Core Insights - Alignment Healthcare, Inc. reported a health plan membership of approximately 275,300 as of January 1, 2026, reflecting a 31% year-over-year growth following a strong annual enrollment period [1] - The company anticipates health plan membership to reach between 290,000 and 296,000 by year-end 2026, indicating a growth of approximately 24% to 27% compared to the midpoint of its year-end 2025 membership guidance [2] - The expected consensus adjusted EBITDA for 2026 is approximately $145 million, which is within the full-year guidance range [2][8] - The company reaffirmed its full-year 2025 guidance on health plan membership, revenue, adjusted gross profit, and adjusted EBITDA [3][8] Company Performance - Since its IPO in 2021, Alignment Healthcare has achieved a compounded annual membership growth rate of approximately 30%, demonstrating sustained performance in the Medicare Advantage market [1] - 100% of its members are enrolled in plans rated 4 stars or higher for the second consecutive year, according to Centers for Medicare & Medicaid Services star ratings [4] Business Model and Strategy - The company emphasizes a care-centered model that aims to deliver high-quality outcomes and create shareholder value by serving seniors [4] - Alignment Healthcare's mission is to provide high-quality, low-cost care for its Medicare Advantage members, supported by a customized care model and a 24/7 concierge care team [7]