NYSE$EVH
Evolent Health Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Evolent Health's Q1 2024 financial results were announced, demonstrating revenue growth and strategic advancements.
Evolent Health reported a 49.6% increase in revenue to $639.7 million for Q1 2024. The company is raising its revenue outlook for the full year 2024 and reiterating its full year Adjusted EBITDA guidance. The net loss attributable to common shareholders was $(25.2) million, with an Adjusted EBITDA of $54.1 million.
- Revenue increased by 49.6% to $639.7 million compared to Q1 2023.
- Net loss attributable to common shareholders was $(25.2) million.
- Adjusted EBITDA reached $54.1 million, with a margin of 8.5%.
- The company raised its revenue outlook for the full year 2024 and reiterated its full year Adjusted EBITDA guidance.
Headline financials
Revenue & EPS history
Evolent Health · Revenue · Quarterly
$640M
Revenue by segment
Evolent Health · $92.7M total across 3 segments · Q3 2023
- Cases$37.4M—40.3%
- Performance Suite$32.8M—35.4%
- Administrative Services$22.5M—24.3%
Forward guidance
For Q2 2024, revenue is expected to be in the range of $625.0 million to $645.0 million, and Adjusted EBITDA is expected to be in the range of $48.0 million to $62.0 million. For the full year 2024, revenue is expected to be in the range of $2.53 billion to $2.60 billion, and Adjusted EBITDA is expected to be in the range of $235.0 million to $265.0 million.
Tailwinds
- Revenue is expected to be in the range of approximately $625.0 million to $645.0 million for Q2 2024.
- Adjusted EBITDA is expected to be in the range of approximately $48.0 million to $62.0 million for Q2 2024.
- Revenue is expected to be in the range of approximately $2.53 billion to $2.60 billion for the year ending December 31, 2024.
- Adjusted EBITDA is expected to be in the range of approximately $235.0 million to $265.0 million for the year ending December 31, 2024.
- Net cash provided by operating activities is expected to exceed $150 million for the year ending December 31, 2024.
Headwinds
- The wide range for its second quarter outlook for Adjusted EBITDA is driven by higher leading indicator volume in certain Performance Suite contracts in Q1.
- Lower claims visibility from partners in part due to the Change Healthcare cyber-attack.
- These variables resulted in increased conservatism for Q2 guidance.
- Uncertainty in the health care regulatory framework, including the potential impact of policy changes.
- Increasing inflationary pressures and economic and business conditions and the impact thereof on the economy resulting from public health emergencies, epidemics, pandemics or contagious diseases.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+2.2%
Avg return
Earnings day
+1.2%
Avg return
5 days after
-1.9%
Avg return
30 days after
65%
32 / 49 earnings
Positive
+29.2%
Q2 2024
Best reaction
-46.1%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +11.5% | +8.6% | +9.9% | |
| Q4 2025 | +25.0% | +39.8% | -13.7% | |
| Q3 2025 | -17.5% | -25.8% | -34.3% | |
| Q1 2025 | -16.2% | -17.1% | -22.7% | |
| Q4 2024 | -2.6% | -11.8% | -10.6% | |
| Q3 2024 | -46.1% | -41.7% | -55.0% | |
| Q2 2024 | +29.2% | +28.5% | +49.3% | |
| Q1 2024 | -10.3% | -12.5% | -13.9% | |
| Q4 2023 | +13.8% | +14.1% | +8.3% | |
| Q3 2023 | +13.5% | +18.4% | +20.4% | |
| Q2 2023 | -7.5% | -4.6% | -14.2% | |
| Q1 2023 | -4.3% | -0.9% | -11.4% | |
| Q4 2022 | +9.1% | +9.0% | -4.4% | |
| Q3 2022 | -10.8% | -22.4% | -1.2% | |
| Q2 2022 | +4.9% | +2.7% | +6.2% | |
| Q1 2022 | +0.9% | -8.5% | +4.0% | |
| Q4 2021 | +13.9% | +16.4% | +34.8% | |
| Q3 2021 | +3.4% | +0.3% | -10.4% | |
| Q2 2021 | +3.5% | +2.9% | +13.5% | |
| Q1 2021 | +8.2% | +11.7% | +5.2% | |
| Q4 2020 | -3.1% | -6.9% | -0.9% | |
| Q3 2020 | +6.9% | +15.3% | +41.0% | |
| Q2 2020 | +8.3% | +8.8% | +13.7% | |
| Q1 2020 | +12.6% | +11.4% | -1.6% | |
| Q4 2019 | -13.7% | -18.2% | -48.0% | |
| Q3 2019 | +16.3% | +29.7% | -14.4% | |
| Q2 2019 | +9.3% | +17.2% | +13.4% | |
| Q1 2019 | -1.3% | +0.9% | -34.6% | |
| Q4 2018 | -3.5% | -8.8% | -14.2% | |
| Q3 2018 | +14.5% | +10.8% | -8.5% | |
| Q2 2018 | +1.4% | +5.0% | +17.2% | |
| Q1 2018 | +8.4% | +12.8% | +36.4% | |
| Q4 2017 | +1.0% | +5.5% | -1.7% | |
| Q3 2017 | -13.4% | -27.5% | -16.0% | |
| Q2 2017 | -17.6% | -23.7% | -25.9% | |
| Q1 2017 | +3.3% | +5.0% | +14.2% | |
| Q4 2016 | +5.7% | +1.2% | +8.0% | |
| Q3 2016 | -3.1% | -9.7% | -13.9% | |
| Q2 2016 | +3.8% | +9.6% | +3.1% | |
| Q1 2015 | +0.7% | — | — | |
| Q1 2016 | +14.5% | — | — | |
| Q4 2013 | +3.9% | — | — | |
| Q1 2014 | +3.9% | — | — | |
| Q2 2015 | +3.9% | — | — | |
| Q4 2015 | +14.6% | — | — | |
| Q3 2014 | +12.0% | — | — | |
| Q3 2015 | +11.8% | — | — | |
| Q2 2014 | -8.5% | — | — | |
| Q4 2014 | -8.5% | — | — |
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