Here are the 10-Q quarterly reports from Alignment Healthcare, Inc. (ALHC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow ALHC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ALHC filings page.
Alignment Healthcare, Inc. (ALHC) reported third-quarter 2026 revenue of $1,358.290 million, up 36.7% from $993.695 million a year earlier. It recorded a net loss of $8.052 million, versus net income of $3.729 million; adjusted EBITDA was $21.808 million, down 32.8%. Membership reached 301,200 as of September 30, 2026, 31.2% above the prior-year count.
For the first nine months, revenue was $3,929.120 million, net income was $39.924 million versus $10.028 million, and adjusted EBITDA was $127.804 million, up 29.7%. The medical benefits ratio was 89.5%, compared with 87.2%. For the 2027 rating year, the California HMO plan serving approximately 75% of members received a 3.5-Star Rating; each of the six other eligible plans had a 4.0-Star or higher rating, including three at 4.5 stars.
As of September 30, 2026, cash and cash equivalents were $727.694 million, and the carrying value of long-term debt, net of issuance costs, was $324.497 million. The $200 million revolving credit facility had no outstanding debt, and the company reported compliance with all financial covenants.
Alignment Healthcare, Inc. reported strong growth for the three months ended March 31, 2026, moving to profitability while expanding membership. Total revenues rose 33.3% year over year to $1.24 billion, driven mainly by earned premiums of $1.23 billion.
Health plan membership grew 30.9% to 284,800 members. The medical benefits ratio was 88.2%, essentially flat versus 88.4% a year earlier, indicating the company absorbed rapid growth without materially higher medical cost ratios.
Income from operations improved to $15.5 million from a loss of $5.4 million, and net income reached $11.4 million compared with a net loss of $9.4 million. Diluted net income per share was $0.05, versus a diluted loss per share of $0.05 in the prior-year period.
Adjusted metrics also strengthened: Adjusted EBITDA increased 87.6% to $37.9 million and adjusted gross profit rose 36.1% to $145.9 million. The company ended the period with $705.6 million of cash and cash equivalents, long-term debt of $323.6 million (carrying value), and total stockholders’ equity of $206.9 million.
Alignment Healthcare (ALHC) reported Q3 2025 results showing strong top-line growth and a return to profitability. Revenue rose to $993.7 million from $692.4 million a year ago, driven by earned premiums of $983.7 million. Medical expenses were $868.0 million and SG&A was $110.0 million, yielding operating income of $7.7 million.
Net income was $3.7 million versus a $26.4 million loss last year, with diluted EPS of $0.02. Year-to-date, revenue reached $2.94 billion and net income was $10.0 million. Cash and cash equivalents were $618.1 million as of September 30, 2025, supported by $190.3 million of net cash provided by operating activities year-to-date. Long-term debt stood at $322.7 million (carrying value) tied to 4.25% convertible senior notes due 2029. Medical expenses payable increased to $528.8 million from $289.8 million at December 31, 2024. Shares outstanding were 199,988,515 as of September 30, 2025; as of October 27, 2025, they were 200,091,742.