Alignment Healthcare (ALHC) Operating Expenses (2020 - 2026)
Alignment Healthcare posted quarterly Operating Expenses of $1.2 billion for Q1 2026, up 30.82% year-on-year from $932.3 million in Q1 2025, and up 19.22% on a QoQ basis from $1.0 billion in Q4 2025.
Alignment Healthcare (ALHC) has 7 years of Operating Expenses data on file, last reported at $1.2 billion in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 30.82% year-over-year to $1.2 billion; the trailing twelve-month figure through Mar 2026 stood at $4.2 billion (up 37.6% YoY), and the FY2025 full-year result was $3.9 billion, up 40.24% from the prior year.
- Operating Expenses for Q1 2026 stood at $1.2 billion, up from $1.0 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $1.2 billion in Q1 2026 and bottomed at $373.1 million in Q2 2022.
- The 5-year median for Operating Expenses is $669.7 million (2024), against an average of $674.9 million.
- The widest annual swing landed in 2022, when Operating Expenses advanced 6.78%; it then surged 46.35% in 2024.
- A 5-year view of Operating Expenses shows it stood at $413.9 million in 2022, then gained by 22.56% to $507.3 million in 2023, then jumped by 42.67% to $723.8 million in 2024, then soared by 41.35% to $1.0 billion in 2025, then climbed by 19.22% to $1.2 billion in 2026.
- The last three Operating Expenses figures came in at $1.2 billion (Q1 2026), $1.0 billion (Q4 2025), and $986.0 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 345.31 Bn | 315.51 Bn | 98.90 Bn | 102.73 Bn |
| 2 | Cvs Health | 115.41 Bn | 103.79 Bn | 4.43 Bn | 95.75 Bn |
| 3 | Elevance Health | 88.60 Bn | 53.18 Bn | 13.88 Bn | 47.88 Bn |
| 4 | Cigna | 72.05 Bn | 64.43 Bn | -44.29 Bn | 66.14 Bn |
| 5 | Humana | 39.05 Bn | 17.15 Bn | 4.00 Bn | 37.89 Bn |
| 6 | Centene | 30.50 Bn | 6.84 Bn | 49.24 Bn | 48.08 Bn |
| 7 | Molina Healthcare | 9.31 Bn | 60.65 Mn | 1.53 Bn | 10.71 Bn |
| 8 | Oscar Health | 6.86 Bn | 63.05 Mn | -3.22 Bn | 3.94 Bn |
| 9 | Alignment Healthcare | 2.69 Bn | 1.96 Bn | 135.85 Mn | 1.22 Bn |
| 10 | Progyny | 2.12 Bn | 1.90 Bn | 83.07 Mn | 47.69 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.22 Bn |
| Dec 31, 2025 | 1.02 Bn |
| Sep 30, 2025 | 986.01 Mn |
| Jun 30, 2025 | 992.54 Mn |
| Mar 31, 2025 | 932.33 Mn |
| Dec 31, 2024 | 723.79 Mn |
| Sep 30, 2024 | 711.96 Mn |
| Jun 30, 2024 | 699.67 Mn |
| Mar 31, 2024 | 669.71 Mn |
| Dec 31, 2023 | 507.30 Mn |
| Sep 30, 2023 | 486.47 Mn |
| Jun 30, 2023 | 486.04 Mn |
| Mar 31, 2023 | 471.64 Mn |
| Dec 31, 2022 | 413.92 Mn |
| Sep 30, 2022 | 393.76 Mn |
| Jun 30, 2022 | 373.12 Mn |
| Mar 31, 2022 | 382.00 Mn |
| Dec 31, 2021 | 341.74 Mn |
| Sep 30, 2021 | 334.92 Mn |
| Jun 30, 2021 | 349.44 Mn |
| Mar 31, 2021 | 319.75 Mn |
| Dec 31, 2020 | 270.20 Mn |
| Sep 30, 2020 | 232.81 Mn |
| Jun 30, 2020 | 231.73 Mn |
| Mar 31, 2020 | 229.75 Mn |