Privia Health Reports Second Quarter 2025 Financial Results

Core Insights - Privia Health Group, Inc. reported strong financial results for the second quarter of 2025, with total revenue increasing by 23.4% year-over-year to $521.2 million, and gross profit rising by 14.8% to $112.8 million [2][4][6]. Financial Performance - Total revenue for the second quarter of 2025 was $521.2 million, compared to $422.3 million in the same period of 2024, reflecting a 23.4% increase [2]. - Gross profit for the second quarter of 2025 was $112.8 million, up from $98.3 million in 2024, marking a 14.8% increase [2]. - Operating income decreased by 34.6% to $3.3 million, while net income fell by 22.5% to $2.7 million [2][6]. - Non-GAAP adjusted net income increased by 30.1% to $30.6 million, with adjusted net income per share rising by 26.3% to $0.24 [2][6]. Key Operating Metrics - The number of implemented providers increased by 13.8% to 5,125, and value-based care attributed lives rose by 15.2% to 1,382,000 [2][4]. - Practice collections for the second quarter reached $862.9 million, an 18.5% increase compared to the previous year [2][4]. - Adjusted EBITDA for the second quarter was $29.0 million, reflecting a 31.6% increase from $22.0 million in 2024 [2][4]. Six-Month Performance - For the first half of 2025, total revenue was $1,001.3 million, up 19.5% from $837.6 million in the same period of 2024 [6]. - Gross profit for the first half was $216.4 million, a 12.9% increase from $191.6 million [6]. - Non-GAAP adjusted net income for the first half increased by 26.8% to $58.4 million [6]. Updated Guidance - Privia Health raised its full-year 2025 guidance for practice collections, GAAP revenue, platform contribution, and adjusted EBITDA, indicating strong growth expectations [8][9]. - The updated guidance includes expectations for implemented providers to reach 5,300 and attributed lives to reach 1,400,000 [8][9]. Cash Position - The company reported cash and cash equivalents of $390.1 million with no debt, following a $95 million deployment for an IMS transaction in Arizona [5][6].