Alignment Healthcare Reports 31% Year-Over-Year Membership Growth to 275,300 as of Jan. 1, 2026

Rhea-AI Summary

Alignment Healthcare (NASDAQ: ALHC) reported Jan. 1, 2026 health plan membership of approximately 275,300, a 31% year-over-year increase after a strong AEP and a ~30% compounded annual membership growth since its 2021 IPO. The company guides year-end 2026 membership of 290,000 to 296,000 (about 24%–27% growth vs. the midpoint of prior guidance) and expects consensus adjusted EBITDA ≈ $145 million for 2026 to fall within its full-year guidance range. The company reaffirmed its full-year 2025 guidance for membership, revenue, adjusted gross profit and adjusted EBITDA and noted timing for full 2026 guidance at its Q4 2025 earnings call.

Positive

• Membership 275,300 as of Jan 1, 2026 (+31% YoY)
• 5-year CAGR ~30% in membership since 2021 IPO
• Year-end 2026 membership guidance of 290k–296k (≈24%–27% growth)
• Consensus adjusted EBITDA ≈ $145M expected to be within 2026 guidance

Negative

• Company uses non-GAAP measures and cannot reconcile estimated adjusted gross profit and adjusted EBITDA ranges to GAAP net loss
• Full-year 2026 guidance details not provided until the Q4 2025 earnings call

News Market Reaction

+2.41%

1 alert

+2.41% News Effect

On the day this news was published, ALHC gained 2.41%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Jan. 1, 2026 membership: 275,300 members Membership growth YoY: 31% 2026 membership guidance: 290,000–296,000 members +5 more

8 metrics

Jan. 1, 2026 membership 275,300 members Health plan membership as of Jan. 1, 2026; 31% YoY growth

Membership growth YoY 31% Year-over-year growth in health plan membership as of Jan. 1, 2026

2026 membership guidance 290,000–296,000 members Year-end 2026 health plan membership guidance range

2026 consensus adjusted EBITDA $145 million Company expects this to be within full-year 2026 guidance range

Membership CAGR since IPO 30% Compounded annual membership growth rate since 2021 IPO

4+ star plan coverage 100% of members Members enrolled in plans rated 4 stars or higher for second year

Price vs 52-week range $20.78 price; $21.65 high; $11.475 low Pre-news close relative to 52-week high and low

Market capitalization $4,157,906,399 Market cap prior to the news

Market Reality Check

Price: $22.50 Vol: Volume 1,769,774 is below...

low vol

$22.50 Last Close

Volume Volume 1,769,774 is below the 20-day average of 2,780,852 (relative volume 0.64). low

Technical Shares at 20.78 are trading above the 200-day MA at 16.47 and 4.02% below the 52-week high of 21.65.

Peers on Argus

ALHC is down 0.81% while several peers like OSCR, PGNY, MOH and CVS also show de...

1 Down

ALHC is down 0.81% while several peers like OSCR, PGNY, MOH and CVS also show declines, but CLOV is up, and only OSCR appears in the momentum scanner, pointing to a mixed, stock‑specific backdrop rather than a clear sector‑wide move.

Historical Context

5 past events · Latest: Dec 17 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 17	Conference presentation	Neutral	+2.6%	Announcement of J.P. Morgan Healthcare Conference presentation and webcast access.
Nov 19	Conference presentation	Neutral	+1.4%	Piper Sandler conference presentation with webcast and replay details.
Oct 30	Earnings beat	Positive	-6.0%	Q3 2025 results exceeded guidance with strong revenue and membership growth.
Oct 22	Quality accolades	Positive	-0.7%	Named 2026 Best Insurance Company for Medicare Advantage across all markets.
Oct 21	Strategic partnership	Positive	+0.7%	Partnership with Suvida Healthcare to expand bilingual primary care in Arizona.

Pattern Detected

The stock has sometimes sold off on strong fundamental news, with prior earnings and quality accolades seeing negative or muted next-day reactions despite positive business updates.

Recent Company History

Over the last few months, ALHC has reported strong fundamentals, including Q3 2025 results that surpassed the high end of guidance across key metrics and highlighted 100% of members in plans rated 4 stars or higher. It also received multiple Medicare Advantage quality accolades and expanded bilingual care access in Arizona. Conference presentation announcements in November and December saw modest positive reactions. Against this backdrop, today’s update on membership growth and 2026 expectations extends a pattern of operational momentum.

Market Pulse Summary

This announcement highlights continued scale and quality, with health plan membership reaching 275,3...

