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WASHINGTON - Evolent Health, Inc. (NYSE:EVH) shares plunged 11% after the healthcare solutions provider reported second-quarter results that fell short of analyst expectations, despite raising its full-year profitability outlook.
The company posted an adjusted loss of $0.10 per share for the second quarter, significantly missing analyst estimates of $0.08 in earnings. Revenue declined to $444.3 million from $647.1 million in the same period last year and fell short of the $459.4 million consensus forecast.
Despite the revenue miss, Evolent reported improved profitability metrics with adjusted EBITDA of $37.5 million, representing an 8.5% margin compared to 8.0% in the year-ago quarter. The company raised its full-year adjusted EBITDA guidance to a range of $140 million to $165 million.
"Evolent exceeded our EBITDA targets for the second quarter and raised our profitability outlook for the full year," said Seth Blackley, Co-Founder and Chief Executive Officer. "We continue to see a rapidly accelerating pipeline for new business and based on this acceleration we would expect to exceed our historical growth rates for 2026."
For the third quarter, Evolent expects revenue between $460 million and $480 million with adjusted EBITDA of $34 million to $42 million. The company revised its full-year revenue outlook to $1.85 billion to $1.88 billion, citing "updated go-live timing for certain Performance Suite launches."
Evolent announced four new revenue agreements during the quarter, bringing its year-to-date total to 11. The company noted that "rising medical costs impacting health plans continue to drive robust demand for Evolent’s complex specialty care solutions."
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