Privia Health Reports First Quarter 2025 Financial Results

Core Insights - Privia Health Group, Inc. reported strong financial results for Q1 2025, with total revenue increasing by 15.6% to $480.1 million compared to $415.2 million in Q1 2024 [2][21] - The company achieved a significant increase in operating income, rising 534.0% to $5.2 million from $0.8 million year-over-year [2][21] - Privia Health raised its full-year 2025 guidance to the mid- to high end of its previous estimates across various metrics, indicating confidence in continued growth [5][8] Financial Performance - Total revenue for Q1 2025 was $480.1 million, up from $415.2 million in Q1 2024, reflecting a 15.6% increase [2] - Gross profit increased by 11.0% to $103.6 million from $93.4 million [2] - Net income rose by 41.4% to $4.2 million compared to $3.0 million in the same quarter last year [2] - Non-GAAP adjusted net income was $27.8 million, a 23.3% increase from $22.5 million [2] Key Operating Metrics - The number of implemented providers increased by 11.7% to 4,871 from 4,359 [4] - Value-based care attributed lives grew by 11.1% to 1,270,000 from 1,143,000 [4] - Practice collections reached $798.6 million, a 12.8% increase from $707.7 million [4] - Adjusted EBITDA for Q1 2025 was $26.9 million, up 35.1% from $19.9 million in Q1 2024 [4][6] Strategic Developments - Privia Health entered the Arizona market in partnership with Integrated Medical Services, which includes approximately 70 physicians and advanced practice providers [5][7] - The Arizona launch is expected to be profitable starting in Q4 2025, contributing to the company's growth strategy [5][7] Updated Guidance - Full-year 2025 guidance was raised to the mid- to high end of previous estimates for implemented providers, practice collections, and GAAP revenue [8] - The updated guidance includes expectations for minimal year-over-year increases in value-based shared savings accruals and assumes no other new business development activity [10]