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Evolent Health (EVH)
NYSE:EVH
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.04Last Year’s EPS
0.06Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mixed but constructive picture: strong top-line growth prospects (mid-2026 revenue growth target ~30%), large new Performance Suite contracts (including a significant Highmark engagement), solid 2025 MER improvement and realized cost/AI savings support long-term margin tailwinds. However, near-term headwinds are meaningful — conservative reserving for new launches (new cohort at ~103% MER), a $40M exchange-related revenue/EBITDA hit from regulatory/market shifts, administrative churn and limited free cash flow in 2026. Management emphasized that 2026 adjusted EBITDA will be back-end weighted and articulated a clear path to improved margins and cash flow as contracts mature, supporting a balanced long-term outlook despite near-term pressure.Company Guidance
Q4 2025 Revenue and EBITDA Beat
Q4 revenue of $469 million and adjusted EBITDA of $37.8 million, which exceeded the midpoint of guidance.
Full-Year 2025 Baseline Results
After adjusting for the ACO divestiture, baseline FY2025 revenue was $1.77 billion and adjusted EBITDA would have been approximately $141 million.
Ambitious 2026 Revenue Growth Outlook (~30%)
Company is forecasting approximately 30% revenue growth for 2026 with $2.4–$2.6 billion guidance (midpoint ~$2.5B).
Large New Performance Suite Cohort ($900M)
2026 Performance Suite launches expected to generate approximately $900 million of revenue (37% of 2026 revenue), an increase from a prior estimate of $550 million, driven by membership shifts and scope expansion.
Oncology as Core Growth Driver (65% of Revenue)
Evolent expects roughly 65% of company revenue from oncology in 2026, up from 36% in 2025 — signaling rapid concentration and growth in the oncology product.
High Retention and Contract Migration to Enhanced Model
Retained specialty T&S logos covering over 98% of 2025 revenue; ~90% of Performance Suite revenue now under the enhanced Performance Suite model; signed major new customers including Highmark (go-live May 1) expected to contribute >$550M in 2026 and >$800M in 2027.
MER Improvement in 2025 vs 2024
2025 medical expense ratio (MER) was 89% (excluding ECP), an improvement of just under 700 basis points versus 2024, attributed to pathway management and physician engagement.
Efficiency and AI Savings
Exceeded the previously announced $20 million annualized Q4 2025 savings; targeting ~ $50 million of efficiency savings in 2026 (including $20 million realized in 2025) and additional SG&A/AI/automation reductions; non-claims expense base expected to be ~$675M in 2026, ~ $90M lower than 2025 (includes $40M from divestiture and ~$50M efficiencies).
Balance Sheet and Net Debt Position
Ended the year with net debt of $782 million, below the expected range of $805M–$840M, and no debt maturities until late 2029.
Operational and Clinical Wins
AI-driven auto-authorization improvements (chest CT +11 points; cervical spine MRI +16 points) and a Blue Cross partner reported ~40% reduction in hospitalizations and ER visits from the new cancer navigation solution.
EVH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
EVH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 24, 2026 | $2.56 | $3.14 | +22.66% |
Nov 06, 2025 | $6.00 | $4.96 | -17.33% |
Aug 07, 2025 | $9.69 | $9.00 | -7.12% |
May 08, 2025 | $10.78 | $9.05 | -16.05% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Evolent Health (EVH) report earnings?
Evolent Health (EVH) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Evolent Health (EVH) earnings time?
Evolent Health (EVH) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EVH EPS forecast?
EVH EPS forecast for the fiscal quarter 2026 (Q1) is -0.04.