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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Revenue [1] $ 511,015 $ 352,585 $ 1,407,841 $ 969,581
Expenses        
Cost of revenue [1] 386,585 266,617 1,048,998 736,061
Selling, general and administrative expenses [1] 96,567 68,521 276,682 186,408
Depreciation and amortization expenses 32,404 17,196 93,813 47,414
Loss on disposal of assets 2,097 0 2,097 0
Right-of-use assets impairment 0 0 24,065 0
Change in fair value of contingent consideration 11,300 (12,700) 12,047 (5,822)
Total operating expenses 528,953 339,634 1,457,702 964,061
Operating income (loss) (17,938) 12,951 (49,861) 5,520
Interest income 1,071 425 2,735 765
Interest expense (14,614) (4,754) (41,967) (9,143)
Gain from equity method investees 684 1,392 1,262 3,940
Loss on repayment on long-term debt, net 0 (10,192) 0 (10,192)
Change in tax receivables agreement liability 0 (42,870) (66,184) (42,870)
Other income (expense), net (77) (345) (323) 130
Loss before income taxes (30,874) (43,393) (154,338) (51,850)
Benefit from income taxes (5,550) (45,516) (74,709) (44,498)
Income (loss) from continuing operations (25,324) 2,123 (79,629) (7,352)
Loss from discontinued operations, net of tax [2] 0 0 0 (463)
Income (loss) before preferred dividends and accretion of Series A Preferred Stock (25,324) 2,123 (79,629) (7,815)
Dividends and accretion of Series A Preferred Stock (7,872) 0 (21,236) 0
Net income (loss) attributable to common shareholders of Evolent Health, Inc. - Basic (33,196) 2,123 (100,865) (7,815)
Net income (loss) attributable to common shareholders of Evolent Health, Inc., Inc. - Diluted $ (33,196) $ 2,123 $ (100,865) $ (7,815)
Basic:        
Continuing operations (in dollars per share) $ (0.30) $ 0.02 $ (0.91) $ (0.08)
Discontinued operations (in dollars per share) 0 0 0 (0.01)
Basic income (loss) per share attributable to common shareholders of Evolent Health, Inc, (in dollars per share) (0.30) 0.02 (0.91) (0.09)
Diluted:        
Continuing operations (in dollars per share) (0.30) 0.02 (0.91) (0.08)
Discontinued operations (in dollars per share) 0 0 0 (0.01)
Diluted income (loss) per share attributable to common shareholders of Evolent Health, Inc, (in dollars per share) $ (0.30) $ 0.02 $ (0.91) $ (0.09)
Weighted-average common shares outstanding        
Basic (in shares) 112,282 95,286 110,464 91,643
Diluted (in shares) 112,282 99,308 110,464 91,643
Comprehensive income (loss)        
Net income (loss) attributable to common shareholders of Evolent Health, Inc. $ (33,196) $ 2,123 $ (100,865) $ (7,815)
Other comprehensive income (loss), net of taxes, related to:        
Foreign currency translation adjustment (151) (262) (87) (682)
Total comprehensive income (loss) attributable to common shareholders of Evolent Health, Inc. $ (33,347) $ 1,861 $ (100,952) $ (8,497)
[1] See Note 18 for amounts attributable to unconsolidated related parties included in these line items.
[2] Includes $(0.5) million loss on disposal for of discontinued operations for the nine months ended September 30, 2022.