Growth Metrics

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

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DateValue
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