full I'll on and then quarter's XXXX. Thanks, for updated review year touch first outlook Andrew. this highlights financial our the
lines Insurance revenue rollout once highlighted another meaningful by the gross improvement and was period implemented. XXXX of of for and strong of MCR of will operating quarter first in result business, significant SG&A growth, efficiencies that The both savings profit
in XX.X% to quarter improved QX MCR from year. XX.X% segment, Insurance this last our with of Starting
of nearly X,XXX by more an versus favorable Assistant, enhancements, improvement PPO managed new members, star flagship Clover continued balanced improved and improved activity, operational mix driven efficient from of a performance year-over-year plan rating and returning a basis was care points plan. our Our for design, sustainable including
continue grew revenue Revenue $XXX line on for first business in million Insurance to the of we growth. focus and quarter, Insurance the to XX%
narrower revenue driven by $XXX of participant primarily our on to This to quarter, Non-Insurance focus decreased a group providers. million, strategy
came count effect estimate. This initial received lower below for program which from updated a We our year, of beneficiary by in be view an slightly on aligned recently our potentially will offset factors though impact have revenue CMS may slightly other revenue count as finalizes the this our beneficiary CMS, them. minor
in was the of which quarter to XX.X% period. Our Non-Insurance in favorably segment compares prior XX.X%, MCR MCR the year first
mentioned this some optimistic As remain favorable in about but improvements include Andrew, result by development, XXXX. does overall prior period we
because the published prior XXXX that reach meaningful period upside likely ACO benchmarks, exposure embedded the are note in risk program for relies plan prior final CMS we'll retrospective on or benchmarks participants. year. the be as period by This also for I all downside is framework exposed to
our we share to more when results. have to expect quarter second report We
The SG&A new offset program rollout driven a rewards other of adjusted for million, quarter adjusted increase Reducing push partly key by SG&A was remains $XX by but profitability. our increase of in a as company first The incentives and XXXX. we was the QX areas. minimal focus savings over the towards
these the opportunities earnings last statements and with there on made initiative throughout Clover while transformation opportunities our a business investments efficiency some maintaining the differentiator, calls organization. of own several our realize true are also we announced We've Recently, Assistant. capabilities to
elements our integrated of the technology insurance operations in force This non-core a transformation platform. of HealthProof's to select includes reduction and movement UST
previously from approximately annualized we net As XXXX in initiatives. starting savings our million announced, combined expect $XX of
of recording SG&A be to lines in of $X adjusted of charges restructuring a of non-GAAP EBITDA. charges of in million and drove The will items of both business million EBITDA loss first We adjustment $XX QX a and $XX the will in million between from our this significant These last million of $X adjusted in XXXX. year loss outperformance half of year. improvement be also QX
with at April happened in what cash totaling basis a and We consolidated $XXX last equivalents, $XXX on March Similar of investments quarter from of the MA the restricted cash, parent March. and million CMS entity received finished we to and level. the unrestricted first QX and and million the during year, month subsidiary unregulated both payments
by capital on QX. normalize working temporarily This effect, cash the QX both $XXX consolidated elevating level This and regulated million in an would effect entity basis. at about resulted a unusual in
to help to initiatives what be to during liquidity with for focus XXXX needs. protect business operational I'll improving calls, efficiencies that position. and and gross liquidity consider earnings along on we savings, Our we've our profit which SG&A current will meet operating our both MCRs to achieve is our said prior sufficient reiterate generating segments,
also pursue and balance to a insulate ourselves from aim profitability. accelerating said which to financing. sheet, our path provides markets have to is capital flexibility opportunistic We unleveraged strong that, our Having by
XXXX QX provide I'll our updated full-year on Finally, results. of in an which overview guidance, areas strong based some we have
the increasing guidance $X.XX Insurance $X.XX business billion. billion are to and revenue for line our We of between
to also guidance are of a XX% We improving XX%. MCR range to Insurance
MCR XX% to $XXX maintaining and $XXX Non-Insurance between our previous million guidance XXX%. a revenue We at are range and of million of
the previously the on cannot mentioned metrics under be benchmarks These to data lag program. updated due key yet and
our and mentioned, initiatives As the full we effect until announced not cost transformation recently savings will realize XXXX. of
$XXX remain SG&A guidance we while focused our and previously are million adjusted for maintaining here, we million. issued of $XXX between So,
of have updates paying first as been an more talking in of our this like sharing result year by areas coming I'd already negative off progress million guidance million. We in adjusted the Finally, look strong about in the forward since that quarter negative last are that changes and towards point view emphasis close a emphasizing we on these $XXX $XXX profitability quarters. improved to strategic EBITDA to XXXX. proof we between
some to that, call final With for turn back comments. I'll the Andrew
