Evolent Health (EVH) Operating Expenses (2015 - 2026)
Evolent Health's (EVH) quarterly Operating Expenses came in at $506.8 million in Q1 2026, up 4.45% year-on-year from $485.3 million in Q1 2025, and down 42.2% quarter-over-quarter from $877.0 million in Q4 2025.
Evolent Health (EVH) Operating Expenses (2015 - 2026) Analysis & Trends
Evolent Health's Operating Expenses history runs 12 years deep, the most recent figure standing at $506.8 million for Q1 2026.
- On a quarterly basis, Operating Expenses rose 4.45% year-over-year to $506.8 million in Q1 2026; TTM through Mar 2026 was $2.3 billion, a 4.92% decrease from a year earlier, with the FY2025 full-year figure at $2.3 billion, down 11.9% from the prior year.
- Operating Expenses declined to $506.8 million in Q1 2026 per EVH's latest filing, from $877.0 million in the prior quarter.
- Across five years, Operating Expenses topped out at $877.0 million in Q4 2025 and bottomed at $299.9 million in Q1 2022.
- The 5-year median for Operating Expenses is $490.7 million (2023), against an average of $516.0 million.
- Across the five-year window, Operating Expenses jumped 55.74% in 2023 and slumped 30.32% in 2025, its largest moves.
- Year by year, Operating Expenses stood at $384.3 million in 2022, then soared by 50.24% to $577.4 million in 2023, then gained by 15.19% to $665.1 million in 2024, then soared by 31.84% to $877.0 million in 2025, then sank by 42.2% to $506.8 million in 2026.
- Per Business Quant, the three latest EVH Operating Expenses figures stand at $506.8 million (Q1 2026), $877.0 million (Q4 2025), and $478.6 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 29.34 Bn | 22.03 Bn | 662.02 Mn | 388.91 Mn |
| 2 | BrightSpring Health Services | 13.49 Bn | 12.59 Bn | 482.22 Mn | 360.77 Mn |
| 3 | Healthequity | 7.96 Bn | 7.70 Bn | 256.31 Mn | 153.36 Mn |
| 4 | 10x Genomics | 6.17 Bn | 5.63 Bn | 106.18 Mn | 123.22 Mn |
| 5 | Hinge Health | 6.02 Bn | 5.70 Bn | 154.23 Mn | 122.16 Mn |
| 6 | MiniMed | 4.19 Bn | 3.89 Bn | 480.00 Mn | 398.00 Mn |
| 7 | Waystar Holding | 4.14 Bn | 4.07 Bn | 216.84 Mn | 233.41 Mn |
| 8 | Doximity | 3.82 Bn | 3.08 Bn | 125.97 Mn | 101.14 Mn |
| 9 | Privia Health | 3.10 Bn | 2.73 Bn | - | 596.43 Mn |
| 10 | Evolent Health | 517.00 Mn | 351.02 Mn | 83.77 Mn | 506.85 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 506.85 Mn |
| Dec 31, 2025 | 876.95 Mn |
| Sep 30, 2025 | 478.65 Mn |
| Jun 30, 2025 | 445.50 Mn |
| Mar 31, 2025 | 485.27 Mn |
| Dec 31, 2024 | 665.14 Mn |
| Sep 30, 2024 | 637.67 Mn |
| Jun 30, 2024 | 639.36 Mn |
| Mar 31, 2024 | 653.06 Mn |
| Dec 31, 2023 | 577.41 Mn |
| Sep 30, 2023 | 528.95 Mn |
| Jun 30, 2023 | 490.70 Mn |
| Mar 31, 2023 | 438.05 Mn |
| Dec 31, 2022 | 384.31 Mn |
| Sep 30, 2022 | 339.63 Mn |
| Jun 30, 2022 | 324.57 Mn |
| Mar 31, 2022 | 299.86 Mn |
| Dec 31, 2021 | 260.57 Mn |
| Sep 30, 2021 | 229.05 Mn |
| Jun 30, 2021 | 229.73 Mn |