earnings
confidence high
sentiment negative
materiality 0.80
Evolent Q3 revenue rises 21.6% to $621M, net loss $31.2M; EBITDA miss due to $42M medical cost spike
Evolent Health, Inc.
2024-Q3 EPS reported
-$0.55
revenue$1,908,199,000
- Revenue $621.4M, up 21.6% YoY; net loss $(31.2)M vs $(33.2)M prior year.
- Adjusted EBITDA $31.8M (5.1% margin), down from $48.7M (9.5%) YoY.
- Medical costs exceeded expectations by $42M: $24M prior-period claims, $18M oncology spike.
- Company revises 2024 Adjusted EBITDA guidance; reiterates long-term growth targets.
- Record six new contracts signed, including oncology Performance Suite with top-5 payer (200k members).