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Evolent Investor Relations Evolent Health Announces Second Quarter 2021 Results WASHINGTON , Aug. 4 , 2021 / PRNewswire / -- Evolent Health , Inc. ( NYSE : EVH ) , a health care company that delivers proven clinical and administrative solutions to payers and providers , today announced financial results for the quarter ended June 30 , 2021 . Highlights from the second quarter of 2021 announcement include : Quarter ended June 30 , 2021 : • GAAP revenue of $ 222.1 million , an increase of $ 4.8 million , or 2.2 % , from the three months ended June 30 , 2020 . • Organic revenue growth excluding revenue from divested assets of 42.3 % . • Net loss attributable to common shareholders of Evolent Health , Inc. of $ ( 9.1 ) million . • Achieved Adjusted EBITDA of $ 13.3 million , an increase of $ 2.8 million from the three months ended June 30 , 2020 . • Total lives managed of 12.2 million as of June 30 , 2021 , composed of 1.5 million lives in our Evolent Health Services segment and 10.7 million lives in our Clinical Solutions segment . Additional announcements : • Evolent Health enters into a definitive agreement to acquire Vital Decisions , a leading technology - enabled services business specializing in advance care planning • Evolent adds two new provider partnerships with Bond Clinic in Florida and Patient Physician Network in Texas , in addition to expanding total cost of care management services for Medicare Advantage and commercial lives with a large national payer in the State of Texas • Evolent signs agreement with Molina Ohio to provide New Century Health Performance Suite for cardiology Seth Blackley , Chief Executive Officer and Co - Founder of Evolent Health , commented , " Overall , we are very pleased with our results for the quarter exceeding our targets and we are raising guidance for the full - year 2021. We remain focused on driving shareholder value and continue to be on track towards our medium - term target of mid - teens organic top - line growth and mid - teens Adjusted EBITDA margins . We continue to see strong momentum in the market for our value - based care solutions . " Mr. Blackley continued , " Today we are excited to announce Evolent Care Partners has entered into two new partnerships with Patient Physicians Network in Texas and Bond Clinic in Florida . These two new , high - quality physician groups represent an exciting expansion of Evolent Care Partners ' presence in Texas and initial market entry into Florida and present opportunities for future growth . The expansions announced today bring Evolent Care Partners ' national footprint to seven states . Additionally , we are excited to announce New Century Health has signed an agreement with Molina Ohio for cardiology services for approximately 160,000 Medicaid and Exchange members . This signing further demonstrates our ability to expand organically with our base of large , national payers and risk - bearing providers , as well as our ability to convert New Century Health's Technology and Services Suite into the full Performance Suite . " Mr. Blackley commented , " We are also excited to announce the acquisition of Vital Decisions . The acquisition is EBITDA per share accretive before any synergies and we believe that Vital Decisions will add to the growth and profitability of New Century Health . As the asset is integrated into New Century Health , we also believe this transaction will add important patient engagement , telehealth and end - of - life management capabilities as additional levers for ensuring patients with complex illnesses receive high - quality , coordinated care . " Mr. Blackley concluded , " In summary , we remain confident in the execution of our investment themes of strong organic growth , expanding margins and efficient capital allocation . We feel very good about our performance thus far in 2021 , and we feel confident in our momentum heading into 2022. " Financial Results of Evolent Health , Inc. In our earnings releases , prepared remarks , conference calls , slide presentations and webcasts , we may use or discuss non - GAAP financial measures . Definitions of the non - GAAP financial measures , as well as reconciliations of non - GAAP financial measures to the most directly comparable GAAP financial measures are included in this earnings release . See Financial Statement Presentation and Non - GAAP Financial Measures for more information . Segment Highlights : Clinical Solutions • Revenue of $ 147.2 million and $ 130.8 million for the three months ended June 30 , 2021 and 2020 , respectively , representing 12.6 % growth year - over - year . • Organic revenue growth excluding revenue from divested assets of 50.2 % • Adjusted EBITDA of $ 13.6 million and $ 12.2 million for the three months ended June 30 , 2021 and 2020 , respectively . • Adjusted EBITDA margin of 9.2 % and 9.3 % for the three months ended June 30 , 2021 and 2020 , respectively . • Membership in our Performance Suite was 1.5 million lives with a PMPM of $ 32.39 and in our New Century Technology & Services Suite was 9.2 million lives with a PMPM of $ 0.37 as of June 30 , 2021 . Segment Highlights : Evolent Health Services • Revenue of $ 75.3 million and $ 87.2 million for the three months ended June 30 , 2021 and 2020 , respectively . • • Organic revenue growth excluding revenue from divested assets of 28.0 % Adjusted EBITDA of $ 6.5 million and $ 6.9 million for the three months ended June 30 , 2021 and 2020 , respectively . • Adjusted EBITDA margin of 8.7 % and 8.0 % for the three months ended June 30 , 2021 and 2020 , respectively . • Membership was 1.5 million lives with a PMPM of $ 13.81 . Reported Results Evolent Health , Inc. reported the following results in accordance with U.S. generally accepted accounting principles ( " GAAP " ) : • Revenue of $ 222.1 million and $ 217.3 million for the three months ended June 30 , 2021 and 2020 , respectively . • Cost of revenue of $ 172.1 million and $ 164.4 million for the three months ended June 30 , 2021 and 2020 , respectively . • Selling , general and administrative expenses of $ 42.7 million and $ 47.3 million for the three months ended June 30 , 2021 and 2020 , respectively . • Net loss attributable to common shareholders of Evolent Health , Inc. of $ ( 9.1 ) million and $ ( 203.5 ) million for the three months ended June 30 , 2021 and 2020 , respectively . • Loss attributable to common shareholders of Evolent Health , Inc. , per basic and diluted share , of $ ( 0.11 ) and $ ( 2.38 ) for the three months ended June 30 , 2021 and 2020 , respectively . Total cash and cash equivalents was $ 207.3 million as of June 30 , 2021 . Adjusted Results • Adjusted cost of revenue of $ 171.1 million and $ 163.3 million for the three months ended June 30 , 2021 and 2020 , respectively . • Adjusted selling , general and administrative expenses of $ 37.6 million and $ 43.5 million for the three months ended June 30 , 2021 and 2020 , respectively . • Adjusted EBITDA of $ 13.3 million and $ 10.5 million for the three months ended June 30 , 2021 and 2020 , respectively . • Adjusted EBITDA margin of 6.0 % and 4.8 % for the three months ended June 30 , 2021 and 2020 , respectively . • Adjusted Loss Available to Common Shareholders of $ ( 1.9 ) million and $ ( 1.0 ) million for the three months ended June 30 , 2021 and 2020 , respectively . • Adjusted Loss per Share Available to Common Shareholders of $ ( 0.02 ) and $ ( 0.01 ) for the three months ended June 30 , 2021 and 2020 , respectively . Business Outlook Full Year 2021 Guidance Revenue for the year ending December 31 , 2021 is expected to be in the range of approximately $ 870 million to $ 900 million , compared to previous guidance of $ 845 million to $ 880 million . Adjusted EBITDA is expected to be in the range of approximately $ 50 million to $ 58 million , compared to previous guidance of $ 42 million to $ 52 million .