Evolent Health, Inc. announced a new partnership model with American Oncology Network (AON) to provide high-quality, more affordable, and connected cancer care without relying on prior authorization.
This model will introduce quality-focused interventions and leverage an innovative data and analytics platform to drive clinical insights.
Providers demonstrating adherence to quality will be "gold-carded," exempting them from seeking authorization from payers for most tests and treatments.
Evolent intends to use its care navigation program to complement AON's existing capabilities, with the model expected to roll out in select markets in the year ahead.
This initiative is part of the global digital health market, which is projected to grow from $427.24 billion in 2025 to $1,500.69 billion by 2032, exhibiting a CAGR of 19.66%.

8 days ago

Press Release

Evolent Reports Q3 2025 Results and Narrows 2025 Outlook

EVH

Earnings

Guidance Update

Debt Issuance

Evolent reported Q3 2025 revenue of $479.5 million, representing 8% sequential growth driven by new launches, and Adjusted EBITDA of $39.0 million, a 23% year-over-year increase.
The company narrowed its full-year 2025 revenue outlook to between $1.87 billion and $1.88 billion and its Adjusted EBITDA outlook to between $144 million and $154 million.
In Q3 2025, Evolent repurchased 4.4 million shares for $40.0 million.
The company issued $166.8 million of 4.50% 2031 Notes and repaid $167.4 million of 2025 Notes, and exchanged $175.0 million of Series A Preferred Stock for a second lien term loan.
As of September 30, 2025, cash and cash equivalents were $116.7 million, with period-end net leverage at 6.7x on LTM Adjusted EBITDA of $136.0 million.

Nov 6, 2025, 10:00 PM

Presentation

Evolent (EVH) Exceeds Q3 2025 Expectations, Updates Guidance, and Announces New Contracts

EVH

Earnings

Guidance Update

New Projects/Investments

Evolent (EVH) reported Q3 2025 revenue of $479.5 million and adjusted EBITDA of $39 million, both exceeding expectations.
The company narrowed its full-year 2025 guidance, expecting revenue between $1.87 billion and $1.88 billion and adjusted EBITDA between $144 million and $154 million.
EVH announced new contracts for 2026 go-lives, including a significant Performance Suite oncology contract, contributing to over $550 million in new 2026 revenue and an annualized contract value exceeding $750 million. Total revenue under contract for 2026 is now approximately $2.5 billion.
The sale of Evolent Care Partners is on track to close later this year, with proceeds used to pay down approximately $100 million in debt, reducing annual cash interest by about $10 million.
John Johnson will transition from CFO to Chief Strategy Officer, and Mario Ramos will assume the CFO role on January 1, 2026.

Nov 6, 2025, 10:00 PM

Transcript

Evolent Health Announces Q3 2025 Results and Leadership Changes

EVH

Earnings

CFO Change

Revenue Acceleration/Inflection

Evolent Health reported revenue of $479.5 million and Adjusted EBITDA of $39.0 million for the third quarter ended September 30, 2025.
The company announced more than $500 million in newly-contracted annualized revenue expected to launch in 2026, bringing the preliminary 2026 revenue forecast to $2.5 billion.
For the full year ending December 31, 2025, Evolent Health expects revenue to be in the range of $1.87 billion to $1.88 billion and Adjusted EBITDA between $144 million and $154 million.
Mario Ramos has been appointed as the new Chief Financial Officer, effective January 1, 2026, with John Johnson transitioning to Chief Strategy Officer on the same date.

Nov 6, 2025, 9:21 PM

8-K

Evolent Health Announces Third Quarter 2025 Results and Leadership Changes

EVH

Earnings

Guidance Update

Management Change

Evolent Health reported revenue of $479.5 million and Adjusted EBITDA of $39.0 million for the three months ended September 30, 2025. The net loss attributable to common shareholders for the quarter was $(26.9) million.
The company announced more than $750 million in new annualized revenue expected to launch during 2026, following two new customer agreements in Q3 2025, bringing the year-to-date total to thirteen new contracts.
For the fourth quarter of 2025, Evolent expects revenue in the range of $462 million to $472 million and Adjusted EBITDA between $30 million and $40 million. Full-year 2025 revenue is projected to be $1.87 billion to $1.88 billion, with Adjusted EBITDA between $144 million and $154 million.
Mario Ramos has been appointed as the new Chief Financial Officer, effective January 1, 2026, while John Johnson will transition to Chief Strategy Officer on the same date.

