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Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Reconciliation of Adjusted EBITDA to Net Loss
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 September 30,For the Nine Months Ended September 30,
2025202420252024
Revenue$479,533 $621,401 $1,407,510 $1,908,199 
Less:
Medical expense and device costs274,628 448,596 816,466 1,333,657 
Cost of revenue excluding medical expense and device costs and other segment items (1)
103,890 90,995 285,466 279,571 
Selling, general and administrative expenses excluding other segment items (2)
62,060 50,009 192,216 157,123 
Depreciation and amortization expenses23,615 29,701 70,814 89,074 
Interest income(964)(794)(3,322)(4,714)
Interest expense16,475 6,010 38,461 18,002 
Gain (loss) from equity method investees(156)2,229 (334)3,623 
Provision from income taxes906 (619)1,551 (292)
Change in tax receivables agreement liability— — — 173 
Other segment items (3)
26,009 26,505 156,462 94,821 
Net loss attributable to common shareholders of Evolent Health, Inc.$(26,930)$(31,231)$(150,270)$(62,839)
————————
(1)Other segment items excluded from cost of revenue excluding medical expense and device costs include $1.2 million and $2.9 million of stock compensation for the three and nine months ended September 30, 2025, respectively, and $1.1 million and $3.3 million for the three and nine months ended September 30, 2024, respectively.

(2)Other segment items excluded from selling, general and administrative expenses include the following (in thousands):

For the Three Months Ended September 30,For the Nine Months Ended September 30,
2025202420252024
Stock-based compensation$13,441 $13,299 $34,395 $42,532 
Severance costs1,540 1,680 3,345 2,860 
Transaction-related costs551 2,072 1,254 2,235 
Repositioning costs— — — 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, gain on extinguishment of short-term debt, extinguishment of Series A Preferred Stock and other refinancing fees, loss on option exercise, other income (expense), net, and dividends and accretion of Series A Preferred Stock and excise tax on 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.