 

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and terms such as “anticipate,” “expect,” “intend,” “may,” “will,” “should” or other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief, or current expectations of Blink Charging and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including achieving projected revenue, adjusted EBITDA and gross margin targets as described in Blink Charging’s periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Blink Charging undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

Blink Media Contact
Felicitas Massa
[email protected]

Blink Investor Relations Contact
Vitalie Stelea
[email protected]

In the latest trading session, Blink Charging (BLNK - Free Report) closed at $0.77, marking a -1.67% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.12%. At the same time, the Dow lost 0.13%, and the tech-heavy Nasdaq gained 0.2%.

Coming into today, shares of the company had gained 45.08% in the past month. In that same time, the Computer and Technology sector gained 16.05%, while the S&P 500 gained 9.3%.

The upcoming earnings release of Blink Charging will be of great interest to investors. The company is predicted to post an EPS of -$0.07, indicating a 61.11% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $21.15 million, indicating a 1.9% increase compared to the same quarter of the previous year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.2 per share and revenue of $110.55 million, indicating changes of +68.25% and +6.82%, respectively, compared to the previous year.

Any recent changes to analyst estimates for Blink Charging should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 33.33% rise in the Zacks Consensus EPS estimate. Blink Charging presently features a Zacks Rank of #2 (Buy).

The Electronics - Miscellaneous Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 94, placing it within the top 39% of over 250 industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

In the latest close session, Blink Charging (BLNK - Free Report) was down 1.72% at $0.72. The stock fell short of the S&P 500, which registered a loss of 0.41% for the day. On the other hand, the Dow registered a loss of 1.13%, and the technology-centric Nasdaq decreased by 0.19%.

The company's shares have seen an increase of 27.55% over the last month, surpassing the Computer and Technology sector's gain of 18.71% and the S&P 500's gain of 10.02%.

Market participants will be closely following the financial results of Blink Charging in its upcoming release. The company is forecasted to report an EPS of -$0.07, showcasing a 61.11% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $21.15 million, up 1.9% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of -$0.2 per share and a revenue of $110.55 million, demonstrating changes of +68.25% and +6.82%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Blink Charging. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Blink Charging holds a Zacks Rank of #2 (Buy).

The Electronics - Miscellaneous Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Blink Charging (BLNK - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Blink Charging is one of 596 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Blink Charging is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for BLNK's full-year earnings has moved 33.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, BLNK has gained about 28.7% so far this year. In comparison, Computer and Technology companies have returned an average of 15%. This shows that Blink Charging is outperforming its peers so far this year.

Another Computer and Technology stock, which has outperformed the sector so far this year, is Extreme Networks (EXTR - Free Report) . The stock has returned 41.4% year-to-date.

For Extreme Networks, the consensus EPS estimate for the current year has increased 14% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Blink Charging belongs to the Electronics - Miscellaneous Services industry, a group that includes 3 individual stocks and currently sits at #43 in the Zacks Industry Rank. On average, this group has gained an average of 80.9% so far this year, meaning that BLNK is slightly underperforming its industry in terms of year-to-date returns.

In contrast, Extreme Networks falls under the Computer - Networking industry. Currently, this industry has 7 stocks and is ranked #72. Since the beginning of the year, the industry has moved +19%.

Investors interested in the Computer and Technology sector may want to keep a close eye on Blink Charging and Extreme Networks as they attempt to continue their solid performance.

MarketBeat Instant News Alerts Trending News All MarketBeat Instant News Alerts Sort By

Time Frame

Alert Type

Keywords

Page 1 of 325

Get 30 Days of MarketBeat All Access for Free

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools.

Start Your 30-Day Trial

Sign in to your free account to enjoy these benefits

In-depth profiles and analysis for 20,000 public companies. Real-time analyst ratings, insider transactions, earnings data, and more. Our daily ratings and market update email newsletter. Sign in to your free account to enjoy all that MarketBeat has to offer.

Key Takeaways BLNK posts Q1 adjusted loss of 6 cents, beating estimates and improving versus 18 cents a year ago.BLNK service revenues rise 25% to $13.3M, now 64% of total as recurring income grows.BLNK cuts operating expenses 35% and turns operating cash flow positive as losses narrow. Blink Charging Co. (BLNK - Free Report) posted a first-quarter 2026 adjusted loss of 6 cents per share, marking an improvement from the year-ago quarter's loss of 18 cents. The reported loss was narrower than the Zacks Consensus Estimate of a loss of 7 cents by 14.3%. Total revenues in the quarter were $20.8 million, which remained flat year over year but missed the Zacks Consensus Estimate of $21.4 million by 2.7%.

The company reduced costs and ran its operations more efficiently during the quarter. It is steadily increasing its focus on earning regular, repeat income from services rather than one-time sales. During the quarter, its charging network delivered about 56 GWh of electricity, indicating strong utilization of its charging stations.

Blink Shifts Mix Toward Higher-Quality Service RevenuesService revenues increased 25% year over year to $13.3 million, benefiting from repeatable charging service revenues and recurring network fees. Service revenues represented 64.2% of total revenues, up from 51.6% a year ago, highlighting Blink’s continued transition toward more predictable, higher-quality revenue streams.

Product revenues declined 26.1% year over year to $6.2 million. The decline was due to a planned move from more one-time, lower-priority sales. Blink is instead focusing on disciplined channel activity and better monetization of its network and services.

BLNK's Margins Reflect Mix Shift and DC Buildout CostsGross profit was $6.6 million, translating to a GAAP gross margin of 32%, down from 34.1% in the year-ago period. Although a larger share of revenues is coming from services, the improvement was partly offset by higher costs associated with expanding and operating its own DC fast-charging stations.

On a non-GAAP basis, gross margin improved 213 basis points year over year to 42.4%. This indicates improving profitability, driven by the benefits of the changing revenue mix. However, this is being partly offset in the short term by higher costs from building and scaling its charging infrastructure and increasing usage.

Blink's Cost Reset Drives Operating LeverageOperating expenses declined 35.3% year over year to $18.4 million, reflecting lower compensation costs, reduced general and administrative spending and tighter overall cost controls. Non-GAAP operating expenses dropped to $13.9 million from $22.6 million a year earlier. This reflects the company’s significant cost reductions, leading to a leaner and more efficient expense structure after its 2025 cost-cutting efforts.

The company’s improved cost control helped reduce losses. Its adjusted EBITDA loss narrowed to $5.1 million from $14.3 million a year ago. This shows it is moving closer to profitability, supported by better infrastructure use and gradual improvements in efficiency as the network expands.

BLNK Cash Flow Turns Positive, Liquidity Remains SolidCash flow from operations turned positive, with net cash provided by operating activities of $0.7 million as of March 31, 2026, compared to cash usage of $13 million as of March 31, 2025. The swing was aided by lower net losses and working-capital benefits, including improved accounts receivable dynamics during the quarter.

Blink ended March 31, 2026, with $38 million in cash and cash equivalents compared with $39.6 million as of Dec. 31, 2025. The company reported no debt as of March 31, 2026. While liquidity declined modestly on a sequential basis, the balance sheet profile remained clean, providing flexibility as the company continues to fund selective DC fast charging investments.

Blink Reiterates 2026 Outlook as DC Pipeline BuildsFor 2026, Blink continues to expect full-year revenues between $105 million and $115 million. It expects a GAAP gross margin of about 35%. This shows the company’s focus on delivering stable, consistent performance and improving profitability rather than pursuing short-term volume.

The company is expanding its fast-charging network to support future usage growth and steady recurring income. It currently has 27 DC fast-charging sites planned. Out of these, 24 sites have already been approved with 125 charging stalls, while three sites are under construction with 11 stalls. This shows Blink is actively growing its own charging infrastructure, which it expects will drive long-term growth.

BLNK currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Releases From EV SpaceTesla (TSLA - Free Report) reported first-quarter 2026 results on April 22. It posted adjusted earnings of 41 cents per share, which increased 52% year over year and beat the Zacks Consensus Estimate of 36 cents by 13.04%.

Quarterly revenues rose 15.8% from the year-ago quarter to $22.39 billion and topped the Zacks Consensus Estimate of $21.92 billion by 2.12%, supported by higher vehicle deliveries and stronger Services and Other activity.

Cash, cash equivalents and short-term investments ended the quarter at $44.74 billion, while debt and finance leases net of the current portion were $7.78 billion. Tesla’s quarter-over-quarter cash and investments increase was aided by free cash flow and financing inflows, partly offset by a $2 billion SpaceX equity investment.

Rivian Automotive (RIVN - Free Report) reported first-quarter 2026 results on April 30. It posted a reported loss of 55 cents per share in the first quarter of 2026, narrower than the Zacks Consensus Estimate of a loss of 60 cents, delivering a positive earnings surprise of 7.7%.

Quarterly revenues totaled $1.38 billion, topping the consensus mark of $1.37 billion by 1% and rising 11.4% year over year. Higher delivery volumes and strong software and services execution were key supports for the quarter.

Liquidity remained a key investor focus. As of March 31, 2026, Rivian’s cash and cash equivalents totaled $2.85 billion compared with $3.58 billion as of Dec. 31, 2025. The company reported total available liquidity of $5.39 billion, including availability under its ABL facility. Long-term debt was $4,442 million as of March 31, 2026, compared with $4,440 million as of Dec. 31, 2025.

Blink Customer Survey Also Gathers Latest Attitudes About EV Charging

Bowie, MD, June 03, 2026 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global owner, operator, and provider of electric vehicle (EV) charging equipment and services, has announced proactive enhancements to its customer service programs in an effort to redefine what customer experience means in the EV infrastructure industry, placing the customer at the center of every decision, every action, and every outcome.

Under the leadership of Elizabeth Castelluccio, Blink’s new Vice President of Global Customer Experience, the Company has launched a global transformation designed to fundamentally reshape how it listens to, supports, and aligns with its customers.

Blink is executing a coordinated set of initiatives that elevate customer experience from a support function to a core driver of growth, trust, and long-term value. Across the organization, teams are aligning around a single goal: to deliver a seamless, transparent, and high-performing experience at every customer touchpoint.

Key transformation elements already underway include:

Voice of the Customer at the Core: Embedding real-time customer insights into decision-making at every level of the organizationEnd-to-End Customer Ownership: Aligning Customer Support, Success, Field Operations, Onboarding, and all supporting teams under shared accountability for customer outcomesEnterprise Account Recovery at Scale: Strengthening relationships with customers through proactive executive engagement, fast and transparent issue resolution, and highly coordinated cross-functional collaborationReal-Time Operational Excellence: Implementing an uptime management model that ensures clarity, speed, and transparency during critical momentsStability Through Transition: Strengthening continuity, preserving institutional knowledge, and ensuring consistent delivery globally “Customer experience is not simply an initiative, it is how we operate,” said Castelluccio. “We are building a company where every decision starts with the customer, where every team owns the outcome, and where trust is earned through transparency, accountability, and action. This proactive transformation is about more than improvement, it’s about setting a new standard for alignment and collaboration in our industry.”

At the center of this transformation is a series of meetings with dozens of Blink’s customers and drivers.

The focus of the meetings is in line with Blink’s values to listen to customer voices, learn what matters most throughout the customer journey, and lead future solutions with customer input directly shaping the redesign of the Blink customer journey.

Simultaneously, Blink is building the foundation for a scalable, industry-leading customer experience model, including the following elements:

A Global Customer Experience Framework redefining ownership, standards, and lifecycle accountabilityKPI-driven visibility into customer health, performance, and riskA shift from reactive support to a proactive engagement modelGlobal playbooks and enablement to ensure consistency across regionsExpansion of Voice of the Customer programs as a permanent capabilityA sustained effort to embed a customer-first culture into every function The transformation is surfacing critical insights in real time, informing immediate improvements, and strengthening executive relationships across Blink’s customer base. As another part of its ongoing dialogue with drivers and site hosts, Blink has been conducting in-depth customer surveys on opinions and outlook for the EV industry. Customers are demanding greater reliability, stronger communication, and a more consistent experience, and Blink is responding with speed and focus.

Blink’s most recent data, gathered from a survey conducted by Blink of more than 400 EV charging host sites and EV drivers, revealed that both hosts and drivers believe in the future of EV charging and its continued growth, and that there is a clear opportunity to close the gap between growing demand and today’s public charging experience. According to the data, in order to achieve the convenience level of gas station fueling, more chargers will be needed.

