Privia Health Group (PRVA) Company Report

Privia Health Group reported strong 2025 financial results, with Adjusted EBITDA increasing 38.8% to $125.5 million and Practice Collections growing 16.9% to $3.47 billion. The company also achieved 130% free cash flow conversion and ended the year with $479.7 million in cash.
Operational highlights for 2025 included a 12.3% increase in implemented providers to 5,380 and a 22.7% rise in value-based attributed lives to 1.54 million. Strategic expansion included the acquisition of Evolent Health's ACO business and entry into Arizona.
For 2026, the company projects Adjusted EBITDA growth of approximately 20% at the midpoint, reaching $150 million, and anticipates 80% free cash flow conversion. It expects to end 2026 with approximately $600 million in cash, assuming no new business development.
Privia Health Group plans to continue its growth through both organic and inorganic means, with M&A as a core component of its strategy, and is actively exploring AI applications to enhance productivity and margin.

6 days ago

Transcript

Privia Health Group Reports Strong 2025 Results and Provides Positive 2026 Guidance

PRVA

Earnings

Guidance Update

M&A

Privia Health Group reported a strong 2025, with Adjusted EBITDA increasing 38.8% to $125.5 million and practice collections growing 16.9% to $3.47 billion. The company generated significant free cash flow, converting 130% of EBITDA in 2025, ending the year with $479.7 million in cash.
For 2026, the company expects Adjusted EBITDA growth of 19.5% to a $150 million midpoint and anticipates converting 80% of EBITDA to free cash flow, projecting to end 2026 with approximately $600 million in cash.
Operational growth in 2025 included adding 591 providers, a 12.3% increase year-over-year, and increasing value-based attributed lives by 22.7% to 1.54 million. The company also completed the acquisition of Evolent Health's ACO business, adding over 120,000 value-based attributed lives.
The company plans to continue deploying capital for M&A to compound the business, targeting ACO entities, medical groups, and MSO entities, while maintaining a disciplined approach to acquisitions.

6 days ago

Transcript

Privia Health Group Announces Strong Q4 and Full-Year 2025 Results with Positive 2026 Guidance

PRVA

Earnings

Guidance Update

M&A

Privia Health Group reported strong Q4 and full-year 2025 financial performance, with Adjusted EBITDA growing 26.4% to $31.5 million in Q4 2025 and 38.8% to $125.5 million for the full year 2025. Full-year Practice Collections increased 16.9% to $3.47 billion.
The company ended FY 2025 with a strong balance sheet, holding $479.7 million in net cash and no debt. FY 2025 Free Cash Flow was $163.4 million, converting at 130.2% of Adjusted EBITDA.
Strategic expansion in 2025 included the acquisition of the Evolent ACO business and entry into the Arizona market.
For FY 2026, the company projects continued growth with Adjusted EBITDA guidance between $145 million and $155 million and Practice Collections between $3.65 billion and $3.75 billion. They anticipate approximately 80% of FY 2026 Adjusted EBITDA to convert to Free Cash Flow and expect to end FY 2026 with over $600 million in cash and equivalents.

6 days ago

Presentation

Privia Health Reports Strong Q4 and Full-Year 2025 Results, Issues 2026 Guidance

PRVA

Earnings

Guidance Update

M&A

Privia Health reported strong Q4 2025 Adjusted EBITDA of $31.5 million, a 26.4% increase year-over-year, and full-year 2025 Adjusted EBITDA of $125.5 million, up 38.8%.
For the full year 2025, the company added 591 providers, increasing the total to 5,380 (up 12.3% year-over-year), and value-based attributed lives grew 22.7% to 1.54 million.
The company ended 2025 with $479.7 million in cash and no debt, having converted 130% of EBITDA to free cash flow.
Privia Health provided 2026 guidance, projecting Adjusted EBITDA growth of 19.5% to $150 million at the midpoint, and expects to end 2026 with approximately $600 million in cash.
Strategic capital deployment remains a priority, focusing on acquisitions to compound the business, while maintaining a strong cash balance and considering returning capital as a last resort.

6 days ago

Transcript

Privia Health Reports Strong Q4 and Full-Year 2025 Financial Results, Provides 2026 Guidance

PRVA

Earnings

Guidance Update

Revenue Acceleration/Inflection

Privia Health Group, Inc. reported full-year 2025 net income of $22.9 million, a 59.3% increase from 2024, and Adjusted EBITDA of $125.5 million, up 38.8% from 2024.
All 2025 operating and financial metrics were at or above the high end of the company's guidance ranges.
The company concluded 2025 with a cash balance of $479.7 million and no debt, while net cash provided by operating activities increased 49.5% to $163.4 million.
For 2026, Privia Health anticipates GAAP Revenue between $2,350 million and $2,450 million and Adjusted EBITDA between $145 million and $155 million, representing approximately 20% growth at the midpoint.

