Financial Data and Key Metrics Changes - Evolent reported Q2 2024 revenue of $647.1 million, representing a year-over-year growth of 37.9%, all driven organically [11] - Adjusted EBITDA for the quarter was $52 million, slightly lower than the midpoint of expectations [12] - The company ended the quarter with a cash position of $101 million after an outflow of $89 million for the earn-out to the former owner of NIA [12] Business Line Data and Key Metrics Changes - Specialty Technology and Services revenue was $81.5 million, down $7.5 million sequentially due to Medicaid redetermination and lower one-time quarterly revenue compared to Q1 2024 [23] - Evolent secured four new revenue agreements in Q2, adding over $70 million in new annualized revenue bookings across Performance Suite and Technology and Services [10][12] Market Data and Key Metrics Changes - The company averaged 39.9 million unique members in Q2, with an average of two products deployed per unique member, totaling 79.9 million product members [11] - Medicaid membership declines were approximately 15%, consistent with expectations due to redeterminations [26] Company Strategy and Development Direction - Evolent is focused on enhancing its clinical value proposition and expanding profitability through disciplined capital allocation and operational efficiencies [18][21] - The company aims to achieve a $300 million adjusted EBITDA exit run rate by the end of 2024, with confidence in reaching this target despite current utilization trends [6][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing approximately $60 million in additional revenue on an annualized basis from new rates aligned with partners [7] - The company anticipates that the majority of economic benefits from rate increases will begin in Q3 2024 [7] - Management noted that the impact of Medicaid redeterminations has been largely captured in revenue and earnings through Q2, indicating a positive outlook moving forward [9] Other Important Information - Evolent completed the acquisition of Machinify Technology, which is expected to enhance operational efficiencies and expand product offerings [19][20] - The company is targeting up to $50 million in annualized EBITDA improvement from the Machinify solution in the coming years [21] Q&A Session Summary Question: Visibility on rate increases and mechanisms for future adjustments - Management confirmed alignment with partners on rate increases, with about 60% of the $35 million expected to be formalized soon [38][39] Question: Decision to exit certain markets and revenue impact - The decision was made collaboratively with a payer to narrow the scope due to elevated prevalence and acuity, with no expected impact on adjusted EBITDA [40] Question: Margin maturation for the Performance Suite - Management indicated that the margin maturation includes both initial actuarial conservatism and driving underlying clinical value, with expectations for continued improvement [42][43] Question: Timing of Medicare shared savings and rate increases - Management expects to see a revenue true-up from the Medicare shared savings program in Q3, which is incorporated into guidance [44][45] Question: Cost trends and leading indicators - Management noted that while leading indicators have improved, costs remained elevated, only partially covered by rate increases [51] Question: Automatic triggers in risk-based contracts - Management stated that some contracts have negotiated provisions for automatic rate adjustments, while others require broader discussions [53][54] Question: Machinify technology rollout - The Machinify platform is live and in demand, with significant interest from payers for managing long-tail specialties [67][68]

Evolent Health (EVH) came out with quarterly earnings of $0.30 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.14 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 42.86%. A quarter ago, it was expected that this health care software and consulting services provider would post earnings of $0.21 per share when it actually produced earnings of $0.34, delivering a surprise of 61. ...

Revenue of $647.1 million, an increase of $178.0 million or 37.9%, from the three months ended June 30, 2023. Net loss attributable to common shareholders of Evolent Health, Inc. of $(6.4) million and a net loss margin of (1.0)%. Adjusted EBITDA of $52.0 million resulting in an Adjusted EBITDA margin of 8.0%. Narrows revenue outlook for full year 2024 and provides updated 2024 Adjusted EBITDA guidance. Reiterates confidence in achieving $300 million in Adjusted EBITDA run rate exiting 2024. WASHINGTON, Aug. ...

Evolent Health (EVH) shares soared 12.8% in the last trading session to close at $21.72. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.1% loss over the past four weeks. This health care software and consulting services provider is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $634.18 million, up 35.2% from the year- ...

Company to Participate in Upcoming Conferences Analysts interested in asking questions during the live call should dial 855.940.9467, or 412.317.6034 for international callers, and reference the "Evolent call" 15 minutes prior to the call. Additionally, The Company announced that its executive management team will participate in upcoming investor conferences. About Evolent Seth R. Frank Vice President, Investor Relations Evolent [email protected] 571-895-3919 (W) Shareholders and interested participants may ...

Machinify is a privately held company based in Palo Alto, California. Upon closing, Evolent will be acquiring certain assets and the exclusive license to the Machinify Auth platform. In addition, certain employees of Machinify will be re-badged as Evolent employees upon closing. Lastly, Machinify and Evolent expect to enter into a long-term services agreement at closing to support the development and integration of the platform with Evolent. The acquisition is immaterial to Evolent's revenue outlook and is ...

