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Jun 30, 2022
Evolent Health Q2 2022 Earnings Report
Announced second quarter results with revenue increase and strategic partnership additions.
Key Takeaways
Evolent Health reported a 44.1% increase in revenue to $319.9 million for Q2 2022, with a net loss of $4.6 million and adjusted EBITDA of $21.7 million. The company added 10 new operating partnerships in 2022, exceeding its annual goal. They also closed the acquisition of IPG.
Revenue increased by 44.1% to $319.9 million compared to Q2 2021.
Net loss attributable to common shareholders was $4.6 million, resulting in a net loss margin of (1.43)%.
Adjusted EBITDA reached $21.7 million, with an adjusted EBITDA margin of 6.8%.
Total lives on platform reached 21.9 million, including 2.1 million Evolent Health Services lives and 19.8 million Clinical Solutions lives.
Evolent Health
Evolent Health
Forward Guidance
For Q3 2022, revenue is expected to be in the range of $343.0 million to $363.0 million, and adjusted EBITDA is expected to be in the range of $24.0 million to $29.0 million. For full year 2022, revenue is expected to be in the range of $1.32 billion to $1.36 billion, and adjusted EBITDA is expected to be in the range of $95.0 million to $105.0 million.
Positive Outlook
- Revenue for Q3 2022 is projected to be between $343.0 million and $363.0 million.
- Adjusted EBITDA for Q3 2022 is anticipated to be between $24.0 million and $29.0 million.
- Full year 2022 revenue is expected to range from $1.32 billion to $1.36 billion.
- Adjusted EBITDA for the full year 2022 is projected to be between $95.0 million and $105.0 million.
- Cash deployed for software development is expected to be in the range of $30 million - $35 million for the year ended December 31, 2022.
Challenges Ahead
- Actual results may differ materially from forward-looking statements due to various risks and uncertainties.
- Significant portion of revenue is derived from largest partners, and loss of such partners may adversely affect the company.
- Uncertainty in the health care regulatory framework may impact the company's performance.
- Risks related to completed and future acquisitions may result in unanticipated costs.
- The company's ability to maintain profitability for performance-based contracts is subject to risk.