Performance Suite was Evolent Health’s largest segment in fiscal 2025, bringing in $1.02B of $1.42B (72%).
| Segment | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Services Revenue | — | — | — | — | |||||
| Performance Suite | $808.64M | $1.21B | $1.80B | $1.02B | |||||
| Platforms & Operations Services | — | — | — | — | |||||
| Administrative Services | $407.52M | $296.24M | $238.04M | $226.68M | |||||
| Premiums | — | — | — | — | |||||
| Specialty Technology & Services Suite | $51.90M | $296.37M | $338.31M | — | |||||
| Cases | $83.95M | $156.63M | $176.52M | $168.98M | |||||
| Transformation Services | — | — | — | — | |||||
| Total | $1.35B | $1.96B | $2.55B | $1.42B |
Evolent Health brought in $1.42B from its three segments in fiscal 2025, the year ended December 31, 2025. Evolent Health regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $2.55B. Performance Suite was the largest at $1.02B (72.0%), ahead of Administrative Services at $226.68M (16.0%) and Cases at $168.98M (11.9%).
Compared with fiscal 2024, every segment above 2% of revenue shrank. Cases held up best, down 4.3% to $168.98M, and Performance Suite fell the most, down 43.4% to $1.02B.
Evolent Health stopped reporting Specialty Technology & Services Suite as a separate segment after fiscal 2024, when it brought in $338.31M.
Medicaid was Evolent Health’s largest revenue line in fiscal 2025, bringing in $818.31M of $1.41B (58%).
| Major Customers | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Medicaid | $559.36M | $785.05M | $862.40M | $818.31M | ||||
| Medicare | $458.41M | $708.85M | $1.05B | — | ||||
| Commercial & Other | $334.24M | $469.99M | $646.42M | $593.68M | ||||
| Administrative Solutions | — | — | — | — | ||||
| Clinical Solutions | — | — | — | — | ||||
| Total | $1.35B | $1.96B | $2.55B | $1.41B |
Evolent Health brought in $1.41B from its two revenue lines in fiscal 2025, the year ended December 31, 2025. Evolent Health regrouped these revenue lines after fiscal 2024, so the total does not compare directly with that year's $2.55B. Medicaid was the largest at $818.31M (58.0%), ahead of Commercial & Other at $593.68M (42.0%).
Compared with fiscal 2024, Medicaid fell 5.1% to $818.31M and Commercial & Other fell 8.2% to $593.68M.
Evolent Health stopped reporting Medicare as a separate revenue line after fiscal 2024, when it brought in $1.05B.
Evolent Health (EVH) reports its revenue by segment and by major customers. In fiscal 2025, Performance Suite was its largest segment, bringing in $1.02B (72.0% of the total), followed by Administrative Services at $226.68M (16.0%).
Performance Suite was Evolent Health's largest segment in fiscal 2025, bringing in $1.02B, or 72.0% of the $1.42B total across its three segments.
Medicaid was Evolent Health's largest revenue line in fiscal 2025, bringing in $818.31M, or 58.0% of the $1.41B total across its two revenue lines.
Every figure comes from Evolent Health's annual financial filings, as reported. Each line keeps the name Evolent Health gives it, and years follow its fiscal calendar.
Evolent Health's revenue by segment goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.