Evolent Health, Inc.

NYSE•EVH

CEO: Mr. Seth Barrie Blackley

Sector: Healthcare

Industry: Medical - Healthcare Information Services

Listing Date: 2015-06-05

Evolent Health, Inc., through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients. In addition, the company provides holistic total cost of care management. Evolent Health, Inc. was founded in 2011 and is headquartered in Arlington, Virginia.

Contact Information

1812 N. Moore Street, Suite 1705, Arlington, VA, 22209, United States

571-389-6000

www.evolent.com

Market Cap

$423.11M

P/E (TTM)

-0.8

26.9

Dividend Yield

52W High

$12.07

52W Low

$2.10

52W Range

17%

Rank53Top 76.1%

2.8

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Weak • 2.8 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$468.72M+0.00%

4-Quarter Trend

EPS

-$3.76+0.00%

4-Quarter Trend

FCF

$41.04M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Drops 26.6% Total revenue decreased $678.5 M USD to $1.88 B USD, driven by Performance Suite customer transitions and scope narrowing.

Cost of Revenue Improves Cost of revenue fell 32.5% to $1.48 B USD, primarily due to $715.7 M USD lower claims cost from scope shifts.

Significant Goodwill Impairment Recorded $398.0 M USD non-cash goodwill impairment charge following prolonged stock price decline below carrying value assessment.

Ending Cash Position Cash and restricted cash totaled $180.7 M USD as of December 31, 2025, sufficient for next twelve months operations.

Risk Factors

High Partner Revenue Concentration Significant portion of revenue derived from largest partners; loss or renegotiation of contracts could severely impact financial results.

Operating Loss Widens Sharply Operating loss increased 913.1% to $(410.1 M) USD in 2025, reflecting revenue drop and significant goodwill charge recorded.

Debt Covenants Limit Flexibility $934.0 M USD principal debt outstanding subjects operations to restrictive covenants, limiting financing flexibility and growth funding.

Ongoing Regulatory Scrutiny Risks Subject to audits by CMS and governmental payers, including ongoing False Claims Act investigation impacting reputation and potential loss.

Outlook

Growth via Embedded Expansion Expect growth through expanding lives in existing populations, cross-selling solutions, and capturing value via new risk-sharing arrangements.

Scale Reduces Cost Percentage Expect centralized resource investment to decrease as percentage of revenue by scaling investment across broader group of partners.

Invest in Proprietary Technology Continue investing in proprietary technology like Identifi® to enhance clinical processes, scale value-based services, and capitalize on payment relationships.

Selectively Pursue Acquisitions Will pursue acquisition and investment opportunities of niche vendors or complementary businesses to expand breadth of offerings.

Peer Comparison

Revenue (TTM)

AMN

$2.73B

-8.5%

EVH

$1.88B

-26.6%

TNDM

$1.01B

-4.2%

Gross Margin (Latest Quarter)

ANAB

199.8%

+99.5pp

MGTX

99.4%

+33.5pp

KURA

97.3%

+0.0pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
ANAB	$2.69B	-130.9	1813.8%	79.8%
BFLY	$1.29B	-16.1	-35.3%	6.9%
TNDM	$1.24B	-6.0	-142.0%	64.0%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-1.0%

Flat Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

75%

Volatile Cash Flow

Deep Research

Next earnings:May 6, 2026

EPS:-$0.05

Revenue:$534.04M

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data