Evolent Health (EVH) Reports Q2 Earnings: What Key Metrics Have to Say

Core Insights - Evolent Health reported a revenue of $647.15 million for the quarter ended June 2024, marking a 37.9% increase year-over-year and exceeding the Zacks Consensus Estimate by 2.04% [1] - The company's EPS was $0.30, up from $0.14 in the same quarter last year, resulting in a surprise of 42.86% over the consensus estimate of $0.21 [1] Financial Performance Metrics - Average PMPM Fees / Revenue per Case - Performance Suite: $22.30, surpassing the average estimate of $21.16 [3] - Average PMPM Fees / Revenue per Case - Specialty Technology and Services Suite: $0.38, matching the average estimate [3] - Average PMPM Fees / Revenue per Case - Administrative Services: $15.97, exceeding the average estimate of $14.93 [3] Additional Performance Metrics - Average PMPM Fees / Revenue per Case - Cases: $2,849, above the average estimate of $2,758.50 [4] - Average Lives on Platform / Cases - Performance Suite: 6.9 million, below the average estimate of 7.11 million [4] - Average Lives on Platform / Cases - Specialty Technology and Services Suite: 71.7 million, below the average estimate of 72.78 million [4] - Average Lives on Platform / Cases - Administrative Services: 1.27 million, slightly above the average estimate of 1.24 million [4] Revenue Breakdown by Product Type - Total Revenue by product type - Performance Suite: $461.60 million, exceeding the average estimate of $451.34 million [6] - Total Revenue by product type - Cases: $43.26 million, above the average estimate of $42.74 million [6] - Total Revenue by product type - Administrative Services: $60.77 million, surpassing the average estimate of $55.70 million [6] - Total Revenue by product type - Specialty Technology and Services Suite: $81.52 million, below the average estimate of $82.95 million [6] Stock Performance - Evolent Health shares have returned +6.4% over the past month, contrasting with the Zacks S&P 500 composite's -4.5% change [7] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [7]