EVHNYSEServices-Management ServicesUS GAAP · USD

Evolent Health, Inc.

Evolent Health, Inc. is a U.S.-based management services company focused on specialty care management and value-based care enablement for health plans and other risk-bearing healthcare organizations. It uses technology-enabled clinical pathways and administrative services to help customers manage complex, high-cost conditions such as oncology, cardiology, musculoskeletal care, radiology, and genetics.

Kysy yhtiöstä
Liikevaihto1 876milj. USD
−26,6 %v/v
Liikevoitto (EBIT)−410milj. USD
−913,1 %v/v
EBIT-marginaali−21,9%
−20,3 %-yks.v/v
Nettotulos−535milj. USD
−767,4 %v/v
Vapaa kassavirta38,8milj. USD
+107,0 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−1 00001 0002 0003 000milj. USD2020: 925 milj. USD2020: EBIT −271 milj. USD20202021: 908 milj. USD2021: EBIT −42 milj. USD20212022: 1 352 milj. USD2022: EBIT 3,6 milj. USD20222023: 1 964 milj. USD2023: EBIT −71 milj. USD20232024: 2 555 milj. USD2024: EBIT −40 milj. USD20242025: 1 876 milj. USD2025: EBIT −410 milj. USD20251 876−410
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Specialty Care Management Services75 %

Core services that manage complex specialty conditions and guide care decisions across oncology, cardiology, musculoskeletal, radiology, and genetics.

Administrative Services15 %

Back-office and operational support services delivered alongside specialty care programs for payer and provider partners.

Total Cost of Care Management5 %

Care management and risk-related services previously associated with Evolent Care Partners and similar arrangements.

Technology Platform and Implementation Services5 %

Identifi® and related implementation, workflow, and integration services that support clinical and administrative operations.

Asiakkaat

Evolent sells primarily to health plans, delegated arrangements, and other risk-bearing entities that want to manage specialty medical spend and improve care quality. It also serves health systems, providers, and physicians that participate in value-based payment models and need clinical decision support and administrative coordination.

Health plans and payers

Buy specialty care management and administrative services to manage high-cost specialty claims and improve member outcomes.

Risk-bearing entities

Use Evolent's programs to align incentives, manage utilization, and reduce avoidable specialty spend.

Health systems and providers

Adopt value-based care tools and workflow support to participate in alternative payment models.

Physicians and care teams

Use pathway guidance and integrated technology to support evidence-based treatment decisions.

Strategia

Evolent is repositioning its portfolio toward integrated specialty care management and away from non-core activities, including the sale of Evolent Care Partners. Management is also focused on streamlining operations, migrating acquired businesses onto a common technology platform, and improving profitability while preserving its value-based care positioning.

Concentrate on specialty care managementLyhyt aikaväli

This is the company's main revenue source and the clearest fit with its value-based care model.

Integrate acquisitions onto one platformKeskipitkä aikaväli

A common technology and operating model should improve scalability and service consistency.

Improve profitability through simplificationLyhyt aikaväli

Cost reduction and organizational simplification support sustainable earnings growth.

Maantiede

Evolent's business is concentrated in the United States, and management states that all revenue is recognized in the U.S. and substantially all long-lived assets are located there. The company therefore has limited geographic diversification, and its exposure is tied mainly to U.S. healthcare regulation, payer dynamics, and specialty-care cost trends.

Riskit

Evolent's results are exposed to U.S. healthcare regulation, reimbursement and utilization trends, and the economics of managing specialty claims. The company also faces customer concentration, regulatory/investigative risk, and execution risk as it integrates acquisitions and manages medical claims cost volatility.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Medical claims cost inflation1Customer concentration2False Claims Act / Anti-Kickback investigations3Healthcare regulatory and political change4Acquisition integration and restructuring execution5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Medical claims cost inflationVaikutus: KorkeaTodennäköisyys: Korkea

    Higher disease prevalence and higher cost per active patient can increase service costs faster than pricing.

    Kohdistuu: Performance Suite and specialty care programs

  2. Customer concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    A small number of payers represent a large share of revenue, so contract changes can materially affect results.

    KohdistuuMolinaCook County HealthFlorida BlueCenteneHumana
  3. False Claims Act / Anti-Kickback investigationsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Coding, review, and claims practices can be challenged by regulators and create legal liabilities.

    Kohdistuu: DOJ CID related to unsupported diagnosis codes

  4. Healthcare regulatory and political changeVaikutus: KeskitasoTodennäköisyys: Korkea

    Changes in federal and state healthcare rules can alter reimbursement, compliance costs, and service design.

    Kohdistuu: U.S. managed care and value-based care markets

  5. Acquisition integration and restructuring executionVaikutus: KeskitasoTodennäköisyys: Matala

    The business depends on consolidating acquired operations and technology without disrupting service delivery.

    Kohdistuu: Platform migration and operating model changes

Kirjanpito

Harkinnanvaraiset erät
Goodwill impairment

Acquired businesses create goodwill that must be tested for impairment when performance weakens.

Vaikutus: Could create large non-cash charges if reporting unit value declines

Medical claims cost estimates

The company must estimate claims-related costs in its specialty care programs, and changes can move margins materially.

Vaikutus: Affects revenue-to-cost matching and operating margin

Restructuring and repositioning costs

The 2023 repositioning plan included severance, professional fees, and office consolidation costs.

Vaikutus: Creates period-to-period comparability noise in SG&A

Discontinued or sold operations

The sale of Evolent Care Partners changes the composition of reported operations and historical comparisons.

Vaikutus: May affect segment-like trend analysis and cost base

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Elevance Health, Inc.

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Evofem Biosciences, Inc.

EVFM · Pharmaceutical Preparations

Guardant Health, Inc.

GH · Services-Medical Laboratories

Evolus, Inc.

EOLS · Pharmaceutical Preparations

Päivitetty: 24.9.2026