AI-extracted from the 10-Q filed 2026-07-30 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Revenue grew 31.6% YoY to $1,335.6M on 31.5% Health Plan Membership growth, while net income more than doubled to $36.6M as MBR improved to 86.3% and SG&A leverage kicked in.
Biggest Revenue Drivers
Earned premiums$1,326.6M+31.8% YoY
Increase primarily driven by growth in Health Plan Membership, which increased 31.5% YoY
Other$9.0M-0.8% YoY
Decrease mainly due to no longer participating in the ACO REACH program and lower third-party provider service revenue, partly offset by higher interest income
Biggest Revenue Drivers
Total revenue: $1,335.6M+31.6% YoY
Earned premiums$1,326.6M+31.8% YoY
Increase primarily driven by growth in Health Plan Membership, which increased 31.5% YoY
Other$9.0M-0.8% YoY
Decrease mainly due to no longer participating in the ACO REACH program and lower third-party provider service revenue, partly offset by higher interest income
Largest Expense Items
Medical expenses$1,154.7M+31.0% YoY
Driven primarily by Health Plan membership growth, higher benefits for members in certain plans, and an increase in unit costs
Selling, general and administrative expenses$131.0M+26.2% YoY
Increase due to ongoing investments in operations, technology, network development, and sales and marketing to drive membership growth
Depreciation and amortization$7.9M+12.2% YoY
Increase primarily due to the amount and timing of capital expenditures relative to 2025
Margins: Medical benefits ratio improved slightly to 86.3% from 86.7% YoY, and SG&A fell to 9.8% of revenue from 10.2% on economies of scale from membership growth, lifting income-from-operations margin to 3.1% from 2.3%.
Watch Items from the Filing
A former executive officer filed a whistleblower retaliation lawsuit on July 7, 2026 alleging he was terminated after reporting accounting irregularities; no accrual has been recorded.
Company's California HMO plan is under a CMS RADV audit for payment year 2019 with potential extrapolated overpayment findings, though a federal court vacated CMS's extrapolation rule in September 2025.
Recognized unfavorable prior year reserve development of $6.5 million in Q2 2026 due to worse-than-expected claims recoveries and higher-than-expected claims expense.
Operations concentrated in just five states (California, North Carolina, Nevada, Arizona, Texas), with California historically the largest market.
Discontinued third-party capitation arrangements as of January 1, 2026, removing a small but historically present revenue stream (capitation revenue fell to $0.3M in Q2 2026 from $1.6M a year earlier).
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About Alignment Healthcare, Inc. (ALHC): stock profile, AI score and financials
Alignment Healthcare, Inc. (ALHC) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores ALHC at 64.3/100 on a composite quality score built from its SEC filings, placing it at rank #551 of 2,925 stocks — the top 25% of the AI-ranked universe. ALHC scores in the top quartile across earnings quality (97.6), revenue growth (92.5), revenue scale (76.6). Areas of concern include institutional flow (27.9) and free cash flow (39.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 43.9/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Alignment Healthcare, Inc. reports quarterly revenue of $1.3B, net income of $36.6M, an operating margin of 3.1%. Top institutional holders of ALHC by reported 13-F value include BlackRock, WELLINGTON MANAGEMENT GROUP LLP, FMR, based on the most recent SEC filings. ALHC trades on the Nasdaq exchange and files with the SEC under CIK 1832466. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ALHC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Alignment Healthcare, Inc. directly from SEC EDGAR.