Alignment Healthcare, Inc. (ALHC) experienced a significant after-hours plunge of 6.32% on Thursday following the release of its fourth-quarter 2025 financial results.

The healthcare provider reported a net loss of $11.006 million for the quarter, with earnings per share of -$0.05. This negative bottom-line result appears to have driven the post-market sell-off, overshadowing positive aspects of the report where 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 the company raised its health plan membership guidance and introduced 2026 revenue projections, the market's after-hours reaction suggests investor concern over the continued net losses despite top-line growth and operational improvements.