Evolent Health (EVH) reported $639.65 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 49.6%. EPS of $0.34 for the same period compares to $0.21 a year ago.The reported revenue represents a surprise of +6.33% over the Zacks Consensus Estimate of $601.6 million. With the consensus EPS estimate being $0.21, the EPS surprise was +61.90%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

Financial Data and Key Metrics - Revenue for Q1 2024 totaled $639.7 million, a 49.6% year-over-year growth, exceeding the top end of the Q1 revenue guide of $610 million by almost $30 million [143] - Adjusted EBITDA for Q1 was $54.1 million, in line with the midpoint of the guidance [118] - The company raised the midpoint of its 2024 revenue guidance by $115 million and reiterated its adjusted EBITDA outlook of $235 million to $265 million [33] - Q1 gross margin was 16.4%, down 185 basis points sequentially versus Q4, driven by growth in performance suite products and higher unit medical expenses [156] Business Line Data and Key Metrics - The company signed seven new revenue agreements year-to-date, including three in Q1, with two being with Molina and one with a long-standing Medicaid health plan on the East Coast [4][23][31] - The performance suite risk business saw increased utilization in Q1, with lower data visibility than typical for this point in the year [6] - The company launched 25 Specialty Go Lives across multiple health plan customers for the performance suite and the technology and services suite [4] - The technology and services suite generated Q1 revenue of $89 million, representing underlying year-over-year growth of nearly 25% [10] Market Data and Key Metrics - The company's specialty care offerings now account for 91% of total revenue, up from 60% three years ago, with specialty care revenue growing approximately 69% year-over-year [139] - The company's presence with Molina will increase to nine states after the implementation of new solutions in South Carolina and Mississippi [29] - The company's average unique members in Q1 were 39.9 million, net of Medicaid redeterminations, with total product members eclipsing 80.6 million [28] Company Strategy and Industry Competition - The company is focused on organic growth, expanding profitability, and disciplined capital allocation, with a strong pipeline of new revenue agreements and successful go-lives [23][25] - The company is investing in artificial intelligence and patient navigation solutions to drive efficiency and improve care quality [24][141] - The company believes that the rising utilization environment creates significant opportunities for innovative solutions in specialty care management [121] Management Commentary on Operating Environment and Future Outlook - Management remains confident in the company's ability to drive long-term value creation, citing strong customer confidence and the ability to innovate and execute [9] - The company is taking a conservative approach to Q2 adjusted EBITDA guidance, with a range of $48 million to $62 million, due to lower claims visibility and elevated utilization indicators [13][126] - Management reiterated the 2024 exit run rate adjusted EBITDA target of $300 million and expects to achieve $150 million in cash flow from operations for the year [127][160] Other Important Information - The company successfully wound down the NIA transition services agreement in March, marking an important step towards achieving $15 million of NIA cost synergies [119] - The company announced a strategic partnership with Careology, a UK-based digital cancer care platform, to enhance patient navigation and care quality [141] - The company expects to implement new solutions in South Carolina and Mississippi by Q4 2024, contributing to the $4 million quarterly adjusted EBITDA earnings target [153] Q&A Session Summary Question: How is the macro payer landscape impacting the company's business? [44] - Answer: The macro payer landscape is creating significant pressure on health plans, driving increased interest in the company's specialty management solutions. This has added more opportunities to the sales funnel but may extend the sales cycle in some cases [44][18] Question: Can you provide more details on the contractual protections and rate adjustments? [131] - Answer: Contractual protections allow for rate adjustments based on population changes, with a 3 to 12-month lag. These adjustments are typically retrospective and vary by contract, depending on patient needs and contract structure [20][41] Question: How does the company view the impact of Medicaid redeterminations? [68] - Answer: Medicaid redeterminations have created a cumulative headwind of $5.5 million per quarter to adjusted EBITDA, consistent with expectations. The process is estimated to be over 80% complete as of Q1 2024 [123][68] Question: What is the outlook for gross margins and profitability? [75] - Answer: Gross margins are impacted by the mix between performance suite and tech and services products, with performance suite growth driving lower margins. The company expects gross margins to improve as new go-lives mature and cost efficiencies are realized [75][76] Question: How does the company plan to achieve its $300 million exit run rate adjusted EBITDA target? [82] - Answer: The company plans to achieve this target through performance suite maturation, new growth, and earnings from NIA and IPG. The company is on track to realize $8.75 million in quarterly NIA synergies by year-end [82][159] Question: What is the company's cash flow outlook for 2024? [92] - Answer: The company reaffirmed its expectation of $150 million or more in operating cash flow for the year, with Q1 in line with expectations and cash flow expected to build across the year [83][160]

Evolent Health (EVH) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 61.90%. A quarter ago, it was expected that this health care software and consulting services provider would post earnings of $0.11 per share when it actually produced earnings of $0.23, delivering a surprise of 109. ...

Commission File Number: 001-37415 _________________________ Evolent Health, Inc. (Exact name of registrant as specified in its charter) _________________________ Delaware 32-0454912 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1812 N. Moore Street , Suite 1705 , Arlington , Virginia 22209 (Address of principal executive offices) (Zip Code) (571) 389-6000 Registrant's telephone number, including area code _________________________ Securities registered p ...