Alignment Healthcare, Inc. (ALHC) experienced a significant 24-hour plunge of 5.68%, with the decline occurring across after-hours and intraday trading sessions. The drop followed the release of the company's fourth-quarter 2025 financial results.

The healthcare provider reported a net loss of $11.006 million for the quarter, which appears to have driven the sell-off, overshadowing positive aspects of the report. The company slightly beat revenue expectations with $1.01 billion versus estimates of $1.003 billion, and delivered a substantial beat on adjusted EBITDA of $11.414 million compared to an expected loss of $4.01 million.

While Alignment Healthcare raised its health plan membership guidance and introduced 2026 revenue projections, the market's reaction suggests investor concern over the continued net losses despite top-line growth and operational improvements. The company's Q4 loss narrowed to $0.05 per share from $0.16 a year earlier, beating analyst expectations of a $0.15 loss.