NASDAQ$PRVA
Privia Health Group, Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Privia Health's financial performance for Q1 2024 was reported, highlighting revenue growth and strategic shifts.
Privia Health reported a 7.5% increase in total revenue, reaching $415.2 million, and a gross profit increase of 12.5% to $93.4 million. The company reiterated its full-year 2024 guidance, focusing on growth in implemented providers and value-based care attributed lives.
- Total revenue increased by 7.5% year-over-year, reaching $415.2 million.
- Gross profit increased by 12.5% year-over-year, reaching $93.4 million.
- Implemented Providers increased by 17.3% year-over-year, totaling 4,359.
- Practice Collections increased by 7.4% year-over-year, amounting to $707.7 million.
Headline financials
Revenue & EPS history
Privia Health · Revenue · Quarterly
$415M
Revenue by segment
Privia Health · $417M total across 6 segments · Q3 2023
- FFS-patient care$246M—58.8%
- Capitated revenue$88.5M—21.2%
- Shared savings$33.5M—8.0%
- FFS-administrative services$29.8M—7.2%
- Care management fees (PMPM)$17.8M—4.3%
- Other revenue$2.03M—0.5%
Forward guidance
Privia Health reiterated its full-year 2024 guidance, focusing on growth in implemented providers and value-based care attributed lives, while anticipating impacts from renegotiated Medicare Advantage capitation agreements and start-up costs in new geographies.
Tailwinds
- Implemented Providers between 4,650 and 4,750.
- Attributed Lives between 1,150,000 and 1,200,000.
- Care Margin between $388 million and $400 million.
- Platform Contribution between $180 million and $188 million.
- Adjusted EBITDA between $85 million and $90 million.
Headwinds
- Practice Collections guidance includes reduction of approximately $198 million from renegotiated Medicare Advantage capitation agreements.
- Assumes minimal year-over-year increase in Shared Savings accruals.
- Adjusted EBITDA guidance includes approximately $10-12 million in start-up costs for new geographies announced in last 18 months.
- Capital expenditures are expected to be less than $1 million in full-year 2024.
- Effective tax rate expected to be approximately 27-28%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+3.5%
Avg return
Earnings day
+4.1%
Avg return
5 days after
+1.3%
Avg return
30 days after
64%
16 / 25 earnings
Positive
+28.3%
Q1 2022
Best reaction
-8.8%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.1% | -4.1% | -9.9% | |
| Q4 2025 | +9.9% | +4.9% | -11.6% | |
| Q3 2025 | -4.3% | -2.8% | -4.7% | |
| Q1 2025 | +7.3% | +4.2% | -0.6% | |
| Q4 2024 | +5.8% | +6.1% | -6.1% | |
| Q3 2024 | +0.7% | +6.7% | +0.1% | |
| Q2 2024 | +4.4% | +9.7% | +2.1% | |
| Q1 2024 | -4.7% | -4.3% | -9.1% | |
| Q4 2023 | +9.4% | +11.6% | -2.0% | |
| Q3 2023 | +9.7% | +9.0% | +6.0% | |
| Q2 2023 | +1.6% | -1.2% | -2.3% | |
| Q1 2023 | +7.3% | +7.2% | -8.3% | |
| Q4 2022 | +4.6% | +6.3% | +1.7% | |
| Q3 2022 | +5.3% | +6.2% | -9.7% | |
| Q2 2022 | +0.6% | -4.6% | +13.3% | |
| Q1 2022 | +28.3% | +25.1% | +41.0% | |
| Q4 2019 | -2.0% | +6.4% | -3.5% | |
| Q4 2021 | +3.3% | +7.5% | +10.4% | |
| Q3 2020 | +12.3% | +18.3% | -14.5% | |
| Q3 2021 | +12.3% | +18.3% | -14.5% | |
| Q2 2020 | -8.8% | -14.8% | -26.5% | |
| Q2 2021 | -8.8% | -14.8% | -26.5% | |
| Q4 2020 | -2.2% | +0.7% | +34.8% | |
| Q1 2020 | -2.2% | +0.7% | +34.8% | |
| Q1 2021 | -1.1% | +0.9% | +39.1% |
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