Evolent Health, Inc.EVHEarnings & Financial Report
Magellan Health Inc., is an American for-profit managed health care company and subsidiary of Centene that focuses on special populations and other specialty areas of healthcare. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies and third-party administrators. It ranked 390 on the Fortune 500 in 2021.
Revenue
$621.4M
Gross Profit
$80.7M
Operating Profit
$-16.3M
Net Profit
$-23.1M
Gross Margin
13.0%
Operating Margin
-2.6%
Net Margin
-3.7%
YoY Growth
21.6%
EPS
$-0.27
Evolent Health, Inc. Q3 FY2024 Financial Summary
Evolent Health, Inc. reported revenue of $621.4M (up 21.6% YoY) for Q3 FY2024, with a net profit of $-23.1M (up 8.6% YoY) (-3.7% margin). Cost of goods sold was $540.7M, operating expenses totaled $97.0M.
Key Financial Metrics
| Total Revenue | $621.4M |
|---|---|
| Net Profit | $-23.1M |
| Gross Margin | 13.0% |
| Operating Margin | -2.6% |
| Report Period | Q3 FY2024 |
Revenue Breakdown
Evolent Health, Inc. Q3 FY2024 revenue of $621.4M breaks down across 5 segments, led by Performance Suite at $435.1M (70.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Performance Suite | $435.1M | 70.0% |
| Specialty Technology And Services Suite | $85.5M | 13.8% |
| Administrative Service | $59.4M | 9.6% |
| Cases | $41.4M | 6.7% |
| Related Party | $3.1M | 0.5% |
Evolent Health, Inc. Revenue by Segment — Quarterly Trend
Evolent Health, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Performance Suite and Specialty Technology And Services Suite) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Performance Suite | $323.3M | — | $286.9M | $267.9M |
| Specialty Technology And Services Suite | — | $95.7M | $93.3M | $81.4M |
| Administrative Service | — | $55.8M | $57.8M | $55.9M |
| Cases | $42.6M | $47.7M | $41.5M | $39.1M |
| Related Party | — | $4.5M | $3.9M | $1.0M |
Evolent Health, Inc. Annual Revenue by Year
Evolent Health, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.9B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.9B |
| 2024 | $2.6B |
| 2023 | $2.0B |
| 2022 | $1.4B |
Evolent Health, Inc. Quarterly Revenue & Net Profit History
Evolent Health, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $496.2M | +2.6% | $-26.6M | -5.4% |
| Q4 FY2025 | $468.7M | -27.5% | $-429.1M | -91.6% |
| Q3 FY2025 | $479.5M | -22.8% | $-20.9M | -4.4% |
| Q2 FY2025 | $444.3M | -31.3% | $-19.9M | -4.5% |
| Q1 FY2025 | $483.6M | -24.4% | $-64.6M | -13.4% |
| Q4 FY2024 | $646.5M | +16.3% | $-22.8M | -3.5% |
| Q3 FY2024 | $621.4M | +21.6% | $-23.1M | -3.7% |
| Q2 FY2024 | $647.1M | +37.9% | $1.6M | 0.2% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $647.1M | $621.4M | $646.5M | $483.6M | $444.3M | $479.5M | $468.7M | $496.2M |
| YoY Growth | 37.9% | 21.6% | 16.3% | -24.4% | -31.3% | -22.8% | -27.5% | 2.6% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $2.48B | $2.50B | $2.54B | $2.65B | $2.46B | $2.45B | $1.90B | $1.88B |
| Liabilities | $1.24B | $1.28B | $1.35B | $1.52B | $1.34B | $1.61B | $1.48B | $1.48B |
| Equity | $1.05B | $1.04B | $1.00B | $935.5M | $896.0M | $842.2M | $415.2M | $396.4M |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $21.4M | $18.7M | $-26.2M | $4.6M | $-30.3M | $15.8M | $48.8M |