Evolent Health, Inc. (EVH) stock
EVHNYSEServices-Management ServicesFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 7/3029% below fair value
$4.90+0.13 (+2.73%)
Close on Nov 13, 2026Market cap $553.99MP/E –Yield –
Earnings
Evolent Health's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.
Next report
Feb 23, 2027
Q4 FY2026 · estimated, during market hours
Revenue, Q3 FY2026
$725.37M
Adjusted income per share attributable to common shareholders, Q3 FY2026
$0.06
Latest guidance
Issued
Nov 5, 2026 · 3 items
Quarterly results
Revenue and earnings per share from each of Evolent Health's earnings releases, newest first
| Quarter | Reported | Revenue | YoY | EPS | Adj. EPS | Source |
|---|---|---|---|---|---|---|
| Q4 FY2026ended Dec 31, 2026 | Feb 23, 2027Expected | – | – | – | – | – |
| Q3 FY2026ended Sep 30, 2026 | Nov 5, 2026before the open | $725.37M | – | -$0.21 | $0.06 | Release |
| Q2 FY2026ended Jun 30, 2026 | Aug 6, 2026before the open | $652.52M | +46.9% | -$0.25 | $0.02 | Release |
| Q1 FY2026ended Mar 31, 2026 | May 7, 2026before the open | $496.25M | +2.6% | -$0.24 | -$0.02 | Release |
| Q4 FY2025ended Dec 31, 2025 | Feb 24, 2026during market hours | $468.72M | -27.5% | -$3.84 | $0.08 | Release |
| Q3 FY2025ended Sep 30, 2025 | Nov 6, 2025during market hours | – | – | – | – | Release |
| Q2 FY2025ended Jun 30, 2025 | Aug 7, 2025during market hours | $444.33M | -31.3% | -$0.44 | -$0.10 | Release |
| Q1 FY2025ended Mar 31, 2025 | May 8, 2025during market hours | $483.65M | -24.4% | -$0.63 | – | Release |
| Q4 FY2024ended Dec 31, 2024 | Feb 20, 2025during market hours | $646.50M | +16.3% | – | – | Release |
| Q3 FY2024ended Sep 30, 2024 | Nov 7, 2024during market hours | $621.40M | +21.6% | – | – | Release |
| Q2 FY2024ended Jun 30, 2024 | Aug 8, 2024during market hours | $647.10M | +37.9% | -$0.06 | $0.30 | Release |
| Q1 FY2024ended Mar 31, 2024 | May 9, 2024during market hours | $639.70M | +49.6% | -$0.22 | $0.34 | Release |
| Q4 FY2023ended Dec 31, 2023 | Feb 22, 2024during market hours | $556.06M | +45.4% | -$0.36 | $0.23 | Release |
| Q3 FY2023ended Sep 30, 2023 | Nov 2, 2023during market hours | $511.00M | +44.9% | -$0.30 | $0.30 | Release |
| Q2 FY2023ended Jun 30, 2023 | Aug 2, 2023during market hours | $469.10M | +46.6% | -$0.37 | $0.14 | Release |
| Q1 FY2023ended Mar 31, 2023 | May 3, 2023during market hours | $427.70M | +44.0% | -$0.24 | $0.21 | Release |
| Q4 FY2022ended Dec 31, 2022 | Feb 22, 2023during market hours | $382.40M | +53.9% | -$0.11 | $0.10 | Release |
| Q3 FY2022ended Sep 30, 2022 | Nov 2, 2022during market hours | $352.60M | +58.5% | $0.02 | $0.62 | Release |
| Q2 FY2022ended Jun 30, 2022 | Aug 2, 2022during market hours | $319.90M | – | -$0.05 | $0.10 | Release |
| Q1 FY2022ended Mar 31, 2022 | May 4, 2022during market hours | $297.10M | – | -$0.06 | $0.12 | Release |
| Q4 FY2021ended Dec 31, 2021 | Feb 23, 2022during market hours | $248.40M | – | -$0.06 | $0.08 | Release |
| Q3 FY2021ended Sep 30, 2021 | Nov 3, 2021during market hours | $222.50M | – | -$0.15 | -$0.03 | Release |
| Q2 FY2021ended Jun 30, 2021 | Aug 4, 2021during market hours | – | – | – | – | Filing |
| Q1 FY2021ended Mar 31, 2021 | May 5, 2021during market hours | – | – | – | – | Filing |
| Q4 FY2020ended Dec 31, 2020 | Feb 25, 2021during market hours | – | – | – | – | Filing |
| Q3 FY2020ended Sep 30, 2020 | Nov 5, 2020during market hours | – | – | – | – | Filing |
Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.
