Alignment Healthcare Inc.
John Kao, the founder and CEO of Alignment Healthcare, noted, "In today’s Medicare Advantage environment, Alignment Healthcare’s second quarter performance proves that strong financial results and high-quality care can go hand in hand – with the right model."
Following the announcement, the company’s stock price surged by 10.36% to $13 during regular trading hours on Wednesday. The stock surged 23.08% to $16 during premarket trading.
Alignment Healthcare beat expectations for the second quarter, delivering stronger-than-anticipated results across membership, revenue, profit, and earnings.
The company added more health plan members, bringing the total to about 223,700 — nearly 28% more than a year ago — and pulled in over $1 billion in revenue, up 49%.
It also posted a solid adjusted gross profit of $135.2 million and adjusted EBITDA of $45.9 million. With the strong performance, Alignment raised its full-year forecast across all these key areas.
This strong performance also follows the company’s recent decision to raise its full-year sales guidance from $3.77 billion-$3.81 billion to $3.8 billion-$3.91 billion, surpassing the $3.80 billion estimate.
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