Privia Health Reports Third Quarter 2025 Financial Results

Core Insights - Privia Health Group, Inc. reported strong financial results for the third quarter of 2025, with total revenue increasing by 32.5% year-over-year to $580.4 million [2][5] - The company raised its full-year 2025 guidance across all key operating and financial metrics, reflecting confidence in continued growth [5][15] Financial Performance - Total revenue for Q3 2025 was $580.4 million, compared to $437.9 million in Q3 2024, marking a 32.5% increase [2] - Gross profit rose to $122.6 million, up 22.7% from $99.9 million in the same quarter last year [2] - Operating income surged by 147.8% to $14.4 million, while net income increased by 94.1% to $6.9 million [2][5] - Non-GAAP adjusted net income for Q3 2025 was $37.3 million, a 49.1% increase from $25.1 million in Q3 2024 [2] Key Operating Metrics - The number of implemented providers grew by 13.1% to 5,250 compared to 4,642 in Q3 2024 [3] - Value-based care attributed lives increased by 12.8% to 1,406,000 from 1,247,000 [3] - Practice collections reached $940.4 million, reflecting a 27.1% increase from $739.9 million in Q3 2024 [3][5] Year-to-Date Performance - For the nine months ended September 30, 2025, total revenue was $1,581.7 million, up 24.0% from $1,275.5 million in the same period of 2024 [7] - Adjusted EBITDA for the nine months increased by 43.5% to $94.1 million compared to $65.6 million in 2024 [13] Strategic Developments - Privia Health signed an agreement to acquire an ACO business from Evolent Health, which will expand its value-based care footprint to over 1.5 million attributed lives [10][11] - The acquisition is expected to close in Q4 2025 and will positively impact adjusted EBITDA in 2026 [11] Updated Guidance - The company raised its full-year 2025 guidance for implemented providers, attributed lives, practice collections, and GAAP revenue, indicating strong growth expectations [15] - The updated guidance includes a practice collections target of $3,450 to $3,500 million and GAAP revenue of $2,050 to $2,100 million [15]