“Customer experience in EV charging is inconsistent across the industry, and that has to change," said Mike Battaglia, President and CEO of Blink Charging. "We’re taking a disciplined approach to simplify the experience and improve reliability for both drivers and site hosts. This is about executing better, resolving issues faster, and delivering a consistent standard our customers can depend on.”

###

About Blink Charging

Blink Charging Co. (Nasdaq: BLNK) is a global leader in electric vehicle (EV) charging equipment and services, enabling drivers, hosts, and fleets to easily transition to electric transportation through innovative charging solutions. Blink’s principal line of products and services include Blink’s EV charging network (“Blink Network”), EV charging equipment, and EV charging services. The Blink Network uses proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. Blink has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs.

For more information, please visit https://blinkcharging.com/

Forward-Looking Statements 

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and terms such as “anticipate,” “expect,” “intend,” “may,” “will,” “should” or other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of Blink Charging and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including achieving projected revenue, adjusted EBITDA and gross margin targets as described in Blink Charging’s periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Blink Charging undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

Blink Media Contact
Felicitas Massa
[email protected]

Blink Investor Relations Contact
Vitalie Stelea
[email protected]

Key Takeaways OCGN targets Q3 2026 rolling BLA for OCU400, with top-line Phase III data expected in Q1 2027.OCU410ST completed pivotal enrollment and dosing; interim data are due Q3 2026, top-line in Q2 2027.OCU410 plans a Phase III start in Q3 2026 after Phase II lesion-growth reduction signals and clean safety. Ocugen (OCGN - Free Report) is advancing three one-time gene therapy programs for retinal diseases, each aimed at conditions with large unmet needs and limited effective options.

The company’s late-stage calendar clusters multiple clinical readouts and regulatory steps into 2026 and 2027, setting up a dense catalyst window for a stock that can swing sharply on data and policy decisions.

OCGN’s 2026-27 Calendar in One ViewOcugen frames 2026 as pivotal because it expects meaningful milestones across all three core ocular programs in the same year. The cadence includes regulatory progress for the lead candidate and an interim clinical update for a second pivotal study, while a third program is positioned to enter Phase III.

That synchronization matters because it concentrates investor attention on a short list of binary events, rather than a long, diffuse development timeline. At the same time, the setup carries risk because the company has no approved products, burns cash, and remains dependent on high-risk trials and regulatory outcomes.

The first quarter of 2027 matters most for OCGN because it is the expected window for top-line Phase III results for the lead program. That readout sits directly on top of the company’s planned regulatory path and is the clearest single event in the stated 2026-27 timeline.

Ocugen’s Lead Programs and What They TreatOcugen’s three core retinal targets are retinitis pigmentosa, Stargardt disease, and geographic atrophy, each associated with progressive vision loss and limited treatment choices today. The company positions these programs around large underserved populations and a lack of effective options, particularly for Stargardt disease and geographic atrophy in Europe.

For retinitis pigmentosa, the company highlights broad genetic complexity, with mutations across more than 100 genes. It also points to the narrow reach of the only approved gene therapy approach cited, which targets a small fraction of the population.

For Stargardt disease, the emphasis is on the absence of approved options and a mutation profile that is wide enough to support a “one-time” approach that aims to address many disease-causing variants. For geographic atrophy, the company contrasts the burden of repeated injections in existing U.S. treatment with the goal of a one-time therapy that addresses multiple aspects of disease biology.

OCGN and OCU400: What Comes FirstOCU400 is Ocugen’s lead modifier gene therapy program for retinitis pigmentosa, and enrollment is complete in the Phase III liMeliGhT study, which enrolled 140 patients.

The next stated regulatory step is a rolling biologics license application targeted for the third quarter of 2026, positioning OCU400 toward a potential approval pathway in 2027 if the Phase III package supports it. The FDA has granted orphan drug designation for OCU400 in retinitis pigmentosa.

The company’s key clinical catalyst is top-line Phase III timing expected in the first quarter of 2027. Earlier studies are characterized as showing durable safety and meaningful vision improvement, which sets the baseline narrative going into the pivotal readout.

Ocugen and OCU410ST: Interim Data SetupOCU410ST is being developed as a one-time gene therapy for Stargardt disease, and enrollment and dosing have been completed in the Phase II/III GARDian3 pivotal confirmatory study.

The next milestones are staged: interim data are expected in the third quarter of 2026, followed by top-line results anticipated in the second quarter of 2027. That sequencing keeps Stargardt disease as a parallel catalyst stream alongside the OCU400 program.

Ocugen targets a mid-2027 biologics license application submission for OCU410ST. Earlier Phase I results are described as having the potential to provide clinically meaningful functional and structural benefits in Stargardt disease patients.

OCGN and OCU410: From Phase II Signal to Phase III StartOCU410 is being developed as a one-time gene therapy for geographic atrophy secondary to dry age-related macular degeneration. The Phase II efficacy narrative emphasizes the medium dose as the optimal dose intended for Phase III development.

Across Phase II updates, Ocugen cites lesion-growth reduction signals versus control, including a 31% reduction at 12 months for the medium dose and a 54% reduction versus control for the medium dose in a separate disclosure of 12-month performance. The company also points to a clean safety profile with no treatment-related serious adverse events across studies cited.

The next development step is the plan to begin a Phase III registrational study in the third quarter of 2026, moving geographic atrophy into the same late-stage rhythm as the other programs.

Ocugen’s “Three Filings by 2028” GoalOcugen’s stated strategy is to run these programs on synchronized tracks, with three regulatory applications planned over the next three years, turning a multi-asset pipeline into a rolling series of potential catalysts.

This setup can create multiple moments for the market to reassess OCGN, especially as 2026 brings a rolling filing for OCU400, interim Stargardt data, and a planned Phase III start in geographic atrophy, followed by pivotal readouts in 2027.

The flip side is that the same tight calendar can amplify volatility. For context, other gene-therapy-focused names like REGENXBIO (RGNX - Free Report) and MeiraGTx Holdings (MGTX - Free Report) also operate in an event-driven clinical landscape, where trial updates and regulatory signals can reshape expectations quickly. For OCGN, the ultimate direction still depends on clinical execution and regulatory outcomes over 2026 and 2027.

OCGN’s Zacks RankOcugen currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here

Key Takeaways OCGN says OCU400 could address 98% to 99% of retinitis pigmentosa patients across mutations.OCU410ST targets Stargardt disease with interim data due Q3 2026 and top-line results in Q2 2027.OCU410 plans Phase III in Q3 2026 after Phase II lesion-growth reduction signals in geographic atrophy. Ocugen (OCGN - Free Report) is pushing a modifier gene therapy platform across several retinal diseases where current options are limited, burdensome, or simply absent. The common thread is a “gene-agnostic” concept that aims to help broad patient groups with one-time treatment rather than chasing single mutations one by one.

With multiple late-stage timelines converging and several 2026 readouts and regulatory steps on the calendar, the setup is increasingly catalyst-driven. At the same time, Ocugen has no approved products and continues to burn cash, keeping risk elevated.

OCGN’s Modifier Gene Therapy Explained SimplyInherited retinal diseases like retinitis pigmentosa can be caused by many different genetic mutations. Ocugen’s modifier gene therapy platform is designed to work across mutations, rather than matching a therapy to a single defective gene.

That stands apart from a mutation-specific paradigm, where treatment eligibility can narrow sharply depending on the patient’s exact gene defect. In practice, Ocugen is trying to make one therapy relevant to many genetic subtypes, which could expand both clinical utility and commercial reach if efficacy and safety hold up in late-stage testing.

Ocugen’s “Broad Coverage” Claim in RPRetinitis pigmentosa is associated with mutations in more than 100 genes, creating a fragmented landscape for drug development. The company’s framing highlights that there is only one approved gene therapy for retinitis pigmentosa, and it targets a single mutation representing about 1% to 2% of the total retinitis pigmentosa population.

OCU400 is positioned as a one-time subretinal injection that could treat multiple gene mutations, with the potential to cover about 98% to 99% of all retinitis pigmentosa patients. Enrollment is complete in the Phase III liMeliGhT study, and top-line data is expected in the first quarter of 2027. The company expects to begin filing a rolling biologics license application in the third quarter of 2026, supported by ongoing Chemistry Manufacturing and Controls work. The Food and Drug Administration has also granted orphan drug designation to OCU400 for retinitis pigmentosa.

OCGN’s One-Time Approach in Stargardt DiseaseOCU410ST is being developed as a one-time gene therapy for Stargardt disease, a condition with no Food and Drug Administration-approved treatments. That lack of approved options is a key reason the upcoming clinical updates carry high attention potential.

Ocugen’s patient population framing emphasizes scale and genetic complexity. Stargardt disease affects roughly 100,000 patients in the United States and the European Union and about 1 million globally. OCU410ST is positioned to address more than 1,200 disease-causing mutations in the ABCA4 gene with a single therapy, including ABCA4-related retinopathies. Enrollment and dosing have been completed in the Phase II/III GARDian3 pivotal confirmatory study, with interim data expected in the third quarter of 2026 and top-line data anticipated in the second quarter of 2027. A biologics license application submission is targeted for mid-2027.

Ocugen’s GA Thesis Beyond Anti-ComplementGeographic atrophy is another area where Ocugen is arguing for a shift in the treatment paradigm. The company notes that current options can require multiple injections and focus on one aspect of disease, while OCU410 is intended as a one-time gene therapy that addresses multiple aspects beyond the complement pathway.

In Phase II, preliminary signals highlighted lesion growth reduction at 12 months. The company has described a 46% lesion growth reduction across the medium- and high-dose groups versus control, with the medium dose showing the strongest effect. A later 12-month update described a 31% reduction versus control at the medium dose and reiterated that the medium dose is intended for Phase III development. Phase III is planned to begin in the third quarter of 2026.

This is also where comparisons naturally arise to companies building around complement inhibition. Apellis Pharmaceuticals , for example, remains a closely watched name in geographic atrophy, and it currently carries a Zacks Rank #3 (Hold).

OCGN’s De-Risking Attempts Through PartnershipsWith no marketed products, Ocugen’s strategy includes monetizing select geographies while keeping broader upside. In 2025, the company signed its first licensing agreement with Kwangdong Pharmaceutical for exclusive South Korea rights to OCU400, explicitly framed as regional monetization without giving up global opportunity.

Collaborative revenue is expected to come from licensing, milestones, royalties, and supply. Fiscal 2025 revenue totaled $4.4 million, driven primarily by the CanSinoBIO co-development and commercialization agreement, while no revenue was recognized under the Kwangdong OCU400 agreement in 2025 because there was no product delivery during the period.

Ocugen’s Platform Optionality Beyond OphthalmologyBeyond the lead ocular gene therapy programs, Ocugen has several programs that can diversify risk but remain early or execution-dependent. OCU200 is a novel biologic in Phase I for retinal vascular diseases, and the company has navigated prior regulatory delays that pushed timelines out before the program moved forward.

NeoCart is described as a Phase III-ready regenerative cell therapy for knee cartilage repair, adding a non-ophthalmology asset with nearer-term development readiness. The inhaled mucosal vaccine platform, including OCU500, OCU510 and OCU520, broadens exposure to infectious diseases and has external support, including National Institute of Allergy and Infectious Diseases backing for planned Phase I initiation.

Investors weighing platform optionality often benchmark against other gene-therapy-focused developers. Sarepta Therapeutics (SRPT - Free Report) , a prominent name in genetic medicine, currently carries a Zacks Rank #3 (Hold).

OCGN's Zacks RankOcugen currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MALVERN, Pa., April 29, 2026 (GLOBE NEWSWIRE) -- Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a pioneering biotechnology leader in gene therapies for blindness diseases, today announced that it will host a conference call and live webcast to discuss the Company's first quarter 2026 financial results and provide a business update at 8:30 a.m. ET on Tuesday, May 5, 2026.

MALVERN, Pa., May 05, 2026 (GLOBE NEWSWIRE) -- Ocugen, Inc. (“Ocugen”) (NASDAQ: OCGN) today announced the pricing of $115 million aggregate principal amount of 6.75% Convertible Senior Notes due 2034 (the “notes”) in a private offering (the “offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Ocugen also granted the initial purchaser of the notes a 13-day option to purchase up to an additional $15 million aggregate principal amount of the notes. The sale of the notes to the initial purchaser is expected to close on May 7, 2026, subject to customary closing conditions, and is expected to result in approximately $99.5 million (or approximately $112.6 million if the initial purchaser exercises its option to purchase additional notes in full) in net proceeds to Ocugen after deducting the initial purchaser’s discount and estimated offering expenses payable by Ocugen.

