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Sep 30, 2020
Evolent Health Q3 2020 Earnings Report
Evolent Health reported an increase in revenue, achieved adjusted EBITDA, and announced new customer partnerships.
Key Takeaways
Evolent Health announced its Q3 2020 results, highlighting a 20.2% year-over-year revenue increase to $264.6 million. The company achieved an adjusted EBITDA of $12.7 million and reported a net loss attributable to common shareholders of $(37.3) million. Evolent Health also announced new provider and specialty care customer partnerships.
GAAP revenue increased by 20.2% year-over-year to $264.6 million.
Net loss attributable to common shareholders was $(37.3) million.
Adjusted EBITDA reached $12.7 million.
Approximately 3.5 million lives were on the platform.
Forward Guidance
Evolent reiterated that it expects to be within previously-stated full year 2020 guidance ranges. For the three months ending December 31, 2020, Adjusted Revenue is expected to be in the range of approximately $249.0 million to $264.0 million. Adjusted EBITDA is expected to be in the range of approximately $10.0 million to $13.0 million.
Positive Outlook
- Adjusted Revenue for the year ending December 31, 2020 is expected to be in the range of approximately $1.000 billion to $1.014 billion.
- Adjusted Services revenue is forecasted to be approximately $903.3 million to $913.3 million.
- True Health premiums revenue is forecasted to be approximately $116.0 million to $120.0 million.
- Intersegment eliminations are forecasted to be approximately $(19.3) million for the full year.
- Adjusted EBITDA is expected to be in the range of approximately $35.0 million to $38.0 million.
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