Thu, Feb 27, 9:59 PM (59 days ago)
**Alignment Healthcare, Inc. (ALHC) Summary** For the fiscal year ended December 31, 2024, Alignment Healthcare reported revenues of $2,704 million, a 48.3% increase from $1,824 million in 2023, driven by a 58.6% growth in health plan membership to approximately 189,100 members. Despite this growth, the company incurred a net loss of $128 million, slightly improved from a $148 million loss in the prior year, with a medical benefits ratio of 88.8%. Operating expenses rose to $2,805 million, primarily due to increased medical and administrative costs. Strategically, Alignment focuses on a consumer-centric model utilizing its proprietary AVA technology platform to enhance healthcare outcomes and member satisfaction. The company aims to expand into new markets, leveraging its growth potential in the Medicare Advantage sector, which is projected to increase from 54% to 64% penetration by 2033. Risks include regulatory changes affecting Medicare funding, competition from larger insurers, and potential cybersecurity threats. Financially, Alignment's condition remains stable with $434 million in cash at year-end, bolstered by a recent $330 million convertible note issuance to refinance existing debt. The outlook remains positive, emphasizing technology investments and member experience enhancements to drive future growth.