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Sep 30, 2021
Evolent Health Q3 2021 Earnings Report
Evolent Health's Q3 2021 financial performance reflected a mix of revenue decrease and strategic advancements.
Key Takeaways
Evolent Health reported a GAAP revenue of $222.5 million, a 7.1% decrease compared to Q3 2020, but revenue excluding divested assets increased by 36.3%. The company achieved an Adjusted EBITDA of $13.8 million and managed a total of 14.7 million lives. Evolent also announced new agreements with Sunflower Medical Group and Northern Medical Group, along with a partnership with Health New England.
GAAP revenue was $222.5 million, a decrease of 7.1% year-over-year.
Revenue excluding divested assets increased by 36.3% year-over-year.
Adjusted EBITDA reached $13.8 million.
Total lives managed amounted to 14.7 million.
Evolent Health
Evolent Health
Forward Guidance
Evolent Health provided revenue and Adjusted EBITDA guidance for the full year 2021 and the fourth quarter of 2021.
Positive Outlook
- Full year 2021 revenue is expected to be in the range of approximately $884 million to $900 million.
- Full year 2021 Adjusted EBITDA is expected to be in the range of approximately $56 million to $60 million.
- Fourth quarter 2021 revenue is expected to be in the range of approximately $225 million to $240 million.
- Fourth quarter 2021 Adjusted EBITDA is expected to be in the range of approximately $14 million to $18 million.
- Company is seeing momentum from the current portfolio
Challenges Ahead
- Actual results may differ materially due to various factors.
- Significant portion of revenue derived from largest partners.
- Uncertainty in the health care regulatory framework.
- Risks related to completed and future acquisitions.
- Potential negative impact of the COVID-19 pandemic.