Nov 6, 2025, 9:10 PM

Press Release

Evolent Health Announces Divestiture of Evolent Care Partners and Reaffirms 2025 Financial Outlook

EVH

M&A

Guidance Update

Evolent Health, Inc. (EVH) announced the strategic divestiture of its value-based primary care business, Evolent Care Partners (ECP), to Privia Health Group, Inc. for a total transaction value of up to $113 million.
The transaction includes $100 million at closing and a contingent payment of up to $13 million, with the closing expected in the fourth quarter of 2025.
Proceeds from the divestiture will be used to prepay senior term debt, which is anticipated to improve Evolent's annual free cash flow by more than $7 million.
Evolent reiterated its Q3 2025 Revenue outlook of $460 million to $480 million and Adjusted EBITDA outlook of $34 million to $42 million.
For full year 2025, the company reaffirmed its Revenue outlook of $1.85 billion to $1.88 billion and Adjusted EBITDA of $140 million to $165 million, excluding the impact of the divestiture.

Sep 23, 2025, 8:13 PM

8-K

Evolent Health Announces Divestiture of Evolent Care Partners

EVH

M&A

Guidance Update

Evolent Health, Inc. announced it has agreed to sell its value-based primary care business, Evolent Care Partners (ECP), to Privia Health Group, Inc..
The total transaction value is up to $113 million, with $100 million payable at closing, and is expected to close during the fourth quarter of 2025.
Proceeds from the transaction will be used to prepay senior term debt, which is projected to improve Evolent's annual free cash flow by more than $7 million and reduce interest expense by approximately $10 million.
Evolent reiterated its Q3 2025 outlook for Revenue of between $460 and $480 million and Adjusted EBITDA of $34 and $42 million, and its full-year 2025 outlook for Revenue of $1.85-$1.88 billion and Adjusted EBITDA of $140-$165 million, all excluding the effect of this transaction.

Sep 23, 2025, 8:10 PM

Press Release

Evolent Health, Inc. Issues Convertible Senior Notes

EVH

Debt Issuance

Share Buyback

Evolent Health, Inc. issued $145.0 million principal amount of 4.50% Convertible Senior Notes due 2031, with an option for initial purchasers to buy an additional $21.75 million principal amount.
The notes will mature on August 15, 2031, and will accrue interest at 4.50% per annum, payable semi-annually beginning on February 15, 2026.
The initial conversion price is approximately $13.53 per share, which represents a 50.0% premium over the Class A common stock's closing price of $9.02 per share on August 18, 2025.
The company expects to use approximately $100.2 million of the net proceeds to repurchase approximately $167.4 million aggregate principal of its 1.50% convertible senior notes due 2025, and approximately $40.0 million to repurchase shares of its Class A common stock.

Aug 21, 2025, 12:00 AM

8-K

Evolent Health CFO Discusses Q2 Performance and Outlook

EVH

Guidance Update

New Projects/Investments

Evolent Health outperformed on EBITDA in Q2 and subsequently raised the bottom end of its EBITDA guidance for the year.
The company's revenue guidance for 2025 was adjusted downward primarily due to the timing shift of a large new partnership with Aetna, now expected to go live in Q1 2026 instead of Q3 2025.
Evolent Health maintains a conservative reserving posture for oncology, forecasting a 12% trend for the rest of the year, despite experiencing a lower 10.5% trend so far this year.
The company is confident in achieving or exceeding $2,500,000,000 in revenue for 2026, supported by existing contracts and a robust weighted pipeline.
Evolent Health expects to generate approximately $65,000,000 in cash from operations for the remainder of the year and aims to delever by about one turn per year.

Aug 13, 2025, 2:25 PM

Evolent Health Inc. Announces Q2 2025 Results and Updates 2025 Outlook

EVH

Earnings

Guidance Update

Debt Issuance

For Q2 2025, Evolent Health Inc. reported revenue of $444.3 million and Adjusted EBITDA of $37.5 million, resulting in an Adjusted EBITDA margin of 8.5%. The GAAP net loss attributable to common shareholders was $51.1 million.
The company announced four new revenue arrangements in Q2 2025, bringing the year-to-date total to 11.
As of June 30, 2025, Evolent Health Inc. held $151.0 million in cash and cash equivalents with $62.5 million in revolver availability. The period-end net leverage was 5.3x on LTM Adjusted EBITDA of $128.8 million.
For Q3 2025, the company forecasts revenue between $460 million and $480 million and Adjusted EBITDA between $34 million and $42 million. The full-year 2025 outlook projects revenue from $1.85 billion to $1.88 billion and Adjusted EBITDA from $140 million to $165 million.

Aug 7, 2025, 9:00 PM

Presentation

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