Privia Health (PRVA)

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Privia Health (PRVA) - 2023 Q3 - Quarterly Report
2023-11-03 13:01
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-Q _______________________________ (Mark One) For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40365 _________________________ Privia Health Group, Inc. (Exact Name of Registrant as Specified in Its Charter) _________________________ ...
Privia Health (PRVA) - 2023 Q2 - Earnings Call Transcript
2023-08-06 18:05
Financial Data and Key Metrics Changes - Practice Collections increased almost 14% year-over-year, reaching $700 million in Q2 2023 [9][16] - Adjusted EBITDA rose more than 24% to $19.3 million, demonstrating strong operating leverage [9][16] - Total attributed lives increased almost 27% from a year ago, with total value-based care comprising 37% of total GAAP revenue in Q2 2023 compared to 29.6% in Q2 2022 [12][16][69] Business Line Data and Key Metrics Changes - Implemented Provider count was 3,870, up 9.3% year-over-year [16] - Care Margin increased by 18.8% for the first half of 2023 [16] - Value-based care represented 24.9% of Practice Collections in Q2 2023, up from 21.8% in Q2 2022 [69] Market Data and Key Metrics Changes - The company expanded its national footprint to include close to 3,900 implemented providers caring for over 4.4 million patients [11] - The gross provider attrition rate in 2023 has been less than 1% year-to-date, one of the lowest in the company's history [11] Company Strategy and Development Direction - The company aims to build one of the largest ambulatory care delivery networks in the nation, focusing on expanding its provider partnerships and entering new markets [8][19] - A definitive agreement was announced to enter Washington, marking the company's 13th state, in partnership with Walla Walla Clinic [9][10] - The company plans to continue investing in new markets while maintaining a strong balance sheet with approximately $318 million in cash and no debt [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage risk and deliver significant shared savings, EBITDA, and free cash flow growth [13] - The company updated its 2023 guidance to the mid to high end of initial ranges based on strong year-to-date performance [17] - Management noted that while there are challenges in the operating environment, the diversified book of business positions the company well for future growth [19] Other Important Information - A secondary offering of 42.6 million shares was completed, eliminating previous ownership by Goldman Sachs and Pamplona Capital [10] - The company has broadened its Board capabilities with new members bringing extensive healthcare industry experience [10] Q&A Session Summary Question: Utilization trends in the quarter - Management noted strong ambulatory utilization trends and a higher plateau coming out of COVID, with good performance across both fee-for-service and value-based books [24] Question: Ramp in new markets - Management reported strong early performance in new markets like North Carolina, Connecticut, and Ohio, exceeding expectations for new provider sales [29] Question: Capitated revenues and PMPM expectations - Management indicated that the PMPM for capitated revenues is expected to remain in the current range, influenced by the mix of business and risk pools [34] Question: Washington market entry - Management highlighted that they will own the tax ID and MSO entity in Washington, expecting to consolidate results from the closing date [38] Question: Value-based attributed lives growth - Management emphasized a balanced book of business and the potential for growth in attributed lives across all segments, despite some enrollment shifts [42] Question: Care management fees increase - Management attributed the increase in care management fees to strong topline growth and performance in value-based arrangements [44] Question: Investments in new markets - Management confirmed that investments in new markets are tracking on schedule and are expected to yield long-term results [48] Question: Accounts receivable increase - Management explained that the increase in accounts receivable was related to new capitation-related accruals and follows a typical annual pattern [66] Question: Virtual care strategy - Management stated that virtual care is an integral part of their strategy to optimize provider operations and improve overall economics [81]
Privia Health (PRVA) - 2023 Q2 - Quarterly Report
2023-08-03 20:06
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-Q _______________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40365 _________________________ Privia Health Group, ...
Privia Health (PRVA) - 2023 Q1 - Earnings Call Transcript
2023-05-06 23:10
Privia Health Group, Inc. (NASDAQ:PRVA) Q1 2023 Results Conference Call May 4, 2023 8:30 AM ET Company Participants Robert Borchert - SVP, Investor and Corporate Communications Shawn Morris - CEO Parth Mehrotra - President and COO David Mountcastle - CFO Conference Call Participants Lisa Gill - JPMorgan A.J. Rice - Credit Suisse Andrew Mok - UBS Gary Taylor - Cowen Whit Mayo - SVB Jessica Tassan - Piper Sandler David Larsen - BTIG Richard Close - Canaccord Jamie Perse - Goldman Sachs Joshua Raskin - Nephron ...
Privia Health (PRVA) - 2023 Q1 - Quarterly Report
2023-05-04 10:32
Table of Contents For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40365 _________________________ Privia Health Group, Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-Q _______________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...
Privia Health (PRVA) - 2022 Q4 - Earnings Call Transcript
2023-03-03 20:39
Privia Health Group, Inc. (NASDAQ:PRVA) Q4 2022 Earnings Conference Call February 28, 2023 8:30 AM ET Company Participants Robert Borchert - SVP of Investor and Corporate Communications Shawn Morris - Chief Executive Officer Parth Mehrotra - President and Chief Operating Officer David Mountcastle - Chief Financial Officer Conference Call Participants Taji Phillips - Jefferies David Larsen - BTIG Lisa Gill - JPMorgan Joshua Raskin - Nephron Research Jailendra Singh - Truist Securities Ryan Daniels - Willi ...
Privia Health (PRVA) - 2022 Q4 - Annual Report
2023-03-01 21:16
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-K _______________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40365 _________________________ Privia Health Group, Inc. (Exact ...
Privia Health Group (PRVA) Presents At 41st Annual Healthcare Conference - Slideshow
2023-01-20 13:00
(2) Platform Contribution is total revenue less the sum of physician and practice expense and cost of platform. (5) Amount represents stock-based compensation expense included in Cost of Platform. For the Nine Months Ended (3) Adjusted EBITDA is net income (loss) ottributable to Privid Heath Group, Inc. shoreholders and substition's excluding minority interests, provision (benefit) for income income, interest expense, depreciation and amortization, stock-based compensation, severance charges and other non-r ...
Privia Health (PRVA) - 2022 Q3 - Earnings Call Transcript
2022-11-13 17:14
Privia Health Group, Inc. (NASDAQ:PRVA) Q3 2022 Earnings Conference Call November 10, 2022 8:30 AM ET Company Participants Robert Borchert - Investor Relations Shawn Morris - Chief Executive Officer Parth Mehrotra - President and Chief Operating Officer David Mountcastle - Chief Financial Officer Conference Call Participants Joshua Raskin - Nephron Research Jailendra Singh - Truist Richard Close - Canaccord Genuity Lisa Gill - JPMorgan Ryan Daniels - William Blair Sandy Draper - Guggenheim Whit Mayo - SVB D ...
Privia Health (PRVA) - 2022 Q3 - Quarterly Report
2022-11-10 21:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-Q _______________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40365 _________________________ Privia Health Group, Inc. (Exact Name of Registrant as Specified in I ...