Privia Health Q3 revenue $342.9M (+36% YoY), raises FY22 guidance; new health system partnerships

Privia Health Group, Inc.

2022-Q3 EPS reported -$0.24 revenue$992,236,000

Q3 revenue $342.9M (+36.3% YoY); GAAP net income $1.6M ($0.01/sh) vs net loss $9.1M (-$0.09/sh) prior year.
Adjusted net income $16.7M ($0.13/diluted share) vs $15.0M ($0.13) prior year; adjusted EBITDA $15.7M (+12.9% YoY).
Implemented providers 3,595 (+27.2% YoY); practice collections $611.9M (+52.4% YoY); care margin $77.7M (+26.4% YoY).
Raised FY22 guidance: Practice Collections $2,325-2,400M (prev $2,050-2,200M); Adj. EBITDA $59-61M (prev $52-56M).
Announced partnerships with Novant Health (NC) and OhioHealth (OH); ACOs achieved $99.9M in MSSP shared savings for 2021.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Privia Health Group, Inc. reported third quarter ended September 30, 2022 results: revenue Total revenue for the third quarter of 2022 was $342.9 million, net income Net income for the third quarter of 2022 was $1.6 million, EPS $0.01 per share.

Period: third quarter ended September 30, 2022
Revenue: Total revenue for the third quarter of 2022 was $342.9 million
Net income: Net income for the third quarter of 2022 was $1.6 million
EPS: $0.01 per share
Result: reported results

Exact text from the filing

Privia Health Group, Inc. (Nasdaq: PRVA) today announced financial results for the third quarter and nine month periods ended September 30, 2022. Third Quarter Total revenue for the third quarter of 2022 was $342.9 million, compared to total revenue of $251.5 million for the prior year third quarter (+36.3%). Operating loss for the third quarter of 2022 was $(4.6) million, compared to operating loss of $(12.8) million for the prior year third quarter. Net income for the third quarter of 2022 was $1.6 million, or $0.01 per share, compared to net loss of $(9.1) million, or $(0.09) per share, for the third quarter of 2021.

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Source: SEC EDGAR

accession 0001759655-22-000179

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