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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 618,067 $ 432,859
Accounts receivable (less allowance for credit losses of $548 at September 30, 2025 and $0 at December 31, 2024) 219,837 153,904
Investments - current 26,013 37,791
Prepaid expenses and other current assets 121,407 37,084
Total current assets 985,324 661,638
Property and equipment, net 67,017 67,139
Right of use asset, net 7,338 7,818
Goodwill 32,060 34,826
Intangible Assets, net 4,550 4,550
Other assets 6,325 6,092
Total assets 1,102,614 782,063
Current Liabilities:    
Medical expenses payable 528,796 289,788
Accounts payable and accrued expenses 34,009 22,126
Accrued compensation 48,280 39,931
Total current liabilities 611,085 351,845
Long-term debt, net of debt issuance costs 322,736 321,428
Long-term portion of lease liabilities 6,922 7,835
Total liabilities 940,743 681,108
Commitments and Contingencies (Note 12)
Stockholders' Equity:    
Preferred stock, $.001 par value; 100,000,000 shares authorized as of September 30, 2025 and December 31, 2024, respectively; no shares issued and outstanding as of September 30, 2025 and December 31, 2024 0 0
Common stock, $.001 par value; 1,000,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 199,988,515 and 191,778,639 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 200 192
Additional paid-in capital 1,159,682 1,107,952
Accumulated deficit (998,011) (1,008,293)
Total Alignment Healthcare, Inc. stockholders' equity 161,871 99,851
Noncontrolling interest 0 1,104
Total stockholders' equity 161,871 100,955
Total liabilities and stockholders' equity $ 1,102,614 $ 782,063