UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-K _________________________ (Mark One) S ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR (I.R.S. Employer Identification No.) | 800 N. Glebe Road | , Suite 500 , | Arlington | , | Virginia | 22203 | | --- | --- | --- | --- | --- | --- | | | (Address of principal executive offices) | | | | (Zip Code) | For the transition ...

Financial Data and Key Metrics Changes - Revenue for Q4 2022 was $382.4 million, a growth of 54% compared to the same period in 2021, with base business growth at 39% after excluding $37 million of acquired revenue [47] - Adjusted EBITDA for Q4 2022 totaled $32.3 million, representing a 33% increase year-over-year [47] - For the full year 2022, total revenue reached $1.352 billion, a growth of 49%, while adjusted EBITDA was $106.3 million, reflecting a 60% annual growth [47] Business Line Data and Key Metrics Changes - Clinical Solutions segment revenue grew 35% to $281.5 million in Q4 2022, with adjusted EBITDA of $26.7 million, a slight decline compared to the previous year [54] - Evolent Health Services revenue increased 16% to $101 million in Q4 2022, with adjusted EBITDA rising to $16.1 million from $7.9 million in the prior year [92] - The Performance suite added over 1.8 million lives during 2022, significantly increasing pricing from an average fee of $0.29 PMPM on technology and services to approximately $26 PMPM on the performance suite [48] Market Data and Key Metrics Changes - The company ended 2022 with 20.6 million lives, an organic growth of approximately 3 million lives from the prior year [60] - The average PMPM fee for the Performance suite was $25.78, down from $32.33 a year ago, attributed to higher growth in Medicaid and commercial lines of business [54] Company Strategy and Development Direction - The company aims to reach a $300 million annual run rate adjusted EBITDA by the end of 2024, focusing on organic growth, expanding margins, and optimal capital allocation [87] - The strategy includes moving from technology and services arrangements into the Performance suite to drive value for patients and health plan partners [8] - The acquisition of NIA is expected to contribute significantly to revenue and adjusted EBITDA, reinforcing the balanced approach between technology services and performance suite business models [50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving financial objectives and highlighted the importance of execution in driving growth [28] - The company anticipates a reduction in Medicaid membership by 8% to 10% by the end of the year, primarily impacting top-line revenue but not significantly affecting the bottom line [5] - Management noted that the integrated platform approach is resonating well with customers, indicating a positive outlook for future partnerships and expansions [10] Other Important Information - The company plans to consolidate operations into a single reportable segment starting Q1 2023, which will affect how adjusted EBITDA is tracked [70] - The employee engagement score was approximately 90% in 2022, indicating a strong cultural health and productivity within the workforce [84] Q&A Session Summary Question: Can you provide details on the new Performance suite agreement within Evolent Care Partners? - The agreement involves a couple of thousand lives and is expected to generate around $15 million annually, with potential to expand to $50 million with other Medicare Advantage partners [98] Question: How do you expect the cadence of synergies from the NIA integration to progress? - The integration is expected to proceed smoothly, with synergies being realized as the year progresses [80] Question: Can you elaborate on the Humana expansion and its potential? - The expansion includes two states, with significant revenue potential exceeding $250 million in 2024, and lays groundwork for further state expansions [83]

Financial Data and Key Metrics Changes - Evolent Health's total revenue for Q3 2022 was $352.6 million, representing a growth of approximately 58.5% year-over-year [8] - Year-over-year organic revenue growth was approximately 49%, excluding the two-month contribution from IPG [8] - Adjusted EBITDA for Q3 totaled $28.1 million, an increase of $14.3 million or over 100% compared to the previous year [8][9] - The company achieved positive net income for the first time, marking an important milestone in its maturation [27] Business Line Data and Key Metrics Changes - Clinical Solutions revenue grew 53.7% to $245.3 million, up from $159.6 million in the same period last year [35] - Evolent Health Services revenue increased 70.8% to $107.3 million, up from $62.9 million in Q3 2021 [38] - Membership in Evolent Health Services for the Performance Suite was 2.1 million, compared to 1.6 million in Q3 2021, with a PMPM fee of $16.41 versus $13.19 [38] Market Data and Key Metrics Changes - The company ended Q3 with 19.5 million lives managed, a growth of 32% from 14.7 million a year ago [10] - The PMPM fee for Clinical Solutions was $27.02, down from $34.16 in the previous year, driven by a mix shift towards Medicaid and commercial members [36] - Lives on the Technology & Services suite increased to 14.9 million from 11.7 million year-over-year, with a PMPM fee of $0.29 versus $0.36 [36] Company Strategy and Development Direction - Evolent's core operating priorities include strong organic growth, expanding margins, and optimal capital allocation [14] - The company is focused on value-based care, which aligns incentives across the healthcare system [12] - Evolent aims to deepen its capabilities in value-based specialty operations and strategy through leadership enhancements [44][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the underlying value of their model to drive earnings growth despite challenges from the pandemic [30] - The company sees significant opportunities in the value-based care landscape, with less than 7% of primary care revenues linked to value-based arrangements [12][13] - Evolent is well-positioned for future growth, with a diversified pipeline of opportunities across various health plans [49][85] Other Important Information - The acquisition of IPG closed in August, and integration is progressing well, allowing for cross-sells and new logo conversions [24] - The company ended the quarter with $156.8 million in cash, with expectations of being cash flow positive in Q4 [40] - Evolent's capital allocation strategy focuses on investing in innovation, strategic M&A, and maintaining a disciplined balance sheet [20] Q&A Session Summary Question: Expectations for revenue contribution from new partnerships - The expanded Molina partnership is expected to contribute between $35 million and $40 million of run rate revenue, going live in the first half of next year [48] Question: Recent changes for MSSP implications - The new MSSP rule is seen as generally positive, with adjustments expected to improve future shared savings calculations [51] Question: Insights on Molina's partnership and state engagement - When entering a state, not all lives are managed initially, but there are opportunities for future growth [54] Question: Impact of Medicaid mix on PMPM - The decline in PMPM is attributed to a mix shift towards Medicaid, which has a lower prevalence of certain diseases [57] Question: Cost savings from operations in the Philippines - The company views the opportunity to expand operations in the Philippines as meaningful over a multiyear span [60] Question: Outlook for full capitation relationships - There are ongoing conversations regarding full capitation arrangements, particularly in Medicare Advantage plans [62] Question: Bundled approach in go-to-market strategy - Evolent is adopting a more bundled approach to selling multiple offerings as one contract, which aligns with payer preferences [66] Question: EBITDA guidance and growth trajectory - The company reaffirms its mid-teen EBITDA margin target for 2024, with expectations for continued organic revenue growth [81]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) S QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37415 _________________________ | --- | --- | --- | --- | --- | --- | | ...

