← Evolent Health, Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | ($159.7m) |
($60.7m)
+62.02%
|
($52.7m)
+13.20%
|
($302.0m)
-473.46%
|
($334.2m)
-10.69%
|
— | ($19.2m) |
($113.0m)
-489.86%
|
($61.6m)
+45.49%
|
($534.5m)
-767.39%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($159.7m) |
($60.7m)
+62.02%
|
($52.7m)
+13.20%
|
($302.0m)
-473.46%
|
— | ($37.6m) |
($19.2m)
+49.03%
|
($142.3m)
-642.33%
|
($93.5m)
+34.31%
|
($579.4m)
-519.99%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($226.8m) | ($69.8m) | ($54.2m) | ($305.6m) | ($334.2m) | ($37.6m) | — | — | — | ($579.4m) | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | ($67.0m) | ($9.1m) | ($1.5m) | ($3.6m) | $0 | $0 | — | — | — | — | — | |
| Depreciation, Depletion and Amortization | $17.2m | $32.4m | $44.5m | $60.9m | $61.5m | $60.0m | $67.2m | $123.4m | $118.4m | $115.9m | $111.8m | |
| Amortization of Debt Issuance Costs | — | $914k | $2.5m | $9.4m | $14.8m | $18.0m | $2.3m | $3.8m | $3.5m | $7.8m | — | |
| Amortization of Intangible Assets | $12.5m | $22.8m | $27.2m | $37.7m | $32.9m | $29.4m | $35.2m | $91.0m | $88.1m | $89.6m | — | |
| Capitalized Computer Software, Amortization | $1.4m | $4.9m | $12.4m | $18.7m | $24.3m | $26.5m | $27.0m | $26.7m | $25.6m | $23.2m | — | |
| Depreciation | $2.6m | $9.2m | $17.3m | $23.3m | $28.3m | $30.6m | $32.0m | $32.4m | $30.3m | $26.3m | $111.8m | |
| Depreciation and amortization expenses | $17.2m | $32.4m | $44.5m | $60.9m | $61.5m | $60.0m | $67.2m | $123.4m | $118.4m | $115.9m | $111.8m | |
| Amortization of contract cost assets | $0 | $0 | $2.7m | $5.7m | $21.2m | $13.0m | $23.1m | $10.9m | $4.8m | $6.8m | — | |
| Amortization of deferred financing costs | $0 | $914k | $2.5m | $9.4m | $14.8m | $18.0m | $2.3m | $3.8m | $3.5m | $7.8m | — | |
| Deferred Income Tax Expense (Benefit) | ($10.8m) | $100k | ($17.1m) | ($32.4m) | ($48.2m) | ($10.4m) | $2.4m | ($54.5m) | ($18.8m) | ($15.0m) | $1.4m | |
| Deferred Other Tax Expense (Benefit) | $91k | ($7.4m) | $16.4m | $9.2m | $47.0m | $9.9m | ($48.0m) | ($38.8m) | $15.8m | $12.0m | — | |
| Deferred tax benefit | ($10.8m) | ($7.3m) | $44k | ($23.1m) | ($1.1m) | ($526k) | ($45.6m) | ($93.3m) | ($3.0m) | ($3.0m) | — | |
| Share-based Payment Arrangement, Noncash Expense | $18.6m | $20.4m | $17.6m | $15.6m | $14.6m | $16.7m | $34.0m | $40.5m | $39.7m | $39.7m | $42.9m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $365k | $1.3m | $1.2m | $2.6m | $1.9m | $3.9m | $18.3m | $15.3m | $15.7m | $5.2m | — | |
| Share-based Payment Arrangement, Expense | $22.5m | $20.4m | $17.6m | $15.6m | $14.6m | $16.7m | $34.0m | $40.5m | $39.7m | $39.7m | $42.9m | |
| Stock-based compensation expense | $18.6m | $20.4m | $17.6m | $15.6m | $14.6m | $16.7m | $34.0m | $40.5m | $39.7m | $39.7m | $42.9m | |
| Equity Method Investment, Other than Temporary Impairment | $0 | $0 | $0 | $0 | $47.1m | $0 | $0 | — | — | — | — | |
| Goodwill, Impairment Loss | $160.6m | $0 | $0 | $199.8m | $215.1m | $0 | $0 | — | — | $398.0m | $398.0m | |
| Operating Lease, Impairment Loss | — | — | — | — | — | — | — | $24.1m | $2.6m | $0 | — | |
| Goodwill impairment | $160.6m | $0 | $0 | $199.8m | $215.1m | $0 | $0 | $0 | $0 | $398.0m | $398.0m | |
