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Alignment Healthcare, Inc.

EDGAR
ALHC Quarterly report (10-Q) · filed 2026-10-29

Annual consolidated revenue for 2025: about USD 3.949B, using the latest reported figures. The previous period, 2024, was about USD 2.704B.

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Watchlist

Latest quarter

Revenue

1.36 billion USD

2026 Q3 · USD

Exact inputs and evidence
  • Revenue: 1358290000 USD Source

Operating margin

-0.28%

2026 Q3 · %

Exact inputs and evidence
  • Operating Income: -3794000 USD Source
  • Revenue: 1358290000 USD Source

Operating cash flow

47 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 158395000 USD Source
  • Operating Cash Flow: 111368000 USD Source

Free cash flow

38.6 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 158395000 USD Source
  • Operating Cash Flow: 111368000 USD Source
  • Capital Expenditure: 25952000 USD Source
  • Capital Expenditure: 17509000 USD Source
Cash and cash equivalents
728 million USD Source
Exact value

727694000 USD

Long-term debt including current maturities
324 million USD Source
Exact value

324497000 USD

Shares outstanding
209 million shares Source
Exact value

209152387 shares

Reported share-count change

4.58% · 9.16 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 199988515 shares · 2025-09-30· Source
  • 209152387 shares · 2026-09-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

4.94 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Revenue: 3948719000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 2935915000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 1235197000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 1335633000 USD · 2026-04-01 – 2026-06-30 Source
  • Revenue: 1358290000 USD · 2026-07-01 – 2026-09-30 Source

Net income

28.9 million USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Net income: -724000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 10282000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 11416000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 36560000 USD · 2026-04-01 – 2026-06-30 Source
  • Net income: -8052000 USD · 2026-07-01 – 2026-09-30 Source

Operating cash flow

108 million USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 139927000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 190302000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 128682000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 111368000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 128682000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 158395000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 111368000 USD · 2026-01-01 – 2026-06-30 Source

Capital expenditure

31 million USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Capital expenditure: 26781000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 21752000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 7364000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 17509000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 7364000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 25952000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 17509000 USD · 2026-01-01 – 2026-06-30 Source

Free cash flow

77 million USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 139927000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 190302000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 128682000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 111368000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 128682000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 158395000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 111368000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 26781000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 21752000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 7364000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 17509000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 7364000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 25952000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 17509000 USD · 2026-01-01 – 2026-06-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-29.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 7 of 11 periods available· newest 2025-12-31
  • Operating income: 7 of 11 periods available· newest 2025-12-31
  • Net income: 7 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 7 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 4 of 11 periods available· newest 2025-12-31
  • Total assets: 7 of 11 periods available· newest 2025-12-31
  • Total liabilities: 7 of 11 periods available· newest 2025-12-31
  • Current assets: 7 of 11 periods available· newest 2025-12-31
  • Current liabilities: 7 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 7 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 7 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 6 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +46.1%

    Prior period

    USD 2.7 billion

    –

    Current period

    USD 3.95 billion

    –

    Exact inputs and evidence

    3948719000 − 2703561000 = 1245158000 USD

    2703561000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3948719000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +USD 127.31 million

    Prior period

    −USD 128.04 million

    –

    Current period

    −USD 724,000

    –

    Exact inputs and evidence

    -724000 − -128035000 = 127311000 USD

    -128035000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -724000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +302.4%

    Prior period

    USD 34.77 million

    –

    Current period

    USD 139.93 million

    –

    Exact inputs and evidence

    139927000 − 34770000 = 105157000 USD

    34770000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    139927000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    -35.3%

    Prior period

    USD 41.42 million

    –

    Current period

    USD 26.78 million

    –

    Exact inputs and evidence

    26781000 − 41418000 = -14637000 USD

    41418000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    26781000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 3.95 billion 100% of revenue
  • Operating costs Derived USD 3.93 billion 100% of revenue
  • Operating income USD 14.75 million 0.4% of revenue
  • Tax, interest and other Derived USD 15.48 million 0.4% of revenue
  • Net income −USD 724,000 −0% of revenue

