Privia Health Q2 revenue up 2.2% to $422.3M; raises FY2024 guidance

Privia Health Group, Inc.

2024-Q2 EPS reported $0.05 revenue$837,569,000

Q2 GAAP net income $3.5M ($0.03 EPS); adjusted net income $23.5M ($0.19 EPS), +13% YoY.
Practice partners increased 15% YoY to 5,500; care center locations up 4% to 1,340.
Gross profit rose 8.9% to $98.3M; operating income fell 27% to $5.1M on higher stock compensation.
Raised full-year 2024 guidance: revenue $1.685-1.715B, adjusted EBITDA $117-122M, adj. EPS $0.66-0.71.
Net cash provided by operations was $38.6M YTD; free cash flow was $30.5M.

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