10-Q Filing

ALIGNMENT HEALTHCARE, INC. CIK: 1832466 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0000950170-21-000261`
Period End Date	20210331
Filing Date	20210517
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	alhc-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 32 Cash Flow Statement 76 Stockholders Equity 22

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.00K	USD	Point-in-time
Allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	0.00	shares	Point-in-time
Cash	`Cash`	$207.31M	USD	Point-in-time
Cash	`Cash`	$528.42M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts receivable (less allowance for credit losses of $8 at March 31, 2021 and $0 at December 31, 2020, respectively)	`AccountsReceivableNetCurrent`	$49.46M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable (less allowance for credit losses of $8 at March 31, 2021 and $0 at December 31, 2020, respectively)	`AccountsReceivableNetCurrent`	$40.14M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$26.77M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.23M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$264.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$604.65M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$28.40M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	164.06M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Right of use asset, net	`OperatingLeaseRightOfUseAsset`	$9.89M	USD	Point-in-time
Right of use asset, net	`OperatingLeaseRightOfUseAsset`	$9.58M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	164.06M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	187.27M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	187.27M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	164.06M	shares	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$34.56M	USD	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$34.65M	USD	Point-in-time
Restricted and other assets	`OtherRestrictedAssetsNoncurrent`	$2.15M	USD	Point-in-time
Restricted and other assets	`OtherRestrictedAssetsNoncurrent`	$2.15M	USD	Point-in-time
Total assets	`Assets`	$679.34M	USD	Point-in-time
Total assets	`Assets`	$338.50M	USD	Point-in-time
Medical expenses payable	`MedicalExpensesPayableCurrent`	$128.67M	USD	Point-in-time
Medical expenses payable	`MedicalExpensesPayableCurrent`	$112.61M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$15.68M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$19.64M	USD	Point-in-time
Accrued compensation	`AccruedCompensation`	$21.48M	USD	Point-in-time
Accrued compensation	`AccruedCompensation`	$25.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$153.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$169.79M	USD	Point-in-time
Long-term debt, net of debt issuance costs	`LongTermDebtNoncurrent`	$144.17M	USD	Point-in-time
Long-term debt, net of debt issuance costs	`LongTermDebtNoncurrent`	$145.73M	USD	Point-in-time
Long-term portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$9.56M	USD	Point-in-time
Long-term portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$10.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$325.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$307.89M	USD	Point-in-time
Commitments and Contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.001 par value; 100,000,000 and 0 shares authorized as of March 31, 2021 and December 31, 2020 respectively; no shares issued and outstanding as of March 31, 2021 and December 31, 2020	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.001 par value; 100,000,000 and 0 shares authorized as of March 31, 2021 and December 31, 2020 respectively; no shares issued and outstanding as of March 31, 2021 and December 31, 2020	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.001 par value; 1,000,000,000 and 164,063,787 shares authorized as of March 31, 2021 and December 31, 2020 respectively; 187,273,782 and 164,063,787 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$188.00K	USD	Point-in-time
Common stock, $.001 par value; 1,000,000,000 and 164,063,787 shares authorized as of March 31, 2021 and December 31, 2020 respectively; 187,273,782 and 164,063,787 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$164.00K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$410.02M	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$790.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-436.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-379.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-78.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.61M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$42.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$354.25M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$679.34M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$338.50M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Earned premiums	`PremiumsEarnedNet`	$267.00M	USD	1 Quarter
Earned premiums	`PremiumsEarnedNet`	$224.27M	USD	1 Quarter
Other	`RevenueNotFromContractWithCustomer`	$367.00K	USD	1 Quarter
Other	`RevenueNotFromContractWithCustomer`	$82.00K	USD	1 Quarter
Total revenues	`Revenues`	$267.08M	USD	1 Quarter
Total revenues	`Revenues`	$224.63M	USD	1 Quarter
Medical expenses	`MedicalExpenses`	$193.40M	USD	1 Quarter
Medical expenses	`MedicalExpenses`	$251.09M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$64.91M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$32.79M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.74M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.56M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$319.75M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$229.75M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-52.66M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.12M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.25M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.16M	USD	1 Quarter
Other (income) expenses	`OtherNonOperatingExpenseIncome`	$797.00K	USD	1 Quarter
Other (income) expenses	`OtherNonOperatingExpenseIncome`	$-38.00K	USD	1 Quarter
Total other expenses	`OtherNonoperatingIncomeExpense`	$-4.96M	USD	1 Quarter
Total other expenses	`OtherNonoperatingIncomeExpense`	$-4.21M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-56.87M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.07M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-56.87M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.07M	USD	1 Quarter
Total weighted-average common shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingNetOfRestrictedSharesOfCommonStockBasicAndDiluted`	140.76M	shares	1 Quarter
Total weighted-average common shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingNetOfRestrictedSharesOfCommonStockBasicAndDiluted`	154.43M	shares	1 Quarter
Net loss per unit - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.37	USD	1 Quarter
Net loss per unit - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-10.07M	USD	1 Quarter
Net loss	`ProfitLoss`	$-56.87M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$8.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$10.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.67M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.79M	USD	1 Quarter
Amortization-debt issuance costs and investment discount	`AmortizationOfFinancingCosts`	$540.00K	USD	1 Quarter
Amortization-debt issuance costs and investment discount	`AmortizationOfFinancingCosts`	$550.00K	USD	1 Quarter
Payment-in-kind interest	`PaidInKindInterest`	$1.01M	USD	1 Quarter
Payment-in-kind interest	`PaidInKindInterest`	$982.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-860.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Equity-based compensation and common stock payments	`ShareBasedCompensationAndCommonStockPayments`	$20.39M	USD	1 Quarter
Equity-based compensation and common stock payments	`ShareBasedCompensationAndCommonStockPayments`	$326.00K	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseCost`	$648.00K	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseCost`	$573.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.33M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.67M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$9.55M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.91M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.00K	USD	1 Quarter
Medical expenses payable	`IncreaseDecreaseInMedicalExpensesPayable`	$16.07M	USD	1 Quarter
Medical expenses payable	`IncreaseDecreaseInMedicalExpensesPayable`	$-5.52M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-298.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$6.54M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInAccruedCompensation`	$-3.69M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInAccruedCompensation`	$-1.10M	USD	1 Quarter
Lease liabilities	`OperatingLeasePayments`	$3.88M	USD	1 Quarter
Lease liabilities	`OperatingLeasePayments`	$832.00K	USD	1 Quarter
Noncurrent liabilities	`IncreaseDecreaseInNoncurrentLiabilities`	$-3.94M	USD	1 Quarter
Noncurrent liabilities	`IncreaseDecreaseInNoncurrentLiabilities`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-38.11M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-21.82M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$1.00M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$750.00K	USD	1 Quarter
Sale of investments	`ProceedsFromSaleOfLongtermInvestments`	$250.00K	USD	1 Quarter
Sale of investments	`ProceedsFromSaleOfLongtermInvestments`	$750.00K	USD	1 Quarter
Acquisition of property and equipment	`ProceedsFromAcquisitionOfPropertyAndEquipment`	$-4.45M	USD	1 Quarter
Acquisition of property and equipment	`ProceedsFromAcquisitionOfPropertyAndEquipment`	$-3.08M	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$100.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.73M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.45M	USD	1 Quarter
Equity repurchase	`PaymentsForRepurchaseOfEquity`	$516.00K	USD	1 Quarter
Equity repurchase	`PaymentsForRepurchaseOfEquity`	$1.47M	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$390.60M	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$135.00M	USD	1 Quarter
Common stock issuance costs	`PaymentsOfStockIssuanceCosts`	$25.47M	USD	1 Quarter
Common stock issuance costs	`PaymentsOfStockIssuanceCosts`	$3.00M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$363.66M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$131.48M	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$321.11M	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$105.93M	USD	1 Quarter
Cash and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$192.41M	USD	Point-in-time
Cash and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$86.48M	USD	Point-in-time
Cash and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$528.92M	USD	Point-in-time
Cash and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$207.81M	USD	Point-in-time
Cash and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$192.41M	USD	Point-in-time
Cash and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$86.48M	USD	Point-in-time
Cash and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$528.92M	USD	Point-in-time
Cash and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$207.81M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$2.64M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$2.68M	USD	1 Quarter
Acquisition of property in accounts payable	`AcquisitionOfPropertyInAccountsPayable`	$93.00K	USD	1 Quarter
Acquisition of property in accounts payable	`AcquisitionOfPropertyInAccountsPayable`	$474.00K	USD	1 Quarter
Common stock issuance costs included in accounts payable and accrued expenses	`CommonStockIssuanceCostsIncludedInAccountsPayableAndAccruedExpenses`	$700.00K	USD	1 Quarter
Common stock issuance costs included in accounts payable and accrued expenses	`CommonStockIssuanceCostsIncludedInAccountsPayableAndAccruedExpenses`	$3.53M	USD	1 Quarter
Cash	`CashAndCashEquivalentsAtCarryingValue`	$528.42M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$192.41M	USD	Point-in-time
Restricted cash in restricted and other assets	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Restricted cash in restricted and other assets	`RestrictedCashAndCashEquivalents`	$500.00K	USD	Point-in-time
Cash and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$192.41M	USD	Point-in-time
Cash and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$86.48M	USD	Point-in-time
Cash and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$528.92M	USD	Point-in-time
Cash and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$207.81M	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$-78.71M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$30.61M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$42.33M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$354.25M	USD	Point-in-time
Beginning Balance, Shares	`CommonStockSharesIssued`	164.06M	shares	Point-in-time
Beginning Balance, Shares	`CommonStockSharesIssued`	187.27M	shares	Point-in-time
Net loss	`NetIncomeLoss`	$-56.87M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.07M	USD	1 Quarter
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$131.30M	USD	1 Quarter
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$361.60M	USD	1 Quarter
Issuance of common stock to third-party business partners	`StockIssuedDuringPeriodValueToTheThirdPartyBusinessProviders`	$6.48M	USD	1 Quarter
Issuance of common stock to stock appreication rights holders	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$11.51M	USD	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$326.00K	USD	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.40M	USD	1 Quarter
Equity repurchase	`StockRepurchasedDuringPeriodValue`	$1.47M	USD	1 Quarter
Equity repurchase	`StockRepurchasedDuringPeriodValue`	$516.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$-78.71M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$30.61M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$42.33M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$354.25M	USD	Point-in-time
Ending Balance, Shares	`CommonStockSharesIssued`	164.06M	shares	Point-in-time
Ending Balance, Shares	`CommonStockSharesIssued`	187.27M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.