Alignment Healthcare Inc (NAS:ALHC)
$ 10.72 0.01 (0.09%) Market Cap: 2.05 Bil Enterprise Value: 1.90 Bil PE Ratio: 0 PB Ratio: 17.93 GF Score: 59/100

Q1 2023 Alignment Healthcare Inc Earnings Call Transcript

May 04, 2023 / 09:30PM GMT
Release Date Price: $7 (+5.11%)
Operator

Good day, and thank you for standing by. Welcome to the Alignment Healthcare First Quarter 2023 Earnings Conference Call. (Operator Instructions) Please be advised today's conference is being recorded. I would now like to hand the conference over to your speaker today, CEO, John Kao. Please go ahead.

John E. Kao
Alignment Healthcare, Inc. - Founder, President, CEO & Director

Hello, and thank you for joining us on our first quarter earnings conference call. We are pleased to announce a strong start to the year, delivering consistent operating performance and beating all of our key performance indicators. For the first quarter 2023, our total revenue of $439.2 million represented 27% growth year-over-year. We ended the quarter with health plan membership of 109,700 members, growing 16.5% year-over-year.

Adjusted gross profit was $45.4 million, producing an MBR of 89.7%. Meanwhile, our adjusted EBITDA was negative $5.2 million. Our MBR and profitability outperformance resulted from significant efforts by our Care Anywhere team and continued

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