| Right-of-use asset impairment | — | — | — | — | — | $0 | $0 | $24.1m | $2.6m | $0 | — | |
| Income (Loss) from Equity Method Investments | ($841k) | ($1.8m) | ($4.7m) | ($9.5m) | $10.0m | $13.2m | $4.6m | $1.3m | ($3.4m) | $365k | — | |
| Other Nonoperating Income (Expense) | $4k | $171k | $109k | ($492k) | ($119k) | ($146k) | $57k | ($543k) | $241k | $249k | — | |
| (Gain) loss from equity method investees | $841k | $1.8m | $4.7m | $9.5m | ($10.0m) | ($13.2m) | ($4.6m) | ($1.3m) | $3.4m | ($365k) | — | |
| Return of equity method investments | — | — | — | $0 | $0 | $14.2m | $5.6m | $870k | $7k | $986k | — | |
| Purchases of investments and contributions to equity method investees | $0 | $0 | ($10.0m) | ($11.1m) | ($11.2m) | ($3.0m) | $0 | $0 | ($7.3m) | ($1.0m) | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Changes in working capital balances related to claims processing | — | — | $96.2m | ($104.3m) | ($6.0m) | $61.2m | ($59.4m) | ($1.5m) | $43.5m | ($42.9m) | — | |
| Increase (Decrease) in Accounts Receivable | $11.0m | $11.3m | — | — | — | — | — | — | — | — | ($121.5m) | |
| Change in tax receivables agreement liability | — | — | — | — | — | $0 | $46.0m | $62.0m | $173k | $804k | — | |
| Accounts receivable, net and contract assets | ($11.0m) | ($11.3m) | ($24.5m) | $6.3m | ($47.0m) | ($5.8m) | ($103.0m) | ($164.7m) | $32.1m | $73.7m | ($121.5m) | |
| Increase (Decrease) in Accounts Payable | ($6.4m) | $5.6m | $7.6m | ($5.5m) | $3.5m | $7.2m | $13.2m | ($6.7m) | $4.2m | $6.6m | ($29.4m) | |
| Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | — | — | — | — | — | — | $594.2m | $891.1m | $1.5b | $907.3m | — | |
| Accrued liabilities | $15.2m | ($2.8m) | $12.2m | ($21.9m) | $8.8m | ($324k) | ($28.8m) | $23.7m | ($24.2m) | $3.0m | ($22.8m) | |
| Accrued compensation and employee benefits | $6.7m | ($3.3m) | ($14.6m) | $9.2m | $11.1m | $3.5m | $447k | ($2.1m) | ($22.7m) | $17.3m | — | |
| Deferred revenue | $1.2m | $3.5m | ($1.8m) | ($756k) | ($8.9m) | ($739k) | ($6.5m) | ($263k) | ($3.5m) | ($1.3m) | — | |
| Gain (Loss) on Disposition of Other Assets | — | — | — | ($9.6m) | $698k | $6.8m | $463k | $8.1m | $0 | $14.9m | — | |
| Prepaid expenses and other current and non-current assets | ($10.0m) | $2.7m | ($14.7m) | $791k | $7.3m | $5.6m | $1.7m | ($10.6m) | $4.5m | $5.0m | — | |
| Net Cash Provided by (Used in) Operating Activities | ($35.5m) |
($28.0m)
+21.27%
|
($20.7m)
+26.14%
|
($42.6m)
-106.50%
|
($16.2m)
+61.95%
|
$38.7m
+338.81%
|
($11.6m)
-129.82%
|
$142.6m
+1334.16%
|
$18.8m
-86.84%
|
$38.8m
+107.00%
|
$54.3m
+39.83%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $15.5m | $27.8m | $39.5m | $35.5m | ($29.5m) | ($25.0m) | ($38.4m) | ($28.7m) | ($24.9m) | ($34.1m) | ($30.0m) | |
| Payments to Acquire Investments | $0 | $0 | — | — | — | — | — | — | — | — | — | |
| Restricted Cash and Investments, Current | — | $62.4m | $154.7m | $20.1m | $14.4m | $75.7m | $14.5m | $13.8m | $59.3m | $26.1m | — | |
| Cash paid for asset acquisitions and business combinations | — | ($3.7m) | ($130.2m) | ($8.6m) | ($300k) | ($49.0m) | ($248.1m) | ($388.2m) | ($30.7m) | ($57.4m) | — | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | $0 | $0 | — | — | — | — | |
