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How Evolent Health, Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$1.9B · 100%Cost of revenue$1.5B · 79%Gross profit$400M · 21%Operating income−$410M · −22%Income before tax−$535M · −28%Income tax−$126000 · −0%Net income−$535M · −28%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$1.9B100%
  • 10-K · FY 2025Filing detailsAccession 0001628908-26-000015 · filed Feb 25, 2026
Cost of revenue$1.5B79%
  • 10-K · FY 2025Filing detailsAccession 0001628908-26-000015 · filed Feb 25, 2026
$400M21%
  • 10-K · FY 2025Filing detailsAccession 0001628908-26-000015 · filed Feb 25, 2026
−$410M−22%
  • 10-K · FY 2025Filing detailsAccession 0001628908-26-000015 · filed Feb 25, 2026
Income before tax−$535M−28%
  • 10-K · FY 2025Filing detailsAccession 0001628908-26-000015 · filed Feb 25, 2026
Income tax−$126000−0%
  • 10-K · FY 2025Filing detailsAccession 0001628908-26-000015 · filed Feb 25, 2026
−$535M−28%
  • 10-K · FY 2025Filing detailsAccession 0001628908-26-000015 · filed Feb 25, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001628908-26-000015 · filed Feb 25, 2026
· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set
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