Evolent Health, Inc. (NYSE:EVH) Q2 2022 Earnings Conference Call August 2, 2022 5:00 PM ET Company Participants Seth Frank - Vice President, Investor Relations Seth Blackley - Chief Executive Officer John Johnson - Chief Financial Officer Conference Call Participants Ryan Daniels - William Blair Sean Dodge - RBC Capital Markets Anne Samuel - JPMorgan Sandy Draper - Guggenheim David Larsen - BTIG Jessica Tassan - Piper Sandler Richard Close - Canaccord Genuity Charles Rhyee - Cowen Operator Good evening and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) S QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37415 _________________________ | --- | --- | --- | --- | |----------------- ...

| --- | --- | |--------------------------------------------------------|-------| | | | | | | | | | | Evolent Health First Quarter 2022 Results May 4, 2022 | | | | | | 0 | | 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 not a historical fact and, without limit ...

Financial Data and Key Metrics Changes - Evolent Health reported total revenue of $297.1 million for Q1 2022, representing a 38% increase compared to Q1 2021 [5][19] - Adjusted EBITDA for Q1 2022 was $24.3 million, reflecting a 63% growth year-over-year, with an adjusted EBITDA margin expansion of 130 basis points to 8.2% [5][19] - The company exceeded its revenue outlook range for the quarter, which was $280 to $295 million, and delivered at the high end of its adjusted EBITDA outlook of $20 million to $25 million [5][19] Business Line Data and Key Metrics Changes - Revenue from Clinical Solutions increased by 46.1% to $190.2 million, driven by same-store sales and new client growth [19] - Evolent Health Services revenue grew by 25.9% to $106.9 million, supported by new client go-lives, including the addition of approximately 330,000 Bright HealthCare lives [21] - Membership in the Performance suite for Clinical Solutions was 1.5 million, with a PMPM fee of $38.07, up from $26.32 in the prior year [20] Market Data and Key Metrics Changes - The company ended the quarter covering 20.3 million lives across all platforms, a 74% increase from 11.6 million a year ago [6][18] - The growth was primarily driven by New Century Health and Evolent Care Partners, which together constitute the Clinical Solutions segment [6] - The PMPM fee for the Technology and Services suite decreased slightly to $0.38 from $0.43 in the prior year [21] Company Strategy and Development Direction - Evolent Health focuses on three core operating priorities: strong organic growth, expanding margins, and optimal capital allocation [8][14] - The company aims to drive innovation through internal development, accretive M&A, and strategic partnerships [26][39] - Evolent sees significant opportunities for growth in oncology, cardiology, and musculoskeletal services, responding to customer demand for expanded capabilities [41][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong revenue growth and margin expansion, driven by the Clinical Solutions segment [13][19] - The macro environment is viewed as a tailwind for growth, with increased urgency for health plans to drive quality care while lowering costs [12][18] - The company raised its revenue guidance for the year to a range of $1.16 to $1.21 billion and adjusted EBITDA to between $85 and $95 million [23] Other Important Information - Evolent Health's cash position at the end of the quarter was $210.2 million, with $156.3 million available after accounting for cash held in regulated accounts [22] - The company anticipates continued strong performance in the second quarter, with adjusted revenue forecasted at $290 million to $305 million [23] Q&A Session Summary Question: Can you discuss the Oncology Care Partners relationship and its financial relevance for 2022? - Management indicated that the relationship is part of their innovation strategy and is not expected to have a significant short-term financial impact [26][28] Question: What are the growth opportunities with existing clients? - Management highlighted the potential for upselling existing clients to the Performance suite, which could lead to significant revenue increases [33][34] Question: How do you view the impact of potential recession on your pipeline? - Management believes that the core dynamics of managing care will remain stable regardless of economic conditions, although they are monitoring the situation [75][72] Question: What is the expected impact of Medicaid redeterminations? - Management expects a slow ramp in membership rolling off due to redeterminations, with minimal impact on overall guidance [60][61] Question: Can you provide details on the performance fees recognized in the quarter? - Performance fees were recognized based on savings driven relative to benchmarks, contributing to the top-line beat [67][68]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) S QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37415 _________________________ | --- | --- | --- | --- | --- | --- | |---- ...

| --- | --- | |---------------------------------------------------------------|-------| | | | | | | | | | | Evolent Health Fourth Quarter 2021 Results February 23, 2022 | | | | | | | | 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 not a historical fact and, w ...