Current guidance
Evolent Health's latest outlook for periods it has not reported yet, compared with what it said before
| Metric | Period | Guidance | Before | Change | Given |
|---|---|---|---|---|---|
| revenueGAAP | FY2026 | $2.60B – $2.70B | – | New | Nov 5, 2026 |
| revenue guidance range | FY2026 | $2.60B – $2.70B | $2.40B – $2.60B | Raised | Aug 6, 2026 |
| Adjusted EBITDAnon-GAAP | FY2026 | $130.00M – $135.00M | – | New | Nov 5, 2026 |
| Adjusted EBITDA rangenon-GAAP | FY2026 | $120.00M – $135.00M | $110.00M – $140.00M | Narrowed | Aug 6, 2026 |
| capitalized expendituresGAAP | FY2026 | $26.00M – $28.00M | – | New | Nov 5, 2026 |
| cash for capitalized software development | FY2026 | $25.00M – $30.00M | $25.00M – $30.00M | Reaffirmed | Aug 6, 2026 |
Guidance vs results
The last range Evolent Health gave before each report, against the figure it then reported. Full years add up the four quarters.
| Period | Metric | Guidance | Actual | Result |
|---|---|---|---|---|
| Q4 FY2025 | Revenue | $462.00M – $472.00M | $468.72M | Within range |
| Q2 FY2025 | Revenue | $440.00M – $470.00M | $444.33M | Within range |
| Q1 FY2025 | Revenue | $440.00M – $470.00M | $483.65M | Above range |
| Q4 FY2024 | Revenue | $642.00M – $667.00M | $646.50M | Within range |
| Q3 FY2024 | Revenue | $615.00M – $635.00M | $621.40M | Within range |
| Q2 FY2024 | Revenue | $625.00M – $645.00M | $647.10M | Above range |
| Q1 FY2024 | Revenue | $595.00M – $610.00M | $639.70M | Above range |
| Q4 FY2023 | Revenue | $537.00M – $557.00M | $556.06M | Within range |
| Q3 FY2023 | Revenue | $500.00M – $520.00M | $511.00M | Within range |
| Q2 FY2023 | Revenue | $455.00M – $470.00M | $469.10M | Within range |
| Q1 FY2023 | Revenue | $420.00M – $440.00M | $427.70M | Within range |
| Q4 FY2022 | Revenue | $361.00M – $381.00M | $382.40M | Above range |
| Q3 FY2022 | Revenue | $343.00M – $363.00M | $352.60M | Within range |
| Q2 FY2022 | Revenue | $290.00M – $305.00M | $319.90M | Above range |
| Q1 FY2022 | Revenue | $280.00M – $295.00M | $297.10M | Above range |
| Q4 FY2021 | Revenue | $225.00M – $240.00M | $248.40M | Above range |
Guidance history
Every forecast Evolent Health put in an earnings release, newest first
| Given | Metric | Period | Guidance | Change |
|---|---|---|---|---|
| Nov 5, 2026 | capitalized expenditures | FY2026 | $26.00M – $28.00M | New |
| Nov 5, 2026 | Adjusted EBITDA | FY2026 | $130.00M – $135.00M | New |
| Nov 5, 2026 | revenue | FY2026 | $2.60B – $2.70B | New |
| Aug 6, 2026 | cash for capitalized software development | FY2026 | $25.00M – $30.00M | Reaffirmed |
| Aug 6, 2026 | Adjusted EBITDA range | FY2026 | $120.00M – $135.00M | Narrowed |
| Aug 6, 2026 | revenue guidance range | FY2026 | $2.60B – $2.70B | Raised |
| May 7, 2026 | capitalized software development | FY2026 | $25.00M – $30.00M | Lowered |
| May 7, 2026 | Adjusted EBITDA | FY2026 | $110.00M – $140.00M | Reaffirmed |
| May 7, 2026 | revenue guidance | FY2026 | $2.40B – $2.60B | Reaffirmed |
| Feb 24, 2026 | cash for capitalized software development | FY2026 | $25.00M – $35.00M | New |
| Feb 24, 2026 | Adjusted EBITDA | FY2026 | $110.00M – $140.00M | New |
| Feb 24, 2026 | revenue | FY2026 | $2.40B – $2.60B | New |
| Nov 6, 2025 | cash for capitalized software development | FY2025 | $35.00M | New |
