| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Loss before preferred dividends and accretion of series a preferred stock | -26,632 | -429,131 | -20,864 | -84,515 |
| Change in fair value of contingent consideration | 0 | 4,658 | -1,089 | 2,926 |
| (gain) loss on disposal of non-strategic assets | NaN | 14,867 | NaN | NaN |
| Loss from equity method investees | -11 | 31 | 156 | 178 |
| Extinguishment of series a preferred stock and other refinancing fees | NaN | 0 | 6,000 | 9,000 |
| Gain on extinguishment of short-term debt | NaN | NaN | 431 | NaN |
| Loss on option exercise | 0 | 0 | 0 | -52,544 |
| Depreciation and amortization expenses | 21,555 | 45,037 | 23,615 | 47,199 |
| Stock-based compensation expense | 10,649 | 2,396 | 14,682 | 22,661 |
| Deferred tax expense | 577 | -3,039 | 627 | -570 |
| Amortization of contract cost assets | 931 | 1,090 | 3,181 | 2,523 |
| Amortization of deferred financing costs | 2,949 | 3,042 | 2,359 | 2,403 |
| Goodwill impairment | NaN | 398,000 | NaN | NaN |
| Loss on extinguishment/repayment of debt, net | NaN | -3,483 | NaN | NaN |
| Right-of-use asset impairment | NaN | 0 | NaN | NaN |
| Loss on lease termination | 0 | 0 | 1,230 | -1,906 |
| Change in tax receivables agreement liability | NaN | -804 | 0 | 0 |
| Right-of-use operating assets | -507 | -464 | -505 | -792 |
| Other current operating cash inflows (outflows), net | 0 | 0 | 0 | 0 |
| Accounts receivable, net and contract assets | 4,297 | -66,339 | 48,561 | -55,925 |
| Prepaid expenses and other current and non-current assets | 3,372 | -4,600 | -2,191 | 1,803 |
| Contract cost assets | 1,125 | 3,467 | 1,837 | 1,649 |
| Accounts payable | 5,388 | -14,862 | 3,312 | 18,189 |
| Accrued liabilities | -20,982 | 7,356 | 1,468 | -5,867 |
| Operating lease liabilities | -7,222 | -3,214 | -9,014 | -20,973 |
| Accrued compensation and employee benefits | -19,980 | -4,393 | 17,118 | 4,543 |
| Deferred revenue | 214 | -668 | -462 | -174 |
| Reserve for claims and performance-based arrangements | 39,766 | -19,456 | 24,401 | -131,454 |
| Other long-term liabilities | 79 | 4,228 | -3 | 803 |
| Net cash and restricted cash (used in) provided by operating activities | -984 | 48,800 | 15,812 | -25,769 |
| Proceeds from disposal of non-strategic assets | NaN | 91,312 | NaN | NaN |
| Return of equity method investments | NaN | 0 | 198 | 788 |
| Purchases of investments and contributions to equity method investees | NaN | 0 | 0 | 1,000 |
| Cash paid for asset acquisitions and business combinations | 0 | 1,398 | -2 | 56,047 |
| Investments in internal-use software and purchases of property and equipment | 6,406 | 7,761 | 8,962 | 17,365 |
| Net cash and restricted cash used in investing activities | -6,406 | 82,153 | -8,762 | -73,624 |
| Changes in working capital balances related to claims processing | 2,157 | -2,444 | 578 | 44,754 |
| Repayment of long-term debt | NaN | NaN | 166,755 | 62,500 |
| Payment of contingent consideration | NaN | 0 | 750 | 1,000 |
| Proceeds from stock option exercises | NaN | 0 | 0 | 0 |
| Proceeds from issuance of preferred stock, net of offering costs | NaN | 0 | NaN | NaN |
| Proceeds from issuance of long-term debt, net of offering costs | 0 | -18,307 | -168,740 | -221,000 |
| Repayment of debt | 0 | 342,984 | NaN | NaN |
| Repurchase of common stock | NaN | 0 | 39,996 | NaN |
| Payment of preferred dividends | 0 | 0 | 1,929 | 9,198 |
| Taxes withheld and paid for vesting of equity awards | 1,816 | 58 | 547 | 4,621 |
| Net cash and restricted cash (used in) provided by financing activities | -3,973 | -93,036 | -41,815 | 98,927 |
| Effect of exchange rate on cash and cash equivalents and restricted cash | -589 | -225 | -201 | -60 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | -11,952 | 37,692 | -34,966 | -526 |
| Cash and cash equivalents and restricted cash as of beginning-of-period | 180,696 | 35,492 | 178,496 | NaN |
| Cash and cash equivalents and restricted cash as of end-of-period | 168,744 | 37,692 | 143,004 | NaN |
Evolent Health, Inc. (EVH)
Evolent Health, Inc. (EVH)