The offering price of the notes is 90% of the principal amount of notes. Ocugen intends to use approximately $32.7 million of the net proceeds from the offering to fully repay the outstanding principal amount of, plus accrued and unpaid interest on, the loan outstanding under its Loan and Security Agreement with affiliates of Avenue Capital Group (the “Avenue Loan Agreement”), and pay the related prepayment fee and other fees and expenses in connection therewith. Ocugen expects to use the remaining net proceeds from the offering, including any additional proceeds from the initial purchaser’s exercise of its option to purchase additional notes, for general corporate purposes.

The notes will be Ocugen’s general unsecured obligations and will rank senior in right of payment to all of its future indebtedness that is expressly subordinated in right of payment to the notes, equal in right of payment to all of its existing and future liabilities that are not so subordinated, and junior to all of its secured indebtedness, to the extent of the value of the assets securing such indebtedness. Interest will be payable semi-annually in arrears. The notes will bear interest at a rate of 6.75% per year. Interest will be payable semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2026. The notes will mature on May 15, 2034, unless earlier repurchased, redeemed or converted.

Ocugen may not redeem the notes prior to May 15, 2029. Ocugen may redeem for cash all or any portion of the notes (subject to certain limitations), at its option, on or after May 15, 2029 and prior to the 41st scheduled trading day immediately preceding the maturity date, if the last reported sale price of Ocugen’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which Ocugen provides notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Holders of the notes may require Ocugen to repurchase for cash all or any portion of their notes on May 15, 2032 at a repurchase price equal to 100% of the principal amount of notes to be repurchased, plus accrued and unpaid interest to, but excluding May 15, 2032. In addition, holders of the notes will have the right to require Ocugen to repurchase all or a portion of their notes upon the occurrence of a fundamental change (as defined in the indenture governing the notes) at a purchase price of 100% of their principal amount plus any accrued and unpaid interest to, but excluding, the relevant fundamental change repurchase date.

The notes may not be converted prior to the earlier of (i) May 15, 2027 and (ii) the “reserved share effective date” (as defined in the indenture governing the notes), which is effectively the date on which Ocugen reserves the maximum number of shares of common stock underlying the notes. The notes will be convertible at an initial conversion rate of 372.7866 shares of Ocugen’s common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $2.68 per share, which represents a conversion premium of approximately 45% to the last reported sale price of $1.85 per share of Ocugen’s common stock on The Nasdaq Capital Market on May 4, 2026). Conversions of the notes may be settled in cash, shares of Ocugen’s common stock, or a combination thereof, at Ocugen’s election; provided that unless and until the reserved share effective date occurs, conversions of the notes will be settled via cash settlement.

The notes were only offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act. Neither the notes nor the shares of Ocugen’s common stock potentially issuable upon conversion of the notes, if any, have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from such registration requirements.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties, including but not limited to, statements regarding the anticipated use of proceeds from the offering, including the repayment of the Avenue Loan Agreement; the completion of the offering, and other statements contained in this press release that are not historical facts. Ocugen may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from Ocugen’s current expectations, including, but not limited to: risks related to the offering and uncertainties related to market conditions; the impact of the offering on the market price of Ocugen’s common stock; and risks related to the potential dilution to holders of Ocugen’s common stock. These and other risks and uncertainties are more fully described in Ocugen’s periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that Ocugen files with the SEC. Any forward-looking statements that Ocugen makes in this press release speak only as of the date of this press release. Except as required by law, Ocugen assumes no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Contact:

Candice Masse
astr partners
[email protected]

Ocugen (OCGN - Free Report) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to a loss of $0.05 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -12.57%. A quarter ago, it was expected that this biotech knee implant developer would post a loss of $0.06 per share when it actually produced a loss of $0.06, delivering no surprise.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Ocugen, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $1.53 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 27.75%. This compares to year-ago revenues of $1.48 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Ocugen shares have added about 37% since the beginning of the year versus the S&P 500's gain of 5.2%.

What's Next for Ocugen?While Ocugen has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Ocugen was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.05 on $1.2 million in revenues for the coming quarter and -$0.22 on $5.4 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the bottom 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Sutro Biopharma, Inc. (STRO - Free Report) , has yet to report results for the quarter ended March 2026.

This company is expected to post quarterly loss of $2.32 per share in its upcoming report, which represents a year-over-year change of +74.5%. The consensus EPS estimate for the quarter has been revised 14.9% higher over the last 30 days to the current level.

Sutro Biopharma, Inc.'s revenues are expected to be $8.96 million, down 48.5% from the year-ago quarter.

Key Takeaways OCGN posted a Q1 loss of 6 cents per share, wider than estimates and the prior-year loss.Ocugen's expenses rose on accelerated R&D and commercial preparation, lifting operating costs.OCGN advanced gene therapy pipeline, reporting strong OCU410 data and achieving key trial milestones. Ocugen (OCGN - Free Report) incurred a loss of 6 cents per share in the first quarter of 2026, wider than the Zacks Consensus Estimate as well as the year-ago loss of 5 cents.

Ocugen’s total revenues rose 3.5% year over year to $1.5 million in the first quarter, beating the Zacks Consensus Estimate of $1 million.

The company’s top line currently comprises only collaboration revenues.

OCGN’s Q1 Results in DetailOcugen’s operating expenses increased during the quarter as the company accelerated clinical development and commercial preparation activities.

Research and development expenses were $11.3 million, up 18.1% from the year-ago quarter’s level. General and administrative expenses totaled $8.1 million, up 25.8% year over year.

As of March 31, 2026, Ocugen had cash, cash equivalents and restricted cash worth $32.2 million compared with $18.9 million as of Dec. 31, 2025. Management stated that the company expects its recent $115 million convertible senior notes offering to extend the cash runway into 2028.

OCGN’s Pipeline Progress & Clinical UpdatesOcugen continued to make significant progress across its ophthalmology gene therapy portfolio during the quarter, with management targeting three biologics license application (BLA) submissions by 2028.

In March, the company completed patient enrollment in the phase III liMeliGhT registrational study on OCU400 for the treatment of patients with retinitis pigmentosa, a rare genetic disorder that can lead to vision loss and blindness. Top-line data is expected in the first quarter of 2027. OCGN plans to begin a rolling BLA submission in the third quarter of 2026 and complete it by the second quarter of 2027. Potential FDA approval is anticipated in the fourth quarter of 2027.

Ocugen also achieved an important milestone for another gene therapy candidate, OCU410ST. In April, the company completed enrollment and dosing in the phase II/III GARDian3 pivotal confirmatory study evaluating OCU410ST for the treatment of Stargardt disease, a rare inherited retinal disorder with no approved treatments currently available. The milestone was achieved ahead of schedule.

Top-line data is anticipated in the second quarter of 2027. The company targets a mid-2027 BLA submission for OCU410ST.

One of the quarter’s most important developments was positive 12-month top-line data from the phase II ArMaDa study evaluating OCU410 in geographic atrophy secondary to dry age-related macular degeneration.

The therapy achieved a statistically significant 31% reduction in lesion growth at the optimal (medium) dose compared with the control group and showed approximately 27% slower rate of ellipsoid zone loss, a key indicator linked to visual function. Around 20% of treated patients experienced no disease progression, while nearly 75% achieved more than a 30% reduction in lesion growth.

Based on the data, OCGN plans to initiate a phase III registrational study in the third quarter of 2026 with potential BLA filing by 2028.

Shares of OCGN fell sharply by around 19% on Tuesday despite key timelines for its pipeline candidates being maintained. The decline could be because investors focused more on the company’s rising costs and operating losses along with the earnings release. Ocugen recently announced and priced a $115 million private offering of 6.75% convertible senior notes due 2034, with an option to raise an additional $15 million. This may have weighed on investor sentiment as the potential increase to $130 million raised concerns about dilution and higher future debt obligation.

Year to date, shares of OCGN have risen 10.4% against the industry’s 2.4% decline.

Image Source: Zacks Investment Research

OCGN's Zacks Rank & Stocks to ConsiderOcugen currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Castle Biosciences (CSTL - Free Report) and Indivior Pharmaceuticals (INDV - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy) and Catalyst Pharmaceuticals (CPRX - Free Report) , which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, estimates for Castle Biosciences’ 2026 loss per share have narrowed from $1.42 to $1.40. Over the same period, loss per share estimates for 2027 have also narrowed from 79 cents to 78 cents. CSTL shares have lost 36.7% year to date.

Castle Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 34.69%.

Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 earnings per share have increased from $3.03 to $3.26. Over the same period, EPS estimates for 2027 have risen from $3.40 to $3.57. INDV shares have risen 10.3% year to date.

Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.

Over the past 60 days, estimates for Catalyst Pharmaceuticals’ 2026 earnings per share have declined from $2.82 to $2.79. Over the same period, EPS estimates for 2027 have surged from $3.20 to $3.28. CPRX shares have gained 32.3% year to date.

Catalyst Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 35.19%.

May 13, 2026 07:02 ET  | Source: Ocugen

MALVERN, Pa., May 13, 2026 (GLOBE NEWSWIRE) -- Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a pioneering biotechnology leader in gene therapies for blindness diseases, today announced that the Company will present on its innovative modifier gene therapy platform at upcoming scientific and investor conferences in May 2026.

Retina World Congress

Inherited and Rare Retinal Diseases Session
Moderators: Kourous A. Rezaei, MD and Rishi P. Singh, MD, FASRS
Location: Grand Ballroom
Date: Thursday, May 14, 2026
Time: 10:31 am – 11:10 a.m. EDT

Stifel 2026 Virtual Ophthalmology Forum

Location: Virtual
Date: Tuesday, May 26, 2026
Time: 10:30 am – 10:55 a.m. EDT

A webcast of the Stifel presentation will be available under the “Events and Presentation” page of the Investors section of the Company’s website. A replay of the webcast will be available for 30 days following the event. For more information, please visit Investors | Ocugen, Inc.

About Ocugen, Inc.
Ocugen, Inc. is a pioneering biotechnology leader in gene therapies for blindness diseases. Our breakthrough modifier gene therapy platform has the potential to address significant unmet medical need for large patient populations through our gene-agnostic approach. Unlike traditional gene therapies and gene editing, Ocugen’s modifier gene therapies address the entire disease—complex diseases that are potentially caused by imbalances in multiple gene networks. Currently we have programs in development for inherited retinal diseases and blindness diseases affecting millions across the globe, including retinitis pigmentosa, Stargardt disease, and geographic atrophy—late-stage dry age-related macular degeneration. Discover more at www.ocugen.com and follow us on X and LinkedIn.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding qualitative assessments of available data, potential benefits, expectations for ongoing clinical trials, anticipated regulatory filings and anticipated development timelines, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations, including, but not limited to, the risks that preliminary, interim and top-line clinical trial results may not be indicative of, and may differ from, final clinical data; that unfavorable new clinical trial data may emerge in ongoing clinical trials or through further analyses of existing clinical trial data; that earlier non-clinical and clinical data and testing of may not be predictive of the results or success of later clinical trials; and that that clinical trial data are subject to differing interpretations and assessments, including by regulatory authorities. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Investor Contact:
Candice Masse
astr partners
[email protected]

June 02, 2026 07:03 ET  | Source: Ocugen

MALVERN, Pa., June 02, 2026 (GLOBE NEWSWIRE) -- Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a pioneering biotechnology leader in gene therapies for blindness diseases, today announced that the Company will present on its innovative modifier gene therapy platform at upcoming investor and industry conferences in June 2026.

Noble Capital Markets June 2026 Emerging Growth Virtual Equity Conference

Date: Thursday, June 4, 2026
Time: 2:30pm EDT

Clinical Trials at the Summit 2026

Location: Fontainebleau Las Vegas
Date: Saturday, June 13, 2026
Time: 10:19 – 10:39 am PDT
Inherited Retinal Diseases: Transforming the Future Through Innovation
Moderator: Peter Kaiser
Panelists: Lance Baldo, Paul Bresge, Eliot Lazar, George Magrath, Nathan Mata, Shankar Musunuri, Jayashree Sahni

BIO International Convention

Location: Theater 3
Date: Tuesday, June 23, 2026
Time: 11:00 am PDT

A webcast of the Noble presentation will be available under the “Events and Presentation” page of the Investors section of the Company’s website. A replay of the webcast will be available for 30 days following the event. For more information, please visit Investors | Ocugen, Inc.

