Evolent reported Q4 2025 revenue of USD 468.7 million and a net loss attributable to common shareholders of USD 429.1 million (net loss margin (91.6)%). Adjusted EBITDA for Q4 was USD 37.8 million (8.1% margin). For FY 2025, Evolent posted revenue of USD 1.9 billion and a net loss attributable to common shareholders of USD 579.4 million (net loss margin (30.9)%), while Adjusted EBITDA was USD 151.2 million (8.1% margin). Cash and cash equivalents totaled USD 151.9 million as of December 31, 2025. Operational metrics for Q4 2025 included Performance Suite average lives on platform of 6,475 with average PMPM fees of USD 13.87; Specialty Technology and Services Suite average lives on platform of 79,677 with average PMPM fees of USD 0.40; and Administrative Services average lives on platform of 1,218 with average PMPM fees of USD 15.27. Medical Expense Ratio was 90.2% for Q4 2025 and 80.5% for FY 2025. Management said FY 2025 execution included meeting earnings targets, market share growth, strong customer renewal rates, and continued migration of Performance Suite clients to an enhanced contract model, citing ongoing demand tied to rising medical costs. For FY 2026, Evolent guided to revenue of approximately USD 2.4 billion to USD 2.6 billion and Adjusted EBITDA of approximately USD 110 million to USD 140 million, and expects USD 25 million to USD 35 million of capitalized software development cash deployment.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Evolent Health Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: PH94449) on February 24, 2026, and is solely responsible for the information contained therein.