$ALHC

Alignment Healthcare, Inc.

CIK:0001832466|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Earned premiums	$ 1,326,625	$ 1,006,203	$ 2,553,191	$ 1,924,246
Other	9,008	9,085	17,639	17,974
Total revenues	1,335,633	1,015,288	2,570,830	1,942,220
Expenses:
Medical expenses	1,154,676	881,740	2,245,393	1,702,640
Selling, general, and administrative expenses	131,003	103,797	252,141	207,628
Depreciation and amortization	7,854	7,003	15,693	14,597
Total expenses	1,293,533	992,540	2,513,227	1,924,865
Income from operations	42,100	22,748	57,603	17,355
Other expenses:
Interest expense	4,275	3,950	8,337	7,900
Other income, net	(1)	(79)	(1)	(89)
Total other expense	4,274	3,871	8,336	7,811
Income before income taxes	37,826	18,877	49,267	9,544
Provision for income taxes	1,266	3,224	1,291	3,245
Net income	36,560	15,653	47,976	6,299
Less: Net loss attributable to noncontrolling interest	0	14	0	254
Net income attributable to Alignment Healthcare, Inc.	$ 36,560	$ 15,667	$ 47,976	$ 6,553
Net income per share attributable to Alignment Healthcare, Inc.:
Basic (in dollars per share)	$ 0.18	$ 0.08	$ 0.23	$ 0.03
Diluted (in dollars per share)	$ 0.17	$ 0.07	$ 0.22	$ 0.03
Weighted-average common shares outstanding:
Basic (in shares)	207,448,894	198,328,613	206,408,426	195,980,569
Diluted (in shares)	215,024,483	209,519,629	214,369,175	201,576,078

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net income	$ 47,976	$ 6,299
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit loss	265	262
Gain on sale of property and equipment	(1)	(72)
Depreciation and amortization	15,719	14,663
Amortization-investment discount	(350)	(731)
Amortization-debt issuance costs	1,147	881
Equity-based compensation	32,193	32,740
Non-cash lease expense	929	246
Changes in operating assets and liabilities:
Accounts receivable	(43,951)	(129,259)
Prepaid expenses and other current assets	(67,705)	(56,333)
Other assets	11	(52)
Medical expenses payable	138,179	165,366
Accounts payable and accrued expenses	(1,324)	8,631
Accrued compensation	(10,624)	3,085
Lease liabilities	(1,096)	20
Net cash provided by operating activities	111,368	45,746
Investing Activities:
Purchase of investments	(16,835)	(35,001)
Sale of property and equipment	0	75
Maturities of investments	37,340	39,990
Sale of business	0	1,065
Acquisition of property and equipment	(17,509)	(16,255)
Net cash provided by (used in) investing activities	2,996	(10,126)
Financing Activities:
Debt issuance costs	(2,397)	(26)
Proceeds from stock option exercises	5,685	1,823
Net cash provided by financing activities	3,288	1,797
Net increase in cash	117,652	37,417
Cash, cash equivalents and restricted cash at beginning of period	577,937	434,942
Cash, cash equivalents and restricted cash at end of period	695,589	472,359
Supplemental disclosure of cash flow information:
Cash paid for interest	7,013	6,740
Supplemental non-cash investing and financing activities:
Acquisition of property in accounts payable	128	117
Reconciliation of cash, cash equivalents and restricted cash as shown in the statement of cash flows:
Cash and cash equivalents	693,453	470,266
Restricted cash in other assets	2,136	2,093
Total	$ 695,589	$ 472,359

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 693,453	$ 575,817
Accounts receivable (less allowance for credit losses of $265 at June 30, 2026 and $833 at December 31, 2025)	296,893	253,207
Investments - current	8,258	28,413
Prepaid expenses and other current assets	161,845	94,140
Total current assets	1,160,449	951,577
Property and equipment, net	66,211	64,251
Right of use asset, net	7,304	7,019
Goodwill	32,060	32,060
Intangible assets, net	4,550	4,550
Other assets	8,464	6,329
Total assets	1,279,038	1,065,786
Current Liabilities:
Medical expenses payable	612,748	474,569
Accounts payable and accrued expenses	32,270	33,284
Accrued compensation	38,389	49,013
Total current liabilities	683,407	556,866
Long-term debt, net of debt issuance costs	324,056	323,176
Long-term portion of lease liabilities	6,444	6,467
Total liabilities	1,013,907	886,509
Commitments and Contingencies (Note 12)
Stockholders' Equity:
Preferred stock, $0.001 par value; 100,000,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Common stock, $0.001 par value; 1,000,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 207,178,193 and 204,153,619 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	207	205
Additional paid-in capital	1,225,965	1,188,089
Accumulated deficit	(961,041)	(1,009,017)
Total stockholders' equity	265,131	179,277
Total liabilities and stockholders' equity	$ 1,279,038	$ 1,065,786