NASDAQ$PRVA
Privia Health Group, Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Privia Health's financial performance improved in Q2 2023 with increased revenue and profitability.
Privia Health reported a strong second quarter in 2023, with a 23.2% increase in revenue to $413.4 million. The company achieved net income of $7.3 million, a significant improvement from the net loss of $(10.5) million in the same quarter last year. Key metrics, including practice collections, care margin, and attributed lives, also showed substantial growth.
- Total revenue increased by 23.2% year-over-year to $413.4 million.
- Net income was $7.3 million, a significant improvement from the prior year's net loss.
- Practice collections grew by 13.7% year-over-year to $700.0 million.
- Value-Based Care Attributed Lives increased by 26.6% year-over-year to approximately 1,084,000.
Headline financials
Revenue & EPS history
Privia Health · Revenue · Quarterly
$413M
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 updated its full-year 2023 guidance with increased expectations across several key metrics.
Tailwinds
- Implemented Providers: Expecting mid to high end of 4,050-4,150 range.
- Attributed Lives: Expecting midpoint of 1,050,000-1,150,000 range.
- Practice Collections: Expecting midpoint of $2,700 million - $2,850 million range.
- GAAP Revenue: Expecting mid to high end of $1,550 million - $1,650 million range.
- Adjusted EBITDA: Expecting mid to high end of $70 million - $74 million range.
Headwinds
- Practice Collections guidance includes impact of paused capitated agreement previously announced
- Adjusted EBITDA guidance includes approximately $8-10 million in start-up costs for new geographies and ACOs
- Management has not reconciled forward-looking non-GAAP measures to their most directly comparable GAAP measures of gross margin, operating income and net income
- The Company cannot predict with reasonable certainty and without unreasonable efforts the ultimate outcome of certain GAAP components of such reconciliations due to market-related assumptions that are not within our control as well as certain legal or advisory costs, tax costs or other costs that may arise
- For these reasons, management is unable to assess the probable significance of the unavailable information, which could materially impact the amount of the future directly comparable GAAP measures.
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 Q2 2023
+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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