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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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