Alignment Healthcare, Inc. (ALHC) Income Statement
ALHC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsALHC revenue and net income
Where ALHC's revenue goes
2025Each bar shows an amount and its share of revenue. ALHC kept −0.0% of revenue as net income.
ALHC profit margins
ALHC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +46.1% | +40.2% | +32.7% | — |
| Gross profit | +64.7% | +38.4% | +24.1% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ALHC quarterly EPS vs estimates
Alignment Healthcare beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 29, 2026 (estimate $-0.04).
ALHC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.95B | $2.70B | $1.82B | $1.43B | $1.17B | $959.2M | $757.0M |
| Cost of revenue | $3.46B | $2.41B | $1.62B | $1.25B | $1.04B | $793.0M | $661.4M |
| Gross profit | $488.6M | $296.7M | $201.0M | $184.3M | $128.7M | $166.2M | $95.6M |
| Sales, general & admin | $443.4M | $368.9M | $305.5M | $295.6M | $291.0M | $156.4M | $110.1M |
| Total operating expenses | $473.8M | $398.2M | $328.8M | $312.9M | $306.8M | $171.5M | $125.1M |
| Operating income | $14.8M | −$101.6M | −$127.8M | −$128.6M | −$178.1M | −$5.3M | −$29.5M |
| Interest expense | $15.8M | $23.5M | $21.2M | $18.3M | $17.4M | $16.9M | $14.9M |
| Income before taxes | −$958,000 | −$128.1M | −$148.2M | −$149.3M | −$195.3M | −$22.9M | −$44.7M |
| Income taxes | $20,000 | $21,000 | −$22,000 | $339,000 | $17.7M | $16.2M | $14.5M |
| Net income | −$724,000 | −$128.0M | −$148.0M | −$149.5M | −$195.3M | −$22.9M | −$44.7M |
| EBITDA | $45.3M | −$77.4M | −$105.3M | −$113.5M | −$161.8M | $9.5M | −$13.3M |
| EPS (diluted) | $0.23 | −$0.35 | −$0.58 | −$0.65 | −$0.96 | −$0.06 | −$0.07 |
| Gross margin | 12.4% | 11.0% | 11.0% | 12.8% | 11.0% | 17.3% | 12.6% |
| Operating margin | 0.4% | −3.8% | −7.0% | −9.0% | −15.2% | −0.5% | −3.9% |
| Net margin | −0.0% | −4.7% | −8.1% | −10.4% | −16.7% | −2.4% | −5.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.34B | $1.24B | $1.01B | $993.7M | $1.02B | $926.9M | $701.2M | $692.4M | $681.3M | $628.6M | $465.4M | $456.7M |
| Cost of revenue | $1.15B | $1.09B | $889.5M | $868.0M | $881.7M | $820.9M | $614.9M | $613.4M | $605.3M | $573.2M | $417.8M | $397.9M |
| Gross profit | $181.0M | $144.5M | $123.3M | $125.7M | $133.5M | $106.0M | $86.3M | $79.0M | $76.0M | $55.4M | $47.6M | $58.8M |
| Sales, general & admin | $131.0M | $121.1M | $125.8M | $110.0M | $103.8M | $103.8M | $100.8M | $90.9M | $87.9M | $90.5M | $85.7M | $83.1M |
| Total operating expenses | $138.9M | $129.0M | $133.6M | $118.0M | $110.8M | $111.4M | $108.9M | $98.5M | $94.4M | $96.5M | $89.5M | $88.6M |
| Operating income | $42.1M | $15.5M | −$10.3M | $7.7M | $22.7M | −$5.4M | −$22.5M | −$19.5M | −$18.4M | −$41.1M | −$41.9M | −$29.8M |
| Interest expense | $4.3M | $4.1M | $3.9M | $4.0M | $4.0M | $4.0M | $5.5M | $6.9M | $5.7M | $5.4M | $5.5M | $5.5M |
| Income before taxes | $37.8M | $11.4M | −$14.2M | $3.7M | $18.9M | −$9.3M | −$31.1M | −$26.4M | −$24.0M | −$46.6M | −$47.3M | −$35.1M |
| Income taxes | $1.3M | $25,000 | −$3.2M | $2,000 | $3.2M | $21,000 | $7,000 | −$8,000 | $22,000 | −$54,000 | −$24,000 | −$30,000 |
| Net income | $36.6M | $11.4M | −$11.0M | $3.7M | $15.7M | −$9.1M | −$31.1M | −$26.4M | −$24.0M | −$46.5M | −$47.2M | −$35.0M |
| EBITDA | $50.0M | $23.4M | −$2.5M | $15.7M | $29.9M | $2.2M | −$18.8M | −$11.8M | −$11.8M | −$35.1M | −$35.9M | −$24.1M |
| EPS (diluted) | $0.17 | $0.12 | −$0.05 | $0.10 | $0.14 | $0.04 | −$0.06 | −$0.14 | −$0.03 | −$0.12 | −$0.25 | −$0.18 |
| Gross margin | 13.5% | 11.7% | 12.2% | 12.6% | 13.2% | 11.4% | 12.3% | 11.4% | 11.2% | 8.8% | 10.2% | 12.9% |
| Operating margin | 3.2% | 1.3% | −1.0% | 0.8% | 2.2% | −0.6% | −3.2% | −2.8% | −2.7% | −6.5% | −9.0% | −6.5% |
| Net margin | 2.7% | 0.9% | −1.1% | 0.4% | 1.5% | −1.0% | −4.4% | −3.8% | −3.5% | −7.4% | −10.1% | −7.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ALHC's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ALHC financial results
In fiscal year 2025 (ended December 31, 2025), Alignment Healthcare reported revenue of $3.9 billion, up 46.1% from the year before. It had a net loss of $0.7 million, a net profit margin of −0.0%. Diluted earnings per share came to $0.23. Over five years revenue grew at an average rate of 32.7% a year.
See the ALHC stock overview for the latest quote and news, or the ALHC chart for price history and technical indicators.
ALHC income statement FAQ
What is Alignment Healthcare's annual revenue?
Alignment Healthcare reported total revenue of $3.9 billion for fiscal year 2025, which ended on December 31, 2025. That was up 46.1% from $2.7 billion the previous year.
Is Alignment Healthcare profitable?
No. Alignment Healthcare reported a net loss of $0.7 million in fiscal 2025, a net profit margin of −0.0%; its operating margin was 0.4%.
What is Alignment Healthcare's gross margin?
Alignment Healthcare's gross margin was 12.4% in fiscal 2025: for every $100 of revenue, Alignment Healthcare kept $12 after the direct cost of its products and services.
How fast is Alignment Healthcare growing?
Revenue grew 32.7% a year on average over the last five fiscal years, from $959.2 million to $3.9 billion.
What are Alignment Healthcare's earnings per share?
Alignment Healthcare earned $0.23 per diluted share in fiscal 2025, compared with $-0.35 a year earlier.
When will Alignment Healthcare report its next earnings?
Alignment Healthcare is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 after the market closes.
When does Alignment Healthcare's fiscal year end?
Alignment Healthcare's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.