Alignment Healthcare LLC (ALHC) financial statements
Alignment Healthcare LLC reported revenue of $3.9B in fiscal 2025, up 31.7% a year over 6 years.
Net income was -$724,000 and the operating margin 0.4%, against -3.9% in 2019.
Free cash flow was $113M.
The diluted share count rose 9% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Alignment Healthcare LLC's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $757M | $959M | $1.2B | $1.4B | $1.8B | $2.7B | $3.9B |
| Selling, general and admin | $110M | $156M | $291M | $296M | $307M | $371M | $443M |
| Operating income | -$29M | -$5M | -$178M | -$129M | -$128M | -$102M | $15M |
| Interest expense | $15M | $17M | $17M | $18M | $21M | $24M | $16M |
| Pre-tax income | -$45M | -$23M | -$195M | -$149M | -$148M | -$128M | -$958,000 |
| Income tax | $0 | $0 | $0 | $339,000 | -$22,000 | $21,000 | $20,000 |
| Net income | -$45M | -$23M | -$195M | -$150M | -$148M | -$128M | -$724,000 |
| EPS (diluted) | -$0.33 | -$0.15 | -$1.14 | -$0.83 | -$0.79 | -$0.67 | $0.00 |
| Diluted shares | 0M | 0M | 182M | 181M | 186M | 191M | 198M |
| Operating margin | -3.9% | -0.5% | -15.2% | -9.0% | -7.0% | -3.8% | 0.4% |
| Net margin | -5.9% | -2.4% | -16.7% | -10.4% | -8.1% | -4.7% | -0.0% |
Balance sheet
Fiscal years, from Alignment Healthcare LLC's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $86M | $207M | $467M | $410M | $319M | $471M | $604M |
| Receivables | — | $40M | $59M | $93M | $120M | $154M | $253M |
| Total current assets | — | $265M | $553M | $545M | $484M | $662M | $952M |
| Property, plant and equipment | — | $27M | $30M | $37M | $52M | $67M | $64M |
| Goodwill | — | $29M | $29M | $35M | $35M | $35M | $32M |
| Total assets | — | $339M | $631M | $634M | $592M | $782M | $1.1B |
| Total current liabilities | — | $153M | $167M | $230M | $263M | $352M | $557M |
| Long-term debt | — | $144M | $151M | $161M | $162M | $321M | $323M |
| Total liabilities | — | $308M | $325M | $395M | $434M | $681M | $887M |
| Shareholders' equity | -$79M | $31M | $306M | $238M | $157M | $100M | $179M |
| Net debt | -$86M | -$63M | -$316M | -$249M | -$41M | -$111M | -$253M |
Cash flow
Fiscal years, from Alignment Healthcare LLC's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $9M | $8M | -$79M | -$45M | -$59M | $35M | $140M |
| Capital spending | — | — | — | $24M | $36M | $41M | $27M |
| Free cash flow | — | — | — | -$69M | -$95M | -$7M | $113M |
| Stock-based compensation | $0 | $446,000 | $621,000 | $82M | $67M | $71M | $62M |
| Net borrowing | $55M | $0 | $0 | $22M | $0 | $165M | $0 |
| Free cash flow margin | — | — | — | -4.8% | -5.2% | -0.2% | 2.9% |
Questions
What was Alignment Healthcare LLC's revenue in 2025?
$3.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does Alignment Healthcare LLC generate?
$113M in fiscal 2025 (operating cash flow minus capital spending).
From Alignment Healthcare LLC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.