Compared to Estimates, Evolent Health (EVH) Q4 Earnings: A Look at Key Metrics

Evolent Health (EVH) reported $468.72 million in revenue for the quarter ended December 2025, representing a year-over-year decline of 27.5%. EPS of $0.08 for the same period compares to -$0.02 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $469.22 million, representing a surprise of -0.11%. The company delivered an EPS surprise of +28%, with the consensus EPS estimate being $0.06.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Evolent Health performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Average PMPM Fees / Revenue per Case - Performance Suite: $13.87 versus $14.14 estimated by three analysts on average.
• Average PMPM Fees / Revenue per Case - Specialty Technology and Services Suite: $0.40 versus $0.38 estimated by three analysts on average.
• Average PMPM Fees / Revenue per Case - Administrative Services: $15.27 compared to the $15.78 average estimate based on three analysts.
• Average Lives on Platform / Cases - Cases: 14 thousand versus 13.86 thousand estimated by three analysts on average.
• Average Lives on Platform / Cases - Performance Suite: 6.48 million versus the three-analyst average estimate of 6.53 million.
• Average Lives on Platform / Cases - Specialty Technology and Services Suite: 79.68 million compared to the 78.38 million average estimate based on three analysts.
• Average Lives on Platform / Cases - Administrative Services: 1.22 million versus the three-analyst average estimate of 1.2 million.
• Average PMPM Fees / Revenue per Case - Cases: $3,537.00 compared to the $3,142.27 average estimate based on three analysts.
• Total Revenue by product type- Performance Suite: $269.46 million versus $276.94 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -41% change.
• Total Revenue by product type- Cases: $47.71 million compared to the $43.5 million average estimate based on three analysts. The reported number represents a change of -0.5% year over year.
• Total Revenue by product type- Administrative Services: $55.8 million versus the three-analyst average estimate of $56.69 million. The reported number represents a year-over-year change of -5.9%.
• Total Revenue by product type- Specialty Technology and Services Suite: $95.74 million versus the three-analyst average estimate of $88.49 million. The reported number represents a year-over-year change of +16.3%.

View all Key Company Metrics for Evolent Health here>>>

Shares of Evolent Health have returned -25.3% over the past month versus the Zacks S&P 500 composite's -1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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