6 days ago

8-K

Privia Health Reports Strong Q3 2025 Results, Raises 2025 Guidance, and Announces ACO Acquisition

PRVA

Earnings

Guidance Update

M&A

Privia Health reported strong Q3 2025 results, with Adjusted EBITDA increasing 61.6% to $38.2 million and practice collections growing 27.1% to $940.4 million.
The company raised its 2025 outlook, with midpoint guidance expecting Adjusted EBITDA growth of 32% and implemented providers to reach 5,325 by year-end.
Privia Health agreed to acquire an ACO business from Elevance Health for $100 million in cash, which is expected to add over 120,000 value-based care attributed lives and positively contribute to adjusted EBITDA in 2026.
For 2024, the company achieved strong Medicare Shared Savings Program (MSSP) results, with total shared savings of $234.1 million, a 32.6% increase from the prior year.

Nov 6, 2025, 1:00 PM

Transcript

Privia Health Reports Strong Q3 2025 Results, Raises 2025 Outlook, and Announces ACO Acquisition

PRVA

Earnings

Guidance Update

M&A

Privia Health reported strong Q3 2025 results, with practice collections increasing 27.1% year-over-year to $940.4 million and Adjusted EBITDA growing 61.6% to $38.2 million, representing 30.5% of care margin.
The company raised its 2025 outlook, projecting 11.2% year-over-year growth in implemented providers to 5,325 by year-end and 32% Adjusted EBITDA growth at the midpoint.
Privia Health agreed to acquire an ACO business from Elevance Health for $100 million in cash, which is expected to add over 120,000 value-based care attributed lives and contribute positively to adjusted EBITDA in 2026.
For the 2024 Medicare Shared Savings Program (MSSP), Privia managed over $2.5 billion in medical spend, achieving an aggregate savings rate of 9.4% and gross shared savings of $160.1 million.
The company ended Q3 2025 with a strong financial position, reporting pro forma cash of $409.9 million and no debt.

Nov 6, 2025, 1:00 PM

Transcript

Privia Health Reports Strong Q3 2025 Results, Raises Full-Year Guidance, and Announces ACO Acquisition

PRVA

Earnings

Guidance Update

M&A

Privia Health reported strong Q3 2025 financial results, with practice collections increasing 27.1% year-over-year to $940.4 million and Adjusted EBITDA growing 61.6% to $38.2 million.
The company raised its 2025 outlook, with expected Adjusted EBITDA growth of 32% at the midpoint, and anticipates ending the year with at least $410 million in cash.
Privia Health agreed to acquire an ACO business from Elevance Health for $100 million in cash, which is expected to add over 120,000 value-based care attributed lives and positively contribute to adjusted EBITDA in 2026.
Operational growth continued with implemented providers reaching 5,250 at September 30, an increase of 13.1% year-over-year.

Nov 6, 2025, 1:00 PM

Transcript

PRVA Reports Strong Q3 2025 Results and Raises Full-Year Guidance

PRVA

Earnings

Guidance Update

M&A

Privia Health reported a strong third quarter 2025, with Practice Collections growing 27.1% to $940.4 million and Adjusted EBITDA increasing 61.6% to $38.2 million compared to Q3 2024.
The company raised its full-year 2025 guidance for all operating and financial metrics, with updated Adjusted EBITDA guidance ranging from $118 million to $121 million and Practice Collections from $3,450 million to $3,500 million.
As of September 30, 2025, Privia Health maintained a strong balance sheet with $409.9 million in pro forma net cash and no debt, and expects to close the acquisition of Evolent's ACO business by year-end 2025, utilizing $100 million for the transaction.
Implemented Providers grew to 5,250 in Q3 2025, a 13.1% increase compared to Q3 2024, and Attributed Lives reached 1.4 million.

Nov 6, 2025, 1:00 PM

Presentation

Privia Health Reports Strong Q3 2025 Results, Raises FY25 Guidance, and Announces ACO Acquisition

PRVA

Earnings

Guidance Update

M&A

Privia Health reported strong third quarter 2025 financial results, with total revenue increasing 32.5% to $580.4 million and Adjusted EBITDA growing 61.6% to $38.2 million compared to the prior year period.
Operational metrics also showed significant growth, with Implemented Providers reaching 5,250 (+13.1%) and Practice Collections at $940.4 million (+27.1%) for Q3 2025, leading the company to raise its full-year 2025 guidance for all key operating and financial metrics.
The company signed a definitive agreement on September 23, 2025, to acquire an ACO business from Evolent Health, Inc., which will add over 120,000 attributed lives and is expected to close in Q4 2025, while maintaining a strong balance sheet with $441.4 million in cash and cash equivalents and no debt as of September 30, 2025.

Nov 6, 2025, 11:09 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for Privia Health Group.

Q4 2025

Feb 26, 2026

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Q3 2025

Nov 6, 2025

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Q2 2025

Aug 7, 2025

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View All Transcripts

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Privia Health Group (PRVA)

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