Analysis

This announcement highlights continued scale and quality, with health plan membership reaching 275,300 members, up 31% year over year, and a compounded growth rate of about 30% since the 2021 IPO. The company guides to 290,000–296,000 members by year-end 2026 and expects consensus adjusted EBITDA of $145 million to sit within its 2026 range while reaffirming 2025 guidance. Maintaining 100% of members in 4‑star‑plus plans remains a key quality and competitiveness metric to watch.

Key Terms

medicare advantage, non-gaap, adjusted ebidta, centers for medicare & medicaid services, +3 more

7 terms

medicare advantage medical

"Alignment Healthcare, Inc. (NASDAQ: ALHC), an award-winning Medicare Advantage (MA) company"

Medicare Advantage is a type of health insurance plan offered by private companies that covers services traditionally provided by government-run Medicare. Think of it as a bundled package that combines hospital, doctor, and other medical care into one plan, often with added benefits. For investors, it matters because the popularity and profitability of these plans can influence healthcare companies and the broader health insurance industry.

non-gaap financial

"Adjusted gross profit is a non-GAAP financial measure that is presented as supplemental"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

adjusted ebidta financial

"Adjusted EBITDA is a non-GAAP financial measure that is presented as supplemental"

Adjusted EBITDA is a company’s reported profit from its core operations before subtracting interest, taxes, and accounting for long-term costs like depreciation, further cleaned up by removing one-time, unusual, or non-cash items. Think of it as the operating cash-flow picture after erasing temporary blips so different periods and companies can be compared more easily; investors use it to judge underlying business performance, but it is not a standardized accounting measure and can be shaped by management choices.

centers for medicare & medicaid services regulatory

"Based on Centers for Medicare & Medicaid Services star ratings, 100% of its members"

The Centers for Medicare & Medicaid Services (CMS) is the U.S. federal agency that runs major public health insurance programs and sets rules for what treatments and services are paid for and how much providers receive. Think of it as the rulebook and paymaster for a large portion of the health-care system: its coverage decisions, payment rates, and regulations can quickly change revenues, costs, and market access for hospitals, insurers, drugmakers and medical-device companies, so investors track its actions closely.

star ratings regulatory

"Based on Centers for Medicare & Medicaid Services star ratings, 100% of its members"

Star ratings are a simple, usually one-to-five symbol summary that communicates an analyst’s or service’s view of a stock, fund, credit, or financial product—more stars signal stronger expected performance or lower perceived risk. They serve as a quick snapshot, like a restaurant review, helping investors compare options at a glance, but scales and criteria vary so they should be used alongside deeper research.

equity-based compensation financial

"including equity-based compensation expense and depreciation and amortization, that are not"

Equity-based compensation is pay given to employees or contractors in the form of company ownership—such as stock, stock options, or restricted shares—instead of or in addition to cash. It matters to investors because it aligns workers’ interests with shareholders (like giving employees a slice of the company pie), but can also dilute existing owners and appears as a real cost on financial statements, affecting earnings and share value.

right of use ("rou") assets financial

"gains or losses on right of use ("ROU") assets, gains or losses on sale"

Right of use (ROU) assets are the recorded value of leased items a company has the right to use for a set period, like a long-term rental recorded on the balance sheet. Think of it as the present value of a company’s rented office or equipment shown as an owned asset; investors watch it because it increases reported assets and corresponding lease liabilities, affecting measures of leverage, profitability and cash flow comparisons between companies.

AI-generated analysis. Not financial advice.

• Guides year-end 2026 health plan membership range of 290,000 to 296,000.
• Announces its expectation that consensus adjusted EBITDA of approximately $145 million in 2026 will be within its full-year 2026 guidance range.
• Reaffirms its full-year 2025 guidance ranges on health plan membership, revenue, adjusted gross profit and adjusted EBITDA.
  

ORANGE, Calif., Jan. 12, 2026 (GLOBE NEWSWIRE) -- Alignment Healthcare, Inc. (NASDAQ: ALHC), an award-winning Medicare Advantage (MA) company, today announced Jan. 1 health plan membership of approximately 275,300, representing 31% year-over-year growth following a strong annual enrollment period (AEP). Since its IPO in 2021, the company has achieved a compounded annual membership growth rate of approximately 30%, underscoring sustained performance in the MA market.

Following its AEP results, the company expects to have health plan membership of 290,000 to 296,000 at year-end 2026, representing growth of approximately 24% to 27% relative to the midpoint of its year-end 2025 membership guidance provided on Oct. 30, 2025. Furthermore, the company is announcing its expectation that consensus adjusted EBITDA of approximately $145 million in 2026 will be within its full-year 2026 guidance range. Full-year 2026 guidance will be provided at its fourth-quarter 2025 earnings call.

