EVOLENT HEALTH Reports 46.6% YOY Revenue Increase of $469.1 Million for Q2 FY2023
August 15, 2023
☀️Earnings Overview
For the second quarter of its FY2023, EVOLENT HEALTH ($NYSE:EVH) reported a revenue of USD 469.1 million, signifying a 46.6% rise year-on-year. Net income for the quarter was USD -34.3 million, compared to a loss of -4.6 million in the corresponding period of the previous year. This period ended on June 30 2023.
Analysis
GoodWhale conducted an analysis of EVOLENT HEALTH‘s wellbeing and classified them as a ‘cheetah’ based on the Star Chart. A cheetah is a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are looking to capitalize on the growth potential of a company like EVOLENT HEALTH may be interested in such an opportunity. However, the Star Chart revealed that EVOLENT HEALTH is strong in growth, but weak in asset, dividend, and profitability. Additionally, EVOLENT HEALTH has a low health score of 2/10 with regard to its cashflows and debt, indicating that it is less likely to safely ride out any crisis without the risk of bankruptcy. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Evolent Health. More…
| Total Revenues | Net Income | Net Margin |
| 1.63k | -76.89 | -3.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Evolent Health. More…
| Operations | Investing | Financing |
| 24.91 | -662.79 | 565.29 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Evolent Health. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.65k | 1.55k | 9.67 |
Key Ratios Snapshot
Some of the financial key ratios for Evolent Health are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.1% | – | -8.5% |
| FCF Margin | ROE | ROA |
| -0.7% | -7.3% | -3.3% |
Peers
The company’s products and services enable healthcare providers to receive and process payments from patients and third-party payers. Evolent Health Inc’s competitors include PreAxia Health Care Payment Systems Inc, Livecare Inc, PT Bundamedik Tbk, and other healthcare payment processing companies.
– PreAxia Health Care Payment Systems Inc ($OTCPK:PAXH)
PreAxia Health Care Payment Systems Inc is a healthcare technology company that provides solutions to healthcare organizations and payers. Its products and services include claims processing, payment processing, and data management. The company was founded in 1997 and is headquartered in Boston, Massachusetts.
– Livecare Inc ($OTCPK:LVCE)
The companyPT Bundamedik Tbk is a leading healthcare provider in Indonesia. The company has a market cap of 4.73T as of 2022 and a ROE of 10.69%. The company is focused on providing quality healthcare services to the Indonesian people. The company has a strong presence in the Indonesian healthcare market and is committed to providing the best possible care to its patients.
Summary
Evolent Health reported strong financial results for the second quarter of FY2023, with total revenue increasing by 46.6% compared to the same period last year. Net income for the quarter was reported to be a loss of -34.3 million, despite being an improvement over the loss of -4.6 million the previous year. Investors may look to the revenue growth and improving financial performance as signs of a positive outlook for Evolent Health’s future. Additionally, investors may also look to the company’s growth strategies and technology investments to evaluate its potential for long-term growth.
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