Evolent Health, Inc. announced financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, revenue reached $646.5 million, an increase from $556.0 million in Q4 2023, while the net loss attributable to common shareholders was $30.6 million. Adjusted EBITDA for the quarter was $22.6 million, down from $48.0 million in the prior year period.
For the full year 2024, Evolent reported revenue of $2.55 billion, up from $1.96 billion in 2023, and Adjusted EBITDA of $160.4 million, a decrease from $194.6 million in 2023. The company maintained 100% retention across its top customers, which represent over 90% of its 2024 revenue.
Looking ahead, Evolent provided guidance for the first quarter of 2025, expecting revenue between $440 million and $470 million, and Adjusted EBITDA between $31 million and $37 million. For the full year 2025, revenue is projected to be between $2.06 billion and $2.11 billion, reflecting 15%-18% annual growth after adjusting for one-time contract changes, with Adjusted EBITDA expected between $135 million and $165 million. The company also plans to deploy approximately $35 million in cash for capitalized software development during 2025.
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