Evolent Health, Inc · NYSE:EVH
Evolent Health — Bank of America Conference 2021
14 slides from Evolent Health's conference presentation, May 13, 2021
Slide 1: Bank of America Conference: Evolent Health
Confidential – Do Not Distribute0 Bank of America Conference: Evolent Health May 13, 2021 Exhibit 99.1
Slide 2: Safe Harbor Statement
Confidential – Do Not Distribute1 Safe Harbor Statement Certain statements in this presentation 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
Slide 3: Introductory Note
Confidential – Do Not Distribute2 As a convenience to investors who may wish to consider the impact of the segment reporting changes we implemented commencing with the first quarter of 2021, and the impact of Passport and Lighthouse health plan assets we divested during 2020 and 2021, we are providi
Slide 4: Q1 Highlights
Confidential – Do Not Distribute3 • Q1 revenue growth of 29% y/y excluding revenue from divested assets1 • Continued momentum in the pipeline o Four new partnerships announced YTD vs. goal of 6-8 for 2021 o Opened up risk-bearing PCP segment for NCH o Strong operational and clinical performance acro
Slide 5: Enterprise Top Line Performance
Confidential – Do Not Distribute4 Enterprise Top Line Performance STRONG REVENUE GROWTH MULTIPLE GROWTH CHANNELS ✓New Partnerships – 4 announced YTD vs. 2021 target of 6-8 ✓Expansion with current partners – 2mm lives added to New Century Health Technology & Services Suite in Q1 ✓Cross-sell with curr
Slide 6: New Segments for 2021
Confidential – Do Not Distribute5 CLINICAL SOLUTIONS Improving clinical quality and lowering cost • New Century Health: Oncology and Cardiology Specialty Management o “Performance Suite”: Specialty Capitation and other Performance-Based Arrangements o “Tech & Services Suite”: Fee-based services • Ev
Slide 7: Enterprise Bottom Line Performance
Confidential – Do Not Distribute6 Enterprise Bottom Line Performance CONTINUED GROWTH $4.7 $24.0 $34.7 $48.6 $59.6 1Q20 2Q20 3Q20 4Q20 1Q21 TTM Total Adjusted EBITDA ($MM) On track towards target of achieving mid- teens adj EBITDA margin in 2024 via 200- 300 bps annual improvement SOURCES OF MARGIN
Slide 8: Clinical Solutions Growth – Revenue and Customer Maturity
Confidential – Do Not Distribute7 $185.4 $224.4 $407.6 $521.3 $- $100 $200 $300 $400 $500 $600 2018 PF 2019 2020 Q1 2021 Annualized Clinical Solutions Segment Revenue Excluding Divested Assets ($MM) Clinical Solutions Growth – Revenue and Customer Maturity 41% CAGR ✓ Strong growth driven by ongoing
Slide 9: Appendix
Confidential – Do Not Distribute8 Appendix
Slide 10: Non-GAAP Financial Measures
Confidential – Do Not Distribute9 Non-GAAP Financial Measures In addition to disclosing financial results that are determined in accordance with GAAP, we present and discuss Total Revenue Excluding Divested Assets and Net Debt Compared to TTM EBITDA, which are non-GAAP financial measures, as supplem
Slide 11: Appendix A – Adjusted EBITDA Reconciliation
Confidential – Do Not Distribute10 Appendix A – Evolent Health, Inc. Adjusted EBITDA Reconciliation TTM Ended ($ in millions) Q1 2021 3/31/2021 12/31/2020 9/30/2020 6/30/2020 3/31/2020 Net loss attributable to common shareholders of Evolent Health, Inc. $(9.8) $(265.3) $(334.2) $(517.7) $(505.9) $(3
Slide 12: Appendix B – Quarterly Revenue Excluding Divested Assets
Confidential – Do Not Distribute11 Appendix B – Quarterly Revenue Excluding Divested Assets ($ in millions) Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Transformation revenue $3.4 $1.9 $5.2 $4.7 $5.2 $0.8 $4.8 $1.2 $0.3 Platform and operations revenue 150.4 147.8 174.8 19
Slide 13: Appendix C – Clinical Services Revenue Excluding Divested Assets
Confidential – Do Not Distribute12 Appendix C – Clinical Services Revenue Excluding Divested Assets ($ in millions) Q1 2021 Annualized 2020 2019 2018 Total clinical services revenue $520.9 $542.7 $279.5 $185.4 Less: Divested assets 0.1 134.9 55.1 - Total clinical services revenue excluding divested
Slide 14: Appendix D – Net Debt to TTM Adjusted EBITDA
Confidential – Do Not Distribute13 Appendix D – Net Debt to March 31, 2021 TTM Adjusted EBITDA ($ in millions) 3/31/2021 Principal amounts of short-term and long-term debt 2021 Notes $26.7 2024 Notes 117.1 2025 Notes 172.5 Subtotal 316.3 Less: Net cash and cash equivalent excluding amounts related t