EVH

EX-99.1

2 a2026q3exhibit991.htm

EX-99.1

Document

Exhibit 99.1

Evolent Announces Third Quarter 2026 Results

WASHINGTON (November 5, 2026) – Evolent Health, Inc. (NYSE: EVH) (“Evolent” or the “Company”), a company that specializes in better health outcomes for people with complex conditions through proven solutions that make health care simpler and more affordable, today announced financial results for the three months ended September 30, 2026.

Seth Blackley, Co-Founder and Chief Executive Officer of Evolent stated, “As health plan customers seek to balance affordability with patient and doctor experience, they continue to turn to Evolent by renewing agreements and in many cases, expanding the work they do with us. That growth and demand from existing clients, as well as strong execution in our 2026 oncology launches, continue to drive strong performance in 2026. Looking ahead, I believe our innovative AI platform and our oncology solution will drive growth and margin expansion for Evolent in the quarters to come.”

Highlights include (in thousands, except for average PMPM fees and revenue per case):

For the Three Months Ended September 30,

20262025

Financial Results:

Revenue$725,367 $479,533

Net loss attributable to common shareholders of Evolent Health, Inc. $(23,566)$(26,930)

Net loss margin(3.2)%(5.6)%

Adjusted EBITDA$34,257 $38,955

Adjusted EBITDA Margin4.7 %8.1 %

Average Lives on Platform/Cases

Performance Suite7,195 6,474

Specialty Technology and Services Suite74,733 78,050

Administrative Services1,163 1,222

Cases11 13

Average Unique Members39,804 40,781

Average PMPM Fees/ Revenue per Case

Performance Suite$26.14 $14.77

Specialty Technology and Services Suite0.32 0.40

Administrative Services13.84 15.77

Cases3,605 3,236

Medical Expense Ratio93.0 %85.0 %

Medical Expense Ratio excluding Evolent Care PartnersN/A91.9 %

The rising medical costs impacting health plans continue to drive robust demand for Evolent’s complex specialty care solutions.

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Evolent announced one renewal and two new revenue agreements, bringing the year-to-date total to seven:

•First, we renewed our largest Surgical Management customer contract for an additional four years. Surgical Management is the IPG business acquired by Evolent in 2022. We believe this multi-year commitment from a long-standing partner reinforces the value of our model and the strength of our client relationships.

•Second, we are expanding our relationship with an existing client to provide oncology services across several additional states, representing approximately 1 million Commercial lives, with a January 1, 2027 go-live. The agreement also adds Member Navigation across all existing and new lives, broadening the relationship beyond the client's existing solution and demonstrating our opportunity to drive growth through expanded adoption of Evolent's solutions.

•Third, we expanded our relationship with a national payer in Specialty Technology & Services for oncology across 11 additional states.

Financial Results of Evolent Health, Inc.

In our earnings releases, prepared remarks, conference calls, slide presentations and webcasts, we may use or discuss financial measures not prepared in accordance with generally accepted accounting principles (“GAAP”). Definitions of the non-GAAP financial measures as well as reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are presented herein. See “Non-GAAP Financial Measures” for more information.

Reported Results

Evolent Health, Inc. reported the following results in accordance with GAAP (dollars in thousands, except for per share data):

For the Three Months Ended September 30,

20262025

Revenue $725,367 $479,533

Cost of revenue636,946 379,759

Selling, general and administrative expenses73,116 77,592

Net loss attributable to common shareholders of Evolent Health, Inc.(23,566)(26,930)

Net loss margin(3.2)%(5.6)%

Loss per share attributable to common shareholders of Evolent Health, Inc.

Basic and diluted$(0.21)$(0.24)

Total cash and cash equivalents was $148.3 million as of September 30, 2026.

Adjusted Results

Evolent Health, Inc. reported the following adjusted results (dollars in thousands, except for per share data):

For the Three Months Ended September 30,

20262025

Adjusted cost of revenue $635,107 $378,518

Adjusted selling, general and administrative expenses $56,003 $62,060

Adjusted EBITDA $34,257 $38,955

Adjusted EBITDA margin4.7 %8.1 %

Adjusted income attributable to common shareholders $7,296 $5,630

Adjusted income per share attributable to common shareholders:

Basic and diluted$0.06 $0.05

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Business Outlook

The Company does not believe it can meaningfully reconcile guidance for non-GAAP Adjusted EBITDA to net income (loss) attributable to common shareholders of Evolent Health, Inc. because the Company cannot provide guidance for the more significant reconciling items between net income (loss) attributable

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