Cash

  • Operating cash flow USD 139.93 million 3.5% of revenue
  • Capital expenditure USD 26.78 million 0.7% of revenue
  • Free cash flow Derived USD 113.15 million 2.9% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2019 Operating loss: operating costs were 104% of revenue.
  • 2020 Operating loss: operating costs were 101% of revenue.
  • 2021 Operating loss: operating costs were 115% of revenue.
  • 2022 Operating loss: operating costs were 109% of revenue.
  • 2023 Operating loss: operating costs were 107% of revenue.
  • 2024 Operating loss: operating costs were 104% of revenue.
  • 2025 Net loss: net income was −0% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2019 2019-01-01 – 2019-12-31753973000 783457000 Derived -29484000 15248000 Derived -44732000 Unavailable
Source
2020 2020-01-01 – 2020-12-31955393000 960656000 Derived -5263000 17663000 Derived -22926000 Unavailable
Source
2021 2021-01-01 – 2021-12-311167085000 1345157000 Derived -178072000 17214000 Derived -195286000 Unavailable
Source
2022 2022-01-01 – 2022-12-311434159000 1562798000 Derived -128639000 20908000 Derived -149547000 -69201000 Derived
Source
2023 2023-01-01 – 2023-12-311823630000 1951447000 Derived -127817000 20200000 Derived -148017000 -95182000 Derived
Source
2024 2024-01-01 – 2024-12-312703561000 2805116000 Derived -101555000 26480000 Derived -128035000 -6648000 Derived
Source
2025 2025-01-01 – 2025-12-313948719000 3933967000 Derived 14752000 15476000 Derived -724000 113146000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 3.9B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4.3B3.2B2.1B1.1B0.0201920222025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2019Revenue753973000
2020Revenue955393000
2021Revenue1167085000
2022Revenue1434159000
2023Revenue1823630000
2024Revenue2703561000
2025Revenue3948719000

Revenue growth

Change in revenue from the same financial period one year earlier.

46.1% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.52%39%26%13%0%201920222025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2019Year over yearNo prior comparable period
2020Year over year26.7%
2021Year over year22.2%
2022Year over year22.9%
2023Year over year27.2%
2024Year over year48.3%
2025Year over year46.1%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 0.4% 2025
Net margin -0% 2025
Free cash flow margin 2.9% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4.4%-1.3%-6.9%-12.6%-18.3%201920222025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2019Operating margin-3.9%
2020Operating margin-0.6%
2021Operating margin-15.3%
2022Operating margin-9%
2023Operating margin-7%
2024Operating margin-3.8%
2025Operating margin0.4%
2019Net margin-5.9%
2020Net margin-2.4%
2021Net margin-16.7%
2022Net margin-10.4%
2023Net margin-8.1%
2024Net margin-4.7%
2025Net margin-0%
2019Free cash flow marginNot reported
2020Free cash flow marginNot reported
2021Free cash flow marginNot reported
2022Free cash flow margin-4.8%
2023Free cash flow margin-5.2%
2024Free cash flow margin-0.2%
2025Free cash flow margin2.9%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 139.9M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.157.4M94.0M30.6M-32.8M-96.3M201920222025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2019Operating cash flow9208000
2020Operating cash flow7561000
2021Operating cash flow-78776000
2022Operating cash flow-45427000
2023Operating cash flow-59187000
2024Operating cash flow34770000
2025Operating cash flow139927000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 113.1M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.129.8M69.4M9.0M-51.4M-111.8M201920222025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2019Free cash flowUnavailable
2020Free cash flowUnavailable
2021Free cash flowUnavailable
2022Free cash flow-69201000
2023Free cash flow-95182000
2024Free cash flow-6648000
2025Free cash flow113146000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

83.2% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.152%114%76%38%0%201920222025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2019Liabilities / assets140.7%
2020Liabilities / assets91%
2021Liabilities / assets51.5%
2022Liabilities / assets62.2%
2023Liabilities / assets73.3%
2024Liabilities / assets87.1%
2025Liabilities / assets83.2%

Current assets to current liabilities

Current assets divided by current liabilities.