About Ocugen, Inc.
Ocugen, Inc. is a pioneering biotechnology leader in gene therapies for blindness diseases. Our breakthrough modifier gene therapy platform has the potential to address significant unmet medical need for large patient populations through our gene-agnostic approach. Unlike traditional gene therapies and gene editing, Ocugen’s modifier gene therapies address the entire disease—complex diseases that are potentially caused by imbalances in multiple gene networks. Currently we have programs in development for inherited retinal diseases and blindness diseases affecting millions across the globe, including retinitis pigmentosa, Stargardt disease, and geographic atrophy—late-stage dry age-related macular degeneration. Discover more at www.ocugen.com and follow us on X and LinkedIn.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding qualitative assessments of available data, potential benefits, expectations for ongoing clinical trials, anticipated regulatory filings and anticipated development timelines, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations, including, but not limited to, the risks that preliminary, interim and top-line clinical trial results may not be indicative of, and may differ from, final clinical data; that unfavorable new clinical trial data may emerge in ongoing clinical trials or through further analyses of existing clinical trial data; that earlier non-clinical and clinical data and testing of may not be predictive of the results or success of later clinical trials; and that that clinical trial data are subject to differing interpretations and assessments, including by regulatory authorities. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Investor Contact:
Candice Masse
astr partners
[email protected]

Key Takeaways OCGN expects key OCU400 and OCU410ST data in 2027, with filings targeted through 2028.OCGN raised capital and says its May 2026 financing extends cash runway into 2028.OCGN has no approved products and faces dilution, cash burn, and regulatory execution risks. Ocugen (OCGN - Free Report) is pushing three eye gene therapy programs toward late-stage regulatory timelines, setting up a catalyst-heavy stretch in 2026 and 2027. That opportunity comes with familiar biotech trade-offs. The company has no approved products, spends heavily to move trials forward, and has leaned on capital markets to extend its runway. The key question is whether upcoming clinical milestones justify the dilution and execution risk.

OCGN Q1 2026 Loss, Sales, and Expense TrendsOcugen posted a first-quarter 2026 loss of 6 cents per share, wider than both the year-ago loss of 5 cents per share and the Zacks Consensus Estimate.

Revenue was a bright spot. Total revenue rose 3.5% year over year to $1.5 million, beating the Zacks Consensus Estimate of $1.0 million, with the current top line driven by collaboration revenue.

Operating costs moved higher as the company accelerated clinical development and commercial preparation. Research and development expense was $11.3 million, up 18.1% year over year, while general and administrative expense totaled $8.1 million, up 25.8%.

Ocugen’s Cash Position and Why Dilution Still MattersCash burn remains a central risk variable. First-quarter 2026 operating cash use was $21.8 million, underscoring the pressure to keep funding the pipeline while trials and filings ramp.

Ocugen bolstered liquidity through multiple actions. In the first quarter, it raised $37.5 million in gross proceeds, including $22.5 million from a registered direct offering and $15.0 million from warrant exercises. Cash, cash equivalents, and restricted cash increased to $32.2 million as of March 31, 2026, up from $18.9 million at the end of 2025.

The bigger step came in May 2026, when Ocugen completed a convertible senior notes financing that raised $130 million after the full exercise of an overallotment option, with net proceeds of about $112.6 million. The company used a portion of the proceeds to fully repay its Avenue Capital loan and related obligations, and management said the financing extends the cash runway into 2028.

OCGN Gene Therapy Upside Into 2027 and BeyondOcugen’s upside case is built around a synchronized sequence of late-stage milestones across three ocular programs. Enrollment is complete in the phase III liMeliGhT study for OCU400 in retinitis pigmentosa, with top-line data expected in the first quarter of 2027.

On the Stargardt disease program, OCU410ST has completed enrollment and dosing in the phase II/III GARDian3 pivotal confirmatory study. Ocugen expects interim data in the third quarter of 2026 and top-line data in the second quarter of 2027, with a biologics license application filing planned for mid-2027.

For geographic atrophy, Ocugen plans to initiate a registrational phase III study of OCU410 in the third quarter of 2026. That keeps the company aligned with its goal of filing three biologics license applications by 2028.

Ocugen’s GA Data Versus Current Options in Dry AMDIn geographic atrophy secondary to dry age-related macular degeneration, Ocugen’s phase II ArMaDa readout supports its dose strategy heading into the planned registrational study. At 12 months, the intended medium dose produced a statistically significant 31% reduction in lesion growth versus control, along with 27% ellipsoid zone preservation.

Earlier 12-month data also pointed to a stronger signal: a 46% lesion growth reduction across the medium- and high-dose groups, and a 54% lesion reduction for the medium dose versus control.

Dose selection matters because the phase III design will likely lean on the dose that best balances efficacy and consistency. Ocugen has identified the medium dose as the optimal dose intended for phase III development, which is a key execution point as the program moves from signal generation to a registrational setting.

For context, today’s approved geographic atrophy therapies include Syfovre from Apellis Pharmaceuticals, which was recently acquired by Biogen (BIIB - Free Report)  and Izervay from Astellas Pharma (ALPMY - Free Report) , both approved in 2023, and both delivered via repeated intravitreal injections.

OCGN Valuation Multiples and What Investors Are Pricing InOcugen trades at a premium sales multiple that reflects high optionality. The shares are valued at 46.05X forward 12-month sales per share, versus 1.96X for the Zacks sub-industry, 2.13X for the Zacks sector, and 5.27X for the S&P 500.

That premium also needs to be framed against volatility. Over the past five years, the stock has traded as high as 501.84X and as low as 2.08X, with a five-year median of 73.70X.

Performance metrics reinforce the same message. The shares were down 0.7% year to date but up 51% over the past year, signaling that investors are already discounting the possibility of meaningful inflection points around 2027 and 2028 milestones.

Ocugen Decision Checklist for Risk-Tolerant InvestorsThe clearest “green lights” are operational. Ocugen has late-stage alignment across OCU400, OCU410ST, and OCU410, with planned phase III execution and filings that support the stated goal of three biologics license applications by 2028, alongside management’s stated runway extension into 2028.

The “red flags” are equally direct. The company has no approved products, revenue is currently collaboration-driven, cash burn is heavy, and the capital structure now includes convertible notes that can create dilution risk if converted, alongside added leverage. Past regulatory delays, such as the earlier clinical hold on OCU200, also show how timelines can slip.

A milestone-based approach fits this setup. In 2026, investors can watch for the planned phase III start for OCU410 in the third quarter, the OCU400 rolling biologics license application timing in the third quarter, and interim data for OCU410ST in the third quarter. In 2027, the most important swing factors are top-line data from OCU400 in the first quarter and OCU410ST in the second quarter.

OCGN’s Zacks RankOcugen currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A month has gone by since the last earnings report for Ocugen (OCGN - Free Report) . Shares have lost about 10.7% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Ocugen due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for Ocugen, Inc. before we dive into how investors and analysts have reacted as of late.

Q1 Loss Wider Than Expected, Sales Beat EstimatesOcugen incurred a loss of 6 cents per share in the first quarter of 2026, wider than the Zacks Consensus Estimate as well as the year-ago loss of 5 cents.

Ocugen’s total revenues rose 3.5% year over year to $1.5 million in the first quarter, beating the Zacks Consensus Estimate of $1 million.

The company’s top line currently comprises only collaboration revenues

Q1 Results in DetailOcugen’s operating expenses increased during the quarter as the company accelerated clinical development and commercial preparation activities.

Research and development expenses were $11.3 million, up 18.1% from the year-ago quarter’s level. General and administrative expenses totaled $8.1 million, up 25.8% year over year.

The company raised $37.5 million in gross proceeds during the first quarter of 2026, including $15 million from investors exercising their warrants. As a result, its cash, cash equivalents, and restricted cash increased to $32.2 million as of March 31, 2026, up from $18.9 million at the end of 2025.

Following the $115 million offering of convertible senior notes, the company expects to have approximately $112.1 million in cash, cash equivalents, and restricted cash when the transaction closes, which includes the Avenue debt payoff.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a upward trend in fresh estimates.

The consensus estimate has shifted 6.25% due to these changes.

VGM ScoresAt this time, Ocugen has a subpar Growth Score of D, a score with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a score of F on the value side, putting it in the fifth quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Ocugen has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerOcugen is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Axsome Therapeutics (AXSM - Free Report) , a stock from the same industry, has gained 4.9%. The company reported its results for the quarter ended March 2026 more than a month ago.

Axsome reported revenues of $191.2 million in the last reported quarter, representing a year-over-year change of +57.4%. EPS of -$1.26 for the same period compares with -$0.80 a year ago.

Axsome is expected to post a loss of $0.83 per share for the current quarter, representing a year-over-year change of +9.8%. Over the last 30 days, the Zacks Consensus Estimate has changed -15.5%.

Axsome has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.

SAN FRANCISCO, March 19, 2026 (GLOBE NEWSWIRE) -- Counterpart Health, Inc. (“Counterpart”), a wholly owned subsidiary of Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover,” “Clover Health” or the “Company”), and a leading AI-powered physician-enablement platform today released a whitepaper titled “Driving Clinical Excellence in Chronic Disease: Counterpart Assistant’s Role in Flu Preventative Care.” The analysis examines the role of CA’s real-time clinical insights on immunization rates and flu-related acute care utilization within Clover Health’s Medicare Advantage (MA) population.

Influenza remains a major cause of morbidity among Medicare beneficiaries, with 90% to 95% of flu-related hospitalizations occurring in adults with underlying chronic conditions. For vulnerable populations, a single respiratory infection can lead to permanent functional decline. By fusing dozens of health-data streams with up-to-date clinical guidelines, CA delivers real-time recommendations that help Primary Care Physicians (PCPs) mitigate these risks.

Key highlights from the whitepaper:

CA promotes preventive care insights at the point of care by identifying patients eligible for flu vaccination and providing clinical recommendations to the provider. Analysis indicates that patients having a relationship with a PCP that uses CA (CA PCPs) were 1.39 times more likely to be vaccinated than those in the Non-CA cohort. Furthermore, patients whose providers completed the in-platform flu insight were 1.89 times more likely to be vaccinated than those in the CA cohort whose providers did not engage with the task.A relationship with a CA PCP was also associated with a lower rate of flu-related acute care utilization (inpatient hospitalizations and ED visits) for patients with certain high-risk chronic diseases. For patients with chronic obstructive pulmonary disease (COPD), such a relationship was associated with a 17% lower incidence rate of a patient experiencing at least one flu-related acute care event. Similarly, for patients with congestive heart failure (CHF), such a relationship was associated with an 11% lower incidence rate.A relationship with a CA PCP was also associated with a lower total volume of flu-related acute care encounters across these high-risk groups. For COPD patients, such a relationship was associated with 22% fewer flu-related acute care encounters. Similarly, for congestive heart failure patients, such a relationship was associated with 18% fewer flu-related encounters. “This analysis shows what happens when primary care physicians have timely, actionable information at the point of care,” said Dr. David Tsay, MD, PhD, Chief Medical Officer at Counterpart Health and co-author of the whitepaper. “By prompting preventive action during the visit, CA helps clinicians increase immunization rates and reduce avoidable acute events, particularly for patients with complex chronic conditions.”

The data also reflects a lower incidence rate and lower total volume of flu-related acute care utilization among COPD and CHF patients attributed to a PCP who utilizes CA. This notable difference in hospitalizations and emergency department visits strongly suggests that CA helps support a crucial shift toward proactive and longitudinal care strategies. By helping PCPs reduce the incidence rate of acute events, CA enables lower clinical risk for adverse outcomes in vulnerable populations where a single respiratory infection can lead to permanent functional decline.

“The reductions in flu-related hospitalizations and emergency visits among high-risk patients reflect what we’ve seen within Clover Health’s Medicare Advantage population,” said Conrad Wai, CEO of Counterpart Health. “Equipping primary care with timely, actionable insights enables earlier intervention, fewer avoidable acute events, and lower total cost of care. It’s not plan-specific. It’s a scalable model enabling effective value-based care."

Counterpart Health continues to expand CA’s capabilities to support preventive care, chronic disease management, and value-based performance across Medicare populations. By embedding actionable intelligence directly into the clinical workflow, CA enables plans and providers to shift from reactive treatment to proactive care.

To learn more about Counterpart Health, visit: www.counterparthealth.com.

