Privia Health (PRVA) came out with quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.06 per share. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -50%. A quarter ago, it was expected that this physician practice management company would post earnings of $0.05 per share when it actually produced earnings of $0.03, delivering a surprise of -40%.Over the last fou ...

Strong Execution Across All Business and Financial MetricsRaised Full-Year 2024 Guidance to At or Above the High End for All MetricsAnnounced New Market Entry in Indiana Achieved MSSP 2023 Shared Saving of $176.6 Million, +34.1% versus 2023Strong Adjusted EBITDA Growth and Free Cash Flow Generation ARLINGTON, Va., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Privia Health Group, Inc. (Nasdaq: PRVA) today announced financial results for the third quarter and nine months ended September 30, 2024. Third Quarter Performan ...

ARLINGTON, Va., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Privia Health Group, Inc. (Nasdaq: PRVA) today announced that its Accountable Care Organizations (ACOs) achieved shared savings of $176.6 million through the Medicare Shared Savings Program (MSSP) for the 2023 performance year, a 34.1% increase from 2022. The 10 ACOs (collectively, Privia Quality Network or PQN) managed over $2.3 billion in healthcare benchmark spend through approximately 2,850 providers delivering high-value, cost-efficient care to 194,786 ...

Privia Health (PRVA) reported $422.33 million in revenue for the quarter ended June 2024, representing a yearover-year increase of 2.2%. EPS of $0.03 for the same period compares to $0.06 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $412.43 million, representing a surprise of +2.40%. The company delivered an EPS surprise of -40.00%, with the consensus EPS estimate being $0.05. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Privia Health (PRVA) came out with quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -40%. A quarter ago, it was expected that this physician practice management company would post earnings of $0.05 per share when it actually produced earnings of $0.02, delivering a surprise of -60%. Over the last f ...

Core Insights - Privia Health Group, Inc. has been awarded the 2024 MAP Award for High Performance in Revenue Cycle by the Healthcare Financial Management Association (HFMA) [1][2] - This recognition highlights Privia's consistent performance in revenue cycle management, achieving industry-standard benchmarks and high patient satisfaction over eight of the last nine years [2][3] - The award was presented during the HFMA Annual Conference in Las Vegas, NV, on June 24, 2024 [2] Company Overview - Privia Health is a technology-driven national physician enablement company that collaborates with medical groups, health plans, and health systems [4] - The company's platform focuses on optimizing physician practices, enhancing patient experiences, and rewarding high-value care delivery in both in-person and virtual settings [4] - Privia's operations are supported by cloud-based technology aimed at reducing healthcare costs, improving outcomes, and enhancing the well-being of both patients and providers [4]

Contact Robert Borchert SVP, Investor & Corporate Communications IR@priviahealth.com 817.783.4841 About Privia Health Privia Health™ is a technology-driven, national physician enablement company that collaborates with medical groups, health plans, and health systems to optimize physician practices, improve patient experiences, and reward doctors for delivering high-value care in both in-person and virtual settings. Privia Health's platform is led by top industry talent and exceptional physician leadership, ...

Company Overview - Privia Health Group, Inc. is a technology-driven national physician enablement company that collaborates with medical groups, health plans, and health systems to optimize physician practices and improve patient experiences [2] - The company's platform is designed to reduce unnecessary healthcare costs, achieve better outcomes, and enhance the health of patients and the well-being of providers through scalable operations and cloud-based technology [2] Upcoming Event - The management team of Privia Health plans to present at the 44th Annual William Blair Growth Stock Conference on June 5, 2024, at 11:00 am ET [1] - A live webcast and replay of the event will be available on the company's investor relations website [1]

Financial Data and Key Metrics Changes - Adjusted EBITDA increased by 18.1% year-over-year to reach $19.9 million, reflecting strong operating leverage despite investments in new markets [49][55] - Practice collections rose by 7.4% year-over-year to $707.7 million, driven by same-store and new provider additions [95] - The company expects a reduction of approximately $198 million in top line revenue for 2024 due to lower risk exposure from Medicare Advantage capitation agreements [56] Business Line Data and Key Metrics Changes - The number of implemented providers increased by 17.3% year-over-year to 4,359, with expectations to reach 4,700 by year-end [95] - Commercial attributed lives grew by 8% year-over-year to 685,000, indicating a strong performance in the commercial book [52] - The company is managing approximately $9 billion of medical spend across various programs, including commercial, MSSP, Medicare Advantage, and Medicaid [53] Market Data and Key Metrics Changes - The company serves approximately 1.14 million attributed lives across more than 100 value-based care contracts, marking a 10% increase from the previous year [69] - The sales pipeline remains strong across all markets, with a robust business development pipeline for new market opportunities [67] Company Strategy and Development Direction - The company aims to build one of the largest primary care-centric delivery networks in the U.S., focusing on risk arrangements to drive future earnings growth [70] - The strategy includes thoughtfully moving lives into increased risk arrangements over time, leveraging clinical operations and performance management [70] - The company plans to maintain a conservative balance sheet while being opportunistic in growth, with over $400 million in cash and no debt [38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business momentum and operating execution, closely monitoring medical cost trends and claims data [50] - The company is prepared for potential disruptions in the healthcare market, positioning itself as a stable partner for physician practices [91] - Management reiterated full-year 2024 guidance, expecting continued growth in adjusted EBITDA driven by operating leverage in mature markets [55][56] Other Important Information - The company has a strong balance sheet with cash of $351 million and no debt, positioning it well for future investments [97] - Adjusted EBITDA growth is expected to be driven by operating leverage in mature markets, offsetting new market entry costs [73] Q&A Session Summary Question: Can you unpack the growth in attributed lives? - The growth in attributed lives was influenced by the acquisition of a large IPA in Connecticut and the exit from Delaware, with most growth being organic [6][8] Question: How do you view the fee-for-service side growth? - The company expects seasonality to remain consistent with previous years, with solid performance in the first half positioning it well for the latter half [11][12] Question: Can you provide insights on the capitated MA book and fee-for-service book? - Utilization trends were as expected, with strong physician recruitment and a good pipeline for new markets [15][16] Question: What are the dynamics around shared savings revenue? - The company restructured contracts to preserve EBITDA and earnings power, with a focus on managing care management fees [19][20] Question: How does the company view the current healthcare M&A landscape? - The company sees potential opportunities as private equity and venture capital investments in physician practices may unwind, positioning itself as a stable partner [90][91]

Use of Non-GAAP Financial Information Solid First Quarter Performance and Operating Execution 1 st Quarter 2024 Results May 9, 2024 Parth Mehrotra – Chief Executive Officer David Mountcastle – Chief Financial Officer ● 1Q'24 Performance Building One of the Largest 1 Forward-Looking Statements In order to provide investors with greater insight, promote transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making, the Comp ...