Evolent Health, Inc · NYSE:EVH
Evolent Health — Q4 2017 Earnings Presentation
14 slides from Evolent Health's earnings presentation, Feb 27, 2018
Slide 1: Evolent Health Overview February 2018
0 EVOLENT HEALTH OVERVIEW February 2018
Slide 2: Safe Harbor Statement
1 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 statement is a statement that i
Slide 3: Non-GAAP Financial Measures
2 Non-GAAP Financial Measures In addition to disclosing financial results that are determined in accordance with GAAP, we present and discuss Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Revenue, Adjusted Transformation Revenue, Adjusted Platform and Operations Revenue, Adjusted Cost of Revenue
Slide 4: Evolent Health: what we do
3 $40.3 $100.9 $163.5 $256.3 $436.4 2013 2014 2015 2016 2017 1 Non-GAAP measure, see “Non-GAAP Financial Measures” above for definition and Appendix A below for reconciliation to GAAP. GAAP revenues in 2013, 2014, 2015, 2016 and 2017 $25.7M, zero, $96.9M, $254.2M and $435.0M respectively. Evolent He
Slide 5: Continued Strong Performance in 2017
4 Sustained adjusted revenue growth period-over-period1 (in millions) Strong Revenue Growth CAGR: 27% Q4 20171 Q4 20161 $90M $114M 1 Non-GAAP measure; see “Non-GAAP Financial Measures” above for the definition and Appendix A below for reconciliation to GAAP. GAAP revenues in Q4 2016 and Q4 2017 were
Slide 6: Evolent is Active Across all Segments of the Growing Market
5 Medicaid, 49% Commercia l (Payer Partnership s, Employee, ASO, Individual, Group), 30% [CATEGOR Y NAME], [VALUE] Sources: Evolent Health Evolent is Active Across all Segments of the Growing Market Lives by Segment as of 31-Dec-17 2.7M+ 30+ partners as of 27-Feb-18 Continued Growth in Lives CAGR: 3
Slide 7: Strong Recent Partner Additions
6 Strong Recent Partner Additions MEDICAID COMMERCIAL MEDICARE
Slide 8: 2018 Guidance: Full Year
7 Financial Metrics1 Full Year 2018 Adjusted Services Revenue $495 - $510 million True Health Premium Revenue $90 - $95 million Intercompany Eliminations ($20 million) Adjusted Revenue $565 - $585 million Adjusted EBITDA2 $18 - $23 million Adjusted EBITDA Margin 3.2% - 3.9% 1 Non-GAAP measures, see
Slide 9: 2018 Guidance: Q1 2018
8 Financial Metrics1 Q1 2018 Adjusted Services Revenue $122 - $124 million True Health Premium Revenue $22 - $24 million Intercompany Eliminations ($5 million) Adjusted Revenue $139 - $143 million Adjusted EBITDA2 $3 - $5 million Adjusted EBITDA Margin 2.2% - 3.5% 2018 Guidance: Q1 2018 1 Non-GAAP m
Slide 10: Appendix
9 APPENDIX
Slide 11: Appendix A: Non-GAAP Reconciliation
10 For the years ended December 31, 2017, 2016, 2015, 2014 and 2013: Appendix A: Non-GAAP Reconciliation Evolent Health, Inc. Adjusted Revenue (1) We recorded deferred revenue adjustments of approximately $0.2 million and $2.0 million to transformation revenue and platform and operations revenue for
Slide 12: Appendix B: Reconciliation of Adjusted EBITDA to Net Income (Loss)
11 Appendix B: Reconciliation of Adjusted EBITDA to Net Income (Loss) Attributable to Evolent Health, Inc. (in thousands) For the Three For the Years Months Ended Ended December 31, December 31, 2017 2016 2017 2016 Net Income (Loss) Attributable to Evolent Health, Inc. (13,160)$ (17,407)$ (60,665)$
Slide 13: Appendix C: Guidance Reconciliation
12 Appendix C: Guidance Reconciliation (in thousands) For the Three For the Twelve Months Ended Months Ended March 31, December 31, 2018 2018 Services Revenue 121,000$ 495,500$ Purchase Accounting Adjustments 2,000 7,000 Adjusted Services Revenue 123,000 502,500 True Health Premium Revenue 23,000 92
Slide 14: N Glebe Rd, Suite • Arlington, VA 22203 • evolenthealth.com
13 800 N Glebe Rd, Suite 500 • Arlington, VA 22203 • evolenthealth.com