The guidance reduction for adjusted gross profit and adjusted EBITDA signals margin pressure from elevated medical costs. Monitor Q4 2026 results for medical benefits ratio trajectory and any further guidance revisions.
Price Chart
Executive Summary
Alignment Healthcare reported Q3 2026 revenue of $1.36B, up 36.7% YoY and above the $1.31B consensus, but GAAP EPS of -$0.04 missed the $0.04 consensus. Adjusted EBITDA fell 32.8% YoY to $21.8M, and the company lowered full-year 2026 adjusted gross profit and adjusted EBITDA guidance due to higher medical costs.
Key Financial Metrics
Key Facts
- Q3 2026 total revenue $1,358.3M, up 36.7% YoY, above $1.31B consensus
- GAAP diluted EPS -$0.04 vs consensus $0.04 (miss)
- Adjusted EBITDA $21.8M, down 32.8% YoY; adjusted EBITDA margin 1.6%
- Medical benefits ratio 89.5%, up ~240 bps YoY
- Full-year 2026 adjusted gross profit guidance lowered to $575M (from prior); adjusted EBITDA guidance lowered to $100M
- Q4 2026 guidance: revenue $1,316M, adjusted gross profit $104M, adjusted EBITDA -$28M
- Health plan membership 301,200, up 31.2% YoY; full-year membership guidance raised to 305,000
- Net loss $8.1M vs net income $3.7M in Q3 2025
Financial Impact
EPS miss of $0.08 vs consensus; adjusted EBITDA guidance cut by undisclosed amount; revenue beat by ~$48M
Risk Factors
- Higher medical costs from appeals, disputes, catastrophic cases and skilled nursing categories
- Full-year adjusted EBITDA guidance lowered; Q4 2026 adjusted EBITDA guided to -$28M
- Net loss in Q3 vs net income in prior year quarter
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3391799 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | No price | awaiting T+1 | awaiting T+1 | No price |
Oct 29, 2026 3d ago | Press Release | $7.20 | awaiting T+1 | awaiting T+1 | $7.27 (−0.90%) |
Oct 20, 2026 12d ago | Institutional Cluster | $8.44 $8.43 | ▼ −0.12% | ▲ +1.06% | $7.27 (−13.86%) |
Oct 19, 2026 13d ago | Press Release | $8.40 $8.51 | ▲ +1.31% | ▲ +0.97% | $7.27 (−13.45%) |
Oct 8, 2026 24d ago | 8-K | $7.55 $8.09 | ▼ −7.22% | ▼ −7.28% | $7.27 (+3.64%) |
Oct 5, 2026 27d ago | SC 13G/A | $8.50 $8.37 | ▼ −1.53% | ▼ −2.08% | $7.27 (−14.47%) |
Sep 18, 2026 6w ago | Insider Cluster | $8.33 $7.99 | ▲ +4.08% | ▲ +4.07% | $7.27 (+12.73%) |
Sep 16, 2026 6w ago | Insider Cluster | $8.70 $8.35 | ▲ +4.02% | ▲ +3.90% | $7.27 (+16.44%) |
Sep 16, 2026 6w ago | 144 | $8.70 $8.35 | ▼ −4.02% | ▼ −3.90% | $7.27 (−16.44%) |
Sep 11, 2026 7w ago | Insider Cluster | $12.94 $10.37 | ▲ +19.86% | ▲ +19.40% | $7.27 (+43.82%) |
US Market Status
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