Evolent Health: 3Q Earnings Snapshot
ARLINGTON, Va. (AP) _ Evolent Health Inc. (EVH) on Tuesday reported a loss of $25.5 million in its third quarter.
On a per-share basis, the Arlington, Virginia-based company said it had a loss of 30 cents. Losses, adjusted for non-recurring costs and stock option expense, came to 9 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The health care software and consulting services provider posted revenue of $220.1 million in the period. Its adjusted revenue was $220.3 million, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $217.5 million.
For the current quarter ending in December, Evolent Health said it expects revenue in the range of $233.5 million.
The company expects full-year revenue of $844.3 million.
Evolent Health shares have fallen 60% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8, a decrease of 65% in the last 12 months.