Evolent Health, Inc. — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that Evolent Health, Inc. filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2023 | Dec 31, 2023 | $556.06M | Feb 23, 2024 |
| FY2023 | Sep 30, 2023 | $511.02M | Feb 23, 2024 |
| FY2023 | Jun 30, 2023 | $469.14M | Feb 23, 2024 |
| FY2023 | Mar 31, 2023 | $427.69M | Feb 23, 2024 |
| FY2023 | Dec 31, 2022 | $382.43M | Feb 23, 2024 |
| FY2023 | Sep 30, 2022 | $352.59M | Feb 23, 2024 |
| FY2023 | Jun 30, 2022 | $319.94M | Feb 23, 2024 |
| FY2023 | Mar 31, 2022 | $297.06M | Feb 23, 2024 |
| FY2022 | Dec 31, 2021 | $248.36M | Feb 24, 2023 |
| FY2022 | Sep 30, 2021 | $222.47M | Feb 24, 2023 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $468.72M | Feb 25, 2026 |
| FY2025 | Sep 30, 2025 | $479.53M | Feb 25, 2026 |
| FY2025 | Jun 30, 2025 | $444.33M | Feb 25, 2026 |
| FY2025 | Mar 31, 2025 | $483.65M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $646.54M | Feb 25, 2026 |
| FY2025 | Sep 30, 2024 | $621.40M | Feb 25, 2026 |
| FY2025 | Jun 30, 2024 | $647.15M | Feb 25, 2026 |
| FY2025 | Mar 31, 2024 | $639.65M | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | $556.06M | Feb 21, 2025 |
| FY2024 | Sep 30, 2023 | $511.02M | Feb 21, 2025 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($429.13M) | Feb 25, 2026 |
| FY2025 | Sep 30, 2025 | ($20.86M) | Feb 25, 2026 |
| FY2025 | Jun 30, 2025 | ($19.90M) | Feb 25, 2026 |
| FY2025 | Mar 31, 2025 | ($64.62M) | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | ($22.80M) | Feb 25, 2026 |
| FY2025 | Sep 30, 2024 | ($23.14M) | Feb 25, 2026 |
| FY2025 | Jun 30, 2024 | $1.60M | Feb 25, 2026 |
| FY2025 | Mar 31, 2024 | ($17.28M) | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | ($33.41M) | Feb 21, 2025 |
| FY2024 | Sep 30, 2023 | ($25.32M) | Feb 21, 2025 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($410.14M) | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | ($40.49M) | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | ($71.21M) | Feb 25, 2026 |
| FY2024 | Dec 31, 2022 | $3.64M | Feb 21, 2025 |
| FY2023 | Dec 31, 2021 | ($42.41M) | Feb 23, 2024 |
| FY2021 | Mar 31, 2021 | ($15.95M) | May 6, 2021 |
| FY2022 | Dec 31, 2020 | ($262.85M) | Feb 24, 2023 |
| FY2021 | Mar 31, 2020 | ($25.09M) | May 6, 2021 |
| FY2021 | Dec 31, 2019 | ($308.89M) | Feb 24, 2022 |
| FY2020 | Dec 31, 2018 | ($47.48M) | Feb 26, 2021 |
R&D Expense
Spending on research and development activities — developing new products, improving existing ones, or conducting basic research. High R&D relative to revenue is common in technology and pharmaceutical companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2021 | Dec 31, 2021 | $15.50M | Feb 24, 2022 |
| FY2021 | Dec 31, 2020 | $15.10M | Feb 24, 2022 |
| FY2021 | Dec 31, 2019 | $19.80M | Feb 24, 2022 |
| FY2020 | Dec 31, 2018 | $18.20M | Feb 26, 2021 |
| FY2019 | Dec 31, 2017 | $17.20M | Mar 2, 2020 |
| FY2018 | Dec 31, 2016 | $11.10M | Feb 28, 2019 |
| FY2017 | Dec 31, 2015 | $5.80M | Mar 1, 2018 |
| FY2016 | Dec 31, 2014 | $0 | Mar 3, 2017 |
