Privia Health Group Earnings Call Transcripts
Fiscal Year 2026
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Strong provider and attributed lives growth drove double-digit increases in practice collections and EBITDA, with margin expansion and a raised 2026 outlook. Expansion into new markets and integration of recent acquisitions support continued growth, while robust cash flow and balance sheet provide flexibility.
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Q1 saw double-digit growth in providers, attributed lives, and collections, with adjusted EBITDA up 36% year-over-year. Guidance for 2026 is reiterated, except for a higher attributed lives range, and integration of recent acquisitions is ahead of schedule.
Fiscal Year 2025
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Strong 2025 results exceeded guidance, with 16.9% Practice Collections growth and 38.8% higher Adjusted EBITDA. 2026 guidance projects continued double-digit growth, robust cash flow, and disciplined capital deployment, supported by recent acquisitions and technology investments.
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Strong Q3 results featured 61.6% adjusted EBITDA growth, robust provider and attributed lives expansion, and a raised 2025 outlook. The Elevance ACO acquisition will add 120,000+ lives and expand the national footprint, while free cash flow and cash reserves remain strong.
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Q2 2025 saw robust provider and attributed lives growth, record practice collections, and a 31.6% increase in adjusted EBITDA. Guidance for 2025 was raised above initial ranges, with strong cash flow and continued expansion into new markets like Arizona.
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Strong Q1 2025 results featured double-digit growth in providers, attributed lives, and collections, with adjusted EBITDA up 35%. Expansion into Arizona via a $95M IMS acquisition is expected to be EBITDA positive in Q4 and drive further growth.
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A primary care-centric network operating in 14 states, the business leverages a scalable, tech-enabled model to drive value-based care, strong financial performance, and provider autonomy. Record provider adds and robust cash flow support expansion, with 2025 EBITDA growth expected above 20%.
Fiscal Year 2024
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Delivered strong 2024 results, exceeding guidance on all key metrics with robust provider and attributed lives growth, record free cash flow, and margin expansion. 2025 guidance anticipates continued growth despite Medicare Advantage headwinds, with prudent assumptions for shared savings and capital deployment.
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Q3 2024 saw robust growth in providers, attributed lives, and financial metrics, with adjusted EBITDA up 25.8% year-over-year and strong free cash flow. Guidance was raised to the high end for all metrics, supported by a diversified, capital-light model and continued expansion into new markets.
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Q2 2024 saw strong growth in providers, attributed lives, and financial metrics, with Practice Collections up 4% and adjusted EBITDA up 14% year-over-year. Guidance for 2024 was raised, supported by a robust balance sheet and continued expansion, while risk management and capital allocation remain disciplined.
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A scalable, tech-enabled physician platform is driving profitable growth by serving all payer and patient types, expanding rapidly across states, and excelling in value-based care. Strong financials, high provider retention, and a conservative balance sheet support continued success.