Companies /Healthcare

Alignment Healthcare Inc

NASDAQ: ALHC Healthcare Plans
$8.70
▼ $0.01 (−0.11%) today
Markets closed · 10:59pm ET

Q2 2026 Earnings

Reported Jul 30, 2026, 4:01pm ET · SEC source
$0.17
Miss −16.05%
EPS · est. $0.20
$1.3B
Beat +1.96%
Revenue · est. $1.3B
−10.5%
Trailing market
ALHC vs S&P since report
2 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−21%−14%−7%0Jul 30Jul 31report 4:01pm ETearnings+0.1%−18.8%
−21%−14%−7%0Jul 30Jul 31earnings+0.1%−18.8%
ALHC −18.8%S&P 500 +0.1%
−21%−14%−7%0Jul 30Jul 31report 4:01pm ETearnings−0.2%−18.8%
−21%−14%−7%0Jul 30Jul 31earnings−0.2%−18.8%
ALHC −18.8%NASDAQ −0.2%
0+20%Jul 29Aug 7report 4:01pm ETearnings+4.2%−9.7%
0+20%Jul 29Aug 7earnings+4.2%−9.7%
ALHC −9.7%S&P 500 +4.2%
0+20%Jul 29Aug 7report 4:01pm ETearnings+5.4%−9.7%
0+20%Jul 29Aug 7earnings+5.4%−9.7%
ALHC −9.7%NASDAQ +5.4%
−20.20%
Day of report
−1.95%
Next session
−3.23%
One week
−8.48%
30 days

S&P 500 over the same 30 days: +1.97%.

Did ALHC Beat Earnings? Q2 2026 Results

Alignment Healthcare posted a mixed second quarter for fiscal 2026, beating on revenue while falling short on the bottom line against Wall Street expectations. The Medicare Advantage insurer reported revenue of $1.34 billion, a 31.6% year-over-year increase that came in 1.96% above the $1.31 billion consensus estimate, driven by a 31.5% surge in health plan membership to approximately 294,100. Earnings per share of $0.17, however, missed the $0.20 consensus by 16.05%, even as GAAP net income more than doubled from $15.65 million to $36.56 million year over year. The standout operational story was an improved medical benefits ratio of 86.3%, down roughly 40 basis points from a year ago, reflecting tighter cost management relative to premium revenue. Adjusted EBITDA climbed 48.4% to $68.14 million, a figure that takes on added weight given an ongoing securities investigation into allegations that the company misclassified expenses to inflate that metric. Looking ahead, management raised full-year 2026 guidance midpoints, projecting revenue of $5.20 billion to $5.22 billion and adjusted EBITDA of $145 million to $163 million.

Key Takeaways
  • 31.5% year-over-year Medicare Advantage membership growth to approximately 294,100 members
  • Medical benefits ratio improvement of approximately 40 basis points year-over-year to 86.3%
  • Ongoing investments in clinical model, AI-enabled capabilities and operational infrastructure
  • Adjusted EBITDA grew 48.4% year-over-year to $68.1 million
  • Adjusted gross profit grew 35.3% year-over-year to $182.9 million

“Our second quarter results underscore the strength of our purpose-built Medicare Advantage platform and place us in a strong position to deliver upon our full-year objectives.”

Alignment Healthcare CEO, on the earnings call

Forward Guidance & Outlook

The company raised the midpoint of all full-year 2026 guidance metrics. For Q3 2026: membership of 295,500–297,500, revenue of $1,300–$1,320 million, adjusted gross profit of $148–$158 million, and adjusted EBITDA of $20–$30 million. For full-year 2026: membership of 298,000–301,000, revenue of $5,195–$5,225 million, adjusted gross profit of $630–$650 million, and adjusted EBITDA of $145–$163 million.

ALHC YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$400.0M$800.0M$1.2B$1.0B$1.3BRevenue$22.7M$42.1MOperating Income$15.7M$36.6MNet Income
$0$400.0M$800.0M$1.2BRevenueOperating IncomeNet Income

ALHC Revenue by Segment

Earned Premiums$1.3B+31.8%
Other Revenue$9.0M−0.8%

Figures from SEC filings and company reports. Not investment advice.