| Nov 6, 2025 | adjusted EBITDA | FY2025 | $144.00M – $154.00M | New |
| Nov 6, 2025 | Adjusted EBITDA | Q4 FY2025 | $30.00M – $40.00M | New |
| Nov 6, 2025 | revenue | FY2025 | $1.87B – $1.88B | New |
| Nov 6, 2025 | revenue | Q4 FY2025 | $462.00M – $472.00M | New |
| Aug 7, 2025 | capitalized software development | FY2025 | $35.00M | Reaffirmed |
| Aug 7, 2025 | Adjusted EBITDA | Q3 FY2025 | $34.00M – $42.00M | New |
| Aug 7, 2025 | adjusted EBITDA | FY2025 | $140.00M – $165.00M | Raised |
| Aug 7, 2025 | revenue | Q3 FY2025 | $460.00M – $480.00M | New |
| Aug 7, 2025 | revenue | FY2025 | $1.85B – $1.88B | Lowered |
| May 8, 2025 | capitalized software development | FY2025 | $35.00M | Reaffirmed |
| May 8, 2025 | Adjusted EBITDA | Q2 FY2025 | $33.00M – $40.00M | New |
| May 8, 2025 | adjusted EBITDA | FY2025 | $135.00M – $165.00M | Reaffirmed |
| May 8, 2025 | revenue | Q2 FY2025 | $440.00M – $470.00M | New |
| May 8, 2025 | revenue | FY2025 | $2.06B – $2.11B | Reaffirmed |
| Feb 20, 2025 | cash for capitalized software development | FY2025 | $35.00M | New |
| Feb 20, 2025 | Adjusted EBITDA | Q1 FY2025 | $31.00M – $37.00M | New |
| Feb 20, 2025 | Adjusted EBITDA | FY2025 | $135.00M – $165.00M | New |
| Feb 20, 2025 | revenue | Q1 FY2025 | $440.00M – $470.00M | New |
| Feb 20, 2025 | annual growth after adjusting for one-time contract changes in three Performance Suite contracts moving from 2024 to 2025 | FY2025 | +15% – +18% | New |
| Feb 20, 2025 | revenue | FY2025 | $2.06B – $2.11B | New |
| Nov 7, 2024 | Adjusted EBITDA | FY2024 | $160.00M – $175.00M | Lowered |
| Nov 7, 2024 | average Adjusted EBITDA growth | long-term basis | +20% | – |
| Nov 7, 2024 | Adjusted EBITDA | Q4 FY2024 | $22.00M – $37.00M | New |
| Nov 7, 2024 | average annual revenue growth | long-term basis | +15% | – |
| Nov 7, 2024 | revenue | Q4 FY2024 | $642.00M – $667.00M | New |
| Nov 7, 2024 | revenue | FY2024 | $2.55B – $2.58B | Lowered |
| Aug 8, 2024 | Cash deployed for capitalized software development | FY2024 | $25.00M | New |
| Aug 8, 2024 | Adjusted EBITDA | FY2024 | $230.00M – $245.00M | Lowered |
| Aug 8, 2024 | Adjusted EBITDA | Q3 FY2024 | $60.00M – $68.00M | New |
| Aug 8, 2024 | Cash flow from operations | FY2024 | $150.00M | New |
| Aug 8, 2024 | revenue | Q3 FY2024 | $615.00M – $635.00M | New |
| Aug 8, 2024 | revenue | FY2024 | $2.56B – $2.60B | Raised |
| May 9, 2024 | Adjusted EBITDA | Q2 FY2024 | $48.00M – $62.00M | New |
| May 9, 2024 | Adjusted EBITDA | FY2024 | $235.00M – $265.00M | Reaffirmed |
| May 9, 2024 | revenue | Q2 FY2024 | $625.00M – $645.00M | New |
| May 9, 2024 | revenue | FY2024 | $2.53B – $2.60B | New |
| Feb 22, 2024 | Adjusted EBITDA | FY2024 | $235.00M – $265.00M | New |
| Feb 22, 2024 | Adjusted EBITDA | Q1 FY2024 | $52.00M – $58.00M | New |
| Feb 22, 2024 | revenue | Q1 FY2024 | $595.00M – $610.00M | New |
| Feb 22, 2024 | revenue | FY2024 | $2.40B – $2.50B | New |
| Nov 2, 2023 | Cash deployed for capitalized software development | FY2023 | $25.00M – $30.00M | Lowered |
| Nov 2, 2023 | Adjusted EBITDA | Q4 FY2023 | $45.00M – $53.00M | New |
| Nov 2, 2023 | Adjusted EBITDA | FY2023 | $192.00M – $200.00M | Raised |
| Nov 2, 2023 | revenue | Q4 FY2023 | $537.00M – $557.00M | New |
