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Segment Reporting | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting We have one operating segment and one reportable segment as our CODM, assesses the performance of our operations, develops strategy and 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 March 31,
|  |  |  |  | 2026 |  | 2025 |  |
Revenue |  |  |  |  | $ | 496,246 |  |  | $ | 483,649 |  |  |
Less: |  |  |  |  |  |  |  |  |
Medical expense and device costs (1) |  |  |  |  | 335,362 |  |  | 292,676 |  |  |
Cost of revenue excluding medical expense and device costs and other segment items (2) |  |  |  |  | 76,591 |  |  | 87,845 |  |  |
Selling, general and administrative expenses excluding other segment items (3) |  |  |  |  | 62,226 |  |  | 66,268 |  |  |
Depreciation and amortization expenses |  |  |  |  | 21,555 |  |  | 24,058 |  |  |
Interest income |  |  |  |  | (1,014) |  |  | (1,274) |  |  |
Interest expense |  |  |  |  | 16,868 |  |  | 10,385 |  |  |
Gain (loss) from equity method investees |  |  |  |  | 11 |  |  | 19 |  |  |
Provision for income taxes |  |  |  |  | 910 |  |  | 1,470 |  |  |
Other segment items (4) |  |  |  |  | 10,369 |  |  | 74,452 |  |  |
Net loss attributable to common shareholders of Evolent Health, Inc. |  |  |  |  | $ | (26,632) |  |  | $ | (72,250) |  |  |
———————— (1)Medical expenses and device costs include $301.8 million and $206.0 million of total claims incurred related to our specialty care management services solution for the three months ended March 31, 2026 and 2025, respectively. (2)Other segment items excluded from cost of revenue excluding medical expense and device costs include $0.5 million and $0.7 million of stock compensation for the three months ended March 31, 2026 and 2025, respectively. (3)Other segment items excluded from selling, general and administrative expenses include the following (in thousands):
|  |  | For the Three Months Ended March 31,
|  |  |  |  | 2026 |  | 2025 |  |
Stock-based compensation |  |  |  |  | $ | 10,130 |  |  | $ | 10,424 |  |  |
Severance costs |  |  |  |  | — |  |  | 1,014 |  |  |
Transaction-related costs |  |  |  |  | 462 |  |  | 703 |  |  |
(4)Other segment items is defined as stock-based compensation, severance costs and transaction-related 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, 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.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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