Table of Contents _______________________________________ _______________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share ALHC The Nasdaq Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _______________________________________ FORM 10-Q _______________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...

EXHIBIT 99.1 Alignment Healthcare Reports First Quarter 2024 Results ORANGE, Calif., May 02, 2024 (GLOBE NEWSWIRE) -- Alignment Healthcare, Inc. (NASDAQ: ALHC), today reported financial results for its first quarter ended March 31, 2024. "Alignment Healthcare's first quarter results are a testament to the strength and resilience of our Medicare Advantage platform, reflecting our commitment to delivering exceptional care while effectively managing medical costs," said John Kao, founder and CEO. "Through the ...

Alignment Healthcare, Inc. (NASDAQ:ALHC) Q4 2023 Earnings Conference Call February 27, 2024 5:30 PM ET Company Participants John Kao - Chief Executive Officer Thomas Freeman - Chief Financial Officer Conference Call Participants John Ransom - Raymond James Nathan Rich - Goldman Sachs Scott Fidel - Stephens Ryan Daniels - William Blair Jessica Tassan - Piper Sandler Whit Mayo - Leerink Partners Kevin Fischbeck - Bank of America Operator Good afternoon and welcome to Alignment Healthcare Fourth Quarter 2023 E ...

ta 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, 2023 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 juris ...

EXHIBIT 99.1 Alignment Healthcare Reports Fourth Quarter and Full-Year 2023 Results; Provides Full- Year 2024 Financial Guidance ORANGE, Calif., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Alignment Healthcare, Inc. (NASDAQ: ALHC), today reported financial results for its fourth quarter and full year ended Dec. 31, 2023. "Alignment Healthcare is built to thrive in the current Medicare Advantage market with our clinical framework and data-driven operations," said John Kao, founder and CEO. "I am confident that the inv ...

Alignment Healthcare, Inc. (NASDAQ:ALHC) Q3 2023 Earnings Conference Call November 2, 2023 5:30 PM ET Company Participants John Kao - Chief Executive Officer Thomas Freeman - Chief Financial Officer Conference Call Participants John Ransom - Raymond James Scott Fidel - Stephens Nathan Rich - Goldman Sachs Whit Mayo - Leerink Partners Jessica Tassan - Piper Sandler Adam Ron - Bank of America Operator Good day, and thank you for standing by. Welcome to Alignment Healthcare Third Quarter 2023 Earnings Conferen ...

