Income (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share available for common stockholders (in thousands, except per share data):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2022		2021		2022		2021
Income (loss) from continuing operations	$	2,123	$	(13,040)	$	(7,352)	$	(33,337)
Income (loss) from discontinued operations, net of tax	—		—		(463)		1,383
Net income (loss) attributable to common shareholders of Evolent Health, Inc.	$	2,123	$	(13,040)	$	(7,815)	$	(31,954)

Weighted-average common shares outstanding - basic	95,286		85,800		91,643		85,306
Incremental diluted shares from stock options	1,915		—		—		—
Incremental diluted shares from Restricted stock units ("RSUs"), performance-based RSUs (“PSUs”) and leveraged stock units ("LSUs")	2,107		—		—		—
Convertible notes	—		—		—		—
Weighted-average common shares outstanding - diluted	99,308		85,800		91,643		85,306

Income (loss) per common share
Basic:
Continuing operations	$	0.02	$	(0.15)	$	(0.08)	$	(0.39)
Discontinued operations	—		—		(0.01)		0.02
Basic income (loss) per share attributable to common shareholders of Evolent Health, Inc.	$	0.02	$	(0.15)	$	(0.09)	$	(0.37)
Diluted:
Continuing operations	$	0.02	$	(0.15)	$	(0.08)	$	(0.39)
Discontinued operations	—		—		(0.01)		0.02
Diluted income (loss) per share attributable to common shareholders of Evolent Health, Inc.	$	0.02	$	(0.15)	$	(0.09)	$	(0.37)

Basic net income (loss) per common share is calculated using the weighted average number of common shares outstanding during the period. Diluted net earnings per common share, if any, gives effect to diluted stock options (calculated based on the treasury stock method), shares issuable upon debt conversion (calculated using an as-if converted method).

Schedule of Antidilutive Securities Excluded From Computation of Earnings Per Share

Anti-dilutive shares excluded from the calculation of weighted-average common shares presented above are presented below (in thousands):


	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2022	2021	2022	2021
Restricted stock units ("RSUs"), performance-based RSUs (“PSUs”) and leveraged stock units ("LSUs")	—	2,012	1,818	1,700
Stock options	—	2,004	1,858	2,008
Convertible senior notes	9,007	12,696	10,714	12,696
Total	9,007	16,712	14,390	16,404