Alignment Healthcare Reports Second Quarter 2025 Results; Raises Full-Year Outlook Across All Key Metrics

Core Viewpoint - Alignment Healthcare's second quarter performance demonstrates that strong financial results and high-quality care can coexist with the right model, emphasizing a senior-first approach in Medicare Advantage [2][7]. Financial Highlights - Total revenue for Q2 2025 reached $1,015.3 million, reflecting a 49.0% increase year-over-year [7][8]. - Health plan membership grew to approximately 223,700, marking a 27.8% increase compared to the previous year [7][8]. - Adjusted gross profit was reported at $135.2 million, with an adjusted EBITDA of $45.9 million [8][10]. - The medical benefits ratio based on adjusted gross profit was 86.7% [8]. Outlook - The company raised its full-year outlook for health plan membership, revenue, adjusted gross profit, and adjusted EBITDA, indicating positive growth expectations [7][8]. Operational Performance - Income from operations for Q2 2025 was $22.7 million, a significant improvement from a loss of $18.4 million in Q2 2024 [9][18]. - Net income for the quarter was $15.7 million, compared to a net loss of $24.0 million in the same period last year [9][18]. Balance Sheet - As of June 30, 2025, total assets amounted to $1,000.2 million, with total liabilities at $859.2 million [17]. - Cash and cash equivalents increased to $470.3 million from $432.9 million year-over-year [17][19]. Cash Flow - Net cash provided by operating activities for the six months ended June 30, 2025, was $45.7 million, compared to $17.3 million in the prior year [19][20].