Alignment Healthcare Reports Third Quarter 2024 Results

GlobeNewswire04:01

Reports $692.4 million in total revenue, up 51.6% year-over-year Increases Medicare Advantage membership, up 57.7% year-over-year to approximately 182,300 members, beating third-quarter and year-end ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlignment Healthcare Reports Third Quarter 2024 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-30 04:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/alignment-healthcare-reports-third-quarter-200100977.html><strong>GlobeNewswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Reports $692.4 million in total revenue, up 51.6% year-over-year \nIncreases Medicare Advantage membership, up 57.7% year-over-year to approximately 182,300 members, beating third-quarter and year-end ...</p>\n\n<a href=\"https://finance.yahoo.com/news/alignment-healthcare-reports-third-quarter-200100977.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4137","symbol_name":"综合支持服务","start_time":0,"source_url":"https://finance.yahoo.com/news/alignment-healthcare-reports-third-quarter-200100977.html","article_id":"2479545972","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/j2RlNbw00Is39UjtVH_LKQ--~B/aD0zNTQ7dz0zNTA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/globenewswire.com/6112b4cc8a158a311cb04dfdf6a6b46d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479545972","pubTimestamp":1730232060,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Reports $692.4 million in total revenue, up 51.6% year-over-year. Increases Medicare Advantage membership, up 57.7% year-over-year to approximately 182,300 members, beating third-quarter and year-end expectations. One of seven Medicare Advantage Prescription Drug contracts nationally to earn 5- out of 5 stars from the Centers for Medicare & Medicaid Services , with 98% of company’s Medicare Advantage members in plans rated 4-stars or higher for 2025. Raises year-end health plan membership and revenue guidance, narrows full-year adjusted gross profit and adjusted EBITDA guidance. Health plan membership at the end of the quarter was approximately 182,300, up 57.7% year over year","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4137":"综合支持服务","LU2346227817.USD":"BGF SUSTAINABLE GLOBAL INFRASTRUCTURE \"A2\" (USD) ACC","BK4539":"次新股","BK4588":"碎股","BK4154":"管理型保健护理","HCSG":"医疗保健服务","BK4208":"复合型公用事业","LU2637428348.USD":"NORDEA 1 GLOBAL SUSTAINABLE LISTED REAL ASSETS \"MP\" (USD) INC","CMS":"CMS能源","ALHC":"Alignment Healthcare, Inc.","BK4585":"ETF&股票定投概念"},"translate_title":"Alignment Healthcare报告2024年第三季度业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ALHC":1,"CMS":1,"HCSG":1},"content_text":"Reports $692.4 million in total revenue, up 51.6% year-over-year \nIncreases Medicare Advantage membership, up 57.7% year-over-year to approximately 182,300 members, beating third-quarter and year-end expectations\nOne of seven Medicare Advantage Prescription Drug contracts nationally to earn 5- out of 5 stars from the Centers for Medicare & Medicaid Services (CMS), with 98% of company’s Medicare Advantage members in plans rated 4-stars or higher for 2025\nRaises year-end health plan membership and revenue guidance, narrows full-year adjusted gross profit and adjusted EBITDA guidance\n\nORANGE, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Alignment Healthcare, Inc. (NASDAQ: ALHC), today reported financial results for its third quarter ended Sept. 30, 2024.\n“Alignment Healthcare’s excellent third-quarter results set us apart in Medicare Advantage, proving that we can do well by doing good,” said John Kao, founder and CEO. “A cornerstone of our success is the virtuous cycle of delivering high-quality care while effectively managing costs. This philosophy has resulted in the stars, growth and profitability outcomes we achieved in the third quarter. As CMS continues to focus on the Triple Aim, we are confident we have the right platform to provide the best care at the lowest cost to drive long-term value for both our members and our shareholders. Alignment is Medicare Advantage done right.”