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ALHC 8-K filings, explained
Every material Form 8-K Alignment Healthcare has filed with the SEC since August 01, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Alignment Healthcare reported third-quarter 2026 total revenue of $1,358.3 million, up 36.7% year-over-year, and membership of approximately 301,200, up 31.2%. Profit fell, with a net loss of $8.1 million compared with net income of $3.7 million a year earlier, and adjusted EBITDA down 32.8%. The company lowered its full-year 2026 adjusted gross profit and adjusted EBITDA guidance because of higher medical costs, which weighs on shareholders' expectations for profitability.
Q3 2026 total revenue was $1,358.3 million, up 36.7% year-over-year; net loss was $8.1 million versus net income of $3.7 million a year earlier
Medical benefits ratio based on adjusted gross profit rose to 89.5%, an increase of approximately 240 basis points year-over-year
Full-year 2026 adjusted gross profit guidance is no less than $575 million and adjusted EBITDA guidance is no less than $100 million, both lowered; full-year revenue guidance was raised to no less than $5,245 million
Fourth-quarter 2026 guidance calls for adjusted EBITDA of $(28) million, a loss, on revenue of $1,316 million
Alignment Healthcare reported second-quarter 2026 total revenue of $1,335.6 million, up 31.6% year-over-year, and net income of $36.6 million, compared with $15.7 million a year earlier. The company raised the midpoint of all its full-year 2026 guidance metrics, including membership, revenue, adjusted gross profit and adjusted EBITDA.
Q2 2026 total revenue was $1,335.6 million, up 31.6% year-over-year; health plan membership was about 294,100, up 31.5%.
Net income was $36.6 million versus $15.7 million; diluted EPS was $0.17 versus $0.07 a year earlier.
Adjusted EBITDA was $68.1 million, a 5.1% margin and up 48.4% year-over-year.
Full-year 2026 guidance: revenue $5,195 million to $5,225 million; adjusted EBITDA $145 million to $163 million.
Alignment Healthcare reported first-quarter 2026 total revenue of $1,235.2 million, up 33.3% year-over-year, and net income of $11.4 million, compared with a net loss of $9.4 million a year earlier. The company also raised the midpoint of its membership, revenue, adjusted gross profit and adjusted EBITDA guidance for 2026, which shows a higher outlook alongside the profit improvement.
Total revenue was $1,235.2 million for the quarter ended March 31, 2026, up 33.3% from the prior-year quarter.
Net income was $11.4 million, versus a $9.4 million net loss in Q1 2025; diluted EPS was $0.05.
Adjusted EBITDA was $37.9 million, up 87.6% year-over-year; health plan membership was about 284,800, up 30.9%.
Full-year 2026 revenue guidance is $5.16 billion to $5.205 billion, and adjusted EBITDA guidance is $138 million to $163 million.
Alignment Healthcare disclosed an underwritten offering in which a selling stockholder, not the company, sold 13,167,733 shares of common stock through J.P. Morgan Securities LLC. The offering closed on March 4, 2026, and the company said it will receive none of the proceeds, so the deal does not add new shares or cash to the company.
Underwriting agreement dated March 2, 2026, with J.P. Morgan Securities LLC and the selling stockholder
13,167,733 shares of common stock offered by the selling stockholder
Closing and delivery of shares took place March 4, 2026
Company will not receive any proceeds from the sale
Alignment Healthcare reported fourth-quarter 2025 total revenue of $1,012.8 million, up 44.4%, and a net loss of $11.0 million, compared with a $31.1 million loss a year earlier. For full-year 2025, revenue was $3.95 billion, up 46.1%, and the net loss narrowed to $1.0 million from $128.1 million. The company guided 2026 revenue to $5.14 billion to $5.19 billion and adjusted EBITDA to $133 million to $163 million, which signals expected continued growth and a path toward profitability for shareholders.
Q4 2025 total revenue was $1,012.8 million, up 44.4%; net loss was $11.0 million versus $31.1 million a year earlier.
Full-year 2025 revenue was $3.95 billion, up 46.1%; net loss was $1.0 million versus $128.1 million in 2024.
2026 guidance: revenue of $5.14 billion to $5.19 billion, adjusted EBITDA of $133 million to $163 million, and 292,000 to 298,000 health plan members.
Health plan membership guidance was raised by 2,000 at the midpoint; membership at the end of Q4 2025 was about 236,300, up 25.0%.