About Counterpart Health

Counterpart Health, a subsidiary of Clover Health Investments, Corp., or Clover Health, is a leading AI-powered physician enablement platform transforming care delivery. Born out of Clover Health as Clover Assistant, Counterpart Health’s flagship software platform, Counterpart Assistant, provides clinically intuitive insights that help clinicians better manage chronic conditions and deliver high-quality care. Counterpart Health extends this powerful data-driven technology platform beyond Clover Health’s Medicare Advantage plan, bringing its benefits to a wider audience to improve patient outcomes and reduce healthcare costs nationwide. Several published studies demonstrate the technology’s impact on Diabetes, Chronic Kidney Disease, Congestive Heart Failure, and Chronic Obstructive Pulmonary Disease management, as well as Clinical Quality and Underserved Patient Populations.

About Clover Health:
Clover Health (Nasdaq: CLOV) is a physician enablement technology company committed to bringing access to great healthcare to everyone on Medicare. This includes a focus on seniors who have historically lacked access to affordable, high-quality healthcare. Our strategy is powered by our software platform, Clover Assistant, which is designed to aggregate patient data from across the healthcare ecosystem to support clinical decision-making and improve health outcomes through the early identification and management of chronic disease. For our members, we provide PPO and HMO Medicare Advantage plans in several states, with a differentiated focus on our flagship wide-network, high-choice PPO plans. For healthcare providers outside Clover Health's Medicare Advantage plan, we extend the benefits of our data-driven technology platform to a wider audience via our subsidiary, Counterpart Health, and aim to enable enhanced patient outcomes and reduced healthcare costs on a nationwide scale.
Visit: www.cloverhealth.com

Investor Relations:
Ryan Schmidt
[email protected]

Press Inquiries:
[email protected]

WILMINGTON, Del., April 01, 2026 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover” or the “Company”), a physician enablement company committed to bringing access to great healthcare to everyone on Medicare, today announced that Peter Kuipers is stepping down as the Chief Financial Officer of the Company, effective March 30, 2026. Mr. Kuipers will remain with the Company in an advisory capacity through April 24, 2026 to support a smooth transition and handoff. Mr. Kuipers and the Company noted that his departure does not reflect any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

The Board of Directors has appointed Clay Thornton, the current Chief Financial Officer of Clover’s insurance plan, as Interim Chief Financial Officer, effective immediately. In addition, the Company reiterates its most recently issued financial guidance for the full fiscal year 2026, which was updated as part of its earnings release on February 26, 2026.

“I am honored to have served Clover and proud of what our team has accomplished during my tenure,” said Mr. Kuipers. “Together, we built a strong financial and operating foundation for the company, with a focus on execution, operational efficiency, disciplined capital allocation, and long-term value creation. I have great confidence in Clover’s future and in the leadership team, and I am committed to ensuring a smooth transition. I look forward to seeing the company continue to build on this foundation and achieve even more in the years ahead.”

Andrew Toy, Clover’s Chief Executive Officer, said, “I want to thank Peter for his contributions to Clover and for the role he has played in helping position the Company for this next chapter. He has been instrumental in helping Clover achieve sustainable profitability while achieving above market growth. He has helped lay the foundation that positions Clover well for the next phase of the Company’s development, and we are grateful for his leadership and commitment. We also appreciate his support in ensuring a seamless transition.”

Mr. Toy continued, “I am very excited to have Clay take on this new role. He is a trusted partner to me and to our leadership team. As Divisional CFO of our insurance plan, he’s already deeply involved in the day to day finances of the business and knows both Medicare Advantage, and Clover's unique approach to it, very well. He brings the judgment, operating discipline, and industry experience that give us real confidence in this transition.”

Mr. Thornton brings deep experience across Medicare Advantage, value-based care, and healthcare finance. Prior to joining Clover, Mr. Thornton held numerous financial and strategic leadership roles within Medicare Advantage at Humana, along with roles in venture capital and private equity finance. He holds a bachelor’s degree in finance and economics from the University of Kentucky and an MBA from the University of Louisville.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding future events and Clover Health's future results of operations, financial condition, market size and opportunity, business strategy and plans, and the factors affecting our performance and our objectives for future operations. Forward-looking statements are not guarantees of future performance and you are cautioned not to place undue reliance on such statements. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "can," "could," "should," "would," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "outlook," "forecast," "guidance," "objective," "plan," "seek," "grow," "if," "continue" or the negative of these words or other similar terms or expressions that concern Clover Health's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this press release include, but are not limited to, the following: statements referred to in our February 26, 2026 earnings release under "Financial Guidance" and “2026 Financial Guidance” and statements regarding expectations relating to potential improvements in revenues, operating expenses, Consolidated Gross profit, Adjusted SG&A, and the number of Clover Health's Insurance members, as well as the statements contained in the quotations of our executive officers, and other expectations as to future performance, operations and results (including our guidance for full year 2026). Statements regarding our GAAP Net Income, Consolidated Gross profit, and Adjusted EBITDA profitability are also forward-looking, and are based on our current targets which are preliminary and are derived from our 2026 financial guidance. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by forward-looking statements in this press release. Forward-looking statements involve a number of judgments, risks and uncertainties, including, without limitation, risks related to: our expectations regarding results of operations, financial condition, and cash flows; our expectations regarding the development and management of our business; any current, pending, or future legislation, regulations or policies that could have a negative effect on our revenue, profit margins, cash flows and business, including rules, regulations and policies relating to healthcare, Medicare generally and medical loss ratios; our ability to successfully enter new service markets and manage our operations; anticipated trends and challenges in our business and in the markets in which we operate; our ability to effectively manage our beneficiary base and provider network; our ability to maintain and increase adoption and use of Clover Assistant, including the expansion of Clover Assistant for external payors and providers under the brand name Counterpart Assistant; the anticipated benefits associated with the use of Clover Assistant, including our ability to utilize the platform to manage our medical expenses; our ability to maintain or improve our Star Ratings or otherwise continue to improve the financial performance of our business; our ability to develop new features and functionality that meet market needs and achieve market acceptance; our ability to retain and hire necessary employees and staff our operations appropriately; the timing and amount of certain investments in growth; the outcome of any known and unknown litigation and regulatory proceedings; our ability to maintain, protect, and enhance our intellectual property; general economic conditions and uncertainty; persistent high inflation and fluctuating interest rates; and geopolitical uncertainty and instability. Additional information concerning these and other risk factors is contained under Item 1A. “Risk Factors” in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 27, 2026, as such risks may be updated in our subsequent filings with the SEC. The forward-looking statements included in this press release are made as of the date hereof. Except as required by law, Clover Health undertakes no obligation to update any of these forward-looking statements after the date of this press release or to conform these statements to actual results or revised expectations.

About Clover Health

Clover Health (Nasdaq: CLOV) is a physician enablement technology company committed to bringing access to great healthcare to everyone on Medicare. This includes a focus on seniors who have historically lacked access to affordable, high-quality healthcare. Our strategy is powered by our software platform, Clover Assistant, which is designed to aggregate patient data from across the healthcare ecosystem to support clinical decision-making and improve health outcomes through the early identification and management of chronic disease. For our members, we provide PPO and HMO Medicare Advantage plans in several states, with a differentiated focus on our flagship wide-network, high-choice PPO plans. For healthcare providers outside Clover Health's Medicare Advantage plan, we extend the benefits of our data-driven technology platform to a wider audience via our subsidiary, Counterpart Health, and aim to enable enhanced patient outcomes and reduced healthcare costs on a nationwide scale. Clover Health has published data demonstrating the technology’s impact on Medication Adherence, Congestive Heart Failure, Chronic Obstructive Pulmonary Disease, and in Underserved Populations as well as the earlier identification and management of Diabetes and Chronic Kidney Disease.

Press Contact:
[email protected]

Investor Relations Contact:
Ryan Schmidt
[email protected]

WILMINGTON, Del., April 07, 2026 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover,” “Clover Health” or the “Company”), a physician enablement company committed to bringing access to great healthcare to everyone on Medicare, in partnership with HealthEx, today announced a new collaboration that enables Clover Medicare Advantage (MA) members to securely access and share clinical records and claims data, further advancing patients rights to access and share their own health data, which is central to federal interoperability efforts. Through HealthEx, Clover members can choose to connect their health information to tools like Claude so they can better understand and navigate their care.

The new collaboration builds on Clover Health’s recently announced live interoperability work with Kno2 and extends member access through infrastructure powered by Counterpart Health, Clover Health’s technology and services business. That same infrastructure provides a scalable foundation that can support similar interoperability capabilities for other health plans.

For many individuals, health information remains fragmented across providers, hospitals, health systems, and health plans. Through HealthEx, Clover members can verify their identity, authorize access to their records, and securely retrieve clinical records and claims data through a streamlined experience, without needing to navigate multiple portals or log in to separate systems. By bringing these data sources together, members gain a more complete view of their clinical records and claims data, which they can share with trusted providers, digital health applications, care navigation tools, AI platforms, and other participating organizations-with each entity governed by its own privacy policy and terms of service.

Counterpart Health powers the interoperability infrastructure behind this capability, enabling the secure exchange of member data for Clover Health and creating a scalable foundation for other health plans seeking to participate in interoperability networks. HealthEx adds the identity, consent, and consumer-facing experience that helps individuals put that access into practice.

“We believe individuals should have simple, secure access to their health information and greater control over how it is used,” said Kevin Holub, Chief Product Officer at Counterpart Health. “This new capability and our partnership with HealthEx builds on the interoperability foundation we have already put into production and shows how infrastructure powered by Counterpart Health can help Clover Health empower members and deliver a more streamlined experience by eliminating the need to navigate multiple portals or separate logins.”

“Clover Health is demonstrating what member-directed access can look like in practice,” said Priyanka Agarwal, M.D., MBA, co-founder and CEO of HealthEx. “By enabling members to access claims data alongside clinical records, Clover Health, Counterpart Health, and HealthEx are helping create a more complete and portable health record that individuals can use across the healthcare ecosystem.”

This function is now live and Clover will educate members on using this tool to direct their own data–putting the patient in control of their health information.

About Clover Health:
Clover Health (Nasdaq: CLOV) is a physician enablement technology company committed to bringing access to great healthcare to everyone on Medicare. This includes a focus on seniors who have historically lacked access to affordable, high-quality healthcare. Our strategy is powered by our software platform, Clover Assistant, which is designed to aggregate patient data from across the healthcare ecosystem to support clinical decision-making and improve health outcomes through the early identification and management of chronic disease. For our members, we provide PPO and HMO Medicare Advantage plans in several states, with a differentiated focus on our flagship wide-network, high-choice PPO plans. For healthcare providers outside Clover Health's Medicare Advantage plan, we extend the benefits of our data-driven technology platform to a wider audience via our subsidiary, Counterpart Health, and aim to enable enhanced patient outcomes and reduced healthcare costs on a nationwide scale.
Visit: www.cloverhealth.com

About Counterpart Health:
Counterpart Health, a subsidiary of Clover Health Investments, Corp., or Clover Health, is a leading AI-powered physician enablement platform transforming care delivery. Born out of Clover Health as Clover Assistant, Counterpart Health’s flagship software platform, Counterpart Assistant, provides clinically intuitive insights that help clinicians better manage chronic conditions and deliver high-quality care. Counterpart Health extends this powerful data-driven technology platform beyond Clover Health’s Medicare Advantage plan, bringing its benefits to a wider audience to improve patient outcomes and reduce healthcare costs nationwide. Several published studies demonstrate the technology’s impact on Diabetes, Chronic Kidney Disease, Congestive Heart Failure, and Chronic Obstructive Pulmonary Disease management, as well as Clinical Quality and Underserved Patient Populations.

About HealthEx
HealthEx lets individuals instantly and securely access and share their health records at the moments that matter, with all actions grounded in digital identity and explicit consent. Linking digital identity, real-time health records access, and consent infrastructure, HealthEx is delivering a future where health data moves seamlessly and responsibly - powering a new era of consumer-driven healthcare. Learn more at healthex.io.

Investor Relations:
Ryan Schmidt
[email protected]

Press Inquiries:
[email protected]

Key Takeaways Clover sees growth from strong membership gains and its AI-powered care model.CLOV posted 38% Medicare Advantage enrollment growth and expects GAAP profitability in 2026.CLOV faces margin pressure from rising medical costs and risks tied to regulation and tech scaling. Clover Health Investments (CLOV - Free Report) is well poised for growth in the coming quarters, courtesy of its broad product spectrum. This optimism is primarily driven by its technology-first care model, as evident from solid membership growth, rising revenues and sustained adjusted EBITDA profitability. However, elevated medical costs, margin pressure and execution risks in scaling Clover Assistant present near-term challenges.

