Filing Flows › Industrials › Evolent Health (EVH)
Evolent Health (EVH) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Evolent Health (EVH) Q3 2026 earnings results →
Q3 2026 Revenue up 51% year over year to $725M · 3¢ of every $1 of revenue lost · operating margin -0.9%
Evolent Health made $725M in Q3 2026 (+51% Y/Y). Operating margin -0.9%, net loss $23.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $725.4M in Q3 2026, up 51% year over year and up 11% from the previous quarter.
Operating costs exceeded revenue by $6.2M, an operating margin of -0.9%. Total costs grew 53% against revenue growth of 51%. The fastest-growing cost line was Cost of revenue (+68%). The quarter ended with a net loss of $23.6M, narrower than the previous quarter's $28.4M loss. Net interest and other expense of $16.3M was the main reason.
Operating cash flow was $26.4M (up 67% year over year). Non-cash charges added back $21.5M of depreciation and amortization and $14.8M of share-based compensation. Working capital and other items added $13.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $725M | +51% | -0.9% | −$23.6M | $26.4M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $653M | +47% | -1.5% | −$28.4M | −$9.3M |
| Q1 2026 | 10-Q | May 7, 2026 | $496M | +3% | -2.1% | −$26.6M | −$984K |
| Q4 2025 | 10-K | Feb 25, 2026 | $469M | -28% | -87.1% | −$429M | $48.8M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $480M | -23% | 0.2% | −$20.9M | $15.8M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $444M | -31% | -0.3% | −$19.9M | −$30.3M |
| Q1 2025 | 10-Q | May 9, 2025 | $484M | -24% | -0.3% | −$64.6M | $4.6M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
Customers and suppliers named in filings
Sells to
- MOH — 26% of its revenue · Stated in 10-K (XBRL) · source
- CNC — 12% of its revenue · Stated in 10-K (XBRL) · source
About Evolent Health
Evolent is a market leader in connecting care for people with complex conditions like cancer, cardiovascular disease, and musculoskeletal diagnoses. We work on behalf of health plans and other risk-bearing entities and payers (our customers) to support physicians and other healthcare providers (our users) in providing high quality evidence-based care to their patients. We believe adherence to evidence-based clinical pathways supports better outcomes for patients, a better experience for physicians, and lower costs for the healthcare system overall.
In its own words, from its 10-K, filed Feb 25, 2026.
Evolent Health against its Services-Management Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +51% against the peers' median -1%. Operating margin: -0.9% against the peers' median -0.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| EVH Evolent Health | Q3 2026 | $725M | +51% | -0.9% |
| IT Gartner | Q3 2026 | $1.5B | -1% | 18.7% |
| FC Franklin Covey | Q4 FY26 | $70.0M | -2% | 12.3% |
| SKYI Sky Century Investment | Q3 FY26 | $38K | +24% | -11.3% |
| KNIH Kioni Holdings | Q2 2026 | $27K | -21% | -349.4% |
Source: Evolent Health 10-Q on SEC EDGAR · CIK 1628908 · Services-Management Services
Guidance and outlook
13F: who owns EVH and who is buying
More on EVH
- How Evolent Health makes money: revenue by segment
- Evolent Health next earnings date and what analysts expect
- Evolent Health stock forecast, price target and fair value
- Who owns Evolent Health stock: holders, funds and Congress trades
- Evolent Health guidance and outlook
- Is Evolent Health a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results