•
Mar 31, 2022
Privia Health Q1 2022 Earnings Report
Reported strong first quarter results with significant growth in practice collections, care margin, and adjusted EBITDA.
Key Takeaways
Privia Health reported strong first quarter results with a 46.9% increase in total revenue compared to the prior year. The company saw significant growth in practice collections, care margin, and adjusted EBITDA. They are focused on expanding provider partnerships, increasing attributed lives, and entering new markets.
Total revenue increased by 46.9% compared to the prior year first quarter.
Practice collections increased by 63.3% compared to the first quarter last year.
Care margin was up 36.4% compared to the first quarter last year.
Adjusted EBITDA grew 48.8% compared to the first quarter last year.
Privia Health
Privia Health
Forward Guidance
Privia Health updated its full-year 2022 guidance.
Positive Outlook
- Implemented Providers: 3,625 - 3,725
- Attributed Lives: 860,000 - 890,000
- Practice Collections: $2,050 - $2,200 million
- GAAP Revenue: $1,225 - $1,300 million
- Adjusted EBITDA: $52 - $56 million
Challenges Ahead
- 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.
- 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.
- Adjusted EBITDA guidance does not add back actual or estimated new market entry and development costs.
- 2022 guidance includes only previously announced new market entries.