Alignment Healthcare, Inc. (NASDAQ: ALHC), today announced that its Alignment Health Plan membership has increased by 44% to a total of approximately 155,500 members as of Jan. 1, following a successful Annual Enrollment Period (AEP), as compared to its membership as of Jan. 1, 2023.
“Alignment’s purpose-built Medicare Advantage (MA) platform gives us the visibility and control to serve seniors the right way,” said John Kao, founder and CEO of Alignment Healthcare. “This visibility and control have helped us improve stars, effectively manage care and create competitively advantaged products that led to the exceptional growth we achieved. Companies that prioritize happy and healthy members can indeed do well by doing good, and Alignment is proof of that.”
Additionally, the company expects to have 162,000 to 164,000 members by the end of 2024, based on its expectations for continued membership growth during the year.
With its strong membership growth, the company is reaffirming its expectation to achieve adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) breakeven in 2024.
“Our conviction to be adjusted EBITDA breakeven in 2024 is strengthened by Alignment’s product strategy, expected positive gross profit contributions from new membership, continued operating leverage and ongoing cohort improvement,” said Kao. “Furthermore, we believe we will have continued competitive tailwinds that bolster our outlook for 2025.”
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