Fierce Healthcare May 5, 2023
Alignment Health posted a net loss of $37.3 million in the first quarter, but, in the wild world of insurtechs, that counts as a win, CEO John Kao told Fierce Healthcare.
Alignment’s total revenue compared to the first quarter of last year rose 27.1% to $439.2 million, while membership increased 16.5% to 109,700, according to the company’s earnings report released late Thursday.
Kao said he expects that Alignment Health will break even next year and turn a profit in 2025. He said the company spent significant amounts of money bringing its Medicare Advantage plans to markets in Nevada, Arizona, North Carolina, Texas and Florida.
“I think we did great,” Kao said.
Alignment is the most stable player in a...
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