Evolent Health, Inc · NYSE:EVH
Evolent Health — Q1 2025 Earnings Presentation
12 slides from Evolent Health's earnings presentation, May 8, 2025
Slide 1: Evolent Health, Inc. First Quarter 2025 Results
Evolent Health, Inc. First Quarter 2025 Results May 8, 2025 CONTACT: investorrelations@evolent.com 1 Confidential – Do Not Distribute
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements made in this report and in other written or oral statements made by us or on our behalf are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). A forward-looking statement is a statement that is n
Slide 3: Evolent Q1 Highlights
Evolent Q1 Highlights • Revenue of $483.6 million exceeded expectations. Relative to Q1 2024, revenue declined by $156M principally as a result of previously-disclosed contracting changes, including transitioning one Performance Suite contract to the Technology & Services Suite, and the narrowing of
Slide 4: 2025 Financial Outlook: Full Year Unchanged
2025 Financial Outlook1: Full Year Unchanged 2025 Full Year (Unchanged) Low End High End Revenue $2.06 billion $2.11 billion Adjusted EBITDA1 $135 million $165 million Cash deployed to capitalized $35 million $35 million software development Q2 2025 Low End High End Revenue* $440 million $470 millio
Slide 5: Supplemental Information and Appendices
Supplemental Information and Appendices 5 Confidential – Do Not Distribute
Slide 6: Capital Structure Metrics
Capital Structure Metrics (In thousands) Sequential Year over Year Q1 2025 Q4 2024 Change Q1 2024 Change Cash and cash equivalents $ 246,547 $ 104,203 $ 142,344 $ 164,038 $ 82,509 Revolving credit availability 62,500 62,500 — 37,500 25,000 Total available liquidity $ 309,047 $ 166,703 $ 142,344 $ 20
Slide 7: Volume and Pricing Metrics
Volume and Pricing Metrics1 Evolent Quarterly Business Drivers Average Lives on Platform/Cases (in thousands) Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Performance Suite 6,486 7,145 6,916 6,901 7,050 Specialty Technology and Services Suite 77,079 75,161 74,192 71,701 72,302 Administrative Services 1,2
Slide 8: Reserve for Claims and Performance-Based Arrangements
Reserve for Claims and Performance - Based Arrangements ($ in thousands) 3 YTD Q1 2025 YTD Q1 2024 Balance, beginning of period $318,705 $404,048 Incurred health care costs: Current year to date period 219,346 374,879 Prior year to date period (13,354) (15,186) Total claims incurred 205,992 359,693
Slide 9: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to disclosing financial results that are determined in accordance with GAAP, we present and discuss certain non-GAAP financial measures, as supplemental measures to help investors evaluate our fundamental operational performance. Net Debt is defined as the car
Slide 10: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) The Company views the following activities as integral to understanding its non-GAAP financial measures: Repositioning costs include but are not limited to severance, termination benefits and related payroll taxes, dedicated employee costs, and third-party pro
Slide 11: How We Calculate Business Drivers: PMPM, Lives and Cases
How We Calculate Business Drivers: PMPM, Lives and Cases • Performance Suite: consists of the average monthly membership over the period for the Company’s risk-based solutions for oncology, cardiology and Evolent Care Partners. • Specialty Technology and Services Suite consists of the average monthl
Slide 12: Appendix A – Evolent Health, Inc. Adjusted EBITDA Reconciliation
Appendix A – Evolent Health, Inc. Adjusted EBITDA Reconciliation ($ in thousands) Q1 2025 Q1 2024 LTM Q1 2025 LTM Q1 2024 Net loss attributable to common shareholders of Evolent Health, Inc. $ (72,250) $ (25,225) $ (140,479) $ (141,227) Net loss margin (14.9) % (3.9) % (5.9) % (6.5) % Less: Interest