[PART I. Financial Information](index=4&type=section&id=PART%20I.%20Financial%20Information) [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) This section presents the unaudited condensed consolidated financial statements for the quarter ended March 31, 2023 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets grew to $761.8 million, driven by current assets, while total liabilities rose to $537.8 million **Condensed Consolidated Balance Sheets** | Financial Metric | March 31, 2023 ($ in thousands) | December 31, 2022 ($ in thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | 384,261 | 409,549 | | Short-term investments | 103,483 | — | | Total current assets | 670,914 | 544,546 | | Total assets | 761,751 | 633,863 | | **Liabilities & Equity** | | | | Medical expenses payable | 185,670 | 170,135 | | Deferred premium revenue | 141,081 | 308 | | Total current liabilities | 374,187 | 229,961 | | Total liabilities | 537,811 | 394,561 | | Total stockholders' equity | 223,940 | 239,302 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Total revenues increased 27.1% to $439.2 million, while the net loss slightly improved to $37.4 million **Condensed Consolidated Statements of Operations** | Metric | Three Months Ended March 31, 2023 ($ in thousands) | Three Months Ended March 31, 2022 ($ in thousands) | | :--- | :--- | :--- | | Total revenues | 439,155 | 345,526 | | Medical expenses | 396,315 | 303,758 | | Selling, general, and administrative expenses | 70,408 | 74,293 | | Loss from operations | (32,489) | (36,475) | | Net loss | (37,371) | (40,817) | | Net loss per share - basic and diluted | $(0.20) | $(0.23) | [Condensed Consolidated Statements of Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Stockholders' equity decreased to $223.9 million, primarily due to the quarterly net loss of $37.4 million - The company's total stockholders' equity decreased by **$15.4 million** during the quarter, from $239.3 million to $223.9 million, mainly due to a **net loss of $37.4 million**, counteracted by **$22.0 million in equity-based compensation**[21](index=21&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was $85.1 million, while investing activities used $110.4 million, resulting in a net cash decrease **Condensed Consolidated Statements of Cash Flows** | Cash Flow Activity | Three Months Ended March 31, 2023 ($ in thousands) | Three Months Ended March 31, 2022 ($ in thousands) | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | 85,110 | (11,638) | | Net cash used in investing activities | (110,428) | (6,127) | | Net cash provided by financing activities | 30 | — | | Net decrease in cash | (25,288) | (17,765) | [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Details significant accounting policies, revenue recognition, and disclosures on debt, equity, and legal proceedings - The company's operations primarily consist of **Medicare Advantage Plans** in California, North Carolina, Nevada, Arizona, Florida, and Texas, operating as a single reportable segment[30](index=30&type=chunk)[33](index=33&type=chunk) - Premium revenue is derived monthly from CMS and adjusted for member risk factors, supplemented by capitation revenue and participation in the **CMS ACO REACH model**[37](index=37&type=chunk)[38](index=38&type=chunk)[40](index=40&type=chunk) - Due to the timing of CMS payments, the company recorded **$141.1 million in deferred premium revenue** at the end of Q1 2023, to be recognized in April 2023[47](index=47&type=chunk) - The company is subject to a **class action lawsuit** regarding meal and rest breaks, but has not accrued for any potential liability as the loss cannot be reasonably estimated[124](index=124&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Discusses Q1 2023 performance, including a 27.1% revenue increase and a higher Medical Benefits Ratio of 89.7% **Key Performance Metrics** | Metric | Q1 2023 | Q1 2022 | % Change | | :--- | :--- | :--- | :--- | | Health plan membership | 109,700 | 94,200 | 16.5% | | Revenues ($M) | 439.2 | 345.5 | 27.1% | | Medical benefits ratio | 89.7% | 87.0% | 2.7% | | Net loss ($M) | (37.4) | (40.8) | N/A | | Adjusted EBITDA ($M) | (5.2) | (3.9) | N/A | [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Revenue grew 27.1% driven by membership, while medical expenses rose 30.4% and SG&A expenses decreased 5.2% - **Revenue growth of 