Alignment Healthcare reported second-quarter 2026 membership growth of 31.5% to about 294,100 and revenue growth of 31.6% to $1.34 billion, while raising its full-year outlook to 298,000–301,000 members and revenues of $5.20–$5.23 billion. Adjusted gross profit rose 35.3% to $182.9 million, the adjusted medical benefit ratio improved 40 basis points to 86.3%, and adjusted EBITDA climbed 48.4% to $68.1 million. Despite the operating momentum, the stock trades at a forward price-to-earnings ratio of 68.4 and an enterprise value-to-EBITDA ratio of 53.0, and management guided for third-quarter adjusted EBITDA of only $20–$30 million due to higher-acuity new members and seasonal spending. With a $14 price target only modestly above the recent $13.68 close, Zacks Investment Research rates the stock a Hold, citing limited near-term upside and second-half execution risk.
Alignment Healthcare LLCMembership and revenue growth of 31.5% and 31.6% indicate strong demand for its Medicare Advantage plans.
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