Highest-materiality recent filing
Revenue $652.5M vs $444.3M YoY; net loss attributable to common $28.4M vs $51.1M.
Evolent Health Reports Q1 2026 Results; Revenue Up, Net Loss Narrowed
Revenue $496.2M vs $483.6M in Q1 2025; net loss improved to $26.6M from $72.3M.
Evolent Q4 2025 revenue $468.7M, net loss $429.1M; guides 2026 revenue up ~30%
Q4 2025 revenue $468.7M, full-year $1.876B. Net loss $429.1M Q4, $579.4M full year.
Evolent Health closes acquisition of Privia Management Company
Acquisition closed on December 5, 2025, per Stock Purchase Agreement dated September 23, 2025.
Evolent Q3 Adj EBITDA $39M (8.1% margin); new CFO Ramos; 2026 revenue forecast $2.5B
Q3 revenue $479.5M, net loss $26.9M; adjusted EBITDA $39.0M vs $31.8M YoY.
Evolent sells value-based primary care business Evolent Care Partners to Privia for up to $113M
ECP acquired by Privia Health Group (PRVA) for $100M cash at close plus up to $13M contingent on 2025 MSSP performance; expected close Q4 2025.
Evolent Health issues $166.75M of 4.50% convertible notes, repurchases existing notes and stock
Issued $166.75M aggregate principal of 4.50% convertible senior notes due 2031 at 100% par.
Priced $145M (upsized from $140M) of 4.50% convertible senior notes due 2031; initial purchasers have 30-day option for additional $21.75M.
Evolent Health Announces $140M Convertible Note Offering and Discloses DOJ Investigation
Evolent Health intends to offer $140.0M aggregate principal amount of convertible senior notes due 2031, with an option for an additional $20.0M.
Evolent Q2 revenue falls 31% to $444M, net loss deepens to $51M; raises FY profitability outlook
Revenue $444.3M, down 31% YoY from $647.1M; net loss $51.1M vs $6.4M loss in prior year.
Evolent reaffirms FY2025 Adj. EBITDA guidance $135-165M; secures Ares non-dilutive financing
Reaffirmed FY2025 Adj. EBITDA guidance $135-165M and Q2 2025 guidance $33-40M.
Evolent Health Q1 revenue down 24% to $483.6M; net loss widens to $72.3M
Revenue $483.6M vs $639.7M YoY; net loss $72.3M vs $25.2M YoY.
Evolent Q4 2024 revenue $646.5M (+16.3% YoY); net loss $30.6M, adjusted EBITDA $22.6M
Revenue $2,554.7M full year 2024, +30.1% YoY; net loss $93.5M, net loss margin (3.7)%.
Evolent Health enters cooperation with Engaged Capital, appoints Springstubb to board
Appointed Brendan Springstubb (Engaged Capital affiliate) to Board; he joins Strategy Committee.
Evolent Health borrows $200M in delayed draw term loans for general corporate purposes
On Jan 24, 2025, Borrower gave notice to draw $125M (2024-A) and $75M (2024-B) delayed draw term loans, funding Jan 31.
Evolent Health amends credit agreement adding $250M in new debt facilities
Increased existing ABL revolver by $50M (with $25M funded); new delayed draw term loans of $125M and $75M.
Evolent Q3 revenue rises 21.6% to $621M, net loss $31.2M; EBITDA miss due to $42M medical cost spike
Revenue $621.4M, up 21.6% YoY; net loss $(31.2)M vs $(33.2)M prior year.
Evolent Q2 revenue $647M (+38% YoY); net loss narrows to $6.4M; Adj. EBITDA $52M; narrows FY outlook
Revenue $647.1M, up 37.9% YoY from $469.1M; net loss $(6.4)M vs $(41.4)M loss in Q2 2023.
Evolent Health Q1 revenue $639.7M (+49.6% YoY); raises FY2024 revenue guide
Revenue $639.7M, net loss $(25.2)M; Adjusted EBITDA $54.1M (8.5% margin).
Full year 2023 revenue of $1,963.9M, up 45% YoY; net loss of $(142.3)M (net loss margin -7.2%).
