Privia Health (US:PRVA)2023-11-05 13:24Q3 2023 Performance Highlights - Implemented providers increased to 4,105 in Q3 2023, a 14.2% increase compared to Q3 2022[10] - Practice Collections reached $723.5 million in Q3 2023, an 18.2% increase compared to Q3 2022[10] - Adjusted EBITDA was $18.8 million in Q3 2023, a 20.0% increase compared to Q3 2022[10] - Year-to-date Practice Collections reached $2.0824 billion, compared to $1.7892 billion in the same period of 2022[29] - Year-to-date Adjusted EBITDA reached $55.0 million, compared to $46.6 million in the same period of 2022[47] Value-Based Care and MSSP Performance - Privia ACOs achieved an average aggregate savings rate of 7.6% in 2022[22] - Privia ACOs' share of shared savings was $91.2 million in 2022[23] - 77% of total MSSP lives are in downside risk tracks in 2022, compared to 0% in 2019[19] - Total annual average expenditures for MSSP 2022 Performance were improved by 8% vs Median MSSP ACO and 18% vs Total FFS Medicare[36] Expansion and Market Presence - Privia Medical Group launched in South Carolina, partnering with Greenville ENT and Allergy Associates[13] - The company has entered six new states in the last 12 months[13] - Total attributed lives reached 1.09 million, including Privia Care Partners' lives[15] Financial Position and Guidance - The company has no debt and approximately $371 million in pro forma net cash[31] - Updated FY'23 Guidance projects Practice Collections of $2.85 billion, GAAP Revenue in the mid to high end of $1.55 billion to $1.65 billion, Care Margin in the mid to high end of $350 million to $365 million, Platform Contribution above the high end of $160 million to $168 million, and Adjusted EBITDA in the mid to high end of $70 million to $74 million[32]