Earnings Releases·Oct 29, 2026, 4:01 PM ET

Alignment Healthcare — Third Quarter 2026 Earnings Summary

Total revenue rose 36.7% year-over-year to $1,358.3 million and health plan membership grew 31.2% to 301,200, though adjusted gross profit increased only 11.6% to $142.2 million while adjusted EBITDA declined 32.8% to $21.8 million.
Full-year membership and revenue guidance were raised, but full-year adjusted gross profit and adjusted EBITDA guidance were lowered to $575 million and $100 million respectively due to higher-than-expected medical costs and elevated appeals.
Fourth-quarter 2026 guidance projects revenue of at least $1,316 million and adjusted EBITDA of $(28) million, with management noting the outlook assumes no benefit from actions currently underway.
Medical benefits ratio increased 240 basis points year-over-year to 89.5% driven by higher costs in catastrophic and skilled nursing categories, resulting in a net loss of $8.1 million compared to net income of $3.7 million in the prior year period.