Filing Flows › Alignment Healthcare (ALHC) › Q4 2025
Alignment Healthcare (ALHC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Alignment Healthcare (ALHC) reported revenue of $1.0B for the fourth quarter 2025 (Q4 2025), +44% from a year earlier and +2% from the quarter before. Operating margin was -1.0%, net loss $11.0M (1.1% of revenue).
Alignment Healthcare, Q4 2025: revenue $1.0B (+44% year over year), operating margin -1.0%, net loss $11.0M, operating cash flow −$50.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +2% | +44% |
| Operating profit | −$10.3M | -234% | — |
| Net earnings | −$11.0M | -395% | — |
| Operating cash flow | −$50.4M | -135% | — |
What changed
Revenue was $1.0B in Q4 2025, up 44% year over year and up 2% from the previous quarter.
Operating costs exceeded revenue by $0.01B, an operating margin of -1.0%. Total costs grew 41% against revenue growth of 44%. The fastest-growing cost line was Other operating costs (+44%). The quarter ended with a net loss of $0.01B, after a profit of $3.7M the previous quarter.
Operating cash flow was −$0.05B. Non-cash charges added back $0.01B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.06B. Capital expenditures of $0.01B exceeded it, leaving free cash flow of −$0.06B.
Questions
What was Alignment Healthcare's revenue in the fourth quarter 2025?
Alignment Healthcare (ALHC) reported revenue of $1.0B for the fourth quarter 2025 (Q4 2025), +44% from a year earlier and +2% from the quarter before.
Was Alignment Healthcare profitable in the fourth quarter 2025?
Operating loss was $10.3M (-1.0% of revenue) and net loss $11.0M.