Lastly, the company is reaffirming its full-year 2025 guidance ranges on health plan membership, revenue, adjusted gross profit and adjusted EBITDA provided Oct. 30, 2025.

“Alignment Healthcare continues to set the bar high for Medicare Advantage done right,” said John Kao, founder and CEO, Alignment Healthcare. “As we mark five years as a public company, we are proving strong business performance comes from delivering on our promise to seniors: better care, better outcomes and lower costs. The strength of our model is driving industry-leading performance in MA today and positions us for scalable, repeatable growth.”

Alignment’s proven care-centered model continues to deliver high-quality outcomes and create shareholder value by serving seniors. Based on Centers for Medicare & Medicaid Services star ratings, 100% of its members are enrolled in plans rated 4 stars or higher for the second consecutive year.

Non-GAAP Measures
Adjusted gross profit is a non-GAAP financial measure that is presented as supplemental disclosure, that we define as income (loss) from operations before depreciation and amortization, clinical equity-based compensation expense, clinical restructuring costs and selling, general, and administrative expenses. We cannot reconcile our estimated ranges for adjusted gross profit to loss from operations, the most directly comparable GAAP measure, and cannot provide estimated ranges for loss from operations, without unreasonable efforts because of the uncertainty around certain items that may impact loss from operations, including equity-based compensation expense and depreciation and amortization, that are not within our control or cannot be reasonably predicted.

Adjusted EBITDA is a non-GAAP financial measure that is presented as supplemental disclosure, that we define as net income (loss) before interest expense, income taxes, depreciation and amortization expense, acquisition expenses, certain litigation costs, gains or losses on right of use ("ROU") assets, gains or losses on sale of property and equipment, restructuring costs and equity-based compensation expense. We cannot reconcile our estimated ranges for Adjusted EBITDA to net loss, the most directly comparable GAAP measure, and cannot provide estimated ranges for net loss, without unreasonable efforts because of the uncertainty around certain items that may impact net loss, including equity-based compensation expense and depreciation and amortization, that are not within our control or cannot be reasonably predicted.

About Alignment Healthcare
Alignment Health is championing a new path in senior care that empowers members to age well and live their most vibrant lives. A consumer brand name of Alignment Healthcare (NASDAQ: ALHC), Alignment Health’s mission-focused team makes high-quality, low-cost care a reality for its Medicare Advantage members every day. Based in California, the company partners with nationally recognized and trusted local providers to deliver coordinated care, powered by its customized care model, 24/7 concierge care team and purpose-built technology, AVA®. As it expands its offerings and grows its national footprint, Alignment upholds its core values of leading with a serving heart and putting the senior first. For more information, visit www.alignmenthealth.com.

Forward-Looking Statements
This 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, and the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include statements regarding our future growth and our financial outlook for the year ended December 31, 2025. Forward-looking statements are subject to risks and uncertainties and are based on assumptions that may prove to be inaccurate, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to attract new members and enter new markets, including the need for certain governmental approvals; our ability to maintain a high rating for our plans on the Five Star Quality Rating System; our ability to develop and maintain satisfactory relationships with care providers that service our members; risks associated with being a government contractor, including potential federal reductions in MA funding; changes in laws and regulations applicable to our business model; risks related to our indebtedness; changes in market or industry conditions and receptivity to our technology and services; results of litigation or a security incident; and the impact of shortages of qualified personnel and related increases in our labor costs. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our Annual Report on Form 10-K for the year ended December 31, 2024, and the other periodic reports we file with the SEC. All information provided in this release is as of the date hereof, and we undertake no duty to update or revise this information unless required by law.

Investor Contact
Harrison Zhuo
hzhuo@ahcusa.com

Media Contact
Priya Shah
mPR, Inc. for Alignment Health
alignment@mpublicrelations.com

FAQ

What membership did Alignment Healthcare (ALHC) report on Jan 1, 2026?

Alignment Healthcare reported approximately 275,300 health plan members on Jan 1, 2026, a 31% YoY increase.

What membership range did ALHC guide for year-end 2026?

ALHC expects year-end 2026 membership of 290,000 to 296,000, about 24%–27% growth versus the prior midpoint.

What adjusted EBITDA does Alignment Healthcare expect for 2026 (ALHC)?

The company announced consensus adjusted EBITDA of approximately $145 million is expected to be within its full-year 2026 guidance range.

Did Alignment Healthcare (ALHC) change its 2025 guidance?

No; the company reaffirmed its full-year 2025 guidance ranges for membership, revenue, adjusted gross profit and adjusted EBITDA.

When will ALHC provide full-year 2026 guidance details?

Full-year 2026 guidance will be provided at the company’s fourth-quarter 2025 earnings call.