Alignment Healthcare reported first quarter revenue of $1.2 billion, a 33% increase from the same period last year, the company said April 30.
Medicare Advantage membership reached approximately 284,800 at the end of the quarter, up 30.9% year-over-year.
The insurer posted net income of $11.4 million, compared to a net loss of $9.4 million in the prior-year period. The company’s medical loss ratio was 88.2%, an improvement of 25 basis points year-over-year.
For the full year, the company raised its guidance across all metrics, projecting revenue of $5.1 billion to $5.19 billion, adjusted EBITDA of $133 million to $163 million, and membership of 292,000 to 298,000.
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