Alignment Healthcare, Inc. income statement
In fiscal 2025, Alignment Healthcare, Inc. reported revenue of $3.95bn, up 46.1% on the year before, operating income of $14.8m (a 0.4% margin) and net income of −$724,000, or $0.00 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 757 | 959 | 1,168 | 1,434 | 1,824 | 2,704 | 3,949 | 4,942 |
| Selling, general and administrative | 110 | 156 | 291 | 296 | 307 | 371 | 443 | 514 |
| Operating income | −29 | −5 | −178 | −129 | −128 | −102 | 15 | 44 |
| Interest expense | 15 | 17 | 17 | 18 | 21 | 24 | 16 | 17 |
| Income before tax | −45 | −23 | −195 | −149 | −148 | −128 | −1 | 27 |
| Income tax | 0 | 0 | 0 | 0 | −0 | 0 | 0 | −2 |
| Net income | −45 | −23 | −195 | −150 | −148 | −128 | −1 | 29 |
| Diluted EPS | −$0.03 | −$0.01 | −$1.14 | −$0.83 | −$0.79 | −$0.67 | $0.00 | $0.14 |
| Diluted shares (average) | — | — | 182m | 181m | 186m | 191m | 198m | 204m |
| EBITDA | −15 | 10 | −162 | −111 | −106 | −75 | 45 | 75 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 701 | 927 | 1,015 | 994 | 1,013 | 1,235 | 1,336 | 1,358 |
| Selling, general and administrative | 102 | 104 | 104 | 110 | 126 | 121 | 131 | 136 |
| Operating income | −23 | −5 | 23 | 8 | −10 | 16 | 42 | −4 |
| Interest expense | 5 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Income before tax | −31 | −9 | 19 | 4 | −14 | 11 | 38 | −8 |
| Income tax | 0 | 0 | 3 | 0 | −3 | 0 | 1 | −0 |
| Net income | −31 | −9 | 16 | 4 | −11 | 11 | 37 | −8 |
| Diluted EPS | −$0.16 | −$0.05 | $0.07 | $0.02 | −$0.05 | $0.05 | $0.17 | −$0.04 |
| EBITDA | −16 | 2 | 30 | 16 | −2 | 23 | 50 | 4 |
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