| Net cash and restricted cash used in investing activities | ($97.8m) | ($12.3m) | ($160.4m) | ($181.6m) | $261.1m | ($15.8m) | ($259.1m) | ($415.5m) | ($62.9m) | ($233k) | — | |
| Net Cash Provided by (Used in) Investing Activities | ($97.8m) | ($12.3m) | ($160.4m) | ($181.6m) | $261.1m | ($15.8m) | ($259.1m) | ($415.5m) | ($62.9m) | ($233k) | ($31.0m) | |
| Cash flows from financing activities: | ||||||||||||
| Repayments of Long-term Debt | — | — | — | — | — | — | — | $464.2m | $0 | — | ($290.5m) | |
| Gain (Loss) on Extinguishment of Debt | — | — | — | — | ($4.8m) | $0 | ($10.2m) | ($21.0m) | $0 | ($3.5m) | — | |
| Proceeds from Issuance of Long-term Debt | — | — | $167.2m | $62.6m | $30.1m | $0 | $219.7m | $647.5m | $58.6m | $408.0m | $187.0m | |
| Loss on extinguishment/repayment of debt, net | — | — | — | — | $4.8m | $21.3m | $10.2m | $21.0m | $0 | $3.5m | — | |
| Repayment of debt | — | — | — | — | — | — | — | ($464.2m) | $0 | ($343.0m) | ($290.5m) | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | — | $0 | $0 | $40.0m | — | |
| Repurchase of common stock | — | — | — | — | — | — | — | $0 | $0 | ($40.0m) | — | |
| Loss before preferred dividends and accretion of Series A Preferred Stock including excise tax | — | — | — | — | $334 | $38 | $19 | ($113) | ($62) | ($535) | — | |
| Payment of preferred dividends | — | — | — | — | — | $0 | $0 | ($18.8m) | ($20.1m) | ($11.1m) | — | |
| Extinguishment of Series A Preferred Stock and other refinancing fees | — | — | — | — | — | — | — | $0 | $0 | $15.0m | — | |
| Net cash and restricted cash (used in) provided by financing activities | $122.1m |
$165.6m
+35.54%
|
$274.0m
+65.52%
|
($35.5m)
-112.97%
|
($11.9m)
+66.63%
|
($29.5m)
-149.10%
|
$131.5m
+545.18%
|
$281.3m
+113.88%
|
($565k)
-100.20%
|
($35.9m)
-6258.23%
|
— | |
| Net Cash Provided by (Used in) Financing Activities | $122.1m |
$165.6m
+35.54%
|
$274.0m
+65.52%
|
($35.5m)
-112.97%
|
($11.9m)
+66.63%
|
($29.5m)
-149.10%
|
$131.5m
+545.18%
|
$281.3m
+113.88%
|
($565k)
-100.20%
|
($35.9m)
-6258.23%
|
($149.8m)
-317.04%
|
|
| Net increase (decrease) in cash and cash equivalents and restricted cash | $18.0m | $125.3m | $93.0m | ($259.8m) | $233.1m | ($6.6m) | ($139.8m) | $8.3m | ($45.0m) | $2.2m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $0 | $0 | $93.0m | ($259.8m) | $233.1m | ($6.6m) | ($139.8m) | $8.3m | ($45.0m) | $2.2m | $142.8m | |
| Cash and cash equivalents and restricted cash as of beginning-of-period | $170.0m | $295.4m | $388.3m | $128.5m | $361.6m | $354.9m | $215.2m | $223.5m | $178.5m | $180.7m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $0 | $295.4m | $388.3m | $128.5m | $361.6m | $354.9m | $215.2m | $223.5m | $178.5m | $180.7m | $142.8m | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $0 | $0 | ($36k) | $30k | $65k | ($52k) | ($657k) | ($79k) | ($229k) | ($486k) | ($1.3m) | |
| Effect of exchange rate on cash and cash equivalents and restricted cash | $0 | $0 | ($36k) | $30k | $65k | ($52k) | ($657k) | ($79k) | ($229k) | ($486k) | — | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | $2.5m | $5.0m | $13.4m | $7.1m | $6.3m | — | — | — | — | |
