Strong Health Plan Membership Growth
Health plan membership grew to 229,600 members, representing a 26% increase year-over-year.
Revenue and Profit Growth
Total revenue for Q3 2025 was $994 million, a 44% increase year-over-year, and adjusted gross profit increased by 58% year-over-year to $127 million.
Improved Medical Benefit Ratio (MBR)
Consolidated MBR improved to 87.2%, a 120 basis point improvement over the prior year.
Adjusted EBITDA Performance
Adjusted EBITDA was $32 million, exceeding the high end of the adjusted EBITDA guidance.
High Star Ratings for Health Plans
100% of health plan members are in plans rated 4 stars or above for rating year 2026, with notable performance in California and new 5-star contracts in North Carolina and Nevada.
Cash and Investments Position
The company ended the third quarter with $644 million in cash, cash equivalents, and investments.
Increased Year-End Guidance
Full year revenue guidance raised to nearly $4 billion, with adjusted EBITDA guidance increased to between $90 million and $98 million.