[144] World Acceptance Corp SEC Filing

Rhea-AI Filing Summary

Alignment Healthcare (ALHC) Q2-25 10-Q highlights

Revenue climbed 49% year-over-year to $1.015 bn, driven by earned premiums of $1.006 bn. Medical expenses grew 46% to $881.7 m, but the medical loss ratio improvement helped swing operating results to a $22.7 m profit versus a $18.4 m loss in Q2-24. Net income attributable to shareholders reached $15.7 m, or $0.07 diluted EPS, reversing the prior-year $(0.13) loss.

For the first six months, revenue rose 48% to $1.94 bn with net income of $6.6 m. Cash and equivalents increased to $470.3 m, supporting total assets of $1.0 bn. Long-term debt stayed at $322.3 m after the Nov-24 issuance of 4.25% convertible notes; quarterly interest expense fell to $4.0 m. Stockholders’ equity improved to $141.0 m as the accumulated deficit narrowed.

Key ratios

• Operating margin: 2.2% vs (2.7)% YoY
• Medical expenses/Revenue: 86.9% vs 88.8%
• Cash & short-term investments: $505.8 m

Management noted an immaterial exit from the ACO REACH model effective 31-Dec-25 and confirmed compliance with all RBC/TNE capital rules. No new financial guidance was issued.

Positive

• Revenue up 49% YoY to $1.015 bn, indicating strong membership and premium growth
• Return to profitability: $15.7 m net income vs. prior-year loss; diluted EPS $0.07
• Operating margin turned positive at 2.2%, reflecting improved cost control
• Cash balance rose to $470 m, enhancing liquidity for growth and claims funding

Negative

• Medical expenses payable increased 57% to $455 m, pressuring working capital
• Medical expenses still consume 86.9% of revenue, leaving limited margin for error
• Goodwill impairment and subsidiary sale charges totaled $0.6 m, hinting at portfolio adjustments

Insights

Sell-Side Healthcare Analyst

TL;DR: Strong top-line growth and first quarterly profit indicate improving scale economics.

ALHC delivered a 49% revenue surge and converted it into a 2.2% operating margin, confirming that fixed SG&A leverage and a slightly better medical loss ratio can move earnings quickly. Cash of $470 m covers 1.4× medical payables, providing ample liquidity while the 4.25% converts keep interest drag modest. Debt/Equity is high at 2.3×, but positive cash flow and growing membership ease refinance risk. With statutory capital comfortably met, the quarter reads as a positive inflection for profitability.

Healthcare Risk Analyst

TL;DR: Expense trends still rising, but risk metrics stable; balance-sheet risk moderate.

Medical payables jumped 57% since year-end, reflecting membership growth and the seasonal Part D cost shift under IRA. Yet the 86.9% medical cost ratio shows effective pricing. Legal reserves ($0.9 m) and goodwill impairment ($0.6 m) are immaterial. Convertible notes add potential dilution at $16.04, but current debt service is manageable. Regulatory capital and restricted deposits are adequate; planned ACO REACH exit lowers downside volatility. Overall risk profile neutral-to-positive.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	4704	750275.28	5307307	07/30/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	10/01/2020	Restricted Stock Vesting	Issuer			809	10/01/2020	Compensation
Common	10/15/2020	Restricted Stock Vesting	Issuer			3895	10/15/2020	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How much did Alignment Healthcare (ALHC) earn in Q2-25?

ALHC posted $15.7 million in net income attributable to shareholders, or $0.07 diluted EPS.

What drove the 49% revenue growth for ALHC?

Revenue reached $1.015 billion mainly from a jump in earned premiums to $1.006 billion amid membership expansion.

Did the medical loss ratio improve?

Yes. Medical expenses were 86.9% of revenue versus 88.8% a year earlier, supporting the move to profitability.

What is ALHC’s current debt position?

Long-term debt stands at $322.3 million, entirely from 4.25% convertible notes maturing November 2029.

How much cash does ALHC have?

Cash and cash equivalents totaled $470.3 million at 30-Jun-25, up from $432.9 million at year-end.

Is Alignment exiting any programs?

Yes. The company will exit the ACO REACH model on 31-Dec-25; management expects an immaterial financial impact.