10-K · February 27, 2026
Alignment Healthcare positions itself as a clinically driven Medicare Advantage plan that combines a proprietary platform (AVA) and an in‑house Care Anywhere clinical model to drive member growth and reduce medical…
Earnings analysis · 10-Q
ALHC earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
Alignment Healthcare reported significant growth in Q1 2026 with revenues of $1,235.2 million, a 33.3% increase from $926.9 million in Q1 2025, alongside a net income of $11.4 million, reversing the prior year’s loss of…
Read full summary
Alignment Healthcare reported significant growth in Q1 2026 with revenues of $1,235.2 million, a 33.3% increase from $926.9 million in Q1 2025, alongside a net income of $11.4 million, reversing the prior year’s loss of $9.4 million. Their health plan membership increased by 30.9% to approximately 284,800 members, highlighting robust operational momentum and a growing market share.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.05
What stood out
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Strong Revenue Growth
Revenues increased by 33.3% to $1,235.2 million compared to $926.9 million in Q1 2025.
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Profitable Quarter
Net income reached $11.4 million, a significant recovery from the loss of $9.4 million in the previous year.
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Increased Membership
Health plan membership hit 284,800, representing a 30.9% growth year-over-year.
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Reduced Medical Benefits Ratio
Medical benefits ratio improved to 88.2%, down from 88.4% a year earlier.
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Improved Operational Efficiency
Selling, general and administrative expenses as a percentage of revenue decreased from 11.2% to 9.8%.
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Significant Cash Flow Net Increase
Operating cash flow showed substantial growth to $128.7 million, up from $16.6 million in Q1 2025.
What to watch
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Operating Loss Risk
Potential for future operating losses due to continued investments in growth and technology development.
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Market Competitive Pressure
Competition from large established players may hinder market share growth despite current successes.
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Regulatory Compliance Risk
Dependency on compliance with state and federal regulations, which can impact operational flexibility.
Management's outlook
Guidance raised for revenue to $1,295 - $1,315 million for 2026.
Earlier filings 4
10-Q · July 30, 2025
Alignment Healthcare reported strong Q2 results with total revenues of $1,015,288,000 (Q2 2025) versus $681,286,000 in Q2 2024, a $334,002,000 (+49.0%) increase. The company turned to profitability on an operating and…
10-Q · August 1, 2024
Alignment Healthcare reported strong Q2 top-line growth with total revenues of $681,286,000 (three months ended June 30, 2024), up $218,907,000 (47.3%) versus Q2 2023 revenue of $462,379,000. Gross profit was…
10-Q · May 2, 2024
Alignment Healthcare reported strong top-line growth in Q1 2024 with total revenue of $628,601,000 (earned premiums $621,556,000), up $189,446,000 (+43.1%) versus Q1 2023. Despite revenue upside, the company recorded a…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.