“Alignment’s purpose-built Medicare Advantage (MA) platform gives us the visibility and control to serve seniors the right way,” said
Additionally, the company expects to have 162,000 to 164,000 members by the end of 2024, based on its expectations for continued membership growth during the year.
With its strong membership growth, the company is reaffirming its expectation to achieve adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) breakeven in 2024.
“Our conviction to be adjusted EBITDA breakeven in 2024 is strengthened by Alignment’s product strategy, expected positive gross profit contributions from new membership, continued operating leverage and ongoing cohort improvement,” said Kao. “Furthermore, we believe we will have continued competitive tailwinds that bolster our outlook for 2025.”
Since going public in 2021, Alignment has displayed a disciplined approach to its business with 11 straight quarters of strong business results, having met or exceeded guidance across key financial metrics. Additional achievements for Alignment include earning 4- out of 5-star rating from the
“Our growth and accomplishments reflect that this is our breakout year and highlight how Alignment is the gold standard for MA done right,” continued Kao. “As we continue to expand, we will remain focused on delivering high-quality service and outcomes at a low cost and are poised to take advantage of competitive tailwinds.”
In 2024, Alignment expanded its service to
To learn more, visit alignmenthealth.com.
About
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are subject to risks and uncertainties and are based on assumptions that may prove to be inaccurate, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to attract new members and enter new markets, including the need for certain governmental approvals; our ability to maintain a high rating for our plans on the Five Star Quality Rating System; our ability to develop and maintain satisfactory relationships with care providers that service our members; risks associated with being a government contractor; changes in laws and regulations applicable to our business model; risks related to our indebtedness, including the potential for rising interest rates; changes in market or industry conditions and receptivity to our technology and services; results of litigation or a security incident; the impact of shortages of qualified personnel and related increases in our labor costs; and the impact of COVID-19 on our business and results of operation. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our Annual Report on Form 10-K for the year ended
Investor Contact
hzhuo@ahcusa.com
Media Contact
mPR, Inc. for
alignment@mpublicrelations.com
1
Source:
2024 GlobeNewswire, Inc., source