Revenue
$1.88B
Fiscal year ended 2025-12-31Operating income
-$410.14M
Fiscal year ended 2025-12-31Free cash flow
Unavailable
Fiscal year ended 2025-12-31Evolent Health, Inc. (EVH) reported revenue of $1.88B and net income of -$534.51M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from Evolent Health, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Management Services.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.88B | $2.55B | $1.96B | $1.35B | $907.96M | $924.64M | $687.12M | $627.06M | $434.95M | $254.19M |
| Cost of revenue | $1.48B | $2.19B | $1.50B | $1.04B | $657.55M | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | $399.88M | $367.35M | $460.47M | $316.58M | $250.41M | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | -$410.14M | -$40.48M | -$71.21M | $3.64M | -$42.41M | -$262.85M | -$308.88M | -$47.48M | -$72.84M | -$237.42M |
| Net income | -$534.51M | -$61.62M | -$113.04M | -$19.16M | -$37.60M | -$334.25M | -$301.97M | -$52.66M | -$60.66M | -$159.74M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | $15.50M | $15.10M | $19.80M | $18.20M | $17.20M | $11.10M |
| Weighted-average diluted shares | shares 114.21M | shares 114.68M | shares 111.25M | shares 93.70M | shares 86.07M | shares 84.93M | shares 82.36M | Unavailable | shares 64.35M | shares 45.03M |
| Pretax income | -$534.64M | -$63.04M | -$202.40M | -$62.08M | -$29.80M | -$330.54M | -$329.99M | -$54.15M | -$76.40M | -$237.53M |
| Income tax expense | -$126.00K | -$1.41M | -$89.36M | -$43.38M | $483.00K | -$2.37M | -$22.80M | $40.00K | -$6.64M | -$10.76M |
| Diluted EPS | $-5.07 | $-0.81 | $-1.28 | $-0.20 | $-0.44 | $-3.94 | $-3.67 | Unavailable | $-0.94 | $-3.55 |
| Selling, general & administrative | $303.87M | $263.05M | $358.11M | $269.27M | $219.50M | $210.41M | $236.45M | $235.42M | $205.67M | $160.69M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $151.86M | $104.20M | $192.82M | $188.20M | $266.28M | $319.00M | $101.01M | $228.32M | $238.43M | $134.56M |
| Total assets | $1.90B | $2.54B | $2.68B | $1.82B | $1.42B | $1.37B | $1.50B | $1.72B | $1.31B | $1.20B |
| Current assets | $506.37M | $607.12M | $683.67M | $478.05M | $523.96M | $547.65M | $228.80M | $487.97M | $378.18M | $264.97M |
| Total liabilities | $1.48B | $1.35B | $1.43B | $957.88M | $725.82M | $752.10M | $568.97M | $532.92M | $266.39M | $287.72M |
| Current liabilities | $385.26M | $715.50M | $674.24M | $433.44M | $445.49M | $403.29M | $192.77M | $269.36M | $132.70M | $131.94M |
| Total equity incl. NCI | $415.19M | $1.00B | $1.07B | $859.42M | $693.63M | $619.60M | $929.05M | $1.19B | $1.05B | $912.11M |
| Temporary (mezzanine) equity | $0 | $190.17M | $178.43M | $0 | $0 | $0 | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | $309.86M | $414.68M | $446.75M | $254.68M | $130.60M | $124.06M | $75.67M | $80.21M | $48.95M | $40.64M |
| Goodwill | $694.48M | $1.14B | $1.12B | $722.77M | $426.30M | $349.03M | $566.36M | $768.12M | $628.19M | $626.57M |
| Long-term debt | $970.54M | $490.52M | $597.05M | $412.99M | $215.68M | $263.34M | $293.67M | $221.04M | $121.39M | $120.28M |
| Accounts payable | $59.78M | $96.02M | $48.25M | $57.17M | $96.08M | $31.98M | $37.49M | $146.76M | $42.93M | $43.89M |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $38.84M | $18.76M | $142.58M | -$11.55M | $38.75M | -$16.22M | -$42.64M | -$20.65M | -$27.96M | -$35.51M |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $35.53M | $39.55M | $27.85M | $15.53M |
| Investing cash flow | -$233.00K | -$62.93M | -$415.54M | -$259.12M | -$15.79M | $261.07M | -$181.63M | -$160.38M | -$12.26M | -$96.66M |
| Financing cash flow | -$35.92M | -$565.00K | $281.34M | $131.54M | -$29.55M | -$11.86M | -$35.54M | $274.02M | $165.56M | $150.18M |
| Net change in cash | $2.20M | -$44.96M | $8.30M | -$139.78M | -$6.64M | $233.05M | -$259.79M | $92.96M | $125.33M | $18.02M |
| Stock-based compensation | $39.74M | $39.75M | $40.50M | $33.98M | $16.71M | $14.61M | $15.62M | $17.61M | $20.44M | $18.60M |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | $40.00M | $0 | $0 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $115.85M | $118.37M | $123.42M | $67.20M | $60.04M | $61.48M | $60.91M | $44.52M | $32.37M | $17.22M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | -$55.81M | -$51.04M |
| Gross margin | 21.3% | 14.4% | 23.4% | 23.4% | 27.6% | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | -21.9% | -1.6% | -3.6% | 0.3% | -4.7% | -28.4% | -45.0% | -7.6% | -16.7% | -93.4% |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | -12.8% | -20.1% |
| SBC / revenue | 2.1% | 1.6% | 2.1% | 2.5% | 1.8% | 1.6% | 2.3% | 2.8% | 4.7% | 7.3% |
| Current ratio | 1.31x | 0.85x | 1.01x | 1.10x | 1.18x | 1.36x | 1.19x | 1.81x | 2.85x | 2.01x |
| Revenue YoY growth | -26.6% | 30.1% | 45.3% | 48.9% | -1.8% | 34.6% | 9.6% | 44.2% | 71.1% | Unavailable |
| Net margin | -28.5% | -2.4% | -5.8% | -1.4% | -4.1% | -36.1% | Unavailable | -8.4% | -13.9% | -62.8% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 2.9% | 2.9% | 4.0% | 4.4% |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 6.4% | 6.1% |
| Long-term debt / equity | 2.34x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open EVH in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-06View SEC filing
10-Q · Filed 2026-05-07View SEC filing
10-K · Filed 2026-02-25View SEC filing
10-Q · Filed 2025-11-07View SEC filing
10-Q · Filed 2025-08-11View SEC filing
10-Q · Filed 2025-05-09View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.