| Nov 2, 2023 | revenue | FY2023 | $1.95B – $1.97B | Raised |
| Aug 2, 2023 | Cash deployed for software development | FY2023 | $35.00M – $40.00M | Reaffirmed |
| Aug 2, 2023 | Adjusted EBITDA | Q3 FY2023 | $42.00M – $47.00M | New |
| Aug 2, 2023 | Adjusted EBITDA | FY2023 | $185.00M – $200.00M | Raised |
| Aug 2, 2023 | revenue | Q3 FY2023 | $500.00M – $520.00M | New |
| Aug 2, 2023 | revenue | FY2023 | $1.94B – $1.97B | New |
| May 3, 2023 | Cash deployed for software development | FY2023 | $35.00M – $40.00M | Reaffirmed |
| May 3, 2023 | Adjusted EBITDA | Q2 FY2023 | $45.00M – $49.00M | New |
| May 3, 2023 | Adjusted EBITDA | FY2023 | $180.00M – $200.00M | Reaffirmed |
| May 3, 2023 | revenue | Q2 FY2023 | $455.00M – $470.00M | New |
| May 3, 2023 | revenue | FY2023 | $1.94B – $1.97B | Raised |
| Feb 22, 2023 | Cash deployed for software development | FY2023 | $35.00M – $40.00M | New |
| Feb 22, 2023 | Adjusted EBITDA | Q1 FY2023 | $45.00M – $50.00M | New |
| Feb 22, 2023 | Adjusted EBITDA | FY2023 | $180.00M – $200.00M | New |
| Feb 22, 2023 | revenue | Q1 FY2023 | $420.00M – $440.00M | New |
| Feb 22, 2023 | Revenue | FY2023 | $1.92B – $1.96B | New |
| Nov 2, 2022 | Cash deployed for software development | FY2022 | $30.00M – $35.00M | Reaffirmed |
| Nov 2, 2022 | Adjusted EBITDA | Q4 FY2022 | $24.00M – $29.00M | New |
| Nov 2, 2022 | Adjusted EBITDA | FY2022 | $98.00M – $103.00M | Narrowed |
| Nov 2, 2022 | revenue | Q4 FY2022 | $361.00M – $381.00M | New |
| Nov 2, 2022 | Revenue | FY2022 | $1.33B – $1.35B | Raised |
| Aug 2, 2022 | Cash deployed for software development | FY2022 | $30.00M – $35.00M | Raised |
| Aug 2, 2022 | Adjusted EBITDA | Q3 FY2022 | $24.00M – $29.00M | New |
| Aug 2, 2022 | Adjusted EBITDA | FY2022 | $95.00M – $105.00M | Raised |
| Aug 2, 2022 | revenue | Q3 FY2022 | $343.00M – $363.00M | New |
| Aug 2, 2022 | Revenue | FY2022 | $1.32B – $1.36B | New |
| May 4, 2022 | Cash deployed for software development | FY2022 | $25.00M – $30.00M | Reaffirmed |
| May 4, 2022 | Adjusted EBITDA | Q2 FY2022 | $18.00M – $23.00M | New |
| May 4, 2022 | Adjusted EBITDA | FY2022 | $85.00M – $95.00M | Raised |
| May 4, 2022 | revenue | Q2 FY2022 | $290.00M – $305.00M | New |
| May 4, 2022 | Revenue | FY2022 | $1.16B – $1.21B | Raised |
| Feb 23, 2022 | Cash deployed for software development | FY2022 | $25.00M – $30.00M | New |
| Feb 23, 2022 | Adjusted EBITDA | Q1 FY2022 | $20.00M – $25.00M | New |
| Feb 23, 2022 | Adjusted EBITDA | FY2022 | $80.00M – $90.00M | New |
| Feb 23, 2022 | revenue | Q1 FY2022 | $280.00M – $295.00M | New |
| Feb 23, 2022 | Revenue | FY2022 | $1.12B – $1.18B | New |
| Nov 3, 2021 | Adjusted EBITDA | Q4 FY2021 | $14.00M – $18.00M | New |
| Nov 3, 2021 | Adjusted EBITDA | FY2021 | $56.00M – $60.00M | New |
| Nov 3, 2021 | revenue | Q4 FY2021 | $225.00M – $240.00M | New |
| Nov 3, 2021 | Revenue | FY2021 | $884.00M – $900.00M | New |
Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.
Press releases
Releases Evolent Health filed with the SEC as exhibits to Form 8-K or 6-K
- Results
- Results
- Results
- Results
- Results
- Update
- News
- News
- Results
- Update
- Results
- Update
- Results
- News
- Update
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