ALIGNMENT HEALTHCARE, INC. Item 7.01 Regulation FD Disclosure.
Members of
Update on AEP Performance and Full-Year 2022 Guidance
The Company has completed the Annual Enrollment Period ("AEP") for 2023 and
currently estimates that it will have approximately 108,300 members enrolled in
its HMO and PPO contracts ("Health Plan Members") as of
The Company expects
Additionally, the Company is reaffirming its financial guidance for the fiscal
year ended
$ Millions Low High Revenue$1,410 $1,415 Adjusted Gross Profit1$189 $192 Adjusted EBITDA2 ($33 ) ($30 ) 1.
Adjusted gross profit is a non-GAAP financial measure that is presented as supplemental disclosure, that the Company defines as loss from operations before depreciation and amortization, clinical equity-based compensation expense, and selling, general, and administrative expenses. The Company cannot reconcile its estimated ranges for adjusted gross profit to loss from operations, the most directly comparable GAAP measure, and cannot provide estimated ranges for loss from operations, without unreasonable efforts because of the uncertainty around certain items that may impact loss from operations, including equity-based compensation expense and depreciation and amortization, that are not within its control or cannot be reasonably predicted.
2.
Adjusted EBITDA is a non-GAAP financial measure that is presented as supplemental disclosure, that the Company defines as net loss before interest expense, income taxes, depreciation and amortization expense, reorganization and transaction-related expenses, equity-based compensation expense, loss on sublease and loss on extinguishment of debt. The Company cannot reconcile its estimated ranges for Adjusted EBITDA to net loss, the most directly comparable GAAP measure, and cannot provide estimated ranges for net loss, without unreasonable efforts because of the uncertainty around certain items that may impact net loss, including equity-based compensation expense and depreciation and amortization, that are not within its control or cannot be reasonably predicted.
The Company believes that non-GAAP financial measures provide an additional way
of viewing aspects of its operations that, when viewed with GAAP results,
provide a more complete understanding of its results of operations and the
factors and trends affecting its business. These non-GAAP financial measures are
also used by its management to evaluate financial results and to plan and
forecast future periods. However, non-GAAP financial measures should be
considered as a supplement to, and not as a substitute for, or superior to, the
corresponding measures calculated in accordance with GAAP. For more information
on the Company's use of non-GAAP financial measures, please refer to its
Cautionary Statement
This Current Report on Form 8-K 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
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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: the Company's ability to attract new
members and enter new markets, including the need for certain governmental
approvals; its ability to maintain a high rating for its plans on the Five Star
Quality Rating System; risks associated with being a government contractor;
changes in laws and regulations applicable to its business model; risks related
to its indebtedness, including the potential for rising interest rates; changes
in market or industry conditions and receptivity to its technology and services;
results of litigation or a security incident; the impact of shortages of
qualified personnel and related increases in its labor costs; and the impact of
COVID-19 on its business and results of operation. For a detailed discussion of
the risk factors that could affect the Company's actual results, please refer to
the risk factors identified in its Annual Report on Form 10-K for the year ended
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