27.1%** was driven by a **16.2% increase in health plan membership**, higher CMS benchmark rates, and an additional **$19.8 million from ACO REACH**[157](index=157&type=chunk) - **Medical expenses increased 30.4%**, outpacing revenue due to richer member benefits, seasonal patterns, and a revenue mix shift towards ACO REACH patients[159](index=159&type=chunk) - **SG&A expenses decreased 5.2%** year-over-year, primarily due to a reduction in equity-based compensation; excluding this, SG&A increased 3.2%[160](index=160&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) The company holds $487.7 million in liquid assets, sufficient for the next 12 months, and is in compliance with its debt covenants - The company had **$487.7 million in cash, cash equivalents, and short-term investments** as of March 31, 2023, sufficient to fund operations for at least the next 12 months[163](index=163&type=chunk)[165](index=165&type=chunk) - The company has an outstanding **$165.0 million term loan** with a variable interest rate and was in compliance with all financial covenants as of March 31, 2023[168](index=168&type=chunk)[171](index=171&type=chunk) - **Net cash from operating activities was $85.1 million**, a significant increase from a use of $11.6 million in Q1 2022, mainly due to the timing of a large deferred premium revenue payment from CMS[173](index=173&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Identifies inflation as the primary market risk, though it has not had a material effect on recent operating results - The company's primary market risk is exposure to potential changes in **inflation**, which management believes has not had a material effect on operating results for the periods presented[182](index=182&type=chunk)[183](index=183&type=chunk) [Controls and Procedures](index=32&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes in internal controls - The Chief Executive Officer and Chief Financial Officer concluded that the company's **disclosure controls and procedures were effective** as of March 31, 2023[184](index=184&type=chunk) - **No material changes** to internal control over financial reporting occurred during the three months ended March 31, 2023[185](index=185&type=chunk) [PART II. Other Information](index=33&type=section&id=PART%20II.%20Other%20Information) [Legal Proceedings](index=33&type=section&id=Item%201.%20Legal%20Proceedings) Discloses a class action lawsuit from a former employee for which no liability has been accrued - The company is defending a **class action lawsuit** from a former employee regarding alleged meal and rest break violations; no liability has been accrued[124](index=124&type=chunk)[187](index=187&type=chunk) [Risk Factors](index=33&type=section&id=Item%201A.%20Risk%20Factors) Reports no material changes to the risk factors previously disclosed in the company's Annual Report - There have been **no material changes** to the risk factors disclosed in the company's Annual Report[187](index=187&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=33&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Confirms no unregistered sales of equity securities and no material change in the use of IPO proceeds - **No unregistered sales of equity securities** occurred during the three months ended March 31, 2023[187](index=187&type=chunk) - The company's March 2021 IPO generated approximately **$361.6 million in net proceeds**, with no material change in the intended use of these funds[187](index=187&type=chunk)[188](index=188&type=chunk) [Exhibits](index=34&type=section&id=Item%206.%20Exhibits) Lists all exhibits filed with the Form 10-Q, including required officer certifications

Alignment Healthcare, Inc. (NASDAQ:ALHC) Q4 2022 Results Conference Call February 28, 2023 5:00 PM ET Company Participants John Kao - Founder and Chief Executive Officer Thomas Freeman - Chief Financial Officer Conference Call Participants Whit Mayo - SVB Ryan Daniels - William Blair Michael Ha - Morgan Stanley John Ransom - Raymond James Kevin Fischbeck - BofA Cal Sternick - JPMorgan Nathan Rich - Goldman Sachs Operator Good afternoon, and welcome to Alignment Healthcare's Fourth Quarter 2022 Earnings Conf ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-40295 ALIGNMENT HEALTHCARE, INC. (Exact name of Registrant as specified in its Charter) Delaware 46-5596242 (State or other jurisdic ...