\nThird Quarter 2024 Financial HighlightsAll comparisons, unless otherwise noted, are to the three months ended Sept. 30, 2023\n\nHealth plan membership at the end of the quarter was approximately 182,300, up 57.7% year over year\nTotal revenue was $692.4 million, up 51.6% year over year. Revenue excluding ACO REACH was $692.2 million, up 62.4% year over year\nAdjusted gross profit was $80.5 million and loss from operations was $(19.5) million \n  \nAdjusted gross profit excludes depreciation and amortization of $7.6 million and selling, general, and administrative expenses of $90.9 million (which includes $15.8 million of equity-based compensation). Adjusted gross profit also excludes an additional $1.5 million of equity-based compensation recorded within medical expenses\nMedical benefits ratio based on adjusted gross profit was 88.4%.\n \nAdjusted EBITDA was $5.9 million and net loss was $(26.4) million\n\nAdjusted Gross Profit is reconciled as follows:\n\n\n\n \nThree Months Ended September 30,\n \nNine Months Ended September 30,\n\n\n \n2024\n \n2023\n \n2024\n \n2023\n\n\n(dollars in thousands)\n \n \n \n \n \n \n \n\n\nLoss from operations\n$\n(19,522\n)\n \n$\n(29,756\n)\n \n$\n(79,010\n)\n \n$\n(85,904\n)\n\n\nAdd back:\n \n \n \n \n \n \n \n\n\nEquity-based compensation (medical expenses)\n \n1,489\n \n \n \n1,733\n \n \n \n3,384\n \n \n \n6,024\n \n\n\nDepreciation (medical expenses)\n \n46\n \n \n \n64\n \n \n \n144\n \n \n \n194\n \n\n\nRestructuring costs (medical expenses)(1)\n \n—\n \n \n \n—\n \n \n \n796\n \n \n \n—\n \n\n\nDepreciation and amortization(2)\n \n7,640\n \n \n \n5,497\n \n \n \n20,110\n \n \n \n15,613\n \n\n\nSelling, general, and administrative expenses\n \n90,871\n \n \n \n83,089\n \n \n \n269,246\n \n \n \n223,696\n \n\n\nTotal add back\n \n100,046\n \n \n \n90,383\n \n \n \n293,680\n \n \n \n245,527\n \n\n\nAdjusted gross profit\n$\n80,524\n \n \n$\n60,627\n \n \n$\n214,670\n \n \n$\n159,623\n \n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n(1) Represents severance and related costs incurred as part of a corporate restructuring designed to streamline our organizational structure and drive operational efficiencies.\n(2) Includes $0.6 million in impairment expense related to intangible assets that were written off during the quarter.\nAdjusted EBITDA is reconciled as follows:\n\n\n\n \nThree Months Ended September 30,\n \nNine Months Ended September 30,\n\n\n \n2024\n \n2023\n \n2024\n \n2023\n\n\n(dollars in thousands)\n \n \n \n \n \n \n \n\n\nNet loss\n$\n(26,429\n)\n \n$\n(35,077\n)\n \n$\n(97,007\n)\n \n$\n(100,942\n)\n\n\nLess: Net loss attributable to noncontrolling interest\n \n16\n \n \n \n30\n \n \n \n63\n \n \n \n134\n \n\n\nAdjustments:\n \n \n \n \n \n \n \n\n\nInterest expense\n \n6,937\n \n \n \n5,466\n \n \n \n18,055\n \n \n \n15,747\n \n\n\nDepreciation and amortization(1)\n \n7,686\n \n \n \n5,561\n \n \n \n20,254\n \n \n \n15,807\n \n\n\nIncome taxes\n \n(8\n)\n \n \n—\n \n \n \n14\n \n \n \n2\n \n\n\nEquity-based compensation(2)\n \n17,258\n \n \n \n13,569\n \n \n \n54,896\n \n \n \n51,183\n \n\n\nAcquisition expenses(3)\n \n14\n \n \n \n81\n \n \n \n26\n \n \n \n761\n \n\n\nLitigation costs(4)\n \n456\n \n \n \n1,950\n \n \n \n1,177\n \n \n \n1,950\n \n\n\n(Gain) loss on ROU assets(5)\n \n—\n \n \n \n—\n \n \n \n143\n \n \n \n(289\n)\n\n\nGain on sale of property and equipment\n \n(8\n)\n \n$\n—\n \n \n \n(8\n)\n \n \n—\n \n\n\nRestructuring costs(6)\n \n—\n \n \n \n—\n \n \n \n2,363\n \n \n \n—\n \n\n\nAdjusted EBITDA\n$\n5,922\n \n \n$\n(8,420\n)\n \n$\n(24\n)\n \n$\n(15,647\n)\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n(1) Includes $0.6 million in impairment expense related to intangible assets that were written off during the quarter.\n(2) Represents equity-based compensation related to grants made in the applicable year, as well as equity-based compensation related to the timing of the IPO, which includes previously issued stock appreciation rights (\"SARs\") liability awards, modifications related to transaction vesting units, and grants made in conjunction with the IPO.\n(3) Represents acquisition-related fees, such as legal and advisory fees, that are non-capitalizable.