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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, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Revenue [1] $ 621,401 $ 511,015 $ 1,908,199 $ 1,407,841
Expenses        
Cost of revenue [1] 540,708 386,585 1,616,557 1,048,998
Selling, general and administrative expenses [1] 67,060 96,567 215,349 276,682
Depreciation and amortization expenses 29,701 32,404 89,074 93,813
Loss on disposal of non-strategic assets 0 2,097 0 2,097
Right-of-use assets impairment 0 0 0 24,065
Change in fair value of contingent consideration 200 11,300 9,108 12,047
Total operating expenses 637,669 528,953 1,930,088 1,457,702
Operating loss (16,268) (17,938) (21,889) (49,861)
Interest income 794 1,071 4,714 2,735
Interest expense (6,010) (14,614) (18,002) (41,967)
Gain (loss) from equity method investees (2,229) 684 (3,623) 1,262
Change in tax receivables agreement liability 0 0 (173) (66,184)
Other expense, net (43) (77) (140) (323)
Loss before income taxes (23,756) (30,874) (39,113) (154,338)
Benefit from income taxes (619) (5,550) (292) (74,709)
Loss before preferred dividends and accretion of Series A Preferred Stock (23,137) (25,324) (38,821) (79,629)
Dividends and accretion of Series A Preferred Stock (8,094) (7,872) (24,018) (21,236)
Net loss attributable to common shareholders of Evolent Health, Inc. - basic (31,231) (33,196) (62,839) (100,865)
Net loss attributable to common shareholders of Evolent Health, Inc. - diluted $ (31,231) $ (33,196) $ (62,839) $ (100,865)
Basic and diluted        
Basic (in dollars per share) $ (0.27) $ (0.30) $ (0.55) $ (0.91)
Diluted (in dollars per share) $ (0.27) $ (0.30) $ (0.55) $ (0.91)
Weighted-average common shares outstanding        
Basic (in shares) 114,862 112,282 114,565 110,464
Diluted (in shares) 114,862 112,282 114,565 110,464
Comprehensive loss        
Net loss attributable to common shareholders of Evolent Health, Inc. $ (31,231) $ (33,196) $ (62,839) $ (100,865)
Other comprehensive loss, net of taxes, related to:        
Foreign currency translation adjustment (12) (151) (110) (87)
Total comprehensive loss attributable to common shareholders of Evolent Health, Inc. $ (31,243) $ (33,347) $ (62,949) $ (100,952)
[1] See Note 18 for amounts attributable to unconsolidated related parties included in these line items.