Evolent Health, Inc. (EVH) Financial Statements
Industry: Management Services (Services)
In fiscal 2025, Evolent Health reported revenue of $1.88B, down 26.6% from $2.55B the year before. Net income was -$534.5M (a -28.5% net margin), or -$5.07 per diluted share. Gross margin was 21.3% and operating margin was -21.9%. Operating activities generated $38.8M of cash. At fiscal year end, Evolent Health held $1.90B in total assets against $1.48B in total liabilities, including $151.9M of cash and equivalents.
Open the full interactive Evolent Health financials → Quarterly statements, key ratios, valuation history and price charts.
Evolent Health Key Stats
| Share Price | $4.60 |
|---|---|
| Market Cap | $517.7M |
| Revenue YoY Growth | -26.6% |
| 52-Week Range | $2.17 – $8.18 |
| Shares Outstanding | 112.5 million (basic, 2026 Q2) |
Evolent Health Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.02B | $908.0M | $1.35B | $1.96B | $2.55B | $1.88B |
| Cost of Goods Sold | — | — | $1.35B | $2.04B | $2.60B | $2.29B |
| Gross Profit | — | — | $3.6M | $460.5M | $367.4M | $399.9M |
| Operating Income | -$270.6M | -$42.4M | $3.6M | -$71.2M | -$40.5M | -$410.1M |
| Pre-Tax Income | -$337.8M | -$29.8M | -$62.1M | -$202.4M | -$63.0M | -$534.6M |
| Income Tax | -$3.6M | $483,000 | -$43.4M | -$89.4M | -$1.4M | -$126,000 |
| Net Income | -$334.2M | -$37.6M | -$19.2M | -$113.0M | -$61.6M | -$534.5M |
| Diluted EPS | -$3.94 | -$0.44 | -$0.20 | -$1.28 | -$0.81 | -$5.07 |
Evolent Health Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $479.5M | $468.7M | $496.2M | $652.5M |
| Net Income | -$20.9M | -$429.1M | -$26.6M | -$28.4M |
| Diluted EPS | -$0.24 | -$3.76 | -$0.24 | -$0.25 |
Evolent Health Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $340.5M | $266.3M | $188.2M | $192.8M | $104.2M | $151.9M |
| Current Assets | $546.1M | $524.0M | $478.1M | $683.7M | $607.1M | $506.4M |
| Total Assets | $1.37B | $1.42B | $1.82B | $2.68B | $2.54B | $1.90B |
| Current Liabilities | $401.8M | $445.5M | $433.4M | $674.2M | $715.5M | $385.3M |
| Total Long-Term Debt | $289.9M | $215.7M | $413.0M | $597.0M | $490.5M | $970.5M |
| Total Liabilities | $750.6M | $725.8M | $957.9M | $1.43B | $1.35B | $1.48B |
| Shareholders' Equity | $619.6M | $693.6M | $859.4M | $1.07B | $1.00B | $415.2M |
Evolent Health Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$16.2M | $38.7M | -$11.6M | $142.6M | $18.8M | $38.8M |
| Cash From Investing | $261.1M | -$15.8M | -$259.1M | -$415.5M | -$62.9M | -$233,000 |
| Cash From Financing | -$11.9M | -$29.5M | $131.5M | $281.3M | -$565,000 | -$35.9M |
Figures from Evolent Health's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Evolent Health financials page for every line item.
Evolent Health Company Profile
| Ticker | EVH |
|---|---|
| Exchange | NYSE |
| Industry | Management Services (Services) |
| Headquarters | Arlington, Virginia |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001628908 |
Frequently Asked Questions
What was Evolent Health's revenue in fiscal 2025?
Evolent Health (EVH) reported revenue of $1.88B for fiscal 2025.
What is Evolent Health's annual revenue history?
Evolent Health's annual revenue by fiscal year: 2020: $1.02B; 2021: $908.0M; 2022: $1.35B; 2023: $1.96B; 2024: $2.55B; 2025: $1.88B.
What was Evolent Health's net income in fiscal 2025?
Evolent Health reported net income of -$534.5M for fiscal 2025.
What was Evolent Health's earnings per share (EPS) in fiscal 2025?
Evolent Health's diluted EPS was -$5.07 for fiscal 2025 (adjusted for any later stock splits).
What was Evolent Health's revenue last quarter?
In its most recent reported quarter (2026 Q2), Evolent Health reported revenue of $652.5M.
How much debt does Evolent Health have?
Evolent Health reported $970.5M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Evolent Health are outstanding?
Evolent Health reported a weighted average of 112.5 million basic shares outstanding in 2026 Q2.
What is Evolent Health's market cap?
Based on its latest closing price, Evolent Health (EVH) has a market capitalization of about $517.7M.
When does Evolent Health's fiscal year end?
Evolent Health's fiscal year end, as registered with the SEC, is December 31.
Where is Evolent Health headquartered?
Evolent Health lists its business address in Arlington, Virginia in its SEC filings.