\n(4) Represents litigation costs considered outside of the ordinary course of business based on the following considerations which we assess regularly: (i) the frequency of similar cases that have been brought to date, or are expected to be brought within two years, (ii) complexity of the case, (iii) nature of the remedies sought, (iv) litigation posture of the Company, (v) counterparty involved, and (vi) the Company's overall litigation strategy.\n(5) Represents gains or losses related to ROU assets that were terminated or subleased in the respective period.\n(6) Represents severance and related costs incurred as part of a corporate restructuring designed to streamline our organizational structure and drive operational efficiencies.\nOutlook for Fourth Quarter and Fiscal Year 2024\n\n\n\n \nThree Months EndingDecember 31, 2024\nTwelve Months EndingDecember 31, 2024\n\n\n$ Millions\nLow\nHigh\nLow\nHigh\n\n\nHealth Plan Membership\n184,000\n186,000\n184,000\n186,000\n\n\nRevenue\n663\n678\n2,665\n2,680\n\n\nAdjusted Gross Profit(1)\n67\n82\n282\n297\n\n\nAdjusted EBITDA(2)\n(10)\n5\n(10)\n5\n\n\n\n_______________________\n\nAdjusted gross profit is a non-GAAP financial measure that is presented as supplemental disclosure, that we define as loss from operations before depreciation and amortization, clinical equity-based compensation expense, clinical restructuring costs and selling, general, and administrative expenses. We cannot reconcile our estimated ranges for adjusted gross profit to loss from operations, the most directly comparable GAAP measure, and cannot provide estimated ranges for loss from operations, without unreasonable efforts because of the uncertainty around certain items that may impact loss from operations, including equity-based compensation expense and depreciation and amortization, that are not within our control or cannot be reasonably predicted.\nAdjusted EBITDA is a non-GAAP financial measure that is presented as supplemental disclosure, that we define as net loss before interest expense, income taxes, depreciation and amortization expense, acquisition expenses, certain litigation costs, gains or losses on right of use (\"ROU\") assets, gains or losses on sale of property and equipment, restructuring costs and equity-based compensation expense. We cannot reconcile our estimated ranges for Adjusted EBITDA to net loss, the most directly comparable GAAP measure, and cannot provide estimated ranges for net loss, without unreasonable efforts because of the uncertainty around certain items that may impact net loss, including equity-based compensation expense and depreciation and amortization, that are not within our control or cannot be reasonably predicted.\n\nConference Call DetailsThe company will host a conference call at 5 p.m. EDT today to discuss these results and management’s outlook for future financial and operational performance. A live audio webcast will be available online at https://ir.alignmenthealth.com/. At the start of the conference call, participants may access the webcast at the following link: https://edge.media-server.com/mmc/p/dh2kdfjr. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web links, and will remain available for approximately 12 months.\nAbout Alignment HealthAlignment Health is championing a new path in senior care that empowers members to age well and live their most vibrant lives. A consumer brand name of Alignment Healthcare (NASDAQ: ALHC), Alignment Health’s mission-focused team makes high-quality, low-cost care a reality for its Medicare Advantage members every day. Based in California, the company partners with nationally recognized and trusted local providers to deliver coordinated care, powered by its customized care model, 24/7 concierge care team and purpose-built technology, AVAⓇ. As it expands its offerings and grows its national footprint, Alignment upholds its core values of leading with a serving heart and putting the senior first. For more information, visit www.alignmenthealth.com.