Evolent Health issues $402.5M convertible notes at 3.50%, repays $405M term loan
Issued $402.5M aggregate principal of 3.50% convertible senior notes due 2029; net proceeds ~$390.2M.
Evolent Health prices $350M convertible notes at 3.5% due 2029 to repay term loan
$350M aggregate principal, 3.5% coupon, semiannual interest, matures Dec 1, 2029.
Evolent Health proposes $350M convertible notes due 2029 to pay down term loan
Offering $350M aggregate principal of convertible senior notes due 2029; underwriters may purchase up to $52.5M additional.
Evolent Q3 revenue $511M (+45% YoY), adjusted EBITDA $48.7M, raises 2023 guidance
Revenue $511.0M, up 44.9% YoY; net loss $33.2M (6.5% margin); adjusted EBITDA $48.7M (9.5% margin).
Evolent restates Magellan Specialty Health financials for revenue recognition error
Restatement corrects ASC 606 accounting: net accounting applied to risk-based contracts instead of gross (previously overstated revenue).
Revenue $469.1M (+46.6% YoY); net loss $41.4M; adjusted EBITDA $47.4M (10.1% margin).
Evolent Health targets $1.95B revenue, $190M adj. EBITDA for 2023 at Investor Day
2023 revenue outlook midpoint $1.95B; adjusted EBITDA midpoint $190M.
Evolent Health Q1 rev. $427.7M (+44%), adj. EBITDA $50.5M; names new COO
Revenue $427.7M (+44% YoY); net loss $26.3M; Adj. EBITDA $50.5M (11.8% margin).
Evolent Health director David Farner resigns; Richard Jelinek nominated for board election
David Farner resigns from board effective 2023 annual meeting (June 8, 2023), triggered by UPMC ownership falling below 40%.
Evolent Health Q4 revenue up 54% to $382.4M; new partnerships to add $250M+ in 2024
Q4 revenue $382.4M (+54% YoY); net loss $11.3M; Adjusted EBITDA $32.3M (8.4% margin).
Acquired Magellan Specialty Health for ~$386.7M cash and 8.47M shares of Class A common stock.
Diane Holder notified the Board of Directors (the “Board”) of Evolent Health, Inc. (the “Company”) that she will not stand for re-election to the Board at the Company’s annual meeting of stockholders scheduled to be held on June 5, 2025 (the “2025 Annual Meeting”).
On February 3, 2025, M. Bridget Duffy, MD resigned from the Board.
On February 4, 2025, the Board (1) appointed Mr. Springstubb as a director
On February 14, 2024, the Board appointed Mr. Russell Glass to the Board with a term expiring at the Company’s 2024 annual meeting of stockholders
On February 12, 2024, Dr. Tunde Sotunde retired from the Board of Directors (the “Board”) of Evolent Health, Inc., (the “Company”).
On July 26, 2023, the Board of Directors (the “Board”) of Evolent Health, Inc, (the “Company”) appointed Dr. Toyin Ajayi to the Board with a term expiring at the Company’s 2024 annual meeting of stockholders.
In connection with organizational restructuring, the Company is announcing the departure of Steve Tutewohl, Chief Operating Officer.
On May 3, 2023, the Company’s Board of Directors appointed Emily Rafferty to serve as the Company’s Chief Operating Officer, effective July 3, 2023.
Mr. David Farner, one of UPMC’s two director nominees, offered to tender his resignation from the Company’s Board of Directors (the “Board”). The Board accepted the resignation on April 19, 2023.
In addition, on September 6, 2022, the Company announced that Frank Williams has expressed his intent not to stand for re-election at the Company’s 2023 Annual Meeting.
On September 1, 2022, Evolent Health, Inc. (the “Company”) announced that Dan McCarthy has been named President of the Company, effective September 15, 2022.
On July 28, 2022, the Company promoted Aammaad Shams, age 38, who has been serving as Interim Principal Accounting Officer and Corporate Controller of the Company, to the position of the Company’s Chief Accounting Officer and Controller, effective August 1, 2022.
Max materiality 0.90 · Median 0.65 · Most common event earnings