| FY2015 | Dec 31, 2013 | $2.00M | Feb 29, 2016 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $303.87M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $263.05M | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $358.11M | Feb 25, 2026 |
| FY2024 | Dec 31, 2022 | $269.27M | Feb 21, 2025 |
| FY2023 | Dec 31, 2021 | $219.50M | Feb 23, 2024 |
| FY2021 | Mar 31, 2021 | $58.59M | May 6, 2021 |
| FY2022 | Dec 31, 2020 | $210.41M | Feb 24, 2023 |
| FY2021 | Mar 31, 2020 | $52.09M | May 6, 2021 |
| FY2021 | Dec 31, 2019 | $236.45M | Feb 24, 2022 |
| FY2020 | Dec 31, 2018 | $235.42M | Feb 26, 2021 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $38.84M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $18.77M | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $142.58M | Feb 25, 2026 |
| FY2024 | Dec 31, 2022 | ($11.55M) | Feb 21, 2025 |
| FY2023 | Dec 31, 2021 | $38.75M | Feb 23, 2024 |
| FY2021 | Mar 31, 2021 | ($48.16M) | May 6, 2021 |
| FY2022 | Dec 31, 2020 | ($16.23M) | Feb 24, 2023 |
| FY2021 | Mar 31, 2020 | ($20.54M) | May 6, 2021 |
| FY2021 | Dec 31, 2019 | ($42.65M) | Feb 24, 2022 |
| FY2020 | Dec 31, 2018 | ($20.65M) | Feb 26, 2021 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2019 | Dec 31, 2019 | $35.53M | Mar 2, 2020 |
| FY2019 | Dec 31, 2018 | $39.55M | Mar 2, 2020 |
| FY2019 | Dec 31, 2017 | $27.85M | Mar 2, 2020 |
| FY2018 | Dec 31, 2016 | $15.53M | Feb 28, 2019 |
| FY2017 | Dec 31, 2015 | $6.52M | Mar 1, 2018 |
| FY2016 | Dec 31, 2014 | $0 | Mar 3, 2017 |
| FY2015 | Dec 31, 2013 | $10.44M | Feb 29, 2016 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $1.90B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $2.54B | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | $2.68B | Feb 21, 2025 |
| FY2023 | Dec 31, 2022 | $1.82B | Feb 23, 2024 |
| FY2022 | Dec 31, 2021 | $1.42B | Feb 24, 2023 |
| FY2021 | Mar 31, 2021 | $1.31B | May 6, 2021 |
| FY2021 | Dec 31, 2020 | $1.37B | Feb 24, 2022 |
| FY2020 | Dec 31, 2019 | $1.50B | Feb 26, 2021 |
| FY2019 | Dec 31, 2018 | $1.72B | Mar 2, 2020 |
| FY2018 | Dec 31, 2017 | $1.31B | Feb 28, 2019 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $1.48B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $1.35B | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | $1.43B | Feb 21, 2025 |
| FY2023 | Dec 31, 2022 | $957.88M | Feb 23, 2024 |
| FY2022 | Dec 31, 2021 | $725.83M | Feb 24, 2023 |
| FY2021 | Mar 31, 2021 | $688.29M | May 6, 2021 |
| FY2021 | Dec 31, 2020 | $752.10M | Feb 24, 2022 |
| FY2020 | Dec 31, 2019 | $568.97M | Feb 26, 2021 |
| FY2019 | Dec 31, 2018 | $532.93M | Mar 2, 2020 |
| FY2018 | Dec 31, 2017 | $266.39M | Feb 28, 2019 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $415.19M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $1.00B | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $1.07B | Feb 25, 2026 |
| FY2025 | Dec 31, 2022 | $859.42M | Feb 25, 2026 |
| FY2024 | Dec 31, 2021 | $693.63M | Feb 21, 2025 |
| FY2021 | Mar 31, 2021 | $617.30M | May 6, 2021 |
| FY2022 | Dec 31, 2020 | $619.60M | Feb 24, 2023 |
| FY2022 | Dec 31, 2019 | $929.05M | Feb 24, 2023 |
| FY2019 | Dec 31, 2018 | $1.14B | Mar 2, 2020 |
