Filing Flows › Evolent Health (EVH) › Q2 2025
Evolent Health (EVH) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 11, 2025
Evolent Health (EVH) reported revenue of $444M for the second quarter 2025 (Q2 2025), -31% from a year earlier and -8% from the quarter before. Operating margin was -0.3%, net loss $19.9M (4.5% of revenue).
Evolent Health, Q2 2025: revenue $444M (-31% year over year), operating margin -0.3%, net loss $19.9M, operating cash flow −$30.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $444M | -8% | -31% |
| Operating profit | −$1.2M | — | — |
| Net earnings | −$19.9M | — | — |
| Operating cash flow | −$30.3M | -764% | — |
What changed
Revenue was $444.3M in Q2 2025, down 31% year over year and down 8% from the previous quarter.
Operating costs exceeded revenue by $1.2M, an operating margin of -0.3%. Total costs fell 30% while revenue fell 31%. The quarter ended with a net loss of $19.9M, narrower than the previous quarter's $64.6M loss. Net interest and other expense of $19.6M was the main reason.
Operating cash flow was −$30.3M. Non-cash charges added back $23.1M of depreciation and amortization and $11.6M of share-based compensation. Working capital and other items used $45.2M.
Questions
What was Evolent Health's revenue in the second quarter 2025?
Evolent Health (EVH) reported revenue of $444M for the second quarter 2025 (Q2 2025), -31% from a year earlier and -8% from the quarter before.
Was Evolent Health profitable in the second quarter 2025?
Operating loss was $1.2M (-0.3% of revenue) and net loss $19.9M.
Source: Evolent Health 10-Q on SEC EDGAR.