Alignment Healthcare reported third-quarter 2025 revenue of $993.7 million, up 43.5% year over year, and net income of $3.7 million, compared with a net loss of $26.4 million a year earlier. The company raised its full-year 2025 outlook for membership, revenue, adjusted gross profit and adjusted EBITDA, which points to stronger expected results for shareholders, though its fourth-quarter adjusted EBITDA is guided to a loss.
Q3 2025 revenue was $993.7 million, up 43.5% year over year; health plan membership was about 229,600, up 25.9%.
Q3 2025 net income was $3.7 million, versus a net loss of $26.4 million in Q3 2024; adjusted EBITDA was $32.4 million, versus $5.9 million.
Full-year 2025 revenue guidance is $3,931 million to $3,946 million, and full-year adjusted EBITDA guidance is $90 million to $98 million.
Fourth-quarter 2025 adjusted EBITDA is guided to a loss of $9 million to $1 million.
Alignment Healthcare reported second-quarter 2025 revenue of $1,015.3 million, up 49.0% year over year, and net income of $15.7 million, compared with a net loss of $24.0 million a year earlier. The company raised its full-year 2025 outlook for membership, revenue, adjusted gross profit and adjusted EBITDA.
Q2 2025 total revenue was $1,015.3 million, up 49.0% from the prior-year quarter; net income was $15.7 million versus a $24.0 million loss in Q2 2024.
Adjusted EBITDA was $45.9 million in Q2 2025, compared with $6.0 million a year earlier; adjusted gross profit was $135.2 million.
Full-year 2025 revenue outlook is $3,885 million to $3,910 million, and adjusted EBITDA outlook is $69 million to $83 million.
Third-quarter 2025 revenue outlook is $970 million to $985 million, with health plan membership of 225,000 to 227,000 at September 30, 2025.
Alignment Healthcare reported first-quarter 2025 revenue of $926.9 million, up 47.5% year over year, and a net loss of $9.4 million, narrowed from $46.6 million a year earlier. The company raised the midpoints of its 2025 outlook for membership, revenue, adjusted gross profit and adjusted EBITDA, and said CFO Thomas Freeman will be succeeded by Jim Head effective May 2, 2025.
Q1 2025 revenue was $926.9 million, up 47.5%; net loss was $9.4 million versus $46.6 million in Q1 2024.
Adjusted EBITDA was $20.2 million, compared with a loss of $12.0 million in Q1 2024.
Health plan membership was about 217,500 at March 31, 2025, up 31.7% year over year.
Twelve-month 2025 revenue outlook is $3,770 million to $3,815 million; Jim Head succeeds Thomas Freeman as CFO effective May 2, 2025.
Alignment Healthcare said its Chief Experience Officer, Hakan Kardes, resigned to pursue other professional opportunities. The resignation took effect immediately, but he will stay employed through May 16, 2025 to help transfer his duties to other senior employees.
Hakan Kardes notified the company of his resignation on April 9, 2025.
Resignation as Chief Experience Officer was effective immediately.
Kardes remains employed through May 16, 2025 to facilitate the transition of duties.
Alignment Healthcare reported fourth-quarter and full-year 2024 results on February 27, 2025, with revenue growth of 50.7% in the quarter and 48.3% for the year. Net losses narrowed from the prior year, and the company issued 2025 guidance of $3.72 billion to $3.78 billion in revenue and $35 million to $60 million in adjusted EBITDA.
Q4 2024 total revenue was $701.2 million, up 50.7% year over year; net loss was $(31.1) million versus $(47.2) million a year earlier.
Full-year 2024 total revenue was $2,703.6 million, up 48.3%; net loss was $(128.1) million versus $(148.2) million in 2023.
2025 guidance: revenue of $3.72 billion to $3.78 billion and adjusted EBITDA of $35 million to $60 million.
Health plan membership was about 189,100 at December 31, 2024, up 58.6% year over year.
Alignment Healthcare said it had about 209,900 health plan members as of January 1, 2025, up about 35% year over year, and expects 225,000 to 231,000 members by December 31, 2025. It reaffirmed its 2024 guidance and its confidence in about $40 million of adjusted EBITDA in 2025, with 2025 guidance to come on its fourth-quarter earnings call. The filing also says Dawn Maroney was promoted to President, effective immediately, to oversee day-to-day operations, while the filing provides no fourth-quarter or full-year 2024 results.