| FY2018 | Dec 31, 2017 | $1.01B | Feb 28, 2019 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $694.48M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $1.14B | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $1.12B | Feb 25, 2026 |
| FY2025 | Dec 31, 2022 | $722.77M | Feb 25, 2026 |
| FY2024 | Dec 31, 2021 | $426.30M | Feb 21, 2025 |
| FY2021 | Mar 31, 2021 | $349.02M | May 6, 2021 |
| FY2022 | Dec 31, 2020 | $349.03M | Feb 24, 2023 |
| FY2021 | Mar 31, 2020 | $569.80M | May 6, 2021 |
| FY2021 | Dec 31, 2019 | $566.36M | Feb 24, 2022 |
| FY2020 | Dec 31, 2018 | $768.12M | Feb 26, 2021 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($1.32B) | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | ($780.82M) | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | ($719.19M) | Feb 21, 2025 |
| FY2023 | Dec 31, 2022 | ($606.15M) | Feb 23, 2024 |
| FY2022 | Dec 31, 2021 | ($626.78M) | Feb 24, 2023 |
| FY2021 | Mar 31, 2021 | ($598.99M) | May 6, 2021 |
| FY2021 | Dec 31, 2020 | ($589.18M) | Feb 24, 2022 |
| FY2020 | Dec 31, 2019 | ($251.96M) | Feb 26, 2021 |
| FY2019 | Dec 31, 2018 | $50.01M | Mar 2, 2020 |
| FY2018 | Dec 31, 2017 | $85.95M | Feb 28, 2019 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $151.86M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $104.20M | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | $192.83M | Feb 21, 2025 |
| FY2023 | Dec 31, 2022 | $188.20M | Feb 23, 2024 |
| FY2022 | Dec 31, 2021 | $266.28M | Feb 24, 2023 |
| FY2021 | Mar 31, 2021 | $236.03M | May 6, 2021 |
| FY2021 | Dec 31, 2020 | $319.00M | Feb 24, 2022 |
| FY2021 | Mar 31, 2020 | $67.94M | May 6, 2021 |
| FY2020 | Dec 31, 2019 | $101.01M | Feb 26, 2021 |
| FY2019 | Dec 31, 2018 | $228.32M | Mar 2, 2020 |
Long-Term Debt
Debt obligations due more than one year from the balance sheet date — bonds, term loans, and notes payable. High long-term debt relative to equity can signal elevated financial leverage.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2019 | Dec 31, 2019 | $293.67M | Mar 2, 2020 |
| FY2019 | Dec 31, 2018 | $221.04M | Mar 2, 2020 |
| FY2018 | Dec 31, 2017 | $121.39M | Feb 28, 2019 |
| FY2017 | Dec 31, 2016 | $120.28M | Mar 1, 2018 |
| FY2016 | Dec 31, 2015 | $0 | Mar 3, 2017 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (3) | Feb 25, 2026 |
| FY2025 | Sep 30, 2025 | 0 | Feb 25, 2026 |
| FY2025 | Jun 30, 2025 | 0 | Feb 25, 2026 |
| FY2025 | Mar 31, 2025 | 0 | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | 0 | Feb 25, 2026 |
| FY2025 | Sep 30, 2024 | 0 | Feb 25, 2026 |
| FY2025 | Jun 30, 2024 | 0 | Feb 25, 2026 |
| FY2025 | Mar 31, 2024 | 0 | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | 0 | Feb 21, 2025 |
| FY2024 | Sep 30, 2023 | 0 | Feb 21, 2025 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (3) | Feb 25, 2026 |
| FY2025 | Sep 30, 2025 | 0 | Feb 25, 2026 |
| FY2025 | Jun 30, 2025 | 0 | Feb 25, 2026 |
| FY2025 | Mar 31, 2025 | 0 | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | 0 | Feb 25, 2026 |
| FY2025 | Sep 30, 2024 | 0 | Feb 25, 2026 |
| FY2025 | Jun 30, 2024 | 0 | Feb 25, 2026 |
| FY2025 | Mar 31, 2024 | 0 | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | 0 | Feb 21, 2025 |
| FY2024 | Sep 30, 2023 | 0 | Feb 21, 2025 |