\nForward-Looking StatementsThis release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include statements regarding our future growth and our financial outlook for the quarter and year ending December 31, 2024. Forward-looking statements are subject to risks and uncertainties and are based on assumptions that may prove to be inaccurate, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to attract new members and enter new markets, including the need for certain governmental approvals; our ability to maintain a high rating for our plans on the Five Star Quality Rating System; our ability to develop and maintain satisfactory relationships with care providers that service our members; risks associated with being a government contractor; changes in laws and regulations applicable to our business model; risks related to our indebtedness, including the potential for rising interest rates; changes in market or industry conditions and receptivity to our technology and services; results of litigation or a security incident; and the impact of shortages of qualified personnel and related increases in our labor costs. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our Annual Report on Form 10-K for the year ended December 31, 2023, and the other periodic reports we file with the SEC. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update or revise this information unless required by law.\n\n\n\n \n\n\nCondensed Consolidated Balance Sheets(in thousands, except par value and share amounts)(Unaudited)\n\n\n \n \n \n \n\n\n \nSeptember 30,2024\n \nDecember 31,2023\n\n\nAssets\n \n \n \n\n\nCurrent Assets:\n \n \n \n\n\nCash and cash equivalents\n$\n340,300\n \n \n$\n202,904\n \n\n\nAccounts receivable (less allowance for credit losses of $123 at September 30, 2024 and $0 at December 31, 2023)\n \n138,852\n \n \n \n119,749\n \n\n\nInvestments - current\n \n40,676\n \n \n \n115,914\n \n\n\nPrepaid expenses and other current assets\n \n53,779\n \n \n \n44,970\n \n\n\nTotal current assets\n \n573,607\n \n \n \n483,537\n \n\n\nProperty and equipment, net\n \n64,692\n \n \n \n51,901\n \n\n\nRight of use asset, net\n \n8,124\n \n \n \n9,959\n \n\n\nGoodwill\n \n34,826\n \n \n \n34,826\n \n\n\nIntangible Assets, net\n \n4,550\n \n \n \n5,252\n \n\n\nOther assets\n \n6,488\n \n \n \n6,405\n \n\n\nTotal assets\n$\n692,287\n \n \n$\n591,880\n \n\n\nLiabilities and Stockholders' Equity\n \n \n \n\n\nCurrent Liabilities:\n \n \n \n\n\nMedical expenses payable\n$\n297,125\n \n \n$\n205,399\n \n\n\nAccounts payable and accrued expenses\n \n25,394\n \n \n \n23,511\n \n\n\nAccrued compensation\n \n33,951\n \n \n \n34,112\n \n\n\nCurrent maturities of long-term debt\n \n1,613\n \n \n \n—\n \n\n\nTotal current liabilities\n \n358,083\n \n \n \n263,022\n \n\n\nLong-term debt, net of current maturities and debt issuance costs\n \n210,386\n \n \n \n161,813\n \n\n\nLong-term portion of lease liabilities\n \n8,191\n \n \n \n8,974\n \n\n\nTotal liabilities\n \n576,660\n \n \n \n433,809\n \n\n\nStockholders' Equity:\n \n \n \n\n\nPreferred stock, $.001 par value; 100,000,000 shares authorized as of September 30, 2024 and December 31, 2023, respectively; no shares issued and outstanding as of September 30, 2024 and December 31, 2023\n \n—\n \n \n \n—\n \n\n\nCommon stock, $.001 par value; 1,000,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 191,595,786 and 188,951,643 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively\n \n191\n \n \n \n189\n \n\n\nAdditional paid-in capital\n \n1,091,561\n \n \n \n1,037,015\n \n\n\nAccumulated deficit\n \n(977,202\n)\n \n \n(880,258\n)\n\n\nTotal Alignment Healthcare, Inc. stockholders' equity\n \n114,550\n \n \n \n156,946\n \n\n\nNoncontrolling interest\n \n1,077\n \n \n \n1,125\n \n\n\nTotal stockholders' equity\n \n115,627\n \n \n \n158,071\n \n\n\nTotal liabilities and stockholders' equity\n$\n692,287\n \n \n$\n591,880\n \n\n\n \n \n \n \n \n \n \n \n\n\n\n\n\n\n \n\n\nCondensed Consolidated Statements of Operations(in thousands, except per share amounts)(Unaudited)\n\n\n \n \n \n \n\n\n \nThree Months Ended September 30,\n \nNine Months Ended September 30,\n\n\n \n2024\n \n2023\n \n2024\n \n2023\n\n\nRevenues:\n \n \n \n \n \n \n \n\n\nEarned premiums\n$\n684,496\n \n \n$\n450,235\n \n \n$\n1,980,146\n \n \n$\n1,341,924\n \n\n\nOther\n \n7,937\n \n \n \n6,474\n \n \n \n22,174\n \n \n \n16,319\n \n\n\nTotal revenues\n \n692,433\n \n \n \n456,709\n \n \n \n2,002,320\n \n \n \n1,358,243\n \n\n\nExpenses:\n \n \n \n \n \n \n \n\n\nMedical expenses\n \n613,444\n \n \n \n397,879\n \n \n \n1,791,974\n \n \n \n1,204,838\n \n\n\nSelling, general, and administrative expenses\n \n90,871\n \n \n \n83,089\n \n \n \n269,246\n \n \n \n223,696\n \n\n\nDepreciation and amortization\n \n7,640\n \n \n \n5,497\n \n \n \n20,110\n \n \n \n15,613\n \n\n\nTotal expenses\n \n711,955\n \n \n \n486,465\n \n \n \n2,081,330\n \n \n \n1,444,147\n \n\n\nLoss from operations\n \n(19,522\n)\n \n \n(29,756\n)\n \n \n(79,010\n)\n \n \n(85,904\n)\n\n\nOther expenses:\n \n \n \n \n \n \n \n\n\nInterest expense\n \n6,937\n \n \n \n5,466\n \n \n \n18,055\n \n \n \n15,747\n \n\n\nOther income, net\n \n(22\n)\n \n \n(145\n)\n \n \n(72\n)\n \n \n(711\n)\n\n\nTotal other expenses\n \n6,915\n \n \n \n5,321\n \n \n \n17,983\n \n \n \n15,036\n \n\n\nLoss before income taxes\n \n(26,437\n)\n \n \n(35,077\n)\n \n \n(96,993\n)\n \n \n(100,940\n)\n\n\nProvision (benefit) for income taxes\n \n(8\n)\n \n \n—\n \n \n \n14\n \n \n \n2\n \n\n\nNet loss\n$\n(26,429\n)\n \n$\n(35,077\n)\n \n$\n(97,007\n)\n \n$\n(100,942\n)\n\n\nLess: Net loss attributable to noncontrolling interest\n \n16\n \n \n \n30\n \n \n \n63\n \n \n \n134\n \n\n\nNet loss attributable to Alignment Healthcare, Inc.\n$\n(26,413\n)\n \n$\n(35,047\n)\n \n$\n(96,944\n)\n \n$\n(100,808\n)\n\n\nTotal weighted-average common shares outstanding - basic and diluted\n \n191,361,283\n \n \n \n187,328,318\n \n \n \n190,423,014\n \n \n \n185,493,345\n \n\n\nNet loss per share - basic and diluted\n$\n(0.14\n)\n \n$\n(0.19\n)\n \n$\n(0.51\n)\n \n$\n(0.54\n)\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n\n\n\n \n\n\nCondensed Consolidated Statements of Cash Flows(in thousands)(Unaudited)\n\n\n \n \n\n\n \nNine Months Ended September 30,\n\n\n \n2024\n \n2023\n\n\nOperating Activities:\n \n \n \n\n\nNet loss\n$\n(97,007\n)\n \n$\n(100,942\n)\n\n\nAdjustments to reconcile net loss to net cash provided by operating activities:\n \n \n \n\n\nProvision for credit loss\n \n123\n \n \n \n91\n \n\n\nLoss (gain) on right of use assets\n \n135\n \n \n \n(289\n)\n\n\nGain on sale of property and equipment\n \n(8\n)\n \n \n—\n \n\n\nDepreciation and amortization\n \n20,254\n \n \n \n15,807\n \n\n\nAmortization-investment discount\n \n(2,084\n)\n \n \n(3,349\n)\n\n\nAmortization-debt issuance costs\n \n978\n \n \n \n1,037\n \n\n\nEquity-based compensation\n \n54,896\n \n \n \n51,183\n \n\n\nNon-cash lease expense\n \n1,360\n \n \n \n1,653\n \n\n\nChanges in operating assets and liabilities:\n \n \n \n\n\nAccounts receivable\n \n(19,226\n)\n \n \n(12,724\n)\n\n\nPrepaid expenses and other current assets\n \n(8,809\n)\n \n \n(3,771\n)\n\n\nOther assets\n \n77\n \n \n \n(119\n)\n\n\nMedical expenses payable\n \n91,726\n \n \n \n33,299\n \n\n\nAccounts payable and accrued expenses\n \n2,835\n \n \n \n(4,613\n)\n\n\nDeferred premium revenue\n \n(116\n)\n \n \n146,034\n \n\n\nAccrued compensation\n \n(161\n)\n \n \n7,604\n \n\n\nLease liabilities\n \n(1,492\n)\n \n \n(2,622\n)\n\n\nNet cash provided by operating activities\n \n43,481\n \n \n \n128,279\n \n\n\nInvesting Activities:\n \n \n \n\n\nPurchase of investments\n \n(75,524\n)\n \n \n(281,582\n)\n\n\nSale of property and equipment\n \n14\n \n \n \n—\n \n\n\nMaturities of investments\n \n152,755\n \n \n \n160,735\n \n\n\nAcquisition of property and equipment\n \n(32,134\n)\n \n \n(25,398\n)\n\n\nNet cash provided by (used in) investing activities\n \n45,111\n \n \n \n(146,245\n)\n\n\nFinancing Activities:\n \n \n \n\n\nProceeds from long-term debt\n \n50,000\n \n \n \n—\n \n\n\nDebt issuance costs\n \n(512\n)\n \n \n—\n \n\n\nPayment of employment taxes related to release of restricted stock\n \n(350\n)\n \n \n—\n \n\n\nContributions from noncontrolling interest holders\n \n15\n \n \n \n60\n \n\n\nNet cash provided by financing activities\n \n49,153\n \n \n \n60\n \n\n\nNet increase (decrease) in cash\n \n137,745\n \n \n \n(17,906\n)\n\n\nCash, cash equivalents and restricted cash at beginning of period\n \n204,954\n \n \n \n411,299\n \n\n\nCash, cash equivalents and restricted cash at end of period\n$\n342,699\n \n \n$\n393,393\n \n\n\nSupplemental disclosure of cash flow information:\n \n \n \n\n\nCash paid for interest\n$\n15,602\n \n \n$\n13,943\n \n\n\nSupplemental non-cash investing and financing activities:\n \n \n \n\n\nAcquisition of property in accounts payable\n$\n112\n \n \n$\n117\n \n\n\n \n \n \n \n \n \n \n \n\n\n\nThe following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the total above:\n\n\n\n \nSeptember 30, 2024\n \nSeptember 30, 2023\n\n\nCash and cash equivalents\n$\n340,300\n \n \n$\n391,643\n \n\n\nRestricted cash in other assets\n \n2,399\n \n \n \n1,750\n \n\n\nTotal\n$\n342,699\n \n \n$\n393,393\n \n\n\n \n \n \n \n \n \n \n \n\n\n\nNon-GAAP Financial MeasuresCertain of these financial measures are considered “non-GAAP” financial measures within the meaning of Item 10 of Regulation S-K promulgated by the SEC. We believe that non-GAAP financial measures provide an additional way of viewing aspects of our operations that, when viewed with the GAAP results, provide a more complete understanding of our results of operations and the factors and trends affecting our business. These non-GAAP financial measures are also used by our management to evaluate financial results and to plan and forecast future periods. However, non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Non-GAAP financial measures used by us may differ from the non-GAAP measures used by other companies, including our competitors. To supplement our consolidated financial statements presented on a GAAP basis, we disclose the following non-GAAP measures: Medical Benefits Ratio, Adjusted EBITDA and Adjusted Gross Profit as these are performance measures that our management uses to assess our operating performance. Because these measures facilitate internal comparisons of our historical operating performance on a more consistent basis, we use these measures for business planning purposes and in evaluating acquisition opportunities.\nAdjusted EBITDAAdjusted EBITDA is a non-GAAP financial measure that we define as net loss before interest expense, income taxes, depreciation and amortization expense, acquisition expenses, certain litigation costs, gains or losses on right of use (\"ROU\") assets, gains or losses on sale of property and equipment, restructuring costs and equity-based compensation expense.\nAdjusted EBITDA should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. There are a number of limitations related to the use of Adjusted EBITDA in lieu of net loss, which is the most directly comparable financial measure calculated in accordance with GAAP.\nOur use of the term Adjusted EBITDA may vary from the use of similar terms by other companies in our industry and accordingly may not be comparable to similarly titled measures used by other companies.\nMedical Benefits Ratio (MBR) We calculate our MBR by dividing total medical expenses, excluding depreciation, equity-based compensation and clinical restructuring costs, by total revenues in a given period.\nAdjusted Gross Profit Adjusted gross profit is a non-GAAP financial measure that we define as loss from operations before depreciation and amortization, clinical equity-based compensation expense, clinical restructuring costs and selling, general, and administrative expenses.\nAdjusted gross profit should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. There are a number of limitations related to the use of adjusted gross profit in lieu of loss from operations, which is the most directly comparable financial measure calculated in accordance with GAAP.\nOur use of the term adjusted gross profit may vary from the use of similar terms by other companies in our industry and accordingly may not be comparable to similarly titled measures used by other companies.\nInvestor Contact Harrison Zhuohzhuo@ahcusa.com\nMedia Contact Priya ShahmPR, Inc. for Alignment Healthalignment@mpublicrelations.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2479545972"}