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Loss Per Common Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Loss Per Common Share Loss Per Common Share
The following table sets forth the computation of basic and diluted earnings per share available for common stockholders (in thousands, except per share data):
For the Year Ended December 31,
202420232022
Loss from continuing operations$(61,623)$(113,040)$(18,701)
Loss from discontinued operations, net of tax— — (463)
Loss before preferred dividends and accretion of Series A Preferred Stock(61,623)(113,040)(19,164)
Dividends and accretion of Series A Preferred Stock(31,831)(29,220)— 
Net loss attributable to common shareholders of Evolent Health, Inc.$(93,454)$(142,260)$(19,164)
Weighted-average common shares outstanding - basic and diluted114,682 111,251 93,699 
Loss per common share
Basic and diluted$(0.81)$(1.28)$(0.20)
Basic net loss per common share is calculated using the weighted average number of common shares outstanding during the period. Diluted net earnings per common share, if any, gives effect to diluted stock options (calculated based on the treasury stock method), shares issuable upon debt conversion (calculated using an as-if converted method).

Anti-dilutive shares excluded from the calculation of weighted-average common shares presented above are presented below (in thousands):
For the Year Ended December 31,
202420232022
Restricted stock units ("RSUs"), performance-based RSUs (“PSUs”) and leveraged stock units ("LSUs")1,213 1,352 1,804 
Stock options245 794 1,769 
Series A Preferred Stock4,375 4,375 — 
Convertible senior notes15,752 6,808 9,574 
Total21,585 13,329 13,147