Filing Flows › Alignment Healthcare (ALHC) › Q3 2025
Alignment Healthcare (ALHC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Alignment Healthcare (ALHC) reported revenue of $994M for the third quarter 2025 (Q3 2025), +44% from a year earlier and -2% from the quarter before. Operating margin was 0.8%, net earnings $3.7M (0.4% of revenue).
Alignment Healthcare, Q3 2025: revenue $994M (+44% year over year), operating margin 0.8%, net earnings $3.7M, operating cash flow $145M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $994M | -2% | +44% |
| Operating profit | $7.7M | -66% | — |
| Net earnings | $3.7M | -76% | — |
| Operating cash flow | $145M | +396% | +452% |
| Free cash flow | $139M | +558% | +722% |
What changed
Revenue was $993.7M in Q3 2025, up 44% year over year and down 2% from the previous quarter.
Operating profit was $7.7M, a 0.8% margin (up 3.6 points year over year). Total costs grew 38% against revenue growth of 44%. The fastest-growing cost line was Other operating costs (+41%). Net earnings were $3.7M. The effective tax rate was 0.1%.
Operating cash flow was $144.6M (up 452% year over year), 3877% of net earnings. Non-cash charges added back $8.0M of depreciation and amortization and $16.2M of share-based compensation. Working capital and other items added $116.6M. Capital expenditures of $5.5M left free cash flow of $139.1M.
Questions
What was Alignment Healthcare's revenue in the third quarter 2025?
Alignment Healthcare (ALHC) reported revenue of $994M for the third quarter 2025 (Q3 2025), +44% from a year earlier and -2% from the quarter before.
Was Alignment Healthcare profitable in the third quarter 2025?
Operating profit was $7.7M (0.8% of revenue) and net earnings $3.7M.