Privia Health Q1 revenue $386.3M (+23% YoY), net income $7.3M vs loss; reiterates FY guidance

Privia Health Group, Inc.

2023-Q1 EPS reported $0.06 revenue$386,276,000

Revenue $386.3M (+23.1% YoY); net income $7.3M ($0.06 EPS); adjusted EPS $0.16 (+30.4% YoY).
Practice Collections $658.9M (+17.3%); Care Margin $84.0M (+17.3%); Platform Contribution $41.4M (+18.4%).
Implemented Providers 3,716 (+10.3%); Value-Based Care Attributed Lives ~1.04M (+22.3%).
Adjusted EBITDA $16.9M (+13.9%); full-year 2023 guidance reaffirmed (Adjusted EBITDA $70-74M).
Balance sheet: $311.2M cash, no outstanding debt.

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 first quarter ended March 31, 2023 results: revenue $386.3 million, net income $7.3 million, EPS $0.06 per share. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $386.3 million
Net income: $7.3 million
EPS: $0.06 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Total revenue for the first quarter of 2023 was $386.3 million, compared to total revenue of $313.8 million for the prior year first quarter (+23.1%). Gross Profit for the first quarter of 2023 was $83.0 million, compared to $70.8 million for the prior year first quarter. Operating income for the first quarter of 2023 was $6.7 million, compared to operating loss of $(11.5) million for the prior year first quarter. Net income for the first quarter of 2023 was $7.3 million, or $0.06 per share, compared to net loss of $(17.5) million, or $(0.16) per share, for the first quarter of 2022.

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Source: SEC EDGAR

accession 0001759655-23-000091

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