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Dec 31, 2024
Alignment Healthcare Q4 2024 Earnings Report
Alignment Healthcare reported its fourth quarter and full-year 2024 financial results, exceeding expectations for health plan membership and achieving its first full year of positive adjusted EBITDA as a public company.
Key Takeaways
Alignment Healthcare, Inc. announced strong fourth quarter and full-year 2024 results, with health plan membership significantly increasing by 58.6% year-over-year to 189,100. The company achieved its first full year of positive adjusted EBITDA as a public company, driven by operating leverage and strong medical benefits ratio performance. Total revenue for Q4 2024 was $701.2 million, a 50.7% increase year-over-year.
Health plan membership reached approximately 189,100 as of December 31, 2024, marking a 58.6% year-over-year increase and surpassing year-end expectations.
The company achieved its first full year of positive adjusted EBITDA as a public company, demonstrating improved operating leverage and strong medical benefits ratio performance.
Total revenue for the fourth quarter of 2024 was $701.2 million, representing a 50.7% increase compared to the same period in the previous year.
Adjusted gross profit for Q4 2024 was $87.9 million, with an adjusted EBITDA of $1.4 million.
Revenue by Segment
Forward Guidance
Alignment Healthcare provided guidance for the first quarter and full fiscal year 2025, projecting continued growth in health plan membership, revenue, adjusted gross profit, and adjusted EBITDA.
Positive Outlook
- Health Plan Membership is projected to increase to between 211,000 and 215,000 for Q1 2025, and between 227,000 and 233,000 for FY 2025.
- Revenue is expected to be between $880 million and $895 million for Q1 2025.
- FY 2025 revenue is projected to be between $3.72 billion and $3.775 billion, representing 37.6%-39.6% growth year-over-year.
- Adjusted Gross Profit is forecasted to be between $89 million and $97 million for Q1 2025, and between $415 million and $445 million for FY 2025.
- Adjusted EBITDA is expected to be between $2 million and $10 million for Q1 2025, and between $35 million and $60 million for FY 2025.
Challenges Ahead
- The guidance for Adjusted Gross Profit and Adjusted EBITDA are non-GAAP measures and cannot be reconciled to GAAP measures without unreasonable efforts due to uncertainties.
- The company's ability to achieve guidance depends on various factors, including attracting new members and maintaining high Star Quality Rating System.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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