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Segment Reporting | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting We have one operating segment and one reportable segment as our CODM, reviews financial information on a consolidated basis for purposes of evaluating financial performance and allocating resources. The performance measure closest to U.S. GAAP used by our CODM to evaluate the performance of the Company’s ongoing operations on a consolidated basis and as part of the Company’s internal planning and forecasting activities is net loss attributable to common shareholders of Evolent Health, Inc. The CODM does not evaluate performance or allocate resources based on segment assets, and therefore such information is not presented in the notes to the financial statements. The following table presents our revenue and significant expenses reviewed by our CODM, other segment items and net loss attributable to common shareholders of Evolent Health, Inc. (in thousands):
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30, |
| 2025 |  | 2024 |  | 2025 |  | 2024 |
Revenue | $ | 444,328 |  |  | $ | 647,145 |  |  | $ | 927,977 |  |  | $ | 1,286,798 |  |
Less: |  |  |  |  |  |  |  |
Medical expense and device costs | 249,161 |  |  | 453,725 |  |  | 541,838 |  |  | 885,061 |  |
Cost of revenue excluding medical expense and device costs and other segment items (1) | 93,732 |  |  | 85,370 |  |  | 181,576 |  |  | 188,576 |  |
Selling, general and administrative expenses excluding other segment items (2) | 63,888 |  |  | 56,100 |  |  | 130,156 |  |  | 107,113 |  |
Depreciation and amortization expenses | 23,141 |  |  | 29,870 |  |  | 47,199 |  |  | 59,373 |  |
Interest income | (1,084) |  |  | (1,370) |  |  | (2,358) |  |  | (3,920) |  |
Interest expense | 11,601 |  |  | 5,995 |  |  | 21,986 |  |  | 11,992 |  |
Gain (loss) from equity method investees | (197) |  |  | 1,700 |  |  | (178) |  |  | 1,394 |  |
Provision from income taxes | (825) |  |  | (238) |  |  | 645 |  |  | 327 |  |
Change in tax receivables agreement liability | — |  |  | — |  |  | — |  |  | 173 |  |
Other segment items (3) | 56,001 |  |  | 22,376 |  |  | 130,453 |  |  | 68,317 |  |
Net loss attributable to common shareholders of Evolent Health, Inc. | $ | (51,090) |  |  | $ | (6,383) |  |  | $ | (123,340) |  |  | $ | (31,608) |  |
———————— (1)Other segment items excluded from cost of revenue excluding medical expense and device costs include $1.0 million and $1.7 million of stock compensation for the three and six months ended June 30, 2025, respectively, and $1.2 million and $2.2 million for the three and six months ended June 30, 2024, respectively. (2)Other segment items excluded from selling, general and administrative expenses include the following (in thousands):
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Stock-based compensation | $ | 10,530 |  |  | $ | 11,452 |  |  | $ | 20,954 |  |  | $ | 29,233 |
Severance costs | 791 |  |  | 800 |  |  | 1,805 |  |  | 1,180 |
Transaction-related costs | — |  |  | 163 |  |  | 703 |  |  | 163 |
Repositioning costs | — |  |  | 670 |  |  | — |  |  | 10,599 |
(3)Other segment items is defined as stock-based compensation, severance costs, transaction-related costs and repositioning costs not included in cost of revenue or selling, general and administrative expenses calculated in accordance with GAAP, loss on lease termination, change in fair value of contingent consideration, extinguishment of Series A Preferred Stock, loss on option exercise, other income (expense), net, and dividends and accretion of Series A Preferred Stock. Management believes cost of revenue excluding medical expense and device costs and other segment items and selling, general and administrative expenses excluding other segment items are useful to investors because they facilitate an understanding of our long-term operational costs while removing the effect of costs that are not a representative component of the day-to-day operating performance of our business, and are useful to management as supplemental performance measures.

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- Definition The entire disclosure for reporting segments including data and tables. 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