1.71× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.3.57×2.68×1.79×0.89×0.00×201920222025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2019Current assets / current liabilities0.98×
2020Current assets / current liabilities1.72×
2021Current assets / current liabilities3.31×
2022Current assets / current liabilities2.37×
2023Current assets / current liabilities1.84×
2024Current assets / current liabilities1.88×
2025Current assets / current liabilities1.71×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2019 2019-01-01 – 2019-12-31
−USD 44.73 million
Exact value

Exact value: -44732000 USD

2019-01-01 – 2019-12-31: -44732000 USD Inspect Net Income Open source
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USD 9.21 million
Exact value

Exact value: 9208000 USD

2019-01-01 – 2019-12-31: 9208000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2020 2020-01-01 – 2020-12-31
−USD 22.93 million
Exact value

Exact value: -22926000 USD

2020-01-01 – 2020-12-31: -22926000 USD Inspect Net Income Open source
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USD 7.56 million
Exact value

Exact value: 7561000 USD

2020-01-01 – 2020-12-31: 7561000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2021 2021-01-01 – 2021-12-31
−USD 195.29 million
Exact value

Exact value: -195286000 USD

2021-01-01 – 2021-12-31: -195286000 USD Inspect Net Income Open source
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−USD 78.78 million
Exact value

Exact value: -78776000 USD

2021-01-01 – 2021-12-31: -78776000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2022 2022-01-01 – 2022-12-31
−USD 149.55 million
Exact value

Exact value: -149547000 USD

2022-01-01 – 2022-12-31: -149547000 USD Inspect Net Income Open source
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−USD 45.43 million
Exact value

Exact value: -45427000 USD

2022-01-01 – 2022-12-31: -45427000 USD Inspect Operating Cash Flow Open source
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USD 23.77 million
Exact value

Exact value: 23774000 USD

2022-01-01 – 2022-12-31: 23774000 USD Inspect Capital Expenditure Open source
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−USD 69.2 million
Calculation and evidence

-45427000 − 23774000 USD

Exact free cash flow: -69201000 USD

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2023 2023-01-01 – 2023-12-31
−USD 148.02 million
Exact value

Exact value: -148017000 USD

2023-01-01 – 2023-12-31: -148017000 USD Inspect Net Income Open source
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−USD 59.19 million
Exact value

Exact value: -59187000 USD

2023-01-01 – 2023-12-31: -59187000 USD Inspect Operating Cash Flow Open source
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USD 36 million
Exact value

Exact value: 35995000 USD

2023-01-01 – 2023-12-31: 35995000 USD Inspect Capital Expenditure Open source
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−USD 95.18 million
Calculation and evidence

-59187000 − 35995000 USD

Exact free cash flow: -95182000 USD

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2024 2024-01-01 – 2024-12-31
−USD 128.04 million
Exact value

Exact value: -128035000 USD

2024-01-01 – 2024-12-31: -128035000 USD Inspect Net Income Open source
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USD 34.77 million
Exact value

Exact value: 34770000 USD

2024-01-01 – 2024-12-31: 34770000 USD Inspect Operating Cash Flow Open source
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USD 41.42 million
Exact value

Exact value: 41418000 USD

2024-01-01 – 2024-12-31: 41418000 USD Inspect Capital Expenditure Open source
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−USD 6.65 million
Calculation and evidence

34770000 − 41418000 USD

Exact free cash flow: -6648000 USD

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2025 2025-01-01 – 2025-12-31
−USD 724,000
Exact value

Exact value: -724000 USD

2025-01-01 – 2025-12-31: -724000 USD Inspect Net Income Open source
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USD 139.93 million
Exact value

Exact value: 139927000 USD

2025-01-01 – 2025-12-31: 139927000 USD Inspect Operating Cash Flow Open source
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USD 26.78 million
Exact value

Exact value: 26781000 USD

2025-01-01 – 2025-12-31: 26781000 USD Inspect Capital Expenditure Open source
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USD 113.15 million
Calculation and evidence

139927000 − 26781000 USD

Exact free cash flow: 113146000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

31 filings · 2,130 latest values · 2,130 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001832466, 1832466, ALHC, edgar:1832466

Also known as ALIGNMENT HEALTHCARE, INC., Alignment Healthcare, Inc.