Evolent Health financials
$3.52−3.56%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.88B | $2.55B | $1.96B | $1.35B | $908.0M | $924.6M | $687.1M | $627.1M | $434.9M | $254.2M |
| Gross profit | $399.9M | $367.4M | $460.5M | $316.6M | $250.4M | $228.1M | $174.1M | $299.2M | $165.6M | $99.0M |
| Gross margin | 21.3% | 14.4% | 23.4% | 23.4% | 27.6% | 24.7% | 25.3% | 47.7% | 38.1% | 39.0% |
| Operating income | -$425.0M | -$40.5M | -$63.1M | $3.6M | -$42.4M | -$262.1M | -$318.5M | -$47.5M | -$72.8M | -$237.4M |
| Net income | -$579.4M | -$93.5M | -$142.3M | -$19.2M | -$37.6M | -$334.2M | -$302.0M | -$52.7M | -$60.7M | -$159.7M |
| Net margin | −30.9% | −3.7% | −7.2% | −1.4% | −4.1% | −36.1% | −43.9% | −8.4% | −13.9% | −62.8% |
| Diluted EPS | $-5.07 | $-0.81 | $-1.28 | $-0.20 | $-0.44 | $-3.94 | $-3.67 | $-0.68 | $-0.94 | $-3.55 |
| EBITDA | $96.3M | $104.2M | $95.3M | $70.4M | $43.9M | $39.5M | -$56.0M | -$4.4M | -$40.1M | -$61.7M |
| Operating cash flow | $38.8M | $18.8M | $142.6M | -$11.6M | $38.7M | -$16.2M | -$42.6M | -$20.7M | -$28.0M | -$35.5M |
| Free cash flow | $4.8M | -$6.1M | $113.8M | -$49.9M | $13.8M | -$45.7M | -$78.2M | -$60.2M | -$55.8M | -$51.0M |
| Diluted shares | 114.2M | 114.7M | 111.3M | 93.7M | 86.1M | 84.9M | 82.4M | 77.3M | 64.4M | 45.0M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $151.9M | $104.2M | $192.8M | $188.2M | $266.3M | $319.0M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Total debt | $970.5M | $662.0M | $597.0M | $413.0M | $215.7M | $289.9M |
| Total assets | $1.90B | $2.54B | $2.68B | $1.82B | $1.42B | $1.37B |
| Total liabilities | $1.48B | $1.35B | $1.43B | $957.9M | $725.8M | $752.1M |
| Shareholders' equity | $415.2M | $1.00B | $1.07B | $859.4M | $693.6M | $619.6M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology