In opening 2023, Arlington’s Evolent Health Inc. laid off hundreds of workers while setting the stage for its next phase of growth.
According to public filings in the Chicago market, last month the company, which spent 2022 snapping up more market share and expanding its services for healthcare providers, cut more than 460 positions in its Chicago operations.
Although its fourth-quarter net loss more than doubled year over year from $5.65 million in 2021 to $11.25 million in 2022, that dip did not translate to the full year. The company reported a nearly 50% decrease in net loss for all of 2022, with a reported figure of $19.16 million compared to the previous year.
The business closed in 2022 with $1.35 billion in revenue, which was a nearly 49% increase from its 2021 totals. This growth included $382.4 million in the fourth quarter, up 54% year over year.