EVH Q1 2026

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

Evolent Health delivered a mixed first quarter for fiscal 2026, beating on the bottom line while falling short on revenue, as rising medical costs continued to weigh on the company's performance suite margins. The health technology firm posted an adj… Read more Evolent Health delivered a mixed first quarter for fiscal 2026, beating on the bottom line while falling short on revenue, as rising medical costs continued to weigh on the company's performance suite margins. The health technology firm posted an adjusted loss of $0.02 per share, well ahead of the consensus estimate of a $0.05 loss, a beat of 57.17%, though revenue of $496.25 million trailed analyst expectations of $534.04 million and grew just 2.6% year over year. The primary culprit was a medical expense ratio of 93.3% in the Performance Suite, up sharply from 84.0% a year ago, reflecting industry-wide pressure from rising medical costs that compressed adjusted EBITDA to $22.07 million, down from $36.86 million in Q1 2025. On a brighter note, the company's GAAP net loss narrowed significantly to $26.63 million from $72.25 million a year earlier. Management reaffirmed full-year 2026 guidance of $2.40 billion to $2.60 billion in revenue and $110 million to $140 million in adjusted EBITDA, pointing to two new client agreements targeted for Q3 launches, including a national payer expansion expected to generate over $200 million in annual revenue, as catalysts for the second half.