Evolent Health Announces Fourth Quarter and Full Year 2021 Results

 Quarter ended December 31, 2021:

• GAAP revenue of $248.4 million, an increase of $1.8 million, or 0.7%, from the three months ended December 31, 2020.

• Net loss attributable to common shareholders of Evolent Health, Inc. of $(5.6) million.

• Achieved Adjusted EBITDA of $24.3 million.

• Total Lives on Platform of 20.0 million as of December 31, 2021, composed of 1.6 million Evolent Health Services Lives on Platform and 18.4 million Clinical Solutions Lives on Platform.

Full year Ended December 31, 2021:

• GAAP revenue of $908.0 million, a decrease of $16.7 million, or (1.8)%, from the year ended December 31, 2020.

• Net loss attributable to common shareholders of Evolent Health, Inc. of $(37.6) million.

• Achieved Adjusted EBITDA of $66.3 million.

• Expenditures for software development and other capitalized assets of $25 million for the year ended December 31, 2021.

Also today, Evolent announced four new partnerships and a new initial partner implementation:

• During 2022, three additional Molina health plans, in Kentucky, Washington, and Nevada, will implement New Century Health's Performance suite for Cardiology. The Kentucky and Washington plans are migrating up from their initial implementation of New Century Health's Technology and Services suite, and Nevada will be going live for the first time.

• Blue Cross and Blue Shield of North Carolina entered into a new Performance suite with Evolent Care Partners to manage a portion of its Blue Premier Commercial line of business beginning in Q1 2022.

• Evolent Health Services recently went live with its previously announced health plan partner, Bright HealthCare, initiating a multi-year operational partnership. Evolent Health Services will support approximately 350,000 Bright HealthCare plan members in 2022 with its comprehensive administrative and value-based solutions services.

Business Outlook

First Quarter 2022 Guidance

For the three months ending March 31, 2022, revenue is expected to be in the range of approximately $280.0 million to $295.0 million. Adjusted EBITDA is expected to be in the range of approximately $20.0 million to $25.0 million.

Full Year 2022 Guidance

Revenue for the year ending December 31, 2022 is expected to be in the range of approximately $1.12 billion to $1.18 billion. Adjusted EBITDA is expected to be in the range of approximately $80.0 million to $90.0 million.

https://finance.yahoo.com/news/evolent-health-announces-fourth-quarter-211000063.html