| Income Taxes Paid, Net | ($365k) | ($1.3m) | ($1.2m) | ($2.6m) | ($1.9m) | ($3.9m) | $1.4m | $4.9m | $1.4m | $2.6m | — | |
| Additional Financial Items | ||||||||||||
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | — | — | — | ($9.6m) | $698k | $6.8m | ($500k) | ($500k) | $0 | ($14.9m) | — | |
| Fair Value, Option, Changes in Fair Value, Gain (Loss) | — | — | — | — | — | — | — | — | — | ($52.5m) | — | |
| Gain (Loss) on Disposition of Assets | — | — | — | $9.6m | ($698k) | $0 | $0 | ($8.1m) | $0 | — | — | |
| Gain (Loss) on Termination of Lease | — | — | — | — | — | — | $0 | ($6.5m) | ($18.9m) | ($676k) | — | |
| Goodwill | $626.6m | $628.2m | $768.1m | $572.1m | $354.7m | $426.3m | $722.8m | $1.1b | $1.1b | $694.5m | $398.0m | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | — | ($18.7m) | ($113.0m) | ($61.6m) | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | ($30.3m) | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | ($7.3m) | ($463k) | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | — | ($463k) | $0 | $0 | — | — | |
| Income Tax Expense (Benefit) | ($10.8m) | ($6.6m) | $40k | ($21.5m) | ($3.6m) | $483k | ($43.4m) | ($89.4m) | ($1.4m) | ($126k) | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $24.7m | $57.5m | — | |
| Investment Income, Interest | — | $1.7m | $3.4m | $4.0m | $3.2m | $407k | $1.4m | $5.3m | $5.5m | $4.2m | — | |
| Operating Expenses | $491.6m | $507.8m | $674.5m | $1.2b | $1.3b | $950.4m | — | — | — | — | — | |
| Proceeds from Stock Options Exercised | $1.3m | $4.1m | $11.9m | $1.1m | $2.6m | $13.3m | $4.5m | $12.5m | $3.5m | $0 | — | |
| Change in fair value of contingent consideration | ($2.1m) | $400k | ($4.1m) | ($4.0m) | $3.9m | $13.3m | ($23.5m) | $18.0m | $4.9m | $6.5m | — | |
| (Gain) loss on disposal of non-strategic assets | — | — | — | ($9.6m) | $698k | $6.8m | $463k | $8.1m | $0 | ($14.9m) | — | |
| Loss on option exercise | — | — | — | — | — | — | — | $0 | $0 | $52.5m | — | |
| Loss on lease termination | — | — | — | — | — | — | $0 | $0 | $18.9m | $676k | — | |
| Right-of-use operating assets | — | $0 | $0 | ($20.8m) | $11.9m | $8.8m | $2.5m | $16.6m | $3.3m | $1.8m | — | |
| Contract cost assets | $0 | $0 | ($11.2m) | ($23.1m) | ($11.4m) | ($19.0m) | ($7.7m) | ($5.6m) | ($6.1m) | ($7.0m) | — | |
| Operating lease liabilities | — | $0 | $0 | $27.7m | ($2.8m) | ($6.5m) | ($3.0m) | ($15.4m) | ($15.0m) | ($33.2m) | — | |
| Reserve for claims and performance-based arrangements | — | $0 | $9.0m | $33.6m | ($36.1m) | ($3.8m) | $28.4m | $204.3m | ($85.3m) | ($126.5m) | — | |
| Other long-term liabilities | ($153k) | ($1.8m) | $3.2m | ($5.4m) | $8.2m | ($2.7m) | ($1.7m) | ($759k) | ($653k) | $5.0m | — | |
| Proceeds from disposal of non-strategic assets | — | — | — | — | — | — | — | $577k | $0 | $91.3m | — | |
| Payment of contingent consideration | — | — | — | — | — | $0 | $0 | ($46.9m) | ($70.4m) | ($1.8m) | — | |
| Proceeds from stock option exercises | $1.3m | $4.1m | $11.9m | $1.1m | $2.6m | $13.3m | $4.5m | $12.5m | $3.5m | $0 | — | |
| Proceeds from issuance of preferred stock, net of offering costs | — | — | — | — | — | $0 | $0 | $168.0m | $0 | $0 | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.