[PART I. Financial Information](index=6&type=section&id=PART%20I.%20Financial%20Information) [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for the quarter ended September 30, 2023, showing a 26.7% revenue increase and growth in total assets to **$770.8 million**, alongside an increased net loss Condensed Consolidated Statements of Operations Highlights | Metric | Three Months Ended Sep 30, 2023 ($) | Three Months Ended Sep 30, 2022 ($) | Nine Months Ended Sep 30, 2023 ($) | Nine Months Ended Sep 30, 2022 ($) | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | $456.7M | $360.3M | $1,358.2M | $1,072.3M | | **Loss from Operations** | $(29.8M) | $(33.4M) | $(85.9M) | $(76.5M) | | **Net Loss** | $(35.1M) | $(40.2M) | $(100.9M) | $(92.6M) | | **Net Loss Per Share** | $(0.19) | $(0.22) | $(0.54) | $(0.51) | Condensed Consolidated Balance Sheet Highlights | Metric | September 30, 2023 ($) | December 31, 2022 ($) | | :--- | :--- | :--- | | **Total Current Assets** | $667.0M | $544.5M | | **Total Assets** | $770.8M | $633.9M | | **Total Current Liabilities** | $410.3M | $230.0M | | **Total Liabilities** | $581.2M | $394.6M | | **Total Stockholders' Equity** | $189.6M | $239.3M | Condensed Consolidated Statements of Cash Flows Highlights (Nine Months Ended) | Metric | September 30, 2023 ($) | September 30, 2022 ($) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $128.3M | $103.8M | | **Net cash used in investing activities** | $(146.2M) | $(20.1M) | | **Net cash provided by financing activities** | $0.06M | $17.1M | | **Net decrease in cash** | $(17.9M) | $100.8M | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=27&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting an **18%** membership growth and **26.7%** revenue increase for the nine months ended September 30, 2023, alongside an increased Medical Benefits Ratio [Overview](index=27&type=section&id=Overview) Alignment Healthcare operates a consumer-centric platform focused on improving healthcare for seniors through Medicare Advantage plans, serving **115,600** members across **52** markets in **6** states - The company's business model is a "virtuous cycle" where managing healthcare expenditures allows reinvestment into richer benefits, which in turn drives membership growth[138](index=138&type=chunk) - Health Plan Membership grew to **115,600** as of September 30, 2023, representing a **28%** compound annual growth rate since inception[137](index=137&type=chunk) - The company operates in **52** markets across California, North Carolina, Nevada, Arizona, Texas, and Florida, with approximately **8.5 million** Medicare-eligible seniors in these markets[139](index=139&type=chunk) [Results of Operations](index=32&type=section&id=Results%20of%20Operations) Total revenues increased by **26.7%** to **$1.36 billion** for the nine months ended September 30, 2023, driven by membership growth, while medical expenses rose **30.4%** to **$1.20 billion** Revenue Comparison (Nine Months Ended Sep 30) | Revenue Type | 2023 ($) | 2022 ($) | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Earned Premiums** | $1,341.9M | $1,071.5M | +$270.4M | +25.2% | | **Other** | $16.3M | $0.9M | +$15.4M | +1717.3% | | **Total Revenues** | $1,358.2M | $1,072.3M | +$285.9M | +26.7% | Expense Comparison (Nine Months Ended Sep 30) | Expense Type | 2023 ($) | 2022 ($) | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Medical Expenses** | $1,204.8M | $923.9M | +$281.0M | +30.4% | | **SG&A Expenses** | $223.7M | $212.4M | +$11.3M | +5.3% | | **Depreciation & Amortization** | $15.6M | $12.6M | +$3.0M | +24.1% | - The increase in medical expenses was driven by growth in Health Plan and ACO REACH membership, richer member benefits, and a smaller amount of favorable prior year development[168](index=168&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2023, the company held **$515.6 million** in liquid assets, which management deems sufficient to fund operations for at least the next 12 months, supported by a **$250 million** term loan agreement - The company held **$515.6 million** in cash, cash equivalents, and short-term investments as of September 30, 2023[173](index=173&type=chunk) - The company has a term loan agreement with Oxford Finance LLC for up to **$250 million**, with an initial loan of **$165 million** received in September 2022, bearing a variable interest rate based on SOFR plus a **6.50%** margin[178](index=178&type=chunk) - Net cash provided by operating activities was **$128.3 million** for the nine months ended September 30, 2023, an increase from **$103.8 million** in the prior year period, primarily due to the timing of CMS premium payments[185](index=185&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk exposure is inflation, which has not materially affected operating results to date, and the company does not hold financial instruments for trading purposes - The main market risk identified is inflation, which has not had a material effect on operating results to date[191](index=191&type=chunk)[192](index=192&type=chunk) [Item 4. Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal controls over financial reporting during the quarter - The CEO and CFO concluded that disclosure controls and procedures were effective as of September 30, 2023[193](index=193&type=chunk) - No material changes were identified in the company's internal control over financial reporting during the third quarter of 2023[194](index=194&type=chunk) [PART II. Other Information](index=39&type=section&id=PART%20II.%20Other%20Information) [Item 1. Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) The company discloses a tentative **$912,500** settlement in a class action lawsuit regarding employee meal and rest breaks, which has been accrued as a potential liability pending court approval - The company entered into a tentative settlement for **$912,500** in the Dabney v. Alignment Healthcare USA, LLC class action lawsuit concerning employee meal and rest breaks[130](index=130&type=chunk) - The settlement amount has been accrued as a potential liability as of September 30, 2023, pending court approval expected in Q1 2024[130](index=130&type=chunk) [Item 1A. Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) The company states that there have been no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K - There have been no material changes to the risk factors disclosed in the Annual Report[196](index=196&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=39&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section confirms no unregistered sales of equity securities occurred during the period and no material change in the planned use of **$361.6 million** net proceeds from the March 2021 IPO - The company's IPO in March 2021 generated approximately **$361.6 million** in net proceeds[196](index=196&type=chunk) - There has been no material change in the use of proceeds from the IPO as described in the original prospectus[197](index=197&type=chunk) [Item 6. Exhibits](index=40&type=section&id=Item%206.%20Exhibits) This section provides a list of all exhibits filed with the Form 10-Q, including corporate governance documents, employment agreements, and Sarbanes-Oxley Act certifications - The report includes exhibits such as the CEO and CFO certifications pursuant to the Sarbanes-Oxley Act, and various employment and separation agreements[199](index=199&type=chunk)

Alignment Healthcare, Inc. (NASDAQ:ALHC) Q2 2023 Earnings Conference Call August 3, 2023 5:30 PM ET Company Participants John Kao - CEO Thomas Freeman - CFO Conference Call Participants Ryan Daniels - William Blair Michael Ha - Morgan Stanley Whit Mayo - SVB Adam Ron - Bank of America Gary Taylor - Cowen Jessica Tassan - Piper Sandler Calvin Sternick - JPMorgan Nathan Rich - Goldman Sachs Operator Good afternoon and welcome to the Alignment Healthcare Second Quarter 2023 Earnings Conference Call and Webcast ...

