Evolent Health Inc
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
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Consolidated Statements of Operations and Comprehensive Income (Loss)
(in thousands, except per share data)
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Revenue(1) | $2,554,741 | $1,963,896 | $1,352,013 |
| Expenses | |||
| Cost of revenue (1) | 2,187,388 | 1,503,426 | 1,035,429 |
| Selling, general and administrative expenses (1) | 263,050 | 358,110 | 269,269 |
| Depreciation and amortization expenses | 118,370 | 123,415 | 67,195 |
| Loss on disposal of non-strategic assets | — | 8,107 | — |
| Right-of-use assets impairment | 2,588 | 24,065 | — |
| Loss on lease termination | 18,922 | — | — |
| Change in fair value of contingent consideration | 4,908 | 17,984 | (23,522) |
| Total operating expenses | 2,595,226 | 2,035,107 | 1,348,371 |
| Operating income (loss) | (40,485) | (71,211) | 3,642 |
| Interest income | 5,544 | 5,256 | 1,369 |
| Interest expense | (24,722) | (54,205) | (15,572) |
| Gain (loss) from equity method investees | (3,441) | 1,290 | 4,569 |
| Loss on extinguishment/repayment on long-term debt, net | — | (21,010) | (10,192) |
| Change in tax receivables agreement liability | (173) | (61,982) | (45,950) |
| Other income (expense), net | 241 | (543) | 57 |
| Loss before income taxes | (63,036) | (202,405) | (62,077) |
| Benefit from income taxes | (1,413) | (89,365) | (43,376) |
| Loss from continuing operations | (61,623) | (113,040) | (18,701) |
| Loss from discontinued operations, net of tax (2) | — | — | (463) |
| Loss before preferred dividends and accretion of Series A Preferred Stock | (61,623) | (113,040) | (19,164) |
| Dividends and accretion of Series A Preferred Stock | (31,831) | (29,220) | — |
| Net loss attributable to common shareholders of Evolent Health, Inc. | $(93,454) | $(142,260) | $(19,164) |
| Loss per common share | |||
| Basic and diluted | $(0.81) | $(1.28) | $(0.20) |
| Weighted-average common shares outstanding | |||
| Basic and diluted | 114,682 | 111,251 | 93,699 |
| Comprehensive loss | |||
| Net loss attributable to common shareholders of Evolent Health, Inc. | $(93,454) | $(142,260) | $(19,164) |
| Other comprehensive loss, net of taxes, related to: | |||
| Foreign currency translation adjustment | (496) | (79) | (816) |
| Total comprehensive loss attributable to common shareholders of Evolent Health, Inc. | $(93,950) | $(142,339) | $(19,980) |
(1)See Note 19 for amounts attributable to unconsolidated related parties included in these line items.
(2)Includes $0.5 million loss on disposal ofdiscontinued operations for the year ended December 31, 2022.
See accompanying Notes to Consolidated Financial Statements.
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