Alignment Healthcare, Inc. (NASDAQ:ALHC) Q3 2022 Earnings Conference Call November 3, 2022 5:30 PM ET Company Participants John Kao – Founder and Chief Executive Officer Thomas Freeman – Chief Financial Officer Conference Call Participants Jared Haase – William Blair John Ransom – Raymond James Michael Ha – Morgan Stanley Jessica Tassan – Piper Sandler Nabil Gutierrez – Bank of America Nathan Rich – Goldman Sachs Whit Mayo – SVB Securities Sarah James – Barclays Operator Good afternoon, and welcome to Align ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2022 was $366 million, representing a 19% year-over-year growth, with year-to-date revenue growth at 24% [6][14] - Health plan membership increased to 95,900 members, a 13% growth year-over-year [6][14] - Adjusted gross profit was $61 million, resulting in a minimum medical benefit ratio (MBR) of 83.4%, the lowest quarterly MBR since going public [6][16] - Adjusted EBITDA was positive $10 million for the quarter, contributing to a year-to-date adjusted EBITDA of positive $6 million [7][17] Business Line Data and Key Metrics Changes - The company reported 155 inpatient admissions per 1,000 members, which is 38% lower than Medicare fee-for-service [9][36] - The care management model powered by AVA technology has shown effectiveness in reducing hospital admissions and improving member care [9][39] Market Data and Key Metrics Changes - The company plans to expand into Florida and Texas, alongside eight new counties in existing states in 2023, targeting a total of approximately 20 million Medicare eligibles [11][12] - The anticipated expansion represents over 30% of the entire Medicare market [12] Company Strategy and Development Direction - The company aims to replicate its successful business model across various markets, focusing on local market management and provider engagement [8][10] - Investments will be made in service delivery, quality initiatives, and new market investments to support growth and profitability [7][19] - The company is committed to enhancing member experience and providing value-based care [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year financial metrics for 2022, despite potential COVID-related utilization increases [7][20] - The company is monitoring the impact of COVID variants on hospital utilization and is prepared to adjust strategies accordingly [20][21] - Management emphasized the importance of maintaining a balance between short-term profitability and long-term growth objectives [21][81] Other Important Information - The company released its inaugural ESG report, highlighting its commitment to health equity and improved health outcomes for members [22][23] - The company is focused on building strong provider relationships and enhancing its community presence through targeted hires [12][22] Q&A Session Summary Question: Market expansion and cash flow implications - Management discussed entering Texas and Florida, emphasizing the importance of having the right provider partners and competitive dynamics in these markets [26][28] Question: Sweep payments and provider sharing - Management explained that sweep payments are shared with providers through various contract arrangements, ensuring that when the company wins, providers and members also benefit [30][32] Question: Inpatient admissions per 1,000 - Management confirmed that inpatient admissions per 1,000 were 155, which is significantly lower than Medicare fee-for-service, reflecting the effectiveness of their care delivery model [35][36] Question: Reinvestment of outperformance - Management indicated that reinvestment would focus on quality initiatives and improving member experience, alongside ramping up new market clinical hires [42][43] Question: Guidance and conservatism - Management clarified that the conservative guidance for the back half of the year is due to potential COVID impacts and normalization of prior period items [48][82] Question: Competitive landscape for 2023 - Management expressed confidence in their positioning for 2023, noting that while competitors may be aggressive, the company's unique model supports consistent growth [87][88] Question: Provider partnerships in new markets - Management affirmed their ability to establish competitive provider networks in Florida and Texas, which is crucial for their market entry strategy [90]

Alignment Healthcare, Inc. (NASDAQ:ALHC) Q1 2022 Earnings Conference Call May 5, 2022 5:30 PM ET Company Participants John Kao – Founder and Chief Executive Officer Thomas Freeman – Chief Financial Officer Conference Call Participants Ryan Daniels – William Blair Ricky Goldwasser – Morgan Stanley Jeff Garro – Piper Sandler Cal Sternick – JPMorgan Nathan Rich – Goldman Sachs Kevin Fischbeck – Bank of America Kevin Caliendo – Wells Fargo Operator Welcome to the Alignment Healthcare First Quarter 2022 Earnings ...

Alignment Healthcare, Inc. (NASDAQ:ALHC) Q4 2021 Earnings Conference Call March 3, 2022 5:00 PM ET Company Participants John Kao - Founder, CEO, President & Director Robert Freeman - CFO Conference Call Participants Ryan Daniels - William Blair & Company Michael Ha - Morgan Stanley John Ransom - Raymond James & Associates Jeffrey Garro - Piper Sandler & Co. Nathan Rich - Goldman Sachs Group Lisa Gill - JPMorgan Chase & Co. Sarah James - Barclays Bank Gary Taylor - Cowen and Company Kevin Fischbeck - Bank of ...