ORANGE, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Alignment Healthcare, Inc.
(NASDAQ: ALHC), today reported financial results for its third quarter ended Sept. 30, 2024. “Alignment Healthcare's excellent third-quarter results set us apart in Medicare Advantage, proving that we can do well by doing good,” said John Kao, founder and CEO.
“A cornerstone of our success is the virtuous cycle of delivering high-quality care while effectively managing costs. This philosophy has resulted in the stars, growth and profitability outcomes we achieved in the third quarter. As CMS continues to focus on the Triple Aim, we are confident we have the right platform to provide the best care at the lowest cost to drive long-term value for both our members and our shareholders.
Alignment is Medicare Advantage done right.” Third Quarter 2024 Financial Highlights All comparisons, unless otherwise noted, are to the three months ended Sept. 30, 2023 Adjusted Gross Profit is reconciled as follows: (1) Represents severance and related costs incurred as part of a corporate restructuring designed to streamline our organizational structure and drive operational efficiencies.
(2) Includes $0.6 million in impairment expense related to intangible assets that were written off during the quarter. Adjusted EBITDA is reconciled as follows: (1) Includes $0.
6 million in impairment expense related to intangible assets that were written off during the quarter. (2) Represents equity-based compensation related .