Shares of this Zacks Rank #3 (Hold) company have lost 18.3% in the year-to-date period compared with the industry’s 25.9% decline and the S&P 500 Index’s 3.7% fall.

Clover, a tech-enabled Medicare Advantage insurer leveraging its proprietary AI-powered platform, has a market capitalization of $996.87 million. The company projects 40% earnings growth for the first quarter of 2026.

Its earnings surpassed estimates in one of the trailing four quarters, missed one and met the other two, delivering an average surprise of 17.86%.

Image Source: Zacks Investment Research

Factors Favoring CLOV StockStrong Membership Growth & Star Ratings Momentum: Clover reported strong membership gains in fourth-quarter 2025, with Medicare Advantage enrollment up 38% year over year. Total insurance membership reached more than 113,803, marking a 4.4% rise from the previous quarter. The company secured a 4-Star rating from CMS for its flagship PPO plan, which covers over 95% of members. This rating unlocks higher-quality bonus payments and improves plan economics. It also supports future enrollment growth. With competitive benefits and lower out-of-pocket costs in underserved markets, Clover is building a cycle of growth driven by steady enrollment, stronger retention and added bonus revenues, which should support revenue expansion and operating efficiency over time.

Adjusted EBITDA Profitability Momentum: Clover showed solid financial progress, generating $22 million in adjusted EBITDA in 2025. This reflects disciplined cost management, improved control over medical expenses and gains from workforce optimization and changes in its operating structure.

For 2026, the company expects its first full year of GAAP net income profitability, with guidance ranging from breakeven to $20 million and adjusted EBITDA between $50 million and $70 million. A major tailwind is the 4-star payment year, which benefits 97% of members in its PPO plan. Other drivers include a favorable Part C rate notice, deeper use of Clover Assistant, higher PCP adoption and growth focused on core markets where integration is strongest.

Management pointed to better economics for new members through more efficient acquisition channels, improvements in Part D and actions taken to address higher dental and DME usage seen in 2025. Continued SG&A leverage and scale benefits should support margin expansion.

Strategic Positioning & Long-Term Durability: Clover believes its model aligns well with changes in the Medicare Advantage landscape. Its approach centers on claims-linked documentation and real-time physician workflows powered by Clover Assistant. This reduces reliance on rate increases or star ratings to drive profitability. Instead, the company focuses on cost discipline and clinical integration, which can make performance more stable across policy cycles.

Looking ahead to 2027, Clover plans to maintain leadership in New Jersey, where it is the largest individual non-special needs PPO plan, and scale its technology platform. It aims to expand its technology platform through Counterpart Health, with a goal of reaching parity between Counterpart Assistant and Clover Assistant in terms of lives managed, positioning technology as a parallel long-term growth engine.

Key Challenges for CLOV StockElevated Insurance Benefit Expense Ratio: Clover reported an Insurance Benefit Expense Ratio (BER) of 90.9% in 2025, up 970 basis points from the prior year. This reflects strong healthcare usage among members but also highlights pressure on margins.

A key factor was the launch of a Clover Assistant-enabled affiliated entity aimed at improving care coordination. While important for long-term outcomes, it added near-term costs. Expenses also rose due to seasonal trends and higher inpatient usage earlier in the quarter.

As the company grows, improving BER will depend on gaining efficiencies from its technology-driven care model and maintaining tighter control over medical costs. This is significantly important amid ongoing risk adjustment changes and competitive dynamics within Medicare Advantage.

Regulatory & Policy Dependence: Clover operates within a regulated Medicare Advantage environment, where changes in risk adjustment, rate notices and policy direction can affect results. The company has managed transitions such as HCC v28 and recent rate updates, but the broader environment remains subject to political and regulatory shifts.

The U.S. government’s recent “Big Beautiful Bill” introduces automatic Medicare spending cuts of 4%, with total reductions estimated at $500 billion over eight years starting in 2026. These cuts may affect Medicare funding levels and reimbursement trends. The bill also includes Medicaid reductions, which could impact low-income beneficiaries who rely on Medicaid for supplemental coverage. Around 1.3 million people may lose Medicaid support, which could affect enrollment mix and revenue visibility for Clover.

Estimate TrendClover is witnessing a stable estimate revision trend for 2026. In the past 30 days, the Zacks Consensus Estimate for earnings has remained stable at 8 cents per share.

The Zacks Consensus Estimate for full-year 2026 earnings per share is pegged at 8 cents.

Stocks to ConsiderSome better-ranked stocks from the broader medical space are Inspire Medical Systems (INSP - Free Report) , Phibro Animal Health (PAHC - Free Report) and GE HealthCare Technologies (GEHC - Free Report) .

Inspire Medical Systems, sporting a Zacks Rank #1 (Strong Buy) at present, reported fourth-quarter 2025 adjusted earnings per share (EPS) of $1.65, beating the Zacks Consensus Estimate by 139.1%. Revenues of $269.1 million were in line with the Zacks Consensus Estimate. You can see the complete list of today’s Zacks #1 Rank stocks here.

INSP’s earnings per share estimate for 2026 has moved up 19 cents to $1.91 in the past 60 days. The company beat earnings estimates in the trailing four quarters, the average surprise being 185.1%.

Phibro Animal Health, currently carrying a Zacks Rank #2 (Buy), reported second-quarter fiscal 2026 adjusted EPS of 87 cents, which surpassed the Zacks Consensus Estimate by 26.1%. Revenues of $373.9 million beat the Zacks Consensus Estimate by 4.7%.

PAHC’s earnings per share estimate for 2026 has moved up 6 cents to $3.03 in the past 60 days. The company’s earnings beat estimates in the trailing four quarters, the average surprise being 20.1%.

GE HealthCare Technologies, currently carrying a Zacks Rank #2, reported fourth-quarter 2025 adjusted EPS of $1.44, which surpassed the Zacks Consensus Estimate by 0.7%. Revenues of $5.7 billion beat the Zacks Consensus Estimate by 1.9%.

GEHC’s earnings per share estimate for 2026 has moved up 1 cent to $5 in the past 60 days. The company beat earnings estimates in the trailing four quarters, the average surprise being 7.5%.

Business Highlights:

Delivered positive GAAP Net Income in the first quarter of 2026, with strong performance across key metrics: Total revenues, Adjusted EBITDA, and Consolidated Gross ProfitMarket-leading Medicare Advantage membership growth with underlying trends tracking in line with expectationsExpect to meet or exceed full year 2026 outlook across all metrics, including achieving first full year GAAP Net Income profitability
Financial Results:

First quarter 2026 GAAP Net Income of $27 million, an improvement of $29 million year-over-yearFirst quarter 2026 Medicare Advantage membership of 155,773, up 51% year-over-year, and Total revenues of $749 million, up 62% year-over-yearFirst quarter 2026 Consolidated Gross Profit of $160 million, up 47% year-over-year, and Adjusted EBITDA of $40 million, up 56% year-over-year
Full Year 2026 Guidance:

Average Medicare Advantage membership of 154,000 - 158,000, representing 46% growth year-over-year at the midpointTotal revenues between $2.81 billion and $2.92 billion, representing 49% growth year-over-year at the midpointConsolidated Gross Profit between $470 million and $510 million, representing 38% growth year-over-year at the midpointAdjusted EBITDA profitability between $50 million and $70 millionGAAP Net Income between $0 million and $20 million
WILMINGTON, Del., May 06, 2026 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover,” “Clover Health” or the “Company”), today reported financial results for the first quarter 2026. Management will host a conference call today at 5:00 p.m. ET to discuss its operating results and other business highlights.

“Our results demonstrate the differentiated model we have built to drive growth and profitability while expanding access to high-quality, affordable care through a wide-network PPO,” said Clover Health CEO Andrew Toy. “During the first quarter, we delivered strong performance across key metrics, driven by deeper clinical engagement, with Clover Assistant supporting earlier intervention and better outcomes for our members. As we continue to scale our technology to reach more members, we expect to achieve our first full year of GAAP Net Income profitability in 2026.”

“We achieved positive GAAP Net Income in the first quarter of 2026 while continuing to grow at a market-leading rate,” said Clover Health Interim CFO Clay Thornton. “Results are developing in line with our expectations, and we are encouraged by early medical cost trend indicators across both new and returning cohorts. We expect to meet or exceed our full year 2026 outlook across all metrics, including our expectation to deliver GAAP Net Income profitability.”

Key Company highlights are as follows:

  Three Months Ended
March 31,Dollars in Millions  2026   2025  Change (%)Consolidated:      Total revenues $749.2  $462.3  62.1%Consolidated Gross profit(1) $159.5  $108.9  46.5%Salaries and benefits plus General and administrative expenses ("SG&A") $131.7  $109.7  20.1%Adjusted Salaries and benefits plus General and administrative expenses ("Adjusted SG&A")(2) $119.3  $83.1  43.6%Adjusted SG&A as a % of Total revenues  15.9%  18.0% (210) bpsNet income (loss) $27.3  $(1.3) N/A*Adjusted EBITDA(2) $40.3  $25.8  56.2%Adjusted Net income(2) $39.7  $25.3  56.9%Total cash, cash equivalents, and investments $418.2  $390.8  7.0%Insurance Segment:      Average Medicare Advantage membership(5)  154,607   101,959  51.6%Insurance revenue $744.2  $456.9  62.9%Insurance net medical claims incurred $610.0  $367.9  65.8%Insurance BER(3)  86.5%  86.1% 40 bps *Not presented as a % change because the current or prior period amount is zero or the amount for the line item changed from a gain to a loss (or vice versa) and thus yields a result that is not meaningful.
1 Consolidated Gross profit (Non-GAAP) is a non-GAAP financial measure and is calculated by taking net income (loss) before salaries and benefits, general and administrative expenses, depreciation and amortization, premium deficiency reserve expense, restructuring costs, impairment of goodwill and other intangible assets, interest expense, change in fair value of warrants, and loss on investment. A reconciliation of Consolidated Gross profit (Non-GAAP) to Net income, the most directly comparable GAAP measure is provided in the table immediately following the consolidated financial statements below. A reconciliation of projected Consolidated Gross profit is not provided because certain items that are inherently uncertain and difficult to predict, including the reconciliation items included above, which are excluded from Consolidated Gross profit (Non-GAAP), cannot be reasonably calculated or predicted at this time without unreasonable efforts. Additional information about the Company's Non-GAAP financial measures can be found under the caption "About Non-GAAP Financial Measures" below and in Appendix A.
2 Adjusted SG&A (Non-GAAP), Adjusted EBITDA (Non-GAAP), and Adjusted Net income (Non-GAAP) are Non-GAAP financial measures. Reconciliations of Adjusted SG&A (Non-GAAP) to SG&A, Adjusted EBITDA (Non-GAAP) to Net income, and Adjusted Net income (Non-GAAP) to Net income, respectively, the most directly comparable GAAP measures, are provided in the tables immediately following the consolidated financial statements below. Additional information about the Company's Non-GAAP financial measures can be found under the caption "About Non-GAAP Financial Measures" below and in Appendix A.
3 Insurance Benefits Expense Ratio (“BER”) is a Non-GAAP financial measure. A reconciliation of Insurance BER to Insurance Net medical claims incurred, net, the most directly comparable GAAP measure, is provided in a table immediately following the consolidated financial statements below. Additional information about the Company's Non-GAAP financial measures can be found under the caption "About Non-GAAP Financial Measures" below and in Appendix A. The Company has discontinued disclosure of Normalized Insurance Benefits Expense Ratio beginning in the first quarter of 2026, as management no longer uses this metric to evaluate operating performance or allocate resources. The Company will continue to present Insurance Benefits Expense Ratio.
4 A reconciliation of projected Adjusted EBITDA (Non-GAAP) to Net income (loss), the most directly comparable GAAP measure, is not provided because Stock-based compensation, which is excluded from Adjusted EBITDA (Non-GAAP), cannot be reasonably calculated or predicted at this time without unreasonable efforts. Additional information about the Company's Non-GAAP financial measures can be found under the caption “About Non-GAAP Financial Measures” below and in Appendix A.
5 Average Medicare Advantage membership represents the average membership during the three months included in the first quarter of 2026.

