Companies /Healthcare

Alignment Healthcare Inc

NASDAQ: ALHC Healthcare Plans
$8.70
▼ $0.01 (−0.11%) today
Markets closed · 4:52pm ET

Q3 2025 Earnings

Reported Oct 30, 2025, 4:01pm ET · SEC source
$0.02
Beat +300.00%
EPS · est. $-0.01
$993.7M
Beat +1.26%
Revenue · est. $981.4M
+13.0%
Beating market
ALHC vs S&P since report
2 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−8%−4%0+4%Oct 30Oct 31report 4:01pm ETearnings−0.0%−7.6%
−8%−4%0+4%Oct 30Oct 31earnings−0.0%−7.6%
ALHC −7.6%S&P 500 −0.0%
−8%−4%0+4%Oct 30Oct 31report 4:01pm ETearnings−0.0%−7.6%
−8%−4%0+4%Oct 30Oct 31earnings−0.0%−7.6%
ALHC −7.6%NASDAQ −0.0%
−12%−8%−4%0Oct 29Nov 7report 4:01pm ETearnings−1.8%−11.7%
−12%−8%−4%0Oct 29Nov 7earnings−1.8%−11.7%
ALHC −11.7%S&P 500 −1.8%
−12%−8%−4%0Oct 29Nov 7report 4:01pm ETearnings−3.4%−11.7%
−12%−8%−4%0Oct 29Nov 7earnings−3.4%−11.7%
ALHC −11.7%NASDAQ −3.4%
−1.52%
Day of report
−0.12%
Next session
−3.14%
One week
+13.29%
30 days

S&P 500 over the same 30 days: +0.27%.

Did ALHC Beat Earnings? Q3 2025 Results

Alignment Healthcare posted a standout third quarter for fiscal 2025, delivering beats on both the top and bottom lines as the Medicare Advantage operator swung to a profit ahead of Wall Street's expectations. The company reported revenue of $993.70 million, up 43.5% year-over-year and ahead of the $981.35 million consensus, while diluted EPS came in at $0.02 against an estimated loss of $0.01, a 300.00% beat that marked a sharp reversal from the $0.14 per-share loss recorded in Q3 2024. The primary engine behind that momentum was membership growth, with health plan enrollment climbing 25.9% year-over-year to approximately 229,600 members, driving scale across the company's AVA-powered care model and pushing adjusted EBITDA to $32.44 million from just $5.92 million a year ago. Management raised its full-year 2025 outlook for the third consecutive quarter, now guiding revenue of $3.93 billion to $3.95 billion and adjusted EBITDA of $90 million to $98 million, reflecting growing confidence in the company's ability to expand its national footprint into 2027 and beyond.

Key Takeaways
  • Health plan membership growth of 25.9% year-over-year to approximately 229,600 members
  • Earned premiums grew 43.7% year-over-year to $983.7 million
  • Medical benefits ratio based on adjusted gross profit was 87.2%
  • 100% of members in 4-star or higher rated plans for second consecutive year
  • Two 5-star contracts in Nevada and North Carolina and a 4.5-star contract in Texas
  • Adjusted EBITDA surged to $32.4 million from $5.9 million in Q3 2024
  • Interest expense declined to $4.0 million from $6.9 million year-over-year

“Our third quarter results mark the third consecutive quarter in which we surpassed the high end of our guidance across all key metrics. These outcomes reinforce the strength and scalability of our care model, which continues to deliver consistent results across our markets. With 100% of our members in 4-star or higher plans for the second year in a row, we are leading a paradigm shift in Medicare Advantage that prioritizes quality, access and putting seniors first.”

Alignment Healthcare CEO, on the earnings call

Forward Guidance & Outlook

For Q4 2025, the company guides membership of 232,500–234,500, revenue of $995M–$1,010M, adjusted gross profit of $104M–$113M, and adjusted EBITDA of $(9)M–$(1)M. For full-year 2025, the raised outlook calls for membership of 232,500–234,500, revenue of $3,931M–$3,946M, adjusted gross profit of $474M–$483M, and adjusted EBITDA of $90M–$98M. All key metrics were raised from prior guidance.

ALHC YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$300.0M$600.0M$900.0M$692.4M$993.7MRevenue$3.2M$7.7MOperating Income$1.7M$3.7MNet Income
$0$300.0M$600.0M$900.0MRevenueOperating IncomeNet Income

ALHC Revenue by Segment

Earned Premiums
Other Revenue

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