Health plan membership of about 209,900 as of January 1, 2025, up about 35% from January 1, 2024
Expects 225,000 to 231,000 members as of December 31, 2025, about 22% to 25% growth versus the midpoint of year-end 2024 membership guidance
Reaffirmed 2024 guidance: revenue of $2,665 million to $2,680 million and adjusted EBITDA of ($10) million to $5 million
Dawn Maroney promoted to President effective January 13, 2025; she reports to founder and CEO John Kao
Alignment Healthcare completed the sale of $330 million of 4.25% convertible senior notes due 2029 and reported net cash proceeds of approximately $321.05 million. The company used the proceeds to repay in full the term loans under its Oxford Loan Agreement, which had $215 million of principal outstanding, and the agreement was terminated. The notes can convert into common stock, so the financing changes the company's debt structure and could affect shareholders if conversion occurs.
$330 million aggregate principal of 4.25% Convertible Senior Notes due 2029, issued under an indenture dated November 22, 2024, with U.S. Bank Trust Company, National Association, as trustee
Net cash proceeds of approximately $321.05 million after fees, discounts and estimated expenses
Oxford term loans, which carried interest at SOFR + 6.5%, were repaid in full on November 22, 2024, with $215 million outstanding as of that date, and all liens were released
Notes were sold to institutional accredited and qualified institutional buyers in a private offering exempt from Securities Act registration
Alignment Healthcare entered into subscription agreements on November 14, 2024 to privately issue $330 million of 4.25% convertible senior notes due November 15, 2029, with closing expected on November 22, 2024. The company expects net proceeds of about $321.05 million, which it intends to use to repay its existing term loan, which bears interest at SOFR + 6.5%, and for general corporate purposes. The notes are convertible into common stock at an initial price of about $16.04 per share, a 25% premium to the November 14, 2024 closing price, so conversion could add shares outstanding.
Principal: $330 million of 4.25% convertible senior notes due November 15, 2029, sold in a private placement
Expected net cash proceeds: about $321.05 million, to repay the term loan (SOFR + 6.5%) and for general corporate purposes
Initial conversion price: about $16.04 per share, a 25% premium to the November 14, 2024 closing price
Expected closing: November 22, 2024, subject to customary closing conditions
Alignment Healthcare reported third-quarter 2024 results, with total revenue of $692.4 million, up 51.6% from a year earlier, and a net loss of $26.4 million, narrowed from $35.1 million. The company raised its full-year 2024 revenue and membership guidance and narrowed its adjusted gross profit and adjusted EBITDA guidance.
Q3 total revenue was $692.4 million, up from $456.7 million in the year-earlier quarter.
Net loss was $26.4 million, or $(0.14) per share, versus a net loss of $35.1 million, or $(0.19) per share, a year earlier.
Health plan membership was about 182,300 at quarter end, up 57.7% year over year.
Full-year 2024 revenue guidance is $2.665 billion to $2.680 billion; full-year adjusted EBITDA guidance is a loss of $10 million to income of $5 million.
Directors Jeffrey Margolis and Thomas Carella resigned from the board effective immediately, with the company saying the resignations were not due to any disagreement. Mr. Margolis also entered a consulting agreement with the company's primary operating subsidiary, and the board cut its authorized size and reshuffled committee leadership to keep Nasdaq listing compliance.
Jeffrey Margolis and Thomas Carella resigned from the board, notified August 13, 2024 and August 14, 2024, respectively
Board authorized size reduced from eleven to nine directors; Margaret McCarthy reclassified from Class I to Class III
Margolis consulting agreement effective August 13, 2024, with a one-time payment of $18,333 and monthly retainers ranging from $9,167 to $21,667 through June 2026
Alignment Healthcare reported second-quarter 2024 revenue of $681.3 million, up 47.3% from a year earlier, and a net loss of $24.0 million, narrowed from $28.5 million. The company raised its year-end membership and revenue guidance and kept its full-year adjusted gross profit and adjusted EBITDA guidance unchanged, which shows the larger revenue base is also producing a smaller loss.
Total revenue was $681.3 million, up 47.3% year over year, and health plan membership was about 175,100, up 56.1%.
Adjusted EBITDA was $6.0 million, compared with a loss of $2.1 million a year earlier; net loss was $24.0 million versus $28.5 million.
Full-year 2024 revenue guidance was raised to $2.61 billion to $2.64 billion, and year-end membership guidance was raised to 178,000 to 180,000.
Full-year adjusted gross profit ($280 million to $310 million) and adjusted EBITDA (–$12 million to $12 million) guidance was maintained.
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