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Alignment Healthcare (ALHC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Alignment Healthcare (ALHC) Q3 2026 earnings results →
Q3 2026 Revenue up 37% year over year to $1.4B · 1¢ of every $1 of revenue lost · operating margin -0.3%
Alignment Healthcare made $1.4B in Q3 2026 (+37% Y/Y). Operating margin -0.3%, net loss $8.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.4B in Q3 2026, up 37% year over year and up 2% from the previous quarter.
Operating costs exceeded revenue by $3.8M, an operating margin of -0.3%. Total costs grew 38% against revenue growth of 37%. The fastest-growing cost line was Other operating costs (+40%). The quarter ended with a net loss of $0.01B, after a profit of $0.04B the previous quarter. Net interest and other expense of $4.3M was the main reason.
Operating cash flow was $0.05B (down 67% year over year). Non-cash charges added back $0.01B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.03B. Capital expenditures of $0.01B left free cash flow of $0.04B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $1.4B | +37% | -0.3% | −$8.1M | $47.0M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $1.3B | +32% | 3.2% | $36.6M | −$17.3M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $1.2B | +33% | 1.3% | $11.4M | $129M |
| Q4 2025 | 10-K | Feb 27, 2026 | $1.0B | +44% | -1.0% | −$11.0M | −$50.4M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $994M | +44% | 0.8% | $3.7M | $145M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $1.0B | +49% | 2.2% | $15.7M | $29.1M |
| Q1 2025 | 10-Q | May 1, 2025 | $927M | +48% | -0.6% | −$9.4M | $16.6M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Alignment Healthcare
Alignment Healthcare was founded in 2013 with one mission: improve healthcare, one senior at a time. We pursue this mission by focusing on our core values: We created Alignment after our own families faced frustrating experiences within the fragmented healthcare system. Without an advocate to create an integrated, high quality healthcare experience for them, our loved ones were left to navigate a care delivery and insurance landscape fraught with confusion and complexity. Seniors across the country are systemically and disproportionately impacted by the lack of care coordination, transparency and clear information. Furthermore, they are disadvantaged by misaligned incentives that dominate today’s healthcare system. As one of our most vulnerable populations, seniors across America need and deserve better.
In its own words, from its 10-K, filed Feb 27, 2026.
Alignment Healthcare against its Hospital & Medical Service Plans peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +37% against the peers' median +6%. Operating margin: -0.3% against the peers' median 1.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ALHC Alignment Healthcare | Q3 2026 | $1.4B | +37% | -0.3% |
| UNH UnitedHealth Group | Q3 2026 | $112.7B | -0.4% | 5.8% |
| CI Cigna | Q3 2026 | $73.7B | +6% | 3.3% |
| ELV Elevance Health | Q3 2026 | $51.4B | +1% | 2.5% |
| CNC Centene | Q3 2026 | $50.6B | +2% | -0.6% |
| HUM Humana | Q3 2026 | $41.2B | +26% | 0.2% |
| MOH Molina Healthcare | Q3 2026 | $11.1B | -3% | 1.0% |
| OSCR Oscar Health | Q3 2026 | $5.1B | +72% | 3.5% |
| CLOV Clover Health Investments | Q3 2026 | $759M | +53% | 0.8% |
Source: Alignment Healthcare 10-Q on SEC EDGAR · CIK 1832466 · Hospital & Medical Service Plans
13F: who owns ALHC and who is buying
More on ALHC
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results