2026 Financial Guidance

 2026 GuidanceTotal revenues$2.81 billion - $2.92 billionConsolidated Gross profit(1)$470 million - $510 millionAdjusted EBITDA(4)$50 million - $70 millionGAAP Net income$0 million - $20 millionAverage Medicare Advantage membership154,000 - 158,000   Lives under Clover Management

 March 31, 2026 March 31, 2025Insurance members155,773 103,418     Earnings Conference Call Details

Clover Health’s management will host a conference call to discuss its financial results on Wednesday, May 6, 2026, at 5:00 PM Eastern Time. A live audio webcast will also be available online and you may register at: https://clover-health-1q26-earnings-call.open-exchange.net/ and related presentation materials will be available at Clover Health’s Investor Relations website at investors.cloverhealth.com. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link and at Clover Health’s Investor Relations website at investors.cloverhealth.com, and will remain available for approximately 12 months.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding future events and Clover Health's future results of operations, financial condition, market size and opportunity, business strategy and plans, and the factors affecting our performance and our objectives for future operations. Forward-looking statements are not guarantees of future performance and you are cautioned not to place undue reliance on such statements. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "can," "could," "should," "would," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "outlook," "forecast," "guidance," "objective," "plan," "seek," "grow," "if," "continue" or the negative of these words or other similar terms or expressions that concern Clover Health's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this press release include, but are not limited to, the following: statements under "2026 Financial Guidance" and statements regarding expectations relating to potential improvements in revenues, Consolidated Gross profit, Adjusted SG&A, and the number of Clover Health's Insurance members, as well as the statements contained in the quotations of our executive officers, and other expectations as to future performance, operations and results (including our guidance for full year 2026). Statements regarding our GAAP Net Income, Consolidated Gross profit, and Adjusted EBITDA profitability are also forward-looking, and are based on our current targets which are preliminary and are derived from our 2026 financial guidance. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by forward-looking statements in this press release. Forward-looking statements involve a number of judgments, risks and uncertainties, including, without limitation, risks related to: our expectations regarding results of operations, financial condition, and cash flows; our expectations regarding the development and management of our business; any current, pending, or future legislation, regulations or policies that could have a negative effect on our revenue, profit margins, cash flows and business, including rules, regulations and policies relating to healthcare, Medicare generally and medical loss ratios; our ability to successfully enter new service markets and manage our operations; anticipated trends and challenges in our business and in the markets in which we operate; our ability to effectively manage our beneficiary base and provider network; our ability to maintain and increase adoption and use of Clover Assistant, including the expansion of Clover Assistant for external payors and providers under the brand name Counterpart Assistant; the anticipated benefits associated with the use of Clover Assistant, including our ability to utilize the platform to manage our medical expenses; our ability to maintain or improve our Star Ratings or otherwise continue to improve the financial performance of our business; our ability to develop new features and functionality that meet market needs and achieve market acceptance; our ability to retain and hire necessary employees and staff our operations appropriately; the timing and amount of certain investments in growth; the outcome of any known and unknown litigation and regulatory proceedings; our ability to maintain, protect, and enhance our intellectual property; general economic conditions and uncertainty; persistent high inflation and fluctuating interest rates; and geopolitical uncertainty and instability. Additional information concerning these and other risk factors is contained under Item 1A. “Risk Factors” in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 27, 2026, as such risks may be updated in our subsequent filings with the SEC. The forward-looking statements included in this press release are made as of the date hereof. Except as required by law, Clover Health undertakes no obligation to update any of these forward-looking statements after the date of this press release or to conform these statements to actual results or revised expectations.

About Non-GAAP Financial Measures

We use Non-GAAP measures in this release, including Consolidated Gross profit, Adjusted SG&A, Adjusted SG&A as a percentage of Total revenues, Adjusted EBITDA, Adjusted Net income, and Insurance BER. These Non-GAAP financial measures are provided to enhance the reader's understanding of Clover Health's past financial performance and our prospects for the future. Clover Health's management team uses these Non-GAAP financial measures in assessing Clover Health's performance, as well as in planning and forecasting future periods. These Non-GAAP financial measures are not computed according to GAAP, and the methods we use to compute them may differ from the methods used by other companies. Non-GAAP financial measures are supplemental to and should not be considered a substitute for financial information presented in accordance with generally accepted accounting principles in the United States (“GAAP”) and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Readers are encouraged to review the reconciliations of these Non-GAAP financial measures to the comparable GAAP measures, which are attached to this release, together with other important financial information, including our filings with the SEC, on the Investor Relations page of our website at investors.cloverhealth.com.

For a description of these Non-GAAP financial measures, including the reasons management uses each measure, please see Appendix A: "Explanation of Non-GAAP Financial Measures."

The statements contained in this document are solely those of the authors and do not necessarily reflect the views or policies of CMS. The authors assume responsibility for the accuracy and completeness of the information contained in this document.

About Clover Health:

Clover Health (Nasdaq: CLOV) is a physician enablement technology company committed to bringing access to great healthcare to everyone on Medicare. This includes a focus on seniors who have historically lacked access to affordable, high-quality healthcare. Our strategy is powered by our software platform, Clover Assistant, which is designed to aggregate patient data from across the healthcare ecosystem to support clinical decision-making and improve health outcomes through the early identification and management of chronic disease. For our members, we provide PPO and HMO Medicare Advantage plans in several states, with a differentiated focus on our flagship wide-network, high-choice PPO plans. For healthcare providers outside Clover Health's Medicare Advantage plan, we extend the benefits of our data-driven technology platform to a wider audience via our subsidiary, Counterpart Health, and aim to enable enhanced patient outcomes and reduced healthcare costs on a nationwide scale. Clover Health has published data demonstrating the technology’s impact on Medication Adherence, Congestive Heart Failure, Chronic Obstructive Pulmonary Disease, and in Underserved Populations as well as the earlier identification and management of Diabetes and Chronic Kidney Disease.

Visit: www.cloverhealth.com

Investor Relations Contact:

Ryan Schmidt

[email protected]

Press Inquiries:

[email protected]

CLOVER HEALTH INVESTMENTS, CORP.CONDENSED CONSOLIDATED BALANCE SHEETS(Dollars in thousands, except share amounts)(unaudited)     March 31, 2026 December 31, 2025Assets   Current assets:   Cash and cash equivalents$173,265  $78,301 Short-term investments 4,294   17,047 Investment securities, available-for-sale (Amortized cost: 2026: $24,216; 2025: $23,231) 24,190   23,131 Investment securities, held-to-maturity (Fair value: 2026: $1,794; 2025: $1,779) 1,794   1,777 Accrued retrospective premiums 129,215   63,875 Healthcare receivables 73,474   94,866 Prepaid expenses 18,423   18,209 Other assets, current 23,366   10,649 Total current assets 448,021   307,855     Investment securities, available-for-sale (Amortized cost: 2026: $202,886; 2025: $186,464) 202,240   187,092 Investment securities, held-to-maturity (Fair value: 2026: $12,300; 2025: $12,495) 12,444   12,571 Property and equipment, net 6,904   6,385 Other intangible assets 2,990   2,990 Other assets, non-current 25,129   24,118 Total assets$697,728  $541,011     Liabilities and Stockholders' Equity   Current liabilities:   Unpaid claims$260,417  $153,250 Accounts payable and accrued expenses 39,170   36,211 Accrued salaries and benefits 31,230   16,038 Other liabilities, current 5,766   3,324 Total current liabilities 336,583   208,823     Other liabilities, non-current 21,719   23,484 Total liabilities 358,302   232,307 Commitments and Contingencies   Stockholders' equity:   Class A Common Stock, $0.0001 par value; 2,500,000,000 shares authorized at March 31, 2026 and December 31, 2025; 429,555,578 and 426,669,369 issued and outstanding at March 31, 2026 and December 31, 2025, respectively 43   43 Class B Common Stock, $0.0001 par value; 500,000,000 shares authorized at March 31, 2026 and December 31, 2025; 95,715,856 and 92,373,157 issued and outstanding at March 31, 2026 and December 31, 2025, respectively 9   9 Additional paid-in capital 2,695,144   2,682,663 Accumulated other comprehensive (loss) income (672)  528 Accumulated deficit (2,261,018)  (2,288,352)Less: Treasury stock, at cost; 34,977,670 and 33,412,273 shares held at March 31, 2026 and December 31, 2025, respectively (94,080)  (86,187)Total stockholders' equity 339,426   308,704 Total liabilities and stockholders' equity$697,728  $541,011  CLOVER HEALTH INVESTMENTS, CORP.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(Dollars in thousands, except per share and share amounts)(unaudited)     Three Months Ended
March 31,  2026   2025 Revenues:   Premiums earned, net (Net of ceded premiums of $92 and $95 for the three months ended March 31, 2026 and 2025, respectively)$744,189  $456,906 Other income 5,000   5,425 Total revenues 749,189   462,331     Operating expenses:   Net medical claims incurred 589,648   353,442 Salaries and benefits 57,063   59,022 General and administrative expenses 74,629   50,675 Depreciation and amortization 515   466 Total operating expenses 721,855   463,605 Income (loss) from operations 27,334   (1,274)    Net income (loss)$27,334  $(1,274)    Per share data:   Basic weighted average number of class A and class B common shares and common share equivalents outstanding 522,184,385   497,056,331 Diluted weighted average number of class A and class B common shares and common share equivalents outstanding 532,501,448   497,056,331     Basic earnings (loss) per share$0.05  $— Diluted earnings (loss) per share$0.05  $—     Net unrealized (loss) gain on available-for-sale investments (1,200)  1,510 Comprehensive income$26,134  $236  CLOVER HEALTH INVESTMENTS, CORP.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Dollars in thousands)(unaudited)  Three months ended March 31,  2026   2025 Cash flows from operating activities:   Net income (loss)$27,334  $(1,274)Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:   Depreciation and amortization expense 515   466 Stock-based compensation 12,271   26,437 Accretion, net of amortization (441)  (437)Change in accrued interest earned 141   540 Net realized gains on investment securities (28)  (42)Changes in operating assets and liabilities:   Accrued retrospective premiums (65,340)  (43,474)Prepaid expenses (214)  (3,415)Other assets (13,730)  (1,147)Healthcare receivables 21,392   (1,990)Unpaid claims 107,167   (5,358)Accounts payable and accrued expenses 2,959   (4,011)Accrued salaries and benefits 15,192   11,433 Other liabilities 677   5,979 Net cash provided by (used in) operating activities 107,895   (16,293)Cash flows from investing activities:   Purchases of short-term investments, available-for-sale, and held-to-maturity securities (40,915)  (33,169)Proceeds from sales of short-term investments and available-for-sale securities 33,838   16,483 Proceeds from maturities of short-term investments and available-for-sale securities 2,863   25,801 Purchases of property and equipment (854)  (185)Net cash (used in) provided by investing activities (5,068)  8,930 Cash flows from financing activities:   Issuance of common stock, net of early exercise liability 30   215 Cash paid for shares withheld related to stock-based compensation (7,893)  (13,659)Repurchases of common stock —   (18,297)Net cash used in financing activities (7,863)  (31,741)Net increase (decrease) in cash and cash equivalents 94,964   (39,104)Cash and cash equivalents, beginning of period 78,301   194,543 Cash and cash equivalents, end of period$173,265  $155,439  CLOVER HEALTH INVESTMENTS, CORP.OPERATING SEGMENT(in thousands)(unaudited)  Three months ended March 31,Insurance Segment  2026   2025   (in thousands)Premiums earned, net (net of ceded premiums) $744,189  $456,906 Less:    Net medical claims incurred  610,001   367,887 Segment gross profit $134,188  $89,019      Reconciliation:    Elimination of intersegment profits $20,353  $14,445 Other income  5,000   5,425 Salaries and benefits  (57,063)  (59,022)General and administrative expenses  (74,629)  (50,675)Depreciation and amortization  (515)  (466)Net income (loss) $27,334  $(1,274) CLOVER HEALTH INVESTMENTS, CORP.RECONCILIATION OF NON-GAAP FINANCIAL MEASURESCONSOLIDATED GROSS PROFIT (NON-GAAP) RECONCILIATION(in thousands)(1)(unaudited)     Three Months Ended
March 31,  2026  2025 Net income (loss) (GAAP):$27,334 $(1,274)Adjustments:   Salaries and benefits 57,063  59,022 General and administrative expenses 74,629  50,675 Depreciation and amortization 515  466 Consolidated Gross profit (Non-GAAP)$159,541 $108,889  (1) The table above includes Non-GAAP measures. Non-GAAP financial measures are supplemental and should not be considered a substitute for financial information presented in accordance with GAAP. For a detailed explanation of these Non-GAAP measures, see Appendix A.

CLOVER HEALTH INVESTMENTS, CORP.RECONCILIATION OF NON-GAAP FINANCIAL MEASURESADJUSTED SG&A (NON-GAAP) RECONCILIATION(in thousands)(1)(unaudited)     Three Months Ended
March 31,  2026   2025 Salaries and benefits$57,063  $59,022 General and administrative expenses 74,629   50,675 Total SG&A (GAAP) 131,692   109,697 Adjustments:   Stock-based compensation (12,271)  (26,437)Non-recurring legal expenses and settlements (137)  (153)Adjusted SG&A (non-GAAP)$119,284  $83,107     Total revenues (GAAP)$749,189  $462,331 Adjusted SG&A (non-GAAP) as a percentage of Total revenues 15.9%  18.0% (1) The table above includes Non-GAAP measures. Non-GAAP financial measures are supplemental and should not be considered a substitute for financial information presented in accordance with GAAP. For a detailed explanation of these Non-GAAP measures, see Appendix A.

CLOVER HEALTH INVESTMENTS, CORP.RECONCILIATION OF NON-GAAP FINANCIAL MEASURESADJUSTED EBITDA (NON-GAAP) RECONCILIATION(in thousands)(1)(unaudited)     Three Months Ended
March 31,  2026  2025 Net income (loss) (GAAP):$27,334 $(1,274)Adjustments:   Depreciation and amortization 515  466 Stock-based compensation 12,271  26,437 Non-recurring legal expenses and settlements 137  153 Adjusted EBITDA (non-GAAP)$40,257 $25,782  (1) The table above includes Non-GAAP measures. Non-GAAP financial measures are supplemental and should not be considered a substitute for financial information presented in accordance with GAAP. For a detailed explanation of these Non-GAAP measures, see Appendix A.

CLOVER HEALTH INVESTMENTS, CORP.RECONCILIATION OF NON-GAAP FINANCIAL MEASURESADJUSTED NET INCOME (NON-GAAP) RECONCILIATION(in thousands)(1)(unaudited)     Three Months Ended
March 31,  2026  2025 Net income (loss) (GAAP):$27,334 $(1,274)Adjustments:   Stock-based compensation 12,271  26,437 Non-recurring legal expenses and settlements 137  153 Adjusted Net income (non-GAAP)$39,742 $25,316  (1) The table above includes Non-GAAP measures. Non-GAAP financial measures are supplemental and should not be considered a substitute for financial information presented in accordance with GAAP. For a detailed explanation of these Non-GAAP measures, see Appendix A.

CLOVER HEALTH INVESTMENTS, CORP.RECONCILIATION OF NON-GAAP FINANCIAL MEASURESINSURANCE BENEFITS EXPENSE RATIO (NON-GAAP) (NON-GAAP) RECONCILIATION(in thousands)(1)(unaudited)     Three Months Ended
March 31,  2026   2025 Net medical claims incurred, net (GAAP)$610,001  $367,887 Adjustments:   Quality improvements 34,047   25,712 Insurance Benefits Expense (non-GAAP)$644,048  $393,599     Premiums earned, net (GAAP)$744,189  $456,906 Insurance Benefits Expense Ratio (non-GAAP) 86.5%  86.1% (1) The table above includes Non-GAAP measures. Non-GAAP financial measures are supplemental and should not be considered a substitute for financial information presented in accordance with GAAP. For a detailed explanation of these Non-GAAP measures, see Appendix A.

CLOVER HEALTH INVESTMENTS, CORP.
Appendix A
Explanation of Non-GAAP Financial Measures  Non-GAAP Definitions

Consolidated Gross profit - A Non-GAAP financial measure defined by us as net income (loss) before salaries and benefits, general and administrative expenses, depreciation and amortization, premium deficiency reserve expense, restructuring costs, impairment of goodwill and other intangible assets, interest expense, change in fair value of warrants, and loss on investment. We believe that Consolidated Gross profit provides management, investors, and others a useful view of consolidated business performance and operational results. Accordingly, we believe that Consolidated Gross profit provides investors and others useful information to understand and evaluate our operating results in the same manner as our management and our board of directors.

Adjusted SG&A - A Non-GAAP financial measure defined by us as total SG&A less stock-based compensation and non-recurring legal expenses and settlements. We believe that Adjusted SG&A provides management, investors, and others a useful view of our operating spend as it excludes non-cash, stock-based compensation and expenses related to investments that management believes do not reflect the Company's core operating expenses. We believe that Adjusted SG&A as a percentage of Total revenues is useful to management, investors, and others because it allows us to measure our operational leverage as revenue scales.

Adjusted EBITDA - A Non-GAAP financial measure defined by us as net income (loss) before depreciation and amortization, interest expense, change in fair value of warrants, loss on investment, stock-based compensation, premium deficiency reserve benefit, restructuring costs, impairment of goodwill and other intangible assets, and non-recurring legal expenses and settlements. Adjusted EBITDA is a key measure used by our management team and the board of directors to understand and evaluate our operating performance and trends, to prepare and approve our annual budget and to develop short and long-term operating plans. In particular, we believe that the exclusion of the amounts eliminated in calculating Adjusted EBITDA provide useful measures for period-to-period comparisons of our business. Accordingly, we believe that Adjusted EBITDA provides investors and others useful information to understand and evaluate our operating results in the same manner as our management and our board of directors.

Adjusted Net income - A Non-GAAP financial measure defined by us as net income (loss) before stock-based compensation, premium deficiency reserve benefit, restructuring costs, impairment of goodwill and other intangible assets, and non-recurring legal expenses and settlements. Adjusted Net income is a key measure used by our management team and the board of directors to understand and evaluate our operating performance and trends. We believe that Adjusted Net income is helpful to investors in assessing the Company’s financial performance in the same manner as our management and our board of directors.

Insurance Benefits Expense Ratio - A Non-GAAP financial measure defined by us as Benefits Expense Ratio ("BER"). We calculate our Insurance BER by taking the total of Insurance net medical expenses incurred and quality improvements, and dividing that total by premiums earned on a net basis, in a given period. Quality improvements include expenses associated with activities that improve health outcomes, as defined by the U.S. Department of Health and Human Services ("HHS"), as well as those directly tied to enhancing healthcare quality, such as the Company's spend on health information technology, wellness and prevention programs, initiatives to reduce hospital readmissions, and our clinically focused Member Rewards program for the current year. We believe our Insurance BER is useful to management, investors, and others because it offers a clearer and more accurate representation of our investment in healthcare quality and member engagement, and gives a comprehensive view of costs related to maintaining and improving the quality of care of our members, which is crucial for sustaining member satisfaction and adherence to treatment regimens.

Key Takeaways CLOV reported Q1 revenue growth of 62% as Medicare Advantage membership climbed 51.6%.Clover Health raised 2026 revenue guidance to $2.81B-$2.92B, implying 49% growth at midpoint.CLOV's adjusted EBITDA rose 56% to $40M on AI-driven efficiencies and operating leverage. Clover Health Investments, Corp. (CLOV - Free Report) delivered adjusted earnings per share (EPS) of 7 cents in first-quarter 2026, higher than the year-ago period’s level of 5 cents. The bottom line met with the Zacks Consensus Estimate.

The company reported a GAAP EPS of 5 cents per share from continuing operations, compared with breakeven earnings in the year-ago period.

CLOV’s Q1 Revenues in DetailClover Health registered total revenues of $749.2 million, up 62.1% year over year. The figure beat the Zacks Consensus Estimate by 5.9%.

The top line gained from robust Insurance revenues.

Clover Health’s Segmental DetailsThe company derives its revenues from two primary business segments: Insurance and Other income.

Insurance revenues in the first quarter totaled $744.2 million, up 62.9% year over year. According to management, this growth was primarily driven by a 51.6% increase in Medicare Advantage membership, strong member retention, clinical initiatives and the impact of Clover Assistant-powered care platform.

Within CLOV’s Insurance segment, the Insurance Benefit Expense Ratio (BER) was 86.5%, reflecting a year-over-year increase from 86.1% in the year-ago quarter. Insurance BER rose due to new member dilution and incremental quality investments.

Other income was $5 million, down 7.8% from the prior-year level.

CLOV’s Q1 Operational UpdateIn the quarter under review, Clover Health’s net medical claims increased 66.8% year over year to $589.6 million. Salaries and benefits expenses decreased 3.3% to $57.1 million, while general and administrative expenses rose 47.3% to $74.6 million. Total operating expenses of $721.9 million increased 55.7% on a year-over-year basis.

Total operating income was $27.3 million against the prior-year quarter’s operating loss of $1.3 million.

Clover Health’s Financial PositionThe company exited first-quarter 2026 with cash and cash equivalents of $173.3 million compared with $78.3 million at the end of 2025.

Net cash provided by operating activities from continuing operations at the end of first-quarter 2026 was $107.9 million against $16.3 million of net cash used in operating activities from continuing operations in the year-ago period.

CLOV’s 2026 GuidanceClover Health provided its revenue outlook for 2026.

For 2026, total revenues are estimated to be in the range of $2.81-$2.92 billion, suggesting 49% year-over-year growth at the midpoint. The Zacks Consensus Estimate is pegged at $2.88 billion.

The company now expects GAAP Net Income to be in the range of $0-$20 million. Average Medicare Advantage membership is now likely to be in the band of 154,000-158,000, implying 46% year-over-year growth at the midpoint.

Our Take on Clover HealthClover Health exited the first quarter of 2026 with better-than-expected sales while earnings were in line. The robust uptick in consolidated revenues and key Insurance segment revenues was encouraging. The company emphasized its rapid membership growth, highlighting the scalability of its technology-driven Medicare Advantage model.

Shares of CLOV lost nearly 1.5% during yesterday’s after-hours trading, following the first-quarter results. The company’s shares have gained 14.1% in the year-to-date period against the industry’s decline of 19.4%. However, the S&P 500 Index has increased 6.9% in the same time frame.

Image Source: Zacks Investment Research

Clover Health’s Medicare Advantage membership increased to nearly 156,000 members, supported by strong retention and a successful Annual Enrollment Period. Management emphasized that growth was intentionally concentrated in core markets where Clover Assistant integration and clinical engagement are strongest, particularly in New Jersey, where Clover has become the largest PPO outside of special needs and employer retiree plans.

The company expanded its AI-powered care infrastructure during the quarter. More than one-third of members received Clover Assistant-enabled care, while enrollment in Clover Care Services for higher-acuity patients rose approximately 90% year over year. Management noted that increased clinical engagement and home-based care programs contributed to favorable inpatient utilization trends and improved cost management.

Profitability strengthened significantly. Adjusted EBITDA increased 56% year over year to $40 million, reflecting operating leverage, automation initiatives and AI-driven workflow efficiencies.

Looking ahead, management expects to meet or exceed its full-year 2026 guidance and remains confident in the long-term earnings potential of its model. Meanwhile, the company continues to monitor elevated outpatient utilization trends, Part D cost dynamics and the performance of newer member cohorts, which carry higher initial medical costs before becoming fully integrated into CLOV’s care model. The company is also maintaining disciplined investments in AI infrastructure, Clover Assistant expansion and Counterpart Health, which may weigh modestly on near-term margins even as management expects these initiatives to strengthen long-term cohort economics and operating efficiency.

CLOV’s Zacks Rank & Key PicksClover Health currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space that have announced quarterly results are West Pharmaceutical Services, Inc. (WST - Free Report) , Intuitive Surgical (ISRG - Free Report) and Cardinal Health, Inc. (CAH - Free Report) .

West Pharmaceutical reported first-quarter 2026 EPS of $2.13, which beat the Zacks Consensus Estimate by 26.8%. Revenues of $844.9 million surpassed the Zacks Consensus Estimate by 8.5%. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

West Pharmaceutical has a long-term estimated growth rate of 13.9%. WST’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 19.37%.

Intuitive Surgical reported first-quarter 2026 adjusted EPS of $2.50, beating the Zacks Consensus Estimate by 20.19%. Revenues of $2.77 billion surpassed the Zacks Consensus Estimate by 6.2%. It currently carries a Zacks Rank of 2 (Buy).

Intuitive Surgical has a long-term estimated growth rate of 14.6%. ISRG’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.82%.

Cardinal Health, carrying a Zacks Rank of 2 at present, reported third-quarter fiscal 2026 adjusted EPS of $3.17, which beat the Zacks Consensus Estimate by 13.2%. Revenues of $60.94 billion missed the Zacks Consensus Estimate by 2.3%.

Cardinal Health has a long-term estimated growth rate of 15.7%. CAH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 10.27%.