NASDAQ$PRVA
Privia Health Group, Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Announced financial results for the third quarter and nine-month periods ended September 30, 2021, and raised full-year 2021 guidance on all metrics.
Privia Health reported strong growth in Q3 2021, with practice collections increasing by 18.1%, care margin growing by 31.5%, and adjusted EBITDA up by 51.9% compared to the third quarter last year. The company also saw a 15.2% growth of implemented providers and a 17.6% increase in attributed lives.
- Total revenue for the third quarter of 2021 was $251.5 million, compared to $207.2 million for the prior year third quarter, representing a 21.4% increase.
- Operating loss for the third quarter of 2021 was $12.8 million, compared to operating income of $8.5 million for the prior year third quarter.
- Non-GAAP adjusted net income was $15.0 million, or $0.13 per diluted share, for the third quarter of 2021, compared to $8.4 million, or $0.09 per diluted share, for the prior year third quarter, representing a 78.8% increase.
- Implemented Providers increased by 15.2% and Value-Based Care Attributed Lives increased by 17.6% compared to the third quarter of 2020.
Headline financials
Revenue & EPS history
Privia Health · Revenue · Quarterly
$252M
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 is updating its full-year 2021 guidance to reflect management’s expectation of the fourth quarter impact of the Company’s recent entry into the California and West Texas markets as well as its strong year-to-date performance and positive business momentum in existing markets.
Tailwinds
- Implemented Providers: 3,300 - 3,330
- Attributed Lives: 760,000 - 765,000
- Practice Collections: $1,520 - $1,540 million
- GAAP Revenue: $900 - $920 million
- Care Margin: $225 - $230 million
Headwinds
- Platform Contribution: $102 - $105 million
- Adjusted EBITDA: $39 - $41 million
- Management has not reconciled forward-looking non-GAAP measures to their most directly comparable GAAP measures of 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.
- Adjusted EBITDA guidance does not add back actual or estimated new market entry and development costs.
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 Q3 2021
+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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