Evolent Health Sees Q2 Revenue $625M-$645M Vs $606.64M Est.; FY24 Revenue $2.53B-$2.60B Vs $2.47B Est.

Second Quarter 2024 Guidance

For the three months ended June 30, 2024, revenue is expected to be in the range of approximately $625.0 million to $645.0 million. Adjusted EBITDA is expected to be in the range of approximately $48.0 million to $62.0 million.

The Company noted that the wide range for its second quarter outlook for Adjusted EBITDA is driven by higher leading indicator volume in certain Performance Suite contracts in Q1, combined with lower claims visibility from partners in part due to the Change Healthcare cyber-attack. Together these variables resulted increased conservatism for Q2 guidance.

Full Year 2024 Guidance 

For year ending December 31, 2024, revenue is expected to be in the range of approximately $2.53 billion to $2.60 billion and Adjusted EBITDA is expected to be in the range of approximately $235.0 million to $265.0 million. In reiterating its Adjusted EBITDA outlook for the year, the company noted growth in its diverse portfolio of risk and non-risk products and certain contractual protections available to the company in its risk contracts.

This "Business Outlook" section contains forward-looking statements, and actual results may differ materially. Factors that may cause actual results to differ materially from our current expectations are set forth below in "Forward Looking Statements - Cautionary Language" and Evolent Health, Inc.'s filings with the Securities and Exchange Commission ("SEC").