Q3 2023 Alignment Healthcare Inc Earnings Call Transcript
Good day, and thank you for standing by. Welcome to Alignment Healthcare Third Quarter 2023 Earnings Conference Call. (Operator Instructions) After the speaker's presentation, there will be a question-and-answer session. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to John Kao, Founder and CEO. Please go ahead.
Hello, and thank you for joining us on our third quarter earnings conference call. We are pleased to deliver strong results through the third quarter as we exceeded our outlook expectations across each of our 4 key performance indicators. For the third quarter of 2023, our total revenue of $456.7 million represented approximately 27% growth year-over-year. We ended the quarter with health plan membership of 115,600 members, growing approximately 18% year-over-year. Adjusted gross profit was $60.6 million, producing a consolidated MBR of 86.7%, while our MBR, excluding ACO REACH was
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