[PART I. Financial Information](index=4&type=section&id=PART%20I.%20Financial%20Information) [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) Presents unaudited condensed consolidated financial statements, including balance sheets, statements of operations, stockholders' equity, cash flows, and detailed accounting policy notes for June 30, 2023 [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$783.5 million** by June 30, 2023, driven by deferred premium revenue and short-term investments, while total liabilities rose and stockholders' equity declined Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | $395,258 | $409,549 | | Short-term investments | $122,249 | $0 | | **Total assets** | **$783,546** | **$633,863** | | Medical expenses payable | $207,198 | $170,135 | | Deferred premium revenue | $147,477 | $308 | | **Total liabilities** | **$572,434** | **$394,561** | | **Total stockholders' equity** | **$211,112** | **$239,302** | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2023 net loss increased to **$28.5 million** due to medical expenses growing faster than total revenues, widening net loss per share to **$(0.15)** Q2 Statement of Operations Highlights (in thousands, except per share data) | Metric | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | Total revenues | $462,379 | $366,474 | | Medical expenses | $410,644 | $307,269 | | Loss from operations | $(23,659) | $(6,648) | | Net loss | $(28,494) | $(11,580) | | Net loss per share | $(0.15) | $(0.06) | Six-Month Statement of Operations Highlights (in thousands, except per share data) | Metric | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Total revenues | $901,534 | $712,000 | | Medical expenses | $806,959 | $611,027 | | Loss from operations | $(56,148) | $(43,123) | | Net loss | $(65,865) | $(52,397) | | Net loss per share | $(0.36) | $(0.29) | [Condensed Consolidated Statements of Stockholders' Equity](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) Total stockholders' equity decreased to **$211.1 million** by June 30, 2023, primarily due to a **$65.9 million** net loss, partially offset by equity-based compensation - The accumulated deficit grew from **$(732.2) million** at the end of 2022 to **$(798.0) million** as of June 30, 2023, reflecting the ongoing net losses[24](index=24&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities significantly improved to **$122.3 million** for the first six months of 2023, driven by deferred premium revenue, while investing activities used **$136.6 million** Six-Month Cash Flow Summary (in thousands) | Cash Flow Activity | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $122,287 | $(1,284) | | Net cash used in investing activities | $(136,638) | $(11,982) | | Net cash provided by (used in) financing activities | $60 | $(100) | | **Net decrease in cash** | **$(14,291)** | **$(13,366)** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Detailed notes explain significant accounting policies, including revenue recognition, medical expenses payable, and fair value measurements, alongside disclosures on debt, equity compensation, and regulatory capital, notably **$147.5 million** in deferred premium revenue - Premium revenue is derived monthly from CMS and is recognized in the month members are entitled to services, subject to risk adjustments based on member health severity, which are estimated and recorded throughout the year[40](index=40&type=chunk)[45](index=45&type=chunk) - Medical expenses payable includes estimates for claims incurred but not yet paid (IBNP), developed using an actuarial process considering factors like cost trends, historical payment patterns, and seasonality[55](index=55&type=chunk)[56](index=56&type=chunk) - The company entered into a senior secured term loan agreement with Oxford Finance for up to **$250 million**, with an initial draw of **$165 million**, at a variable interest rate based on SOFR plus **6.50%**[102](index=102&type=chunk) - Due to the early receipt of the July premium payment from CMS, the company recorded deferred premium revenue of **$147.5 million** as of June 30, 2023, to be recognized as revenue in July 2023[50](index=50&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 2023 performance, noting **17%** membership growth and **26.2%** revenue increase, offset by **33.6%** higher medical expenses, resulting in an **88.4%** MBR and increased operating loss, while maintaining strong liquidity of **$517.5 million** Key Financial Metrics Q2 2023 vs Q2 2022 | Metric | Q2 2023 | Q2 2022 | % Change | | :--- | :--- | :--- | :--- | | Health plan membership | 112,200 | 95,900 | 17.0% | | Revenues | $462.4M | $366.5M | 26.2% | | Medical benefits ratio | 88.4% | 83.4% | 5.0% | | Loss from Operations | $(23.7M) | $(6.6M) | NM | | Adjusted EBITDA | $(2.1M) | $10.3M | NM | [Overview](index=26&type=section&id=Overview) Alignment Healthcare, a Medicare Advantage provider, leverages its AVA platform and clinical model to serve **112,200** Health Plan Members across **52** markets in **6** states, aiming to improve outcomes and control costs - The company's business model is a "virtuous cycle" that uses data and engagement to lower healthcare costs, allowing reinvestment into richer benefits, which in turn drives membership growth[135](index=135&type=chunk) - As of June 30, 2023, Health Plan Membership reached **112,200**, operating in **52** markets across California, North Carolina, Nevada, Arizona, Texas, and Florida[134](index=134&type=chunk)[136](index=136&type=chunk) [Factors Affecting Our Performance](index=26&type=section&id=Factors%20Affecting%20Our%20Performance) Performance is driven by membership growth, CMS Star ratings, MBR management, and AVA platform investments, with seasonality impacting member growth, medical costs, and sales and marketing expenses - Key growth drivers include capitalizing on existing market opportunities (currently only **2%** market share in its **52** counties) and expanding into new markets like Florida and Texas[138](index=138&type=chunk)[139](index=139&type=chunk) - The company's clinical model has demonstrated the ability to lower the Medical Benefits Ratios (MBRs) of returning members over time, which is key to its unit economics[142](index=142&type=chunk) - Business results are seasonal, with most member growth occurring on January 1st, higher medical costs in Q1 and Q4 (e.g., due to influenza), and greater sales and marketing investment in the second half of the year for the Annual Enrollment Period[145](index=145&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Q2 2023 total revenues grew **26.2%** to **$462.4 million**, but medical expenses increased **33.6%** to **$410.6 million**, leading to an operating loss of **$23.7 million** - The **25.3%** increase in earned premiums for the first six months of 2023 was driven by growth in Health Plan membership and higher CMS benchmark rates[162](index=162&type=chunk) - The **32.1%** increase in medical expenses for the first six months outpaced revenue growth due to a mix shift towards ACO REACH patients, richer member benefits, seasonality of utilization, and a smaller amount of favorable prior year development[164](index=164&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2023, the company held **$517.5 million** in liquid assets, deemed sufficient for the next 12 months, and was in compliance with covenants on its **$165 million** term loan - The company had **$517.5 million** in cash, cash equivalents, and short-term investments as of June 30, 2023, including **$147.5 million** in deferred premium revenue from an early CMS payment[169](index=169&type=chunk)[171](index=171&type=chunk) - Net cash from operations for the first six months of 2023 was **$122.3 million**, a significant increase from a **$1.3 million** use of cash in the prior year, primarily due to the timing of the deferred premium revenue payment from CMS[181](index=181&type=chunk)[182](index=182&type=chunk) - The company has an outstanding term loan of **$165 million** from Oxford Finance and was in compliance with all financial covenants, including minimum liquidity of **$23.0 million**, as of June 30, 2023[175](index=175&type=chunk)[179](index=179&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is inflation, which has not materially affected past operating results but could adversely impact future performance - The company's main market risk is inflation, which management believes has not had a material effect on results to date[189](index=189&type=chunk)[190](index=190&type=chunk) [Item 4. Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2023, with no material changes to internal controls over financial reporting during the quarter - The CEO and CFO concluded that disclosure controls and procedures were effective as of June 30, 2023[191](index=191&type=chunk) - No material changes were made to internal control over financial reporting during the quarter ended June 30, 2023[192](index=192&type=chunk) [PART II. Other Information](index=37&type=section&id=PART%20II.%20Other%20Information) [Item 1. Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) The company is defending a class action lawsuit regarding employee meal and rest breaks, with no liability accrued due to an inability to estimate potential loss - A former employee filed a class action lawsuit (Dabney v. Alignment Healthcare USA, LLC) alleging failure to provide required meal and rest breaks; the company is defending the action and has not accrued a liability as of June 30, 2023[128](index=128&type=chunk) [Item 1A. Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) No material changes to previously disclosed risk factors from the Annual Report on Form 10-K were reported - No material changes to risk factors from the Annual Report were reported for this quarter[194](index=194&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=37&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred during the period, and the use of IPO proceeds remains consistent with the prospectus - There were no unregistered sales of equity securities in the period[194](index=194&type=chunk) - There has been no material change in the use of proceeds from the company's March 2021 IPO, which generated approximately **$361.6 million** in net proceeds for the company[195](index=195&type=chunk) [Other Information (Items 3-6)](index=37&type=section&id=Other%20Information%20%28Items%203-6%29) The company reported no defaults on senior securities, no mine safety disclosures, and no other material information for the period, with a list of exhibits provided - The company reported no defaults on senior securities (Item 3), no mine safety issues (Item 4), and no other material information (Item 5)[195](index=195&type=chunk)

Call Start: 17:30 January 1, 0000 6:28 PM ET Alignment Healthcare, Inc. (NASDAQ:ALHC) Q1 2023 Earnings Conference Call May 4, 2023, 5:30 pm ET Company Participants John Kao - CEO Thomas Freeman - CFO Conference Call Participants Ryan Daniels - William Blair Michael Ha - Morgan Stanley Whit Mayo - SVB Adam Ron - Bank of America Gary Taylor - Cowen Jessica Tassan - Piper Sandler Calvin Sternick - JPMorgan Nathan Rich - Goldman Sachs Operator